Recruiting in 2019 is set to be much different than it was last year. On the Isle of Man, we have a fairly saturated and fiercely competitive recruiting environment, and it’s important for employers and HR teams to understand predicted changes in the market in order to build a fruitful recruitment strategy and attract the best talent.
There is a growing shift towards the demand for flexible and remote working requirements, and for benefits other than financial reward. As important as ever before, the key to attracting the best talent is to understand what motivates people to move job and how to reach out to these people.
Our 2019 forecast:
2019 continues to be a candidate-driven market.
With vacancies in finance and eGaming becoming increasingly difficult to fill on the Isle of Man, due to a lower than ever unemployment rate, the recruitment process is once again driven by the employee rather than the employer. This means that employers need to sell not only the role, but the culture of the company and increasingly more apparent, the Island itself!
Be prepared to relocate your candidate
Selling your role now involves 40% job opportunity and 60% relocation/family prospects. The best people to promote your job are those who live and work on the Isle of Man. We suggest creating content either in the form of video or blog and use your existing employees to talk about life on the Isle of Man. Don’t forget to make use of free resources as well, such as the visitisleofman.com website.
There is an increasing need for hybrid skills
Technology trends and AI is developing more rapidly than ever before, and the workplace is vastly changing, leaving both the employer and the employee fearing the unknown when it comes to job security. Employers should invest in training existing staff with new skills and seek to employ any new staff members with multiple skills and abilities that make them more adaptable to new technology changes. Taking care of existing staff is always cheaper than recruiting new staff.
Consider your candidates family
As mentioned earlier in this blog, recruiting for some Finance and eGaming roles on the Isle of Man often involves recruiting a candidate who needs to relocate from off island; this clearly makes the recruitment process more difficult. It’s critical to remember that your candidates’ partner and their families are equally as important in this decision-making process. Find out more about what matters to them and how you can help ease any of their concerns with regards to lifestyle, the cost of living, and the Isle of Mans facilities.
Social media recruitment is on the rise
The introduction of machine learning, big data and propensity algorithms has changed the way we seek out and attract those best suited to the needs of a business.
In 2018 73% of millennials found their role through a job advert on a social media site (source: Aberdeen Group). This figure is set to rise in 2019. Set a social media budget aside for your recruitment strategy and learn how to build connections with motivated candidates on LinkedIn.
Candidates are seeking more than financial reward
Motivating people to move jobs can be a difficult task, especially when different things motivate different people, but there is mounting evidence, especially with Generation Y stepping into the working limelight, that money is no longer the motivator it once was. Most people are now looking to reach the ‘self-actualization’ stage where they can feel truly valued as individuals. It, therefore, stands to reason that companies need to be paying attention to how they are supporting their staff in other ways, such as, offering benefits like health insurance, gym memberships, discounted lunch and flexible working.
Businesses need to offer more flexible work arrangements
With technology on our side, the days of 9-to-5 are over and the workplace has been re-engineered. Some of the best talent is seeking a more flexible way of working, and employers have no choice but to adapt. Don’t lose out on the best talent because of strict work schedules.
Isle of Man businesses could benefit from hiring more apprentices
Where possible, businesses should investigate the possibility of hiring apprentices or newly graduated/qualified professionals who have less experience. There are much more benefits to this than easing the recruitment process. Apprentices or less experienced candidates are at the start of their career and highly motivated to prove themselves with a leading company, they are already in a learning mindset and open to blending in with your company culture, and it’s great to show that your business is invested in the islands young people.
With new ideas and new recruitment, trends comes a new approach from Ascentiom who look to help businesses aspire higher in a modern environment.
If you’d like to find out more about how Ascentiom can offer a solution to your recruitment needs, You will not be disappointed.
- Aspire higher with Ascentiom.