War for talent: how to attract the best candidates to your company?
A study conducted by the Dares, in March 2022, highlights that 37% of the employees are working in a structure facing “a lack of staff or some difficulties to recruit”. This figure can be explained by the fundamental change in the balance of power during the recruitment process. Indeed, the salary itself is no longer enough to attract candidates to a position.
This difficulty in recruiting and retaining candidates is particularly tangible in digital, high-tech and sales jobs, where offers are multiplying. During the Covid-19 period, many companies realized the importance of prospecting and being part of the digitization. These companies, no longer wishing to subcontract, even massively hired professionals to carry their digital projects in-house. “Many employees now carry out their activity from work, in remote work. And a multitude of companies have adopted digital-based business models to maintain their revenue,” according to this OECD report.
The war for talent took over the marketplace
Over the past few months the balance of power has shifted between employer and employee. High-potential profiles have become aware of their expertise value due to the multiplication of job poaching. On the other hand, they have assimilated the importance of working in an environment that suits them. As a result, candidates are now more and more demanding about their working conditions. Salary is no longer enough. To take up a new position in a company, candidates are looking for the best environment and working conditions possible: the perspective of an evolution, an inspiring manager, a good understanding between employees, a good social climate, a CSR approach, and having a real meaning to their days…
Anglo-Saxon economists used the idiom “great resignation”. This phenomenon describes a wave of resignations due to “boredom” or “loss of interest” in one’s job. It has led company managers to make strategic decisions such as changing the profile of the employees they recruit or even increasing salaries to make themselves more attractive. The objective: not letting the best talents leave. The first way to think about this? It’s called employer brand (the attractiveness created by the reputation in a company). An option that American giants such as Google or Netflix have well understood – have you ever heard of the slides in their offices? – and also work on its employer brand in the longer term. The other, more consistent option: using an executive search firm.
Why use an executive search firm?
We often hear about recruitment firms by direct approach without perceiving their practicality. An executive search firm puts companies and candidates in touch with each other, according to the expectations of both parties. This allows for a follow-up and recommendations adjusted to the needs of the employer. It is also an essential time-saver in the recruitment process. The specialized teams offer a service based on a very good knowledge of the business expertise and the markets. This more direct approach allows us to advise and support candidates in the various stages of their professional project. This way, they present to companies only those who will fit perfectly with their vision, ambitions and corporate culture.
Fitch Bennett Partners puts at your disposal a team of professionals in the fields of Executive Search, Career Management and Transition Management. Our ambition: to accompany you, under the impulse of a mastered know-how and a broad knowledge of the business world.