Insights

Successful Hiring in an Evolving and Competitive Market

Successful Hiring in an Evolving and Competitive Market

Over the last quarter, we have seen 14% inflation in the Netherlands. However, we have seen a buoyant market, despite a rather unstable financial climate.

Even with the cost-of-living crisis, hybrid vs. office debate, and a looming recession, we are still seeing candidates change roles.

It is still a candidate-driven market, so companies are having to put forth a strong value proposition to attract the right talent.

  • Is your business financially in line with the market?
  • Are you offering the right benefits?
  • Do you need to re-evaluate your recruitment process?
  • How is the candidate’s journey?

These are all questions businesses must answer before entering the marketplace.

There is a growing concern in the market, due to inflation, which has caused a rise in salaries. Businesses may have to offer competitive salaries outside of their yearly reviews to current staff for retention, alongside competitive pay to attract new staff.

Candidates are also looking for a business that can offer career development and provide a flexible working environment, which allows for a good work-life balance. Therefore, hybrid working is key to successfully retaining staff.

Recommendations:

  • Make a clear choice - Is your compensation in line with the market and/or does your business have enough differentiators to compete with the marketplace?
  • Career development – Are you creating an environment where candidates can grow and progress their career?
  • Flexibility – Since the pandemic, the market is not just driven by high compensation, but also hybrid working.

EMEA Recruitment support

EMEA Recruitment is focused on working closely with both passive and active candidates. The aim is to ensure that we are clear on the drivers and motivators for candidates to move. This way, we are sure that the candidate we put forward for your roles are aligned with your value proposition.

Currently, most of our roles are filled through the headhunt approach, with candidates who may not be currently looking for a role. This success results from the insight we gain into our candidates’ longer-term aspirations.

Our focus:

  • Career consultation and advice – Understanding the vertical and horizontal growth of candidates.
  • Focusing on the employer and candidate journey – Understanding the timeline of the recruitment process to maximise chance of securing the ideal candidate.
  • Understanding what makes a candidate stand out.
  • Understanding a company’s value proposal and what makes a potential employer unique.

For more information on our approach, please contact Michael Bentil, Senior Consultant, in our Finance & Accountancy recruitment division in the Netherlands.

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Q1 2023: Finance Recruitment Market Update - Switzerland

Q1 2023: Finance Recruitment Market Update - Switzerland

As we enter the New Year, Mark Robinson, Associate Director in our Finance & Accountancy team, shares an insight into the Swiss Finance recruitment market...

First of all, Happy New Year to everyone. We hope that 2023 brings you good health, happiness and success.

The New Year begins with far greater confidence than in 2022, due to the control achieved over COVID-19 and, despite some current market challenges, the economy in Switzerland remains positive, particularly compared to European neighbours.

Inflation is expected to reduce to 2.4% (source: Swiss National Bank) and the country will continue to achieve growth in 2023.

Finance recruitment market

There is traditionally a lull in recruitment in December before an increase in activity in January. This means that companies find recruitment difficult in January, due to the higher level of competition.

However, in 2022, the market was busy all the way up to the festive season, with many companies continuing try to attract talent in a typically quiet period.

We undertook significant research in the last quarter of 2022 about the methods that mid to senior level candidates use when job seeking. This confirmed that professionals find direct job applications an increasingly inefficient and impersonal way to secure their next career move.

We heard strong preference for securing a new role through a recruitment consultancy or through a known network, which partly explains why so many companies are struggling to attract the talent they desire through simple advertisements.

The competition for quality candidates remains strong, with companies struggling to attract interest from the passive market. This is where EMEA Recruitment provides the most value, being able to use our network and market knowledge to ensure that the best - and most suited - talent in the market is made aware of opportunities that fit their career goals, even when those individuals are not actively engaging with the recruitment market.

Market shortage/pressure point

In 2022, one area where we started to see increased recruitment activity at large companies was in Environmental, Social and Governance (ESG), as the new reporting regulations came into effect.

As a new field of reporting, there are very few candidates who already possess this experience, so those individuals are likely to have a wide range of opportunities to choose from in 2023.

Is ESG an active area of recruitment or interest for you? If so, please get in touch. We would be happy to provide further information and share thoughts from the wider market about this subject.

Hybrid working – follow-up to Q4 2022

In our last newsletter, we discussed how hybrid working has brought many positives to the workplace, but has also resulted in some challenges for both employers and employees.

We have seen some pushback against working from home in the USA, most notably at Tesla and Twitter, but also some other companies in the tech sector. However, the vast majority of businesses are still very much on board with developing their strategies to make hybrid working as effective as possible.

We recently ran a LinkedIn poll to ascertain our network’s latest thoughts about hybrid working, as shown below:

What do you think are the biggest challenges associated with hybrid working?

  • 60% - Maintaining company culture
  • 26% - Onboarding is more difficult
  • 11% - Ensuring consistent policy
  • 3% - Identifying top talent

Will the challenge of maintaining company culture lead to changes to career development for candidates in the future?

Instead of staying with a company and progressing, these results suggest people are likely to move more regularly, as they are less engaged with their employer.

Those with a significant length of service at one company and a number of promotions on their CV/resume are typically the most desired candidates in the market. If individuals are less engaged with their employer, we are likely to see shorter tenures at companies in the future, so the most desired CV could look very different.

Summary

We are all used to a marketplace that changes quickly and can be affected by a range of global factors, but that does not make recruitment any easier. Switzerland is in a much stronger position than many of its neighbours, so we expect to see another exciting year of recruitment and new opportunities coming to the market.

If you would like to discuss your own career or are recruiting into your team, we would be happy to speak with you. Please contact Mark Robinson: [email protected]

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Q1 2023: PSC Recruitment Market Update - Netherlands

Q1 2023: PSC Recruitment Market Update - Netherlands

2022 has undoubtedly been a time of reflection and change, and quarter 4 continued this trend.

We saw the increased demand for Logistics specialists within Procurement & Supply Chain and the emergence of new standalone categories in energy/utilities.

The current crisis in Ukraine - and the ongoing geopolitical influence across Europe - is having far-reaching effects.

Supply Chain has had a relatively smooth ride since its adoption in the late 70s with the introduction of Just in Time (JIT) methodology, created by Taiichi Ohno for the automotive industry (Toyota).

However, are we seeing the end of it? Logistics is a critical player in the success of the JIT process. Unfortunately, due to the rising cost of fuel and the lack of available drivers across Europe, it may not be sustainable.

What is the alternative?

Digitalisation is the apparent solution. However, are organisations willing to spend the money on implantation and development? This will not be a quick fix; another obvious answer may be Just in Case, which is very much the opposite of JIT.

Unless you have a crystal ball, we need to embrace multiple solutions, and digitalisation must be part of this discussion. Data is crucial in an ever-changing world, and systems must be more robust and versatile to external effects.

Change in the market

From a recruitment perspective, we have continued to see an evolving market again, driven by geopolitical influence and the rising cost of living.

Change is positive. It creates both opportunities and growth. EMEA Recruitment has adapted to these changes by continuing to listen and learn. Q4 saw the expectations of candidates change drastically, from wanting work-life balance in August (EMEA poll of 120 candidates) to salary negotiations in October. Now, the overriding message is job security.

From the aftermath of the Christmas rush - particularly within the FMCG sector - we will continue to gain valuable insight into the market. Organisations certainly recognise the vital role Procurement & Supply Chain plays in the overall success of a business and is no longer just a cost centre.

EMEA Recruitment are keen to support candidates and organisations in their ongoing development and transformation. For further infomation on how we can support you, please contact, Richard Bailey. We wish everyone good fortune for 2023 and look forward to what the year has to offer.

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Female Leadership

Female Leadership

Female leadership is probably one of the most talked about topics in multi-national businesses today. We are seeing in the market that companies, as part of growth plans, quote that they are looking to increase female leadership, but are falling short of their target percentages.

This begs the question: are women not being offered equal opportunities, or are they more hesitant to put themselves forward?

EMEA Recruitment held a recent study to see how many men versus women would apply for the same role by looking at the job description. The results show that only 30% of women had applied for the role. The main reason was that women look to tick almost all the boxes required for the position, whereas men will apply if they tick around three to four requirements.

In Europe alone, almost half (46%) of women are employed, while just 35% of those were managers (as of 2021).

Another statistic from Catalyst shows that, among the largest publicly-listed companies in the EU in 2021, only 20% of executives and 8% of CEOs are women.

The key questions

  • Is discrimination happening due to women starting families, causing a generational gap in female leadership?
  • Do women find it hard to return to leadership roles after taking a career break to raise a family?
  • Are certain industries more forthcoming with female leaders than others?

Adapting the “Rooney Rule”

Several companies have now implemented a version of the National Football League’s Rooney Rule, which requires any team hiring a head coach to interview at least one minority candidate.

One business created a requirement that half of the final candidate shortlists for any executive positions must be women; in the last two years, the proportion of women on the executive team has risen from 25% to 40%.

In summary, female leaders can find their strength, express their voice and apply their talents when given these opportunities. They can also shape the conditions for others, supporting and influencing the systems that make the world welcoming to women’s contributions.

The progression of women in the workplace – and in leadership – isn’t just a women’s issue. It is an issue for all of us, so we can build communities in which we tap into the very best from each of us.

Here at EMEA, we provide our clients with relevant market information in a consultative approach - topics are also discussed through our roundtable events with clients. EMEA’s inclusive recruiter approach to each search means we have a deep understanding of the candidate and employer's expectations and needs.

If you’d like to discuss how we can help you build diverse teams, please get in touch with Hannah Mallia

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Q4 2022: Finance Recruitment Market Update - Switzerland

Q4 2022: Finance Recruitment Market Update - Switzerland

As we begin the final quarter of 2022, one thing is for certain: the rate of change and challenge has not decreased in the last three months, but the Finance recruitment market remains extremely strong, with high levels of competition for candidates.

Candidate market

The unemployment rate in Switzerland remains low, at 2% in August 2022 (source: State Secretariat for Economic Affairs). This is a sign of a positive and stable economy, but also a factor in why some Finance roles are proving difficult to fill, as most people who were displaced during the pandemic have secured positions.

Highlighting a key shortage – Accountant and Controller level

Many companies have reported greater difficulties when recruiting for roles such as Accountant or Controller. One of the key reasons for the candidate shortage at these specific levels has been the move to remote shared service centres, which has reduced the flow of people entering the Finance & Accountancy profession in Switzerland.

The impacts on recruitment are:

For recruiters:

  • Traditional recruitment methods are not delivering success
  • Individuals who began their careers in 2020 have only ever known hybrid working, so this is a key factor in their decision-making
  • Employer brand and a relevant benefits package is extremely important
  • Recruitment processes are often not matched to the desired audience
  • Roles requiring languages in addition to English are significantly more difficult to fill  

For job-seekers:

  • High demand means greater choice of opportunities
  • Rising salaries
  • Changing job can be achieved quickly
  • Benefits and working conditions may be open to negotiation
  • Counter offers are being offered more regularly by employers

Counter offers made to candidates to retain staff in this competitive market include: higher salaries, enhanced hybrid working arrangement or even fully remote working.

At EMEA Recruitment, we share market insights with our clients before developing tailored recruitment campaigns that generate interest from the desired audience and lead to successful appointments.

In the current climate, an increasing number of clients are choosing to work with us on a retained basis, to ensure they are at the forefront of the battle for talent.

If you require help to recruit, please get in touch and we will gladly share market information. Please reach out to Mark Robinson: [email protected].

If you are considering your own career path, there is no better time to speak to an expert and ensure that you have access to the right opportunities.

Hybrid working – how does it impact recruitment and onboarding?

Experienced Finance professionals have reported finding it harder to integrate into a new company, primarily because of the lack of time spent physically in the same location as their colleagues and peers. Many people at this level are happy to spend more time in the office, particularly during their learning curve.

Individuals who began their careers during COVID have only ever experienced hybrid working (initially more heavily home-based due to lockdowns), so are used to spending less time in the workplace.

When we are working with a business, we make sure that we fully understand the hybrid working requirements of both client and candidate from the outset, to ensure a smooth recruitment process with clear understanding on both sides, and work with both parties to achieve the right outcome.

Once employment commences, we maintain contact with both parties to help with the onboarding process and maximise the chances of a successful appointment.

Future impacts of hybrid working:

  • Are hybrid policies consistent across existing and new employees?
  • Is it as easy to identify good performance and potential for internal progression?
  • Does hybrid working lead to less engagement and feeling of belonging at a company?
  • Will average tenure in companies decrease if people are less bought in to their employer?

We will be running a series of LinkedIn polls to gain further insight into some of these topics. We hope that you will participate and enjoy reading the results in our next newsletter.

Summary

Having access to current market information, whether you are hiring or job seeking, is more important than ever before.

If you would like discuss your own career situtation or hiring into your team, we would be happy to speak with you: [email protected]   

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Are you Investing in a Diverse Workforce?

Are you Investing in a Diverse Workforce?

With DE&I on the agenda for both employers and employees, companies around the world are focusing on developing their diverse recruiting strategies, therefore, good practice of hiring candidates under a process that is bias free is paramount.

Diverse recruitment should be aimed on finding the best possible candidate, regardless of a person’s background, and with equal opportunity given. Having diverse teams can contribute to newer and more varied ideas, resulting in companies being more innovative, creative and, overall, achieving better results.

It's also important to note that diversity in the workplace is not solely focused on business results and performance, but equally on building teams from qualified candidates, irrespective of their age, gender, background, race, religion or sexual orientation - this is long overdue and a step towards true equality in the workplace.

Diverse recruitment has many tangible benefits for performance and productivity, such as a broader range of skillsets, increased language and cultural awareness, and a more varied candidate pool.  

“Research from McKinsey & Company shows that the most diverse companies are also some of the most profitable: those in the top quartile for gender diversity on their executive teams were 21% more likely to experience above-average profitability than companies in the fourth quartile. As far as cultural diversity goes, companies in the top quartile were 33% more likely to have higher profitability than their less diverse counterparts.”
https://www.moonworkers.co.uk/blog/5-reasons-why-a-diverse-workforce-is-beneficial?gclid=Cj0KCQjwjvaYBhDlARIsAO8PkE31_jm8-HoPOUQGnEg7sHGlB8KR652Gys0JsIYi8l5k3aim2cxfaQYaAqc8EALw_wcB

When recruiting with a diverse strategy, it’s crucial to measure the metrics of your hiring process. Understanding what your company is aiming to achieve in its recruitment and appealing to a diverse demographic is an effective way to encourage a wide range of applications.

So, how can you encourage such applications?

Tips on diverse recruitment

  • Audit your previous vacancies and make the necessary changes that will appear to a wider, more diverse audience - make sure the language used isn’t masculine, feminine or aimed towards a certain qualification level, seek to be more inclusive in the wording so as the vacancy can appeal to candidates with different backgrounds
  • Source candidates from different platforms - LinkedIn is one of the best tools to use for sourcing, but do not rely on the same channel to find your diverse candidates, as simply using the same platform, time and time again, can result in a similar talent pool and potentially lack in diversity
  • Ensure there are equal opportunities at screening - are the applications you receive anonymous? Are your pre-screening methods blind? Does your ATS system have the technology to flag or filter specific skills and experience? All the above will help you to remain free from bias throughout the recruitment selection process
  • Boost your employer branding - displaying your employer brand that naturally values its people and opinions from all backgrounds can be appealing to diverse candidates
  • Review your policies – company policies that appeal to a wide range of people demonstrate that diversity is valued and embraced as part of the company culture

Diversity recruitment is based on talent and merit, encompassed with ensuring measures are in place to reduce bias when selecting the right candidate. To ensure you have a strong diverse recruitment strategy, do take the above into consideration. 

We have noted a significant increase in payroll vacancies, particularly within the manufacturing and company software development industry over the past three months. These larger, multi-national companies have found such roles more difficult to recruit for, thus turning to external support.

If you require recruitment support for your difficult HR roles, contact our international Associate Director, Katie Insley, on [email protected] or +31 20 241 73 66, who can discuss with you the services she has provided to previous clients and how she can support you with your recruitment needs.

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EMEA podcasts

The EMEA Recruitment podcast welcomes guests from across our network and beyond to share their career journeys, advice, and inspirational stories. 

EPISODE 167

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We were delighted to welcome Terhi Nori, Global Lead for Project Workstream at ABB, onto the EMEA Recruitment podcast. “We create our own journey and our own story… it’s just a

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Executive Interviews