What recruitment process should you look at implementing to ensure you are attracting and retaining the right candidates to help grow and sustain your business?
This question could not be more topical than it is today.
Candidates are seeking quality of life from their employment, no longer accepting the working conditions pre-2020; the “great resignation” is not a myth, but a fast-growing worldwide reality that is being fuelled by the choice available on the open market.
The continuous job vacancy growth over the past six years for the Netherlands market has been recorded across all sectors.
"The number of new vacancies subsequently rose by 400,000 to 1.4 million in 2021, reaching the highest level ever recorded. The increase was visible in all occupational classes. This is evident from new labour market figures which have been released by Statistics Netherlands (CBS)." Source: https://www.cbs.nl/en-gb/news/2022/23/more-new-vacancies-in-2021-for-all-occupations
Candidates in the Dutch market know they are in a strong position to demand a great work-life balance, choosing organisations demonstrating strong ethics and morals, inclusive directives, and clear corporate policies.
Many Netherlands based organisations offer attractive packages with education stipends and reduced hours to ensure they attract the best candidates on the market.
It is imperative for organisations to address these fundamentals, not only to attract the right level candidates, but to develop and retain your workforce to ensure growth and future success.
Do you consider your workforce your strongest asset?
Once you have addressed your internal structure to promote your organisation, you should also consider reviewing your hiring processes. Is it robust, efficient, or even fit for purpose?
Efficiency is key. Long recruitment/interview processes with multiple testing and difficult panel scenarios can hold a negative impact on your next generation workforce. It’s important to keep momentum of the interview process to ensure a successful outcome.
We hear from many candidates who have entered a difficult recruitment process and cited they have felt “stressed”, “under pressure”, “unable to deliver” and “de-valued”.
Competitors with quick, fluid decision-making processes are often the most successful in attracting and identifying the right level talent.
This hiring process is not just about an organisation considering the suitability of a candidate, but also the candidate considering the suitability of the organisation.
First impressions
Deliver an opportunity that is going to be well received; first impressions really do count:
Growing your reputation in the market will enhance your credibility and attractiveness to invite and retain the future generation workforce you are seeking.
For more support and guidance in streamlining your hiring process, EMEA Recruitment can provide advice on delivering a robust process. If you are interested in finding out more or have any further questions please reach out to David Harper.
As we enter Q2, we have continued to see a buoyant recruitment market across Human Resources and significant turnover within HR teams. As businesses continue to grapple with this challenge, attention has turned to retention strategies and how businesses can keep their talent engaged.
We ran a poll in January asking our network what the most important factor was when looking to retain top talent, with the following options: improved reward package, visible career path, leadership style and culture, and company sustainability agenda.
There was a strong leaning towards leadership style and culture, with many commenting that, if this fails, a business will not be able to achieve the other factors, and that leaders need to listen, hear and act upon the changing needs and desires of their workforce.
There is the feeling that autocratic leaders will lose out to inclusive leaders that show their humility, as well as high levels of emotional intelligence, which has been a critical skill as they’ve been asked to lead virtual and often highly stressed teams over the last couple of years.
Others commented that a focus on work/life balance and wellbeing remained a top trend, and that ensuring interventions were put in place to prevent burnout were essential.
Latest Events
Last quarter, Katie Insley, Associate Director for HR recruitment in the Netherlands, hosted a virtual Q&A session with Bianca Eder, Global Head of TA for Upfield, and Koos Wurzer, Global Head of Employer Brading for Danone.
They shared their thoughts on how the world of Talent Acquisition has evolved with the development of technology and AI. Katie agrees that, while new technologies can streamline processes and hopefully contribute to a positive candidate experience, they can’t, at this stage, substitute the human touch that is still such an important part of the recruitment process.
They discussed the importance of a strong employer brand and Koos shared some great tips on how this can be tackled, especially in an international, multi-cultural environment.
They also discussed that businesses are now having to, more than ever, sell themselves and what they can offer the candidate if they were to join. Hybrid and flexible working arrangements remain high on the candidate wish list, as well as competitive packages and wellbeing initiatives.
We’re always keen to hear from our network about topics you’d like to be covered in future events, so please do reach out if you have suggestions and ideas to share.
If you’d like to see the full session, you can follow this link: https://youtu.be/R9lw3u06ywA
How can working with us exclusively introduce you to the best talent in a candidate-led market?
Over recent months, the Netherlands has seen an increase in hiring and, particularly at certain levels of experience, a decrease in applications to advertised roles.
Consequently, we have moved into a candidate-led market, a market in which candidates are very often in multiple processes at once. Clients can decide to use multiple agencies, thinking they are reaching a wider range of candidates but, in reality, candidates can be contacted by multiple agencies about the same opportunity.
From a company’s point of view, this blurs their value proposition and, from a recruiter’s point of view, can lead to working with speed, rather than in a consultative way. As a candidate, you don’t buy into the proposed role as much and very often there can be less clarity in the process.
With candidates consistently asking recruiters if roles are exclusive, it is clear that using multiple agencies can not only make your value proposition unclear, but also can slow down your hiring process.
With exclusivity (working with only one agency on your vacancy/vacancies), there is a focus on the role, the client proposition and the client brand. This allows candidates to buy into the business and the role, thereby enhancing the candidate’s journey. It can help to ensure you don’t miss out on the best talent for your team.
As part of the Exclusive approach at EMEA Recruitment, we ensure you are being introduced to the best talent in the market, as we:
This achieves an excellent success rate and overall positive applicant experience. To find out more about our Exclusive and Retained approaches, please contact Hannah Mallia: [email protected]
Looking back at the Finance recruitment market in Switzerland in Q1 2022, it is apparent that what looked like it would be a straightforward period of continued recovery took a number of unexpected twists, with the sudden and swift rise in COVID-19 cases, coupled with the unfolding situation in Ukraine.
From a Finance & Accountancy recruitment perspective, the first three months of 2022 continued in a similar fashion to Q4 2021, with high volumes of advertised vacancies in the visible Finance recruitment market - approximately 30% higher than we witnessed in the same quarter of 2021.
Competition for candidates remains fierce, with some candidates securing multiple job offers. These candidates have found themselves in the privileged position of choosing the best option in terms of career development, long-term potential and improved financial package.
Many employers found recruitment difficult, due to a shortage of desired candidates and greater competition for them, and had to adapt their recruitment processes to increase the chances of appointing, often by speeding up the process or by combining - or even removing - some stages.
Hybrid working remains an important factor in Finance & Accountancy recruitment, particularly as the recent rise in positive COVID cases in Switzerland has returned focus to this issue.
The next quarter
Predictions are difficult in the current climate and, although many companies are working hard to support staff in regions affected by recent global events, we have not seen any evidence of a slowdown in recruitment or business planning in Switzerland.
There has been evidence of some companies returning to greater home working on a voluntary basis, but hopefully this is just a short-term impact.
We would like to hear from you
The team is planning to run a LinkedIn Live discussion in May, where a number of HR and Finance professionals from key companies in Switzerland join us to discuss recruitment and the challenges it faces, such as candidate shortages, salary pressures, skills gaps and recruitment difficulties.
Whether you are job seeking or planning recruitment, please send your questions to John Byrne and we will factor them into the discussion: [email protected]
As we enter the second quarter of the year, John Byrne, Country Director, takes a look at the Procurement & Supply Chain recruitment market in Switzerland since the start of 2022…
Another very busy quarter for all involved! I don’t recall a period with such a consistency of topics raising crisis management demands and solutions across the Procurement and Supply Chain disciplines.
With these ever-changing demands placed upon you all, it has maintained a strong and stable need from our clients and candidates alike to support on talent gaps, talent development and general market mapping exercises to help maximise each of our clients' position in their market.
The number of assignments we partnered with clients on last quarter rose sharply, resulting in our vacancy completion rate also rising. Last quarter saw an increase of 23% on the previous quarter, closing our financial year 27% up on last year. This is the seventh successful YOY growth - this represents a consistent desire from our clients here to keep strengthening their teams and their offices throughout Switzerland.
We are now able to get back amongst our clients and candidates again throughout the last quarter on a far more consistent basis than before, with offices opening - and we fully expect this to gain further momentum as we approach the summer period.
This is becoming more and more important as the talent market continues to seek a stable balance between work versus lifestyle desires - something we anticipate will take the remainder of this year to stabilise. Hybrid working is here to stay from the consensus of our network, so we are working hard with both our clients and candidates to understand the most productive methods for both.
If you wish to have a discussion about how this is impacting the middle to senior recruitment market, then please reach out for a confidential discussion: [email protected]
Despite the current working from home restrictions and the rising COVID-19 case numbers, the start of 2022 feels much more positive than 2021 in Switzerland's Finance employment market, as businesses have learnt to adapt to different ways of working and confidence remains high.
Although recruitment slowed slightly in December, it was only to the level that is normally expected at that time of year and the first quarter of the year is likely to see a growth in opportunities available within Finance & Accountancy.
What happened in Q4?
We saw further evidence of the competition for talent and many candidates found themselves in the fortunate position of having a choice of job offers to choose from, including counter offers from their current employer, due to the desire and need to retain talent.
The temporary work from home restrictions raised the subject of hybrid working again and businesses requiring four or five days in the office found that their choice of candidates was more limited. Should this trend continue, then companies recruiting 100% office-based employees will seriously damage the quality of their workforce.
Following on from our market insight article in July 2021 around increasing interest in candidates with strong data visualisation experience, we have seen a rise in the number of employers asking for Finance professionals with advanced skills in Power BI, Tableau and other such packages. When we have identified good candidates with this profile and taken them to market, there has been a positive response, resulting in both interviews and placements.
One of the things that has become increasingly apparent, but over a much longer period of time, is that the continued relocation out of Switzerland of transactional and more junior Finance roles at international companies has made recruiting at this level far more difficult, as the audience for these roles has reduced in size.
What do we expect in 2022?
Businesses have been dealing with change due to COVID-19 for nearly two years, and have introduced new working practices and methods to ensure continued operation and progress. This improved change management capability, coupled with the mitigation of COVID-19 impact provided by vaccines and boosters, suggests that 2022 will be a stronger year than 2021, with more opportunities for Finance professionals.
Competition for staff will remain strong and may result in pressure on salaries and benefits, as candidates have more options available to them.
How can EMEA Recruitment help you?
In a market that is changing quickly, the most valuable commodity to both job seekers and employers is timely and accurate insight. As specialists in Finance recruitment in Switzerland, the Finance & Accountancy team at EMEA Recruitment has this in abundance and is happy to share with both candidates and clients.
If there is anything you would like to know about the market, to either help you plan your next career move or to assist you in recruiting more effectively into your business, we would be happy to talk to you: [email protected]
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