it’s no secret - it’s now a jobseeker’s market
Australia’s unemployment has recently declined to reach a low of 3.5%.
‘The Great Resignation’, or as we prefer to call it, ‘The Great Re-Evaluation’, is showing no signs of slowing down, disrupting businesses at all levels and within all industries.
there continues to be a disconnect between what Australian employees value in a job and what employers offer.
The Randstad Employer Brand Research consistently highlights this expectation gap. While Australians prioritise work-life balance and salary and benefits, Australian businesses don’t always share this view.
In today’s market, having an employer brand that stands out from the crowd has never been more critical, and finding new ways to do this is an ongoing challenge for businesses.
Businesses that don’t act now to align their employee value proposition between what candidates and employees want and what they are willing and able to offer will continue to find it challenging to navigate this re-evaluation period.
to help businesses work through this challenge, here are the three key employer branding trends to consider.
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1. aligning what employees want delivers a hiring competitive advantage
In a competitive job seeker’s market, Australian employers must up the ante to attract and retain the best talent.
Today’s empowered employee is not shy to look for a new role if they believe their employer’s priorities are disconnected from their own.
Areas like work-life balance, salary and benefits and job security are all deemed attractive to jobseekers when choosing where to work.
- Is it time to reconsider what work-life balance or job security looks like inside your business?
- What more could you do to make your business attractive to existing and potential employees?
within our organisation, our ‘Workaway Programme’ is one way Randstad delivers more excellent work-life balance.
This program enables Randstad Australia’s permanent staff to work from anywhere in the world, where Randstad has a presence for up to four weeks annually and can be combined with annual leave. This allows employees to connect trips overseas to see friends and family with work, negating the need to use large amounts of paid or unpaid leave at once.
While offering principal work-life balance, job security and wellbeing benefits, from a business perspective, Workaway delivers team continuity for our customers while supporting our talent acquisition and retention strategies.
Considering creative new ways to stand out from the crowd in the current competitive talent market is critical. This means taking advantage of your organisation’s strengths while being realistic about what you can offer.
2. go beyond remuneration
Businesses that will do well in the war for talent must understand that competitive remuneration is essential to secure and retain the right people for their business. However, it’s not the only important consideration for job seekers and employees.
randstad’s latest employer branding research highlights the importance of training and development opportunities for jobseekers when considering working for a new employer.
It also demonstrates that existing employees, who are offered learning opportunities, are more likely to stay with their employer.
This is important when considering that offering a competitive salary may open conversations with potential employees. It’s not the only factor that will get them through the door and stay with you.
Focus on putting people first and prioritising their career and personal development. It means demonstrating to potential employees what their future could look like with your organisation and what support the company can provide to help them achieve their career goals.
3. collaboration - the key to a successful attraction strategy
The most effective recruitment strategies are those where the best minds inside the business come together and collaborate on what the plan should look like and how this will be rolled out across the company.
As part of this collaborative approach, managers and HR must work together to decide on hiring priorities and ensure these are aligned with the overall business goals and strategies.
The most successful talent acquisition plans have well-defined goals with specific KPIs that benefit the entire company.
While there will always be short-term priorities to fill immediate job vacancies, the best strategies thrive on a long-term mindset and ongoing investment in areas like employer branding, talent attraction, recruitment, and onboarding, as well as the overall employee experience.
For many businesses, putting the employee experience ahead of customer experience may seem at odds with the traditional ‘customer is king’ mindset.
Put your staff first, customers second and shareholders third. It should go without saying, if you look after your people, your customers and bottom line will be rewarded too.
Understanding different employee needs, and identifying ways to authentically deliver to these, while also managing business priorities, will not only help you build a stronger employer value proposition, but it will also help your business build more resilience to changing market conditions.
to understand what Australian jobseekers are looking for
Request Randstad’s 2022 Employer Brand Research, due to be released on 9th August 2022.
- It provides insights into what matters most to employees when looking for a new role.
- It gives employers valuable insights into any actions they may need to take to create a more robust and engaging employee brand.
Click below to find out more.download the report