How does your organisation stand out in a talent short market?

Anica Weereratne • May 11, 2021

In case you haven't heard: the job market is currently booming with HR opportunities across all industry sectors. In the last seven days, there have been nearly four hundred HR roles advertised in Melbourne on Seek alone. March 2021 saw the highest number of ads posted in Seek’s twenty-three-year history whilst also having the lowest applications per ad since 2012. The candidate market is extremely passive at present which is demonstrated in the low numbers of ad response that us, our competitors and our clients are all experiencing.

 

With this in mind, the candidates that are active in the market currently have a broad range of opportunities and can be very selective about what they pursue, and almost every candidate we are meeting is interviewing for multiple roles or already fielding multiple offers.

 

With all of these factors creating a true war on talent, it's now more important than ever to think about what differentiates your opportunity and your organisation. 

 

Why work for "us?"


The concept of an Employee Values Proposition is not new, but it is now more important than ever to think about your unique internal offerings that attracts, engages, and retains top talent for your business. When done well, an EVP can also elevate your employment brand, thereby making your business a more desirable place to work.

 

This can be a big drawcard for potential new employees — especially as many candidates are prioritising a business whose goals and values align with theirs. Before even putting through an application for a role, candidates will do their research on the company, leader, and team so having a solid and defined EVP means that you are making a first impression that will last. 

 

Benefits — more than just a number!


While the market is becoming tight for talent, salaries are certainly creeping up to try and pip the competition at the post. However, salary is not the only motivator for great talent. Candidates are wanting to know more about the broader benefits that an organisation will offer: for example, supplementary compensation (eg. gym memberships, health insurance), Diversity and Inclusion initiatives, parental leave, volunteer days, and more. What stands out even more are organisations that can demonstrate their offering of clear, structured development pathways and training opportunities. I have spoken to many stand-out candidates who are willing to take a sideways step if an organisation will empower them to learn, provide them with opportunity, and nurture their careers. 

 

Feedback is fab!



A candidate’s experience while going through your company’s recruitment process always matters, but now more so than ever. The impact of COVID-19 on the job market in 2020 has reignited the conversation around the importance of the candidate experience in engaging talent. The biggest pain point always comes back to feedback — or rather lack thereof. Candidates will always recall a poor experience where they didn't hear back from an application, or even worse, have been ghosted after completing a face-to-face interview. By providing timely, meaningful feedback, candidates are more likely to apply for different roles in the future and speak highly of their experience to their friends and networks. The Circle Back Initiative was launched last year and asks its members to commit to responding to every application in 2021. This is a fantastic pledge taken by over fifty organisations (including The Next Step!). 

 

With the current market challenges, it's important to also keep the candidates who are progressing along informed and engaged with regular contact points as this could be a key differentiator while they are interviewing for multiple roles. 

 

While I'm sure that nothing I have highlighted in this blog is ground-breaking, getting the basics right can be a great starting point and will make an impact in hiring the best talent for your organisation.

 

What is your organisation doing to be bold and different to stand out in this talent short market?


Author: Anica Weereratne   Date published : 11/05/2021

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Anica Weereratne • May 11, 2021

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