Are We Entering a Client-Driven Market? 5 Strategies That Will Have to Change

The hiring market has been on a rollercoaster since COVID. Post-pandemic, we saw a dramatic shift where candidates held more power than ever before. With job openings skyrocketing across industries, candidates had their pick of roles. Multiple interviews, offers from several companies, and the ability to be selective became the norm.

This was a reflection of a booming economy. In 2021, the UK saw record job vacancies, with the number hitting 1.2 million between October and December, the highest since records began in 2001 (ONS). Employers scrambled to fill vacancies, offering higher salaries, remote working perks, and flexible schedules just to attract and retain talent.

But recently, things have started to shift.

It’s becoming clear that in many industries—even some that were least expected—the power is now shifting back to employers. The number of vacancies is starting to outweigh the number of available candidates, and employers are beginning to hold the upper hand again.

Rather than candidates having their pick of roles, it's now employers who have the choice. They can be more selective, and they no longer feel the pressure to rush the hiring process. This shift signals that we may be entering a more client-driven market.

So, if you’re an employer sensing this change, it’s important to adjust your strategies accordingly. Here are 5 key changes you need to consider in a client-driven market.

Streamline Your Hiring Process

In a candidate-driven market, speed was everything.

Employers rushed to make offers before candidates were snapped up by someone else. But with the balance shifting, you can afford to take more time to find the perfect fit. That said, don’t drag out the process unnecessarily. It’s still important to keep things efficient, especially because candidates will be used to faster interview processes.

Instead, focus on quality over speed. Use this time to refine your interview and selection processes. Consider adding additional interview stages to assess both skills and cultural fit. By streamlining, you create a more thorough yet efficient process that still respects the candidate’s time, while ensuring you get the best talent for your company.

Reassess Compensation and Benefits Packages

During the height of the candidate-driven market, employers often felt forced to increase salaries and offer an array of perks to attract candidates. Now, with the shift back towards employers, the pressure to go above and beyond might seem less urgent. But here’s the key—don’t lose sight of the importance of competitive compensation.

Even if you have the upper hand, the last thing you want is to attract talent only to lose them shortly after due to non-competitive pay or lacklustre benefits. Instead of cutting back, focus on creating packages that truly align with long-term employee retention. This could mean focusing more on development opportunities, mental health support, or benefits that offer real, long-term value.

Focus on Employer Branding

In a client-driven market, companies often assume that they no longer need to focus as heavily on their employer branding. But this would be a mistake. Even if you’re in a position to be more selective, a strong employer brand helps you attract the right candidates and stand out from competitors.

Don’t get complacent.

Continue to showcase your company’s culture, values, and unique selling points through your online presence and social media. Share stories about your employees’ experiences and highlight what makes your company a great place to work. A strong brand will help you maintain a steady flow of top-tier talent, even if you don’t need to fill roles as quickly.

Rethink Candidate Communication

In a candidate-driven market, companies often over-communicate with candidates, eager to keep them engaged and avoid losing them to another offer. In a client-driven market, there’s a risk of becoming more passive with communication, especially if you know you have the upper hand.

However, clear and consistent communication remains essential. Candidates still expect updates, and radio silence can leave a bad impression. Even if you’re taking your time, keep candidates informed about where they are in the process. A professional, respectful hiring experience will help your company maintain its reputation and avoid any unnecessary candidate frustration.

Use External Recruitment Agencies

Even in a client-driven market, where you might feel like you have more choices, it’s worth considering external recruitment agencies to enhance your hiring process. Why? Recruitment agencies are specialists in their field and bring a wealth of knowledge and expertise that can help you find top talent more effectively.

With their industry-specific insights, agencies can sift through candidates more efficiently, identifying the best fit for your business. They also have access to a larger, often hidden, pool of talent that you may not reach through traditional channels. This can be especially valuable if your internal recruitment team is stretched thin or if you're hiring for specialised roles.

By partnering with an agency, you streamline the process while benefiting from their expertise—ensuring you don’t waste time on unsuitable candidates and ultimately making better hires for your business.

- Written by Oliver Howson

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