Sinéad O’Donnell (DO Recruitment Advisors): Recruitment post-pandemic, the challenges
We’ve seen the recruitment market rocket in Luxembourg in 2022, as we emerged out of the pandemic. We’ve seen the “Great Resignation”, and the “Quiet Quitting” trends, powerful demands from job seekers, employers appeasing, the war for talent, the word “flexible” modified beyond recognition, work/life balances redefined, staff turnover peaking, and salary demands pushed to the extreme…
How can companies (and Luxembourg) attract candidates to Luxembourg?
Luxembourg’s appeal in 2022 faltered slightly, as teleworking opened doors to more exotic destinations and competition for talent from other countries heightened. But although it weakened, we saw that it could still stand its ground in an international context, and the Luxembourg branding mill continued to reap its benefits. The challenge for employers is to entice top talent, and those with a strong market brand and a strategic use of social media are always the winners. Post-pandemic we saw a need for change and for flexibility. People want to work for companies with strong core values, that take sustainability and environmental issues seriously. Flexibility is king, teleworking a given, exciting and innovative perks are crucial, and an attractive base salary a must. Candidates want to bring added value to their job; they need to see what they will get from the job and conveying what is on offer through various communication platforms and networks is key to attracting talent.
“A company is only as good as the people that they hire and to be the best at what you do, getting the right people in the right job should always be your priority.”
How can companies reduce their staff turnover?
As a recruiter “why do you want to change jobs?” represents a question that we always ask, and currently the answers are often salary and package related. We are seeing candidates receive 30% increases on salary when changing job, making it a difficult market for employers. But there is a lot more than salary in question. When a company listens to its employees, to find out what is important to them then if all other components are in place, it seems unlikely that the employee will leave just for salary alone, as long as their salary is within market range. As we know, flexibility is key post-pandemic, as is the ability to telework and empowering employees to manage independently. Having a fair and good leadership team, a good team spirit, strong communication and company values that are in line with the employee’s own are of utmost importance. Reviewing job descriptions, bringing variety, challenges, value and personalising the role, as well as promoting internally are also important. Hiring the right person for the right job is essential; companies can often hire overqualified individuals for the task at hand. People need to have something to aspire to.
How can HR help companies grow?
The Human Resources department is the heart of any organisation. Having a strong HR culture is crucial to the long-term success and growth of a company. We feel that HR is all too often regarded merely as a cost centre, but we’ve seen that the best companies have a well-organised and strategically effective HR department. A good HR team will have a sound recruitment policy, with a rigorous diversity and onboarding programme in place, and a good ongoing reward, recognition and retention scheme. Listening to individual staff members and understanding their concerns and aspirations, and knowing their motivation and drivers is essential, and annual appraisals are a good starting point for this. HR can ensure that a company gains a reputation for having engaged, motivated and happy employees, and this is only achievable when HR works in sync with a strategic leadership team to shape the organisation - this can propel a company to its greatest possible success.