Employers are finding it increasingly challenging to hire candidates in today’s tightening talent pool where competing companies often battle it out to secure the most sought-after individuals. Unsurprisingly, it’s never been more important for recruiters to understand exactly what makes modern job seekers tick (and it might not be entirely what you’d expect).
Shifting focus towards work values
While new Australian research by Indeed showed financial remuneration was one of the most important factors for job seekers considering a new opportunity (60%), a clear understanding of work-life balance was deemed of almost equal importance (58%). That’s right, recruiters need to be aware that an organisation’s work values are playing an ever-more critical role in a candidate’s job search process.
Entrepreneur and recruitment expert, Ruby Lee, says “Candidates have so much choice in what sort of cultures they get to work in. So, it’s about making sure candidates can get a clear picture of what it’s really like to work inside the company”.
As top salaries slip further down the list of ‘must-haves’ for job seekers, employers will only distinguish themselves in the market by responding to the shift in job seekers’ attitudes and how this is playing out in a tech-driven, online world.
Indeed research showed almost all (96%) job seekers read online reviews about a company they’re considering, which means candidates are demanding to know much more about the inner workings of a company than simply what a job entails. In fact, a company’s online reputation is of such critical importance to candidates’ decision-making process that almost 8 in 10 (79%) job seekers say they’re sceptical about job opportunities when an employer doesn’t have an online reputation.
Building an online reputation
Developing a strong online reputation with work-values that appeal to modern job seekers is essential to standing out as an employer of choice – so much so, there’s a clear correlation between the availability of information and trust in an organisation. Indeed research found almost two-thirds (64%) of job seekers are likely to focus on a company where they have access to positive information online.
“Companies should set themselves apart in the online space by utilising their different platforms to demonstrate values, such as their website, talking about values on social media or creating blogs and posting content online – they’re all great ways to be more authentic and real, and it helps both recruiters and candidates get a better insight into a company’s working culture,” says Ruby.
“Showing photos of team gatherings and explaining the award and recognition programs running inside the business are just two of many ways companies can showcase their values.”
To help companies bolster their online reputation and increase transparency, Indeed recently launched its Company Pages premium service to employers across Australia, which gathers insights on company performance and culture through reviews, ratings and other information. In 2018 alone, Indeed’s Company Pages were viewed 1.5 billion times – a clear indicator of job seekers’ strong focus on company reputation.
What are employees looking for?
But the question is, why is online reputation so important and what are job seekers looking for? Research by Indeed found that 43% of candidates think reading positive reviews about company culture and how it treats employees is important in helping develop a positive connection with the potential employer. In fact, it’s often reported that today’s employees are much more fastidious with their career decisions because they want to feel a sense of pride from their work and the organisations they represent – it’s what keeps them engaged.
Ruby says, “Important work values can range from things like honesty and respect among employees and accountability to flexible working policies and recognition.
“Different values mean different things to different people, but flexibility, as a value, is a huge player right now. For example, flexibility might be crucial for someone who wishes to study alongside work or for someone balancing parental responsibilities.
“On the path to deciding what values are important, companies should carefully consider the type of candidates they’re after. For example, helping people to develop their careers might be important for attracting candidates who want to remain loyal and grow within an organisation”.
Recruiters are instrumental in matching candidates to roles
As the culture of transparency grips the modern labour market, the online world will no doubt take centre stage as the primary ‘go to’ for information and insights as employers continue to share stories and build their brand. But, while online presence is a key factor in an applicant’s decision to apply for a role, companies must still be able to authentically demonstrate how their values play out in real life in order to win the best talent. Beyond a candidate’s initial research, recruiters will be instrumental in helping candidates verify available information and matching them to employers that share similar values.
“Recruiters must understand what advertised values really mean to an organisation, so they should ask hiring managers ‘how does that value play out in your team and how is it brought to life every day at work’?
“It’s also important for recruiters to get to know the hiring manager and the real company culture – rather than just the job itself. It’s about gaining that holistic picture so you can accurately match the candidate with the best fitting company culture,” says Ruby.
With more than 15 years of experience in the recruitment industry, Jay Munro has worked in a variety of roles in agencies and job boards, from consulting and recruiting, through to leading the product development of new sourcing technologies. As an Employer Insights Strategist with the Indeed Employer Insights Team, Jay pairs platform data with industry trend analysis to share Indeed’s story and bring the value of the company’s programs and solutions to life.