In the last 3 years, the job market has changed, and it is not going back to the way it was before. Since the pandemic we have been living in a ‘candidate market’ – meaning that the power lies in the hands of the jobseekers, not your organisation. Despite the financial crisis and the rising cost of living, this has not changed. From Gen X, to Millennials, to Gen Z; all ages of job applicants are demonstrating that they believe life comes before career, and money is not the only reason that they go to work anymore; but why is that?

For the people you are trying to attract, when times became tough in 2020, their jobs, training and benefits were forfeit. It did not matter how incredible their dedication to a company had been, everyone suffered the same. That’s why their loyalty can no longer be bought by a bigger salary alone.

So how do you attract great talent in 2023?

1 – Pay

Yes, remuneration is no longer the only important factor when choosing a new company to work for, but that does not mean that offering an unfair wage and padding it with other benefits is going to lead to a successful hire!

You also need to be transparent about your salary range in your recruitment advert. The candidate could see your unwillingness to be open about renumeration as a reflection of the company as a whole – in other words you will appear secretive and tight with money. So be open, honest, and fair.

2 – Opportunity

LinkedIn surveyed more than 10,500 people who recently changed job and 45% said they moved company over concerns about a “lack of advancement opportunity”. People want transparent progression paths.

To attract top talent, you need to demonstrate that your organisation is a place where people can learn new skills, grow, and reach their goals – whatever those may be.

3 – Balance

Flexible working hours and the opportunity of remote working are still important to the general candidate market as people seek to retain the work/life balance that they have gained in recent years. This does not work for everyone, and there are many roles that cannot support home working, but in these roles there may still room for flexibility. Can people choose when and how to take their breaks? Can people accrue extra time off by putting in more hours? Small degrees of flexibility could be the key to attracting great candidates over your competitors.

4 – Contribution

People want to feel valued and know that they are contributing to something bigger than themselves. If all of the top companies in your industry are offering great pay, flexibility, and progression opportunities, then show what it is about your company culture, or CSR strategy that sets you apart.

If you feel like you are losing the battle for attracting great talent, or you need support and guidance in tailoring the right attraction and retention strategies for your people, get in touch today.