Money is always a great motivator for candidates seeking to change jobs. However, it is increasingly evident that a high salary is not sufficient. Rather, the key to attracting and retaining talent in this market is finding additional ways to incentivise existing employees to stay and prospective candidates to join the company. Two factors that candidates consistently emphasise are company culture and the existence of career development opportunities.
In regards to company culture, most candidates desire a workplace in which they will “fit in”. This includes feeling part of a team and working alongside individuals that they respect and may learn from. Work/life balance is another significant consideration. In fact, a lack of work/life balance is often cited as a key motivator for moving jobs. The team activities and social events offered by firms are also highly valued.
The key to recruiting quality talent in this candidate short market is highlighting how a company and the particular role on offer are unique. This arises as most quality candidates interview for multiple roles. Thus, to compete against their competitors, firms must emphasise the unique training opportunities on offer and highlight how a role will benefit a candidate’s long-term career.