INDUSTRY TRENDS + INSIGHTS: On value add, strategic hiring and preparing for a busy Q4
The tug-of-war for talent wages on and employers are readying themselves for a busy fall and winter – rethinking retention strategies and prioritizing recruitment efforts, with a renewed focus on quality, fit and experience.
Read on for the latest insights on the job market, hiring strategies and what’s what in the property sector.
Considering a candidate's value add
While there’s been no notable decline in the need and desire to hire (and, in fact, demand is continuing to rise), companies are approaching recruitment with a different attitude than they were earlier in 2022.
Quality is key: Instead of rushing an offer, as tempting as it may be, companies are taking the time to weigh their options and to really consider the value a candidate brings to the table before moving forward.
Counteroffers on the rise: Most candidates know what the going rate is for someone in their position, and they’re not afraid to ask their employer to match that! As a result, there’s been a notable increase in counteroffers as companies vie to keep their best people from leaving for greener pastures.
Do your research: The market has changed (and continues to change!), and companies that offer competitive compensation packages will be more successful in both attracting new employees and retaining current staff. This, and more, is highlighted in our
property + facilities management salary guide.
Productivity under the microscope
Productivity is top of mind at the moment and, controversial though it may be, an increasing number of companies are making the decision to bring their employees back to the physical workspace.
In addition to implementing return-to-office policies, employers are taking a closer look at their team’s performance and determining where productivity is lacking – something that may have been overlooked during the peak of the candidate shortage.
It comes back to quality: companies are thinking long-term. They want people on board with a proven track record; individuals who possess the experience and skillset that will be integral in allowing the business to ride out any issues that might come down the track.
Stand out during Q4
Familiarize yourself with current market standards: What do candidates expect from an employer in a skills-short market? How do your compensation and benefits packages stack up against the competition? It may be helpful to review
salary guides to get a clear idea of what you should be offering in order to remain competitive.
Up your game: Are there areas where you fall short? How can you improve your success rate with candidates? Consider more than just salary – flexible work arrangements, PTO and work-life balance are major considerations for job seekers in 2022.
Do the work to earn a great reputation: At the end of the day, candidates want to work for an employer that they believe in. Make sure you’re open to employee feedback and looking for opportunities to improve your organization from within, providing an environment where your employees feel engaged, supported and empowered.
Chris Chen
Director, Property Group
cchen@impactrecruitment.ca
Rachel Oakes
Practice Lead, Property Administration + Leasing
roakes@impactrecruitment.ca
