Vacancies – why are they so hard to fill?

With record vacancies in the UK, why is it so hard to recruit & fill positions & what can you do about it?

What’s the situation now?

The ONS has issued the latest job figures for the UK. Between November 2021 and January 2022, there were a record 1.3 million vacancies in the UK. But most industries are finding it much harder to recruit.

Part of the reason for this is that there is stiff competition between organisations who want to land the best talent, with the benefits package offered to candidates becoming just as important as the salary being offered. 

People have also got used to having far more flexibility and autonomy in how and where they work, so places that don’t offer hybrid options are finding it even harder to recruit. 

The cost of living is also having an effect, while wages rose, they failed to keep pace with inflation, so pay showed an actual fall of 0.8% highlighting the pressure being put on households in rising costs. 

Despite these pressures, the economy showed a strong performance with unemployment falling to 4.1%, and the ONS confirming that unemployment is “only fractionally” above where it was before COVID. 

The ONS also said that regular pay, discounting bonuses, grew by 3.7% from October to December, which could be a sign of employers trying to keep the experienced employees they already have so they don’t lose them to the competition. 

What can you do to fill vacancies?

Review your job descriptions

Obviously, the job description needs to include an overview of the role on offer, but look at the language, is it inviting? Ask someone else to look at it – if they saw it, would they think it interesting enough to apply?

Make sure you talk about the things that make your company such a great place to work – e.g., free tea/coffee, lunches, holidays, healthcare etc.

Career Advancement

Most people looking for a new position are doing so because they want to advance in their career so it’s vital that you highlight the potential for career advancement in any job spec/communications.

Employee Referrals

Employee referrals are one of the most powerful ways of finding candidates. No-one wants to recommend anyone to work at the same place as them if they aren’t up to the job. So, it can be a great way of finding quality people.

Get smart with social media

Make sure you’re using your social media channels to best effect. Through social media you can highlight all the great things about working at your company – use current employees and make a short video with testimonials and post that. It can really give potential candidates a real sense of your organisation and hopefully encourage them to apply.

The steps above won’t solve your recruitment headaches overnight, but they will go some way to releasing the pressure and put you on the right path to filling those outstanding vacancies.

If you would like to know more about how we can help you and your business grow, contact us at info@oldfieldadvisory.com or call 02476673160.

Please note: This article is provided for information only and was correct as at time of writing (16/02/22). Any lists and details provided above are not exhaustive and are not intended to be full and complete guidance.  No action should be taken without consulting detailed legislation or seeking independent professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this article can be accepted.