Market Conditions – The change in market conditions and what this means for Employers

Market Conditions – The change in market conditions and what this means for Employers

The employment market in the block management sector has certainly seen some shifts post COVID-19. These are the most significant ones we are experiencing:

More active candidates on the market

The normal pool of candidates actively looking for a new role is very small, making competition high to secure the best hire, although the pool is still small, we have seen more choice available from April – Sept 2020. Those employers that continued to hire through the lockdown period taking advantage of this wider pool of candidates have secured some crucial hires which are now making a difference to their business.

Rise in requests for fulltime homeworking or flexibility to have 2-3 days from home

This has always been desirable for many candidates when looking for a new job and with many having experienced it through the lockdown period, it has become the top priority on many candidates lists of what’s important to them. Candidates want to be managed through results, not hours at a desk and want to see flexibility from employers, many citing this as a problem solver for lower stress levels and focused working. Research conducted by Opinium saw a 45% increase across all sectors.

An increase in the average salary for a Property Manager in London

We have seen Property Managers being offered £45K-£50K with full-time homeworking. This slight jump in salary will and certainly is attracting attention from candidates. To compete with this we advise all employers to look at their EVP (Employee Value Proposition, the salary, compensation and benefits that the employer pays to an employee who’s contracted to deliver skills, experience and productivity that further delivers the company’s business goals, mission, purpose and values) This doesn’t mean you have to match the higher salaries being offered, call us to get consultative advise on other ideas which would mean you still remain competitive in the current market.

Video Interviews are the preferred format for 1st stage interviews by candidates

As employers and candidates embraced technology to continue business as normal during the last six months, we have seen a shift in video interview requests for first stage interviews. The employers that are embracing this shift are seeing a quicker recruitment process and an advantage on securing the best candidates. Those that haven’t, have a slower recruitment process meaning they are losing engagement from candidates.

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