Identifying high performers in an employer-driven market

We have seen a significant shift in the New Zealand job market over the last several months, just one of the many impacts on Covid-19. In short, the number of candidates looking for work is high, the number of jobs available is low, which is resulting in an influx of applications to job roles.

For those of us involved in HR and recruitment, it is clear we are no longer in a candidate-driven market. So, what does that mean? And how can businesses ensure they are not drowning in applications whilst trying to source the best fit candidate for their roles?

This blog looks at the candidate market, the impact on businesses, and how Added Insight’s Gateway screening tool can provide organisations with the ability to significantly reduce the need for manual CV screening, and aid in finding the best fit candidates for each role.

Over the last several months, we have seen an influx of Kiwis returning home to seek safety and security, and subsequently settle themselves down for the time being1. Combined with existing Kiwis who lost their jobs due to Covid-19 related reasons, the job market is flooding with diverse skillsets and experiences. Here, there is an opportunity to leverage the diversity of experiences in the candidate pool and identify those with transferable skills who could add significant value to your business.

However, as companies cautiously come out of hiring freezes2, recent reports have shown that employers are struggling to keep up with the number of applicants flocking to their door3. We’re talking the 11,000 people who lost their jobs in the June 2020 quarter, topped up with the returnees.

Even in June 2020, companies and recruiters were being overwhelmed with the number of applications coming through2. With the wage subsidy finishing up, some businesses will be unable to afford to keep their staff4, so we can only expect this to continue. Add this to the aforementioned 11,000+ and it’s little wonder that many employers are drowning in CVs and applications.

However, in business recovery mode, many managers and employers cannot simply afford to spend time and effort processing applications and candidates. As they say, time is money – so any time spent on CV reviewing is time that you’re not spending on more value-adding endeavours.

There is no doubt that you want to find candidates that are going to add significant value to your business, and there is no doubt that they’re out there. But wading through applications in a flooded job market with a diverse range of experiences and skillsets is a sure-fire way to drown and will not be the most efficient or accurate way to make these vital business decisions. Any miscalculations or errors made in the early stages can result in issues further down the track where candidates may turn out to not fit certain criteria or meet performance expectations.

This is where Added Insight comes in. Our experienced team is here to support you in identifying high performers. In a time when it is especially crucial to be smart with our time and money, you want to be confident in your hiring choices

Designed to take the hard work out of CV reviewing and shortlisting, our tools can help you reconcile the imbalance between candidate numbers and job roles available. These put your candidates to the test and assess their suitability to a range of customisable criteria, including adaptability, customer service, sales, organisational focus, and leadership—the list is endless. Added Insight’s nifty system ranks your candidates to enable quick processing based on objective data and metrics relevant to your company and role requirements. Not only does this save you time and money by removing the tedious and manual filtering of CVs, but maximising accuracy from the get-go means that you are also likely to save costs in the long run when you come to onboarding and training your new hires.

Long story short—if you’re seeing high volumes of applications piling up, or if you’re wanting to streamline your recruitment process, talk to us today. Where jobs are scarce and candidates are plentiful, let us do the heavy lifting so you can get back to doing what you love.