RECRUITMENT – A CURRENT UPHILL BATTLE
It is not always easy to recruit and find the right competencies in a candidate. This is a reality we have lived with for a while, but it is especially true today. According to Svenskt Näringsliv (2022a), 70 percent of the companies in Sweden have difficulties recruiting.
As many as three out of ten recruitment attempts failed in Stockholm County during the second half of 2021 (Svenskt Näringsliv, 2022b). The situation applies to all available competencies, including individuals with higher education (Svenskt Näringsliv, 2022c). At Insource, we have observed the problems ourselves. Our clients tell us about drawn-out recruitment processes and the difficulties in finding candidates within business and finance. Candidates with the right experience, competencies, and ability to keep up with a rapid pace of change – that also are willing to change jobs at the moment.
Many chose or were forced to move jobs during the pandemic, and most professionals who wanted to change employers in 2022, did so after the summer (Lisa Gunnarsson, Country manager Nordics LinkedIn, Chefdagarna 2022). With inflation, higher interest rates, and a general sense of uncertainty in the market, it seems that people, rather than changing jobs, choose to sit tight for a while.
Recruiting business and finance professionals in a “normal” situation can be both difficult and time-consuming, but notably so today when many are unwilling to leave secure employment. So where does that leave the companies that scream for new competence? Companies, unfortunately, turn down business, according to Svenskt Näringsliv (2022b).
Bridge the competence gap
Reorganization is an option to bridge the competence gap, a path that we see some companies take. Changing organizational structures and moving around tasks and responsibility areas can be a way of approaching and solving the problem. Even a great one if you have the time and resources to spare. There may be employees that cannot wait for an opportunity to take on more and show what they are capable of.
Or do you choose to see the market uncertainty and current difficulties in recruiting as an opportunity to bring a flexible resource to the organization with competencies suitable for the moment and situation? Until you see the outcome of the prevailing uncertainty and the labor market starts moving again? A permanent solution for a company that has lost competence is not always the most beneficial option. Sometimes, during change and uncertainty, competency needs are temporary. What you need today may not be exactly what you need in say, six months.
Gunnarsson, Lisa. (2022). Klamra sig fast eller passa på? LinkedIn-chefen läser av algoritmerna och ger oss den senaste datan, Country manager Nordics LinkedIn, Chefdagarna 2022-10-12.
Svenskt näringsliv. (2022a). Växande rekryteringshinder ett allt större problem, Rekryteringsenkäten 2021/2022. https://www.svensktnaringsliv.se/bilder_och_dokument/rapporter-Rekryteringsenkaten.2021-22.pdf
Svenskt näringsliv. (2022b). Tre av tio rekryteringsförsök misslyckas i Stockholms län, Retrieved 2022-10-17, from https://www.svensktnaringsliv.se/tre-av-tio-rekryteringsforsok-misslyckas-i-stockholms-lan
Svenskt näringsliv. (2022c). Rekryterings-vd: rekordbrist, Retrieved 2022-10-17, from https://www.svensktnaringsliv.se/rekryterings-vd-rekordbrist-pa-arbetskraft.html