Throughout the early stages of the COVID-19 pandemic connecting remotely and video conferencing was a means of survival for many businesses. The sudden switch to remote working has presented a rare opportunity for the recruitment industry: as flexible working takes a front seat, recruiters have been given a chance to reshape the recruitment process.
The benefits of remote working have been made abundantly clear, and forward-thinking companies are capitalising on the perks. Some organisations have opted to end their office leases entirely, while others have chosen to keep certain departments working remotely for the long term. As more companies embrace flexible working policies, they open the door up to greater opportunity. With no geographical limits, recruiters have access to a much larger pool of talent and thus a wider range of skillsets. Companies will no longer be limited to candidates who live close to their offices.
In the past, technological limitations have been a barrier to remote working. Companies feared that productivity would dip if they adopted a flexible working policy. However, 2020’s adversities are a testament to the fact that teams can remain productive while working from home. When the stay-at-home order was announced and job interviews abruptly changed from in-person to online, virtual recruiting and onboarding kept the hiring process moving forward. Since then, talent acquisition has been increasingly digital. We can communicate with remote teams instantaneously and schedule meetings and interviews using Zoom, Skype, Google Meet, and Microsoft Teams.
As lockdown restrictions have steadily eased, job recovery within the Accountancy and Finance sector is on the rise. Employers are prioritising their hiring initiatives, and the recruitment industry is undergoing a massive shift as many realise that traditional hiring methods are often slow and inefficient. Due to the associated cost savings and reduction in time-to-hire, a blend of virtual and in-person hiring techniques is expected to be the way forward for the industry.
Video conferencing will remain a great asset in the post-lockdown world – it will be a vital tool for recruiters to get to know their candidates, assess core competencies and establish organisational fit. For many organisations, hybrid models of remote working are here to stay. Disruptive recruitment trends will continue to emerge, and recruiters should focus on delivering a seamless omnichannel experience in their talent attraction and recruitment efforts.
At JSS Search, we have seen a 33% increase in the volume of Finance roles listed now versus this time last year. The market is quickly picking up, and London is visibly busier as many make a return to the office. Flexible working will always be a part of the new way of working; however, we are seemingly going from strength to strength as we look forward to 2022. According to the UK Office for National Statistics:
These statistics illustrate that the easing of lockdown restrictions has led to growth across all sectors. There has been a recent surge in recruitment activity, and consequently, a sharp increase in demand for both permanent and interim Finance roles. The global financial sector is anticipated to be worth over £19 trillion by 2022. As the dust continues to settle and the job market proceeds to bounce back, we expect to see continuous growth for the accountancy and finance sector.
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