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HomeBusinessIs Job Hoarding Impacting Your Business?

Is Job Hoarding Impacting Your Business?

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As today’s candidates continue to operate in a competitive market, new research from CV-Library reveals how almost half (49.8%) have admitted to accepting multiple job roles, and using them as a platform for negotiation with potential employers. In an attempt to secure the best salary and job offer, this latest trend, aptly known as ‘Job Hoarding’ has the potential to put recruiters in a compromising position.

Job hoarding has become a significant problem for UK employers and businesses in recent years; studies show that hoarding is increasing amongst job seekers at alarming rates. So what is job hoarding?

 

As an ongoing skills shortage grows, candidates with a high skill set know they are in a position to take advantage of businesses looking to acquire the best of the best. This shortage has led to the rise of job hoarding, where candidates are accepting more than one job at a time to negotiate a better deal, or they are taking a position and continuing their search, with no real intention of staying with the company from whom they have accepted an offer.

 

Surveys amongst job seekers taken from CV-Library showed that: 

 

  • Nearly half ((49.8%) of candidates would accept more than one job role at a time, with 80.8% stating that they would do so for up to two weeks
  • Over three quarters (77.2%) of job hunters think it’s reasonable to accept more than one job offer at a time, to negotiate a better package
  • Nearly two-thirds (64%) would agree to a job role they’re unsure of while continuing their job search

 

This process can be profoundly damaging for employers and businesses as it causes friction, wastes valuable time and money and reduces morale in the workplace.  As the job market grows increasingly competitive, and companies are battling amongst each other to secure the best talent, how can this problem be countered?

 

Your business, online reputation, and company culture should ensure that the candidate only has you in mind and that you are their first choice. In order not to be used in a negotiation deal, or as leverage it’s imperative to build an attractive work environment.

 

Ensure that the candidate has found the company they were looking for, with three key factors: 

 

  1. Offering the right pay: This means not only wages but incentives and bonuses that will entice candidates. 
  2. Exciting environment: Showing that the workspace is unique with friendly, fun staff. 
  3. Flexible hours: offer hours that suit the candidate. 

 

Another quality essential to deterring job hoarding is branding. Research suggests company branding is a key factor for candidates when choosing between jobs. Many would prefer a company with a recognisable brand. By building a strong brand presence and finding a way to relate it to a prospective candidate can have significant positive impact on a business.

 

By Jack Blain

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