As 2021 sees the UK embark on a vaccine strategy, and as organisations begin to plan for a future without national lockdowns, we here at Savant are readying ourselves for the return of the ‘Recruit to Replace’ aspect of the market. So how can you, as either a candidate or client, be prepared?

What is ‘Recruit to Replace?’

Since March 2020, almost 75% of the roles that Savant have helped to fill in the accountancy division have been in newly-created positions. This could be the client identifying skills that need to be addressed and aren't covered by the current team, or in a start-up or growing scenario where more capacity is needed in finance. 

The part of the market that has been conspicuous by its absence has been the clients having to replace somebody who has left. It's only natural that, during this time of uncertainty, some people have put their searches on hold. It may be that an individual needs to move in order to further their career, or it's simply a case of them needing a new challenge. Either way, it's more unlikely that they will take this step during a pandemic. As stability returns, we anticipate that this repressed aspect of the job market will return in earnest and as people begin to move, it will create opportunity.

Being Prepared

What can you do to take advantage of this revitalised market? And what can you do as a company to be sure that the impact of movement within your finance team is minimised?

Candidate:

• Be prepared! Read our earlier blogs on bringing your cv together, speaking to recruitment consultants and utilising your own market to create opportunities. It's never too early. Don’t miss the perfect opportunity through lack of action.
• Conduct a quick Gap Analysis on your career. What are you getting out of your current role and what would you look to achieve by moving? Have your reasons set firmly in your mind and pursue opportunities that address the shortfalls. 
• Do your homework! Its a brave new world out there and you will want to be sure that you chose a company that has a clear strategy for taking advantage of the increased business activity and be able to sweep you along with their future success.

Client:

• Speak to your team! Have you carried out career assessments of people since the lockdown and do you understand their future ambitions? Maybe you can address your teams career requirements internally. This could stop them moving on.
• Cross-train your staff. Wherever possible, train your people in the various tasks. This will limit the impact if somebody leaves, but also keep them refreshed and interested, meaning that they are less likely to look elsewhere for career progression
• Highlight in your own mind who you think could be more likely to move. What will happen if they do? Try and mitigate the risk.

Whatever 2021 brings, we are anticipating that activity in the job market will increase significantly as the year progresses. Movement of people is a natural part of the business environment. Never be too worried to consider your next step and as an organisation, never be ‘surprised’ by a resignation.