Employment and Skills Campaign Manager, Business in the Community
Many established recruitment practices may be preventing jobseekers from entering employment, causing businesses to miss out on untapped talent.
Businesses in the UK are facing a talent crisis. Reports of the Office for National Statistics show that the UK has reached a challenging ratio of less than one jobseeker for every vacancy, making it difficult for employers to recruit. Many of the factors driving this labour market are beyond the control of employers, such as Brexit and the impact of the Covid-19 pandemic. However, the struggle to recruit offers an opportunity for employers to examine their recruitment practices, which are within their power to change.
Review recruitment practices
Traditional recruitment practices can prevent some jobseekers — older workers, school leavers, refugees, people with disabilities and those with former criminal convictions, etc. — from entering employment. For too long, the impact of these practices has gone unnoticed, because vacancies have been easy to fill. However, unless changes are made to their recruitment practices, employers will find that certain jobseekers will remain overlooked, and they will miss out on an incredible range of talent.
Unless changes are made to their recruitment practices, employers will find that certain jobseekers will remain overlooked.
In addition to filling vacancies, Business in the Community’s opening doors campaign encourages inclusive recruitment practices to hire untapped talent that will help employers create a more diverse workforce. This benefits the bottom line, with more diverse companies outperforming the competition. In a study by McKinsey & Company encompassing over 1,000 companies across 15 countries, researchers found that companies with the highest gender diversity at the executive level were 25% more likely to have higher profitability than less diverse businesses.
It’s also useful for talent attraction. British Psychological Society found that 69% of millennial and Gen Z employees shared that they would be more likely to work for an employer for more than five years if the business had a diverse workforce.
By focusing on essential skills and capabilities rather than education, experience or qualifications, businesses can fill skills shortages. By reviewing where jobs are posted or working with partners like Bridge of Hope, Renaisi or Movement to Work, businesses could unlock new pathways for jobseekers.
Employers may question the value of changing their recruitment practices, but if they don’t adopt inclusive recruitment practices now, disadvantaged applicants will find it even harder to compete for jobs should the UK enter a recession.
By making changes now, UK businesses can ensure inclusivity in the future world of work — with no one left behind in recruitment.