by Mark Fallon, Director at Coopman
There has been a ‘high-pressure’ situation brewing in the recruitment market in recent months – the well-known demand versus supply conundrum. The global pandemic has created the perfect storm with regards to the supply of quality mid-senior candidates with the relevant skills required for a job and companies are facing difficulties finding talent to fill roles at that level.
A major component of this situation is that many individuals have been working from home for well over a year now. They’ve built a routine around working life and personal life and, in some cases, this means no commute, more sleep and more energy, while others are working longer than ever before – however, despite this, it is still a great outcome for them. Why? Well, in a pre-pandemic world, a lot of professionals would put work sacrifices before their personal life or family (dare we say it!) as it was simply the office culture. For many people, the pandemic has really brought to the forefront what is that they value important – and that is their own lives outside of work and their families. Flexibility and remote working allow employees to be physically present in the home to support other family members, which benefits the employee both professionally and personally.
Now from a recruitment perspective, this is having a major impact on the availability of professionals, particularly in financial services. Normally, individuals are looking for new challenges, career progression, or simply keeping an eye on the market for interesting opportunities, but with this remote style of working, they are content in their current working environments and enjoying their time at home. Most people are waiting until offices reopen, to assess their employer’s working from home policy (with many companies still formulating or yet to create such policies) and explore the working models available to them post pandemic – both with their current employer and perspective others. In addition to this, constant mixed messaging in the media around Covid-19 developments and the outlook for the future has created huge uncertainty for individuals whereby they don’t want to take the risk and start another job with an employer amid the unknown.
The traditional ‘passive’ candidate is simply not looking right now (September 2021)! Therefore, it can be argued that the ‘best’ candidates that would ‘normally’ be looking are not in the market at this time. They are waiting for this storm to pass and then they’ll reassess their life plans and take action thereafter. However, this storm could be around for the remainder of 2021 and into Q1 2022…
The Solution ? Interim Management Professionals
With a reduced number of quality candidates on the market available (and by quality, we mean a technically qualified professional available to take on the role on a permanent basis), interim managers are the perfect solution for companies facing challenges in recruiting talent. Interim professionals are highly qualified, extensively experienced individuals who can join companies on a short-term, long-term or project-based contract. They can manage a period of crisis, change or transition, and can replace, supplement or coach others depending on a business’s requirements. Employers can hire elite professionals and consultants quickly and confidently (within days or weeks) at competitive rates without foregoing on quality or incurring administration and additional costs associated with hiring on a permanent basis.
About the author
Mark graduated from National University of Ireland, Maynooth with a BA(Hons) in Geography. Mark began recruitment in the financial sector in 2010, working in London with a boutique capital markets recruitment agency focusing on front office roles. Subsequently, he joined a global PLC where he became a director and partnered with some major financial services clients in Ireland. Originally from Longford, coming from a farming background, Mark has a real commitment and self-motivation in developing peoples’ professional careers.