The number of experienced professionals flooding the job market is unprecedented. Read the reasons why you should jump on the chance to hire one.
The economic impact of COVID-19 has seen a devastating number of businesses take the difficult decision of making employees redundant. This economic crisis hit an UK that was already in flux, with a significant number of industries facing critical skills gaps.
In turn, there are an unprecedented number of experienced, talented and skilled professionals who are looking for work. Given the numbers, they are also willing to accept lower wages than ever before.
As such, the fact these employees are out of work has nothing to do with their ability to do the job, but the result of a pandemic and a fluctuating economy.
If you could recognise the massive value these workers represent to your company’s future potential, they would be the best investment you will make this decade.
Reasons to hire a currently redundant candidate
1. Willingness to train
Coming from a company struggling to keep up with the pace of change, redundant workers recognise more than anyone the need to be adaptable. At the forefront of this is the need to take on some extra training to ensure they keep up with the rapidly changing economy.
2. Leadership drought
One major impact of the automation of UK industries is that the remaining roles are increasingly those that require leadership experience.
As such, the vast number of redundant workers allows your business to access an experienced professional who can immediately slot into a management position for a salary lower than you would normally expect.
3. Work experience
This one is no surprise, but with a market flooded with young graduates with little to no work experience having a new recruit with a wealth of experience is invaluable. Furthermore, having experience brings stability in a devastatingly unstable economic environment. Additionally, they will be great at tutoring all those new younger recruits.
Being suddenly unemployed, despite being massively skilled and experienced, can be difficult for one’s self-worth and confidence. As such, giving an opportunity to a worker who was made redundant in a difficult economic crisis will make them more determined than any of your current staff members to prove themselves.
Having years of experience on one’s back will give a redundant worker a wealth of different perspectives that are integral to adapting to a new environment. Unlike hiring a younger, inexperienced worker, recruiting a redundant employee will not stall any progress you have been making to steady the ship. In a time of risk, rely on the reliable.
Experienced workers are found to take less risk than younger candidates who are still trying to find their feet. As such, if you want to reduce the chances of being forced to rehire, which research suggests as one of the largest avoidable costs to SMEs in the UK, hire someone who wants stability.
Given that these experienced professionals have gone through an incredibly unstable period, redundant workers will be your most loyal members of staff. Furthermore, they will spread a word of warning to any of your current staff considering jumping ship by reminding them that the grass is not always greener.