Hiring managers across Europe experiencing burnout because of pressures of current job market.
Almost 60% of European companies are planning to give their staff salary increases this year as skills shortages continue to pressure the jobs market.
The Greenhouse Hiring Manager Sentiment Report, a new survey of over 1,500 hiring managers and c-suite executives, has revealed that 69% of respondents based across the EMEA region expect hiring to become even more challenging for the remainder of 2022 with over 69% of hiring managers in the region experiencing burnout due to the tight job market.
“Hiring is a business-critical function that must be managed, measured, and continually improved”
The survey also found that 68% of hiring managers in Europe believe that candidates are more demanding in terms of the benefits they expect, leaving companies to play catch-up.
Challenges of the ‘Great Reshuffle’
The primary contributors to increased stress levels in hiring managers are: sourcing the right talent (41%); candidate drop-offs due to competing compensation packages (20%); and an unstructured, ineffective hiring process (20%).
While the biggest challenges facing their companies when recruiting are: recruiting talent for niche roles and markets and (48%); creating an employer brand that stands out from competitors (41%); and being one-upped on offer packages in a climate with highly competitive salaries, benefits and sign-on bonuses (38%)
“The pressures hiring managers across EMEA are experiencing is reflective of a wider global trend and present serious challenges for organisations,” said Colm O’Cuinneain, general manager for EMEA, Greenhouse.
“Hiring is a business-critical function that must be managed, measured, and continually improved. The research shows that an overwhelming amount of companies are not adequately supporting their staff when it comes to hiring. People first companies across EMEA are harnessing a culture where hiring is central to everything they do”
Almost 60% of companies plan to give staff salary increases this year. Most respondents attributed company performance (30%) to this, however 14% also cited the impact that inflation or the general rise in the cost of living is having on wages and employee demands. Figures from the report show that 38% of companies will increase salaries by at least 10% this year.
The findings did highlight a troubling discrepancy between the perception hiring managers have of applicant experiences and the reality for job seekers. According to the findings, over 81% of hiring managers say they are proactive in providing feedback to candidates, with 41% saying their organizations always try to provide feedback. However, more than 70% of job seekers stated they were ghosted following an interview, according to the Greenhouse Candidate Experience Report released in February.
With high levels of vacant roles attributed to the “Great Reshuffle”, companies are increasingly looking at their own internal talent pool to fill roles. The survey shows that the highest source of talent for companies is internal promotions and transfers (59%).