Gazumped… Bidding war for talent

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Our Managing Director, Samantha Crocker, shares her insight and top tips on how to navigate today’s job market and secure the best talent.

‘Gazumped’ used to be a phrase solely dedicated to the stressful process of buying a property. Person A makes an offer, Person B comes along makes a higher offer which is accepted, rendering Person A officially ‘gazumped’.

Odd I’d be writing about property, when I work with people, you might ask…

The market, whether that be property or employment is booming. We are in a ‘bubble’, a ‘blip’, a unique moment in time when candidates in demand can ‘name the price’.

The thing is, candidates won’t name a price, they will ask what they are worth. Quite rightly so, in a market that is so uncertain, professionals are holding out for the best price, the most flexible, the better option, the long-term growth and the higher salary.

We are officially in another form of ‘bubble’. Gone are the days of asking a candidate “what salary are you on now and what is your expectation?” Now, right now, employers need to consider the market worth of the role; for every candidate being offered a role, they will be considering not one, not two, not three others…

They have a ‘property portfolio’ equivalent of job opportunities so any employer needs to be ready, to promote the opportunity, to ‘gazump’ or to walk away. Or, maybe compromise, rearchitect that role, repurpose the position and revamp the exterior. Make the position have street appeal. Hiring Managers – it’s time to box clever.

Here are my key learnings of the past month: 
  1. Put your best foot forward – Make your best offer first, don’t waste time, if you want the candidate, don’t play games.
  2. Be flexible – The world of work has changed; you need to play ball and offer a remote/hybrid model. Not a lot of people who have worked at home for the past 18 months would be keen on the idea of commuting 5 days a week again. So, let’s just move to adulthood and a trusting relationship with your new hire.
  3. What else can you offer the candidate? What is important to you? What is important to them? Is that simply having the tools available to do the job or something else?

The point is, this ‘bubble’ we are in is intense and it’s moving fast. If you want to win this race, you need to focus on the task at hand, work with a strong partner, or team, who can capture this talent, represent your best offer and get the deeds signed, sorry I meant deal!

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