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Succession planning should, in essence - happen in every organisation to future-proof your teams and ensure success. But, some hiring managers or talent teams are unsure where to start, especially in smaller organisations where outsourcing talent is more popular than in-house activity.
Employee turnover can have significant knock-on effects, including the associated costs of hiring and training replacements, as well as decreased morale and productivity, especially if multiple team members leave at once. Retaining top talent has always been a challenge, but in the current competitive, candidate-driven tax market, it has become even more crucial.
Recruiting the right talent is a crucial, yet often time-consuming task for HR professionals. Amidst the sea of qualifications, competencies and workforce dynamics, a good job description is the lighthouse guiding the recruitment ship. It streamlines the hiring process, attracts the best candidates, and acts as a solid basis for future performance reviews and management.
For many businesses, knowing “hiring triggers” can be difficult - especially when you have multiple teams and seniorities to account for, and the same goes for hiring your first in-house tax professional. Traditionally, many organisations rely on external accountancy firms, either due to not needing human resources or for the ease of outsourcing.
We are operating in an incredibly competitive market, more so now than ever before. We’ve seen many organisations lose impeccable talent due to not being able to keep up or deliver on package demands. Although candidates aren’t solely motivated by financial package, it can be a dealbreaker for many.
The last few years have been full of economic curveballs: the pandemic, exceptionally fast recovery and the highest inflation in four decades. The bounce back post-lockdown saw job openings soar to historic levels across many markets, with the UK workforce growing to all-time highs.
Recruiting and hiring are challenging, particularly if you’re an organisation with aggressive growth milestones that you need to hit. Not only are you competing with organisations in proximity, but the market has become truly global over the past 12-18 months, as remote and hybrid working has become the norm.
Did you know that 72% of candidates will be considering a career move in the next 12 months? The demand for talent has only continued to grow, and we don’t anticipate that it will slow down any time soon.
