There’s movement in the market and I’m seeing more people open to new opportunities than ever before.
In fact, in the last three months of 2016, the majority of candidates I placed were under the age of 30 which is another positive trend I hope continues into 2017.
However, for those who are currently feeling unfulfilled and as though the New Year is time to make a change, below are a few things to consider.
The power is in the candidates’ hands as a result of such a talent-short market. Those with the skills and experience valued by businesses will have a tonne of leverage when it comes to negotiating an offer. With such competition for talent, job seekers can then ‘shop the market’ and can consequently go from business to business as they seek what they feel is the most suitable position for them.
Those who are relatively new to the industry will also have a degree of power depending on their experience. Employers will become more adaptable and flexible in what they are looking for, focusing more on the personality and potential of candidates. Needing to fill roles quickly, employers will place more emphasis on training and investing time to get new entrants up to scratch with their business’ processes.
When it comes to shopping the market, there’s no better way to do that than to speak to an experienced recruiter that understands the industry. Recruiters act just like brokers in the same way that they have a panel of clients offering a myriad of options and can point you in the direction of the best one. We can guide you through the entire process and even negotiate on your behalf to get the best deal. However, steer clear of generalist recruiters that aren't focused on a particular niche, as recruitment within mortgage broking is tricky at best. Someone who doesn't understand the structure of the industry and the relationship between brokers, aggregators, sub-aggregators and so on will only waste your time. Find someone who is an operator in the game day-to-day, constantly building a network and meeting with relevant clients within the broking industry.
Niche job boards are going to become more popular as more people recognise the attention arbitrage they offer. As employers search for more qualified candidates they will need to leverage a more cost-effective solution that gets their opportunity in front of a targeted audience. As a result, niche job boards such as workinfinance.com.au will become the place to go for those looking for a move within the mortgage broking industry. I believe it provides more relevant opportunities and allows you to compare offers and groups that are looking to grow.
As more groups start to invest their marketing dollars into their employer brand, LinkedIn will be the place they promote their business and opportunity from an employee’s perspective. This will give candidates an insight into what it would be like to work there. If you haven't already, create a LinkedIn profile in order to make yourself visible to potential employers. It’s not just a tool to get your message out there and tell your story but provides the opportunity to listen too. By following different companies you’ll get an understanding of what they are about and when they are hiring.
In summary, job seekers should be able to find what they are looking for without a great degree of compromise. Depending on what’s most important, you should be able to find a business that can cater to your needs. Varying structures determine whether your decision is based on money, flexibility, responsibility or mentorship and you will certainly be able to find an opportunity that reflects this.
Zak Wilford is specialist business consultant in the finance broker space, an industry commentator, keynote speaker and the founder of broker job board workinfinance.com.au.
Having leveraged digital marketing and social media platforms to build a successful recruitment business for himself, he now utilises this experience to assist groups in leveraging similar platforms to generate business success. Whether you're looking to grow the team and attract top talent, or create marketing campaigns to generate referral partners, Zak can provide direction, tools and guidance on how to do this efficiently and successfully.