Revoco’s review of the year 2021
As we draw to the end of what has been a crazy year, I wanted to give my thoughts and findings from 2021 and how Revoco have grown as a team.
I always find it interesting to look back on my predictions from 12 months ago to see how close to (or miles off) the mark I was. I’m glad to say I’ve not fared too badly this time around!
As you can see, we went big on flexible working last year, suggesting that it will no longer be a ‘work perk’ but standard practice. You could argue that the ‘work from home’ guidance from the government means that prediction has proved right by default… but employers have made it clear that they’re willing to be led by employees regardless of restrictions.
They’d be wise to, let’s be honest. With nearly half of UK workers suggesting that they would consider changing their jobs if flexible working wasn’t an option, it’s clear that it should be front and centre of future talent strategies.
If you’re an employer looking to hire in 2022 and you haven’t sorted your WFH/flexible policy, you won’t hire. You need to be 100% clear on it to give candidates clarity. If you want to know what good flexibility looks like, catch up on our webinar from July now.
Hybrid working comes out on top
In what has become a candidate-driven market, employers can scarcely afford to not turn up the flexibility. Some companies have even started offering a work from home allowance to staff – of up to £5,000 in some cases – to keep them sweet and as an acknowledgement that they’re saving on overheads.
For many employers and employees alike, it’s the hybrid working model – where workers split their time between the workplace and home – which provides the best balance. In McKinsey’s Reimagine Work survey in 2021, 52% of workers were in favour of hybrid working, compared to 37% who said they wanted to work fully on-site and 11% who preferred fully remote.
We asked the team here for their preference (hybrid was the winner) and implemented it, and it’s working well for us.
Some employers are pushing the envelope even further. Atom Bank made the news in November when it became the largest company in Britain to introduce a four-day working week and reduced hours for all employees, with no reduction in salary.
The desire for a four-day working week is one that is only going to grow stronger – but just how many companies are prepared to make it a possibility for employees? All I will say is that it could be a game-changer for attracting talent.
Race for talent gets even more expensive
The race for talent has been at its most fierce in the tech sector in 2021. Salaries are being inflated to attract the best candidates, with big names like Apple and Amazon offering mega-money. Employers are counter-offering a lot more to retain staff, and it’s working.
For the rest who want to make hay while the sun shines, there’s been a trend of companies increasing notice periods to give them time to find a replacement in a low supply, high demand market.
But if you are looking to make a move, there’s never been a better time – multiple offers mean candidates can pick and choose the role that’s right for them.
Quality over quantity prevails
Can I talk more about Revoco now? I’m delighted to say we’ve grown in all core KPI’s – revenues, gross profit, headcount, productivity and, most importantly, dogs! I think everyone in the office agrees that Molli, Miso and Beesly have proven to be the best thing about 2021. Check out our Instagram for plenty of doggy pics.
Pets aside, we’ve made some amazing new hires this year – namely Dawid, Toby, Elen and Will – and everyone has hit the ground running. We’re so proud of them. Unlike some of our competition, we’ve not hired aggressively. Our focus has always been quality over quantity.
This means we can give new hires the time they need, teaching them good habits from day one. By investing in them, we can get to know them on a personal level, too, and help them develop in the way that they want. Take Harry as an example – he’s switched to an internal marketing role this year and is smashing it out of the park.
The nature of the market right now means we can be even more selective on the quality of business we take on, too, working with partners exclusively to help them supercharge their hiring efforts.
So what have we learnt?
There have been so many valuable business lessons from 2021 – many of them came from the amazingly candid entrepreneurs who took part in our Don’t Fear the F-Word series.
I’m proud to say that, when I asked the team what wisdom they’d be taking into 2022, the majority said something to do with putting others first – from taking a more consultative approach with clients, to looking past people’s CVs to the real person underneath.
After all, at its heart, recruitment isn’t about KPIs, it’s about people’s careers and solving our clients’ problems. And that’s why we love it so much.
And what have I learnt this year?
I now know how to share a gif on LinkedIn!