Securing and retaining top talent in today’s competitive valuation sector requires more than just offering a competitive salary; it demands insight into what candidates truly value. To get a clearer picture of what makes firms stand out to prospective hires, we spoke with Tom Loseby of TML Recruitment, an expert in the field. As firms look for ways to attract skilled professionals, especially in the valuation space, Tom’s insights offer a roadmap to help them succeed.
The recruitment landscape in the valuation sector remains relatively stable as we progress through 2024, though summer always brings its challenges. “People are on holiday, both clients and candidates, making it tough to line up interviews,” Tom explains. Despite this seasonal slowdown, demand remains strong, particularly for newly qualified commercial valuers with up to three years post-qualification experience (PQE). For firms eager to bring in top-tier talent, understanding what differentiates one workplace from another is key.
Shifting Work Dynamics and Firm Flexibility
One of the most notable shifts this year has been around work-from-home (WFH) policies. Larger firms are increasingly requiring employees to return to City-based offices, a move that has prompted some candidates to seek out smaller firms that offer more flexible working conditions. “The ability to offer complete flexibility has become a real asset for smaller firms,” Tom says. These companies can often adapt faster to candidates’ needs, giving them an edge in the battle for talent.
Salaries, too, have levelled out. After the post-pandemic hiring surge, firms have reassessed how far they can stretch to attract talent, and the excessive bonuses and inflated packages have calmed down. “We’ve hit a reality point,” Tom observes, “and now it’s not about who can pay the most. Other factors are coming into play, like flexibility and technology.”
Technology as a Key Differentiator
One of those key factors is technology. Firms adopting advanced tools like AI and valuation software are setting themselves apart in ways that candidates are noticing. According to a recent poll conducted by Tom, nearly half of the respondents said they’d be more inclined to join a firm that uses modern tech solutions. The message is clear: technology isn’t just about efficiency; it’s about culture and innovation.
Take Valos, for example, a platform that automates routine tasks, allowing valuers to focus on their core work. By reducing the admin burden, Valos helps professionals enjoy a better work-life balance. “Candidates are actively asking whether firms use Valos during interviews,” Tom notes. “They’re seeking out workplaces that make their jobs easier and more satisfying.”
Levelling the Playing Field for Smaller Firms
This focus on technology is helping smaller firms compete with larger ones. Firms that might not be able to match the salaries or offer the same level of prestige as their bigger competitors can use tech adoption as a way to stand out. “We’ve seen candidates weigh up job offers based on whether the firm uses Valos and firms using Valos in interviews to entice candidates,” says Alex Kountourides, CEO of Valos. A recent poll found that over 50% of participants would take into consideration whether a firm uses Valos into a job offer, showing just how important technology is becoming in the decision-making process.
Firms that embrace tech tools are signalling to candidates that they’re not only focused on efficiency but also invested in their employees’ long-term success. For candidates, working in a firm that provides the right tools to enhance their role can be just as valuable as a pay rise or bonus. In fact, many are hesitant to leave firms using advanced tech, knowing that moving elsewhere might mean losing that advantage.
Future-Proofing Talent Acquisition
To stay ahead, firms must look beyond salaries and think strategically about what today’s candidates want. As Tom puts it, “Tech adoption isn’t just about staying current; it’s about attracting the best and the brightest.” Those who fail to keep up with the latest advancements risk missing out on top talent.
Firms that invest in technology and offer flexible working conditions are positioning themselves as leaders in the field. In doing so, they create a workplace where employees feel supported and equipped to succeed. For the valuation sector, embracing these changes is no longer optional; it’s essential for staying competitive in an evolving hiring market.