The Fast Moving Consumer Goods (FMCG) industry is one of the most competitive areas in recruitment with an average of 204 applications for each FMCG graduate vacancy, according to a survey of members of the Institute of Student Employers (ISE) published in September 2018. This industry has in its domain some of the biggest companies in the world, with some of them located and originally from Europe, like Nestlé, which is currently the biggest FMCG company in the world. Other big names of the FMCG industry in Europe are Procter&Gamble, Pepsi Co., Unilever and Anheuser-Busch InBev SA.
What are the Main Issues?
When it comes to recruitment, there are some universal truths and practices that every recruiter should be aware of and implement in their process. However, each industry also has its own particularities and struggles when it comes to hiring and retaining talent, and that’s what happens with the FMCG industry as well.
According to a Linkedin analysis on turnover rates, the Consumer Goods industry ranks second when it comes to sectors with the highest rate of employee turnover. Some of the reasons appointed as the cause for this high turnover rate are the lack of opportunities for advancement, dissatisfaction with the leadership of senior management and the need for more challenging work.
Skills and talent shortage are other issues that the Consumer Goods industry faces right now in terms of recruitment. It’s predicted that in the next five to ten years the industry will see a decrease in skilled people due to a large block of long-standing employees retiring. Even though there are a lot of applicants, most of them don’t have the right experience or the needed skills to work in the industry.
How can FMCG companies improve their recruitment?
Millennials are the future of the global workforce, and FMCG companies should be in the look for them. Even though they usually don’t have the traditional skills that companies look for, their digital knowledge and eagerness to learn make them the perfect type of candidates to boost improvement and fast forward thinking inside companies.
To fight problems like turnover and skills shortage, FMCG companies will need to invest in the implementation of digital tools like a recruitment software. This technological advancement allows for companies to create internal talent pools and to shorten their hiring periods, making sure they hire the best talent possible. By using a recruitment software, companies are leveraging their recruitment processes, while saving time and money.
