The last few years have demonstrated how the pendulum can swing between an employer versus a candidate-driven market. The job market has changed drastically, from not enough jobs in 2020 to a more competitive market today. Hiring managers might feel discouraged as they consider how to find top talent, while job seekers have their pick of the litter and can often field multiple job offers.
Instead of feeling frustrated as you face outdated hiring processes in today's candidate-driven market, give your recruitment process a facelift. Great candidates are out there and your business deserves the best. One of the many recent positive trends of recent trends is a higher retention rate for employees. This article will help you find other positive factors and be confident in a candidate-driven market.
Advertising the Position
Your recruitment team knows of positions that need to be filled and wants to advertise to get the best talent possible. Where to begin? Get the word out wherever you can! As you think about having the upper hand in hiring, think about frequency. The more places you put information about open positions, the more applicants you'll attract. Think outside the box! Start with online job posting boards, and then move to social media or email campaigns. Stay in the driver's seat as you post positive information that shows how your company is the whole package.
As you consider using social media platforms to advertise openings in your business, passive candidates will see these posts. Your engaging content might set a fire under them to think about a job or career change, which could lead them to apply and fill your company's need. Current employees can share this information with friends and acquaintances through social media or even by word of mouth. Be sure these current workers have a high opinion of your company and their position so their posting of a job opening will be viewed with a certain ethos.
Being transparent about your company's values and your employer brand shows respect for your candidate's time. This transparency makes the initial decision-making process easy: do they want to work for you or not?
As you examine your employer brand and what a typical day looks like for your current workers, do you see aspects that a passive candidate would want and for which they'd actively want to leave their current organization? Two avenues you might focus on with your introspection include the presence you hold in your community and on social media, along with the culture your company espouses.
How does your company present itself in the public eye? Do you have a presence on social media? Do you need to improve optics, or perhaps create a bigger insight into what your company stands for and what you offer? These questions can help provide the appropriate information upfront so your prospective talent knows what they're signing up for when they apply to your company.
Company culture includes things like attitudes around the office, but also could include aspects such as chances for advancement, the likelihood of employee retention, or the level of respect between employer and employee. Your culture has long-reaching effects, and is often part of how candidates view which companies they'd like to work for. The candidate's perspective of how they'll be treated and appreciated if they were to work for you has a huge impact on their choice to apply. Your thought leadership gives you the ability to focus on your culture and, find ways to make it stronger if it needs to improve.
As prospective hires consider your company's advertisements, social media campaigns, and their general knowledge of your company, what do your application, interviewing, and hiring experiences look like? Looking for a new job is stressful, so your consideration of their perspective provides a more positive process.
Aside from your public perception, the interview process is the first face-to-face interaction you and the candidates will have with each other. First impressions matter, so how you present yourself and your business could make or break the relationship with these prospective hires. Do they feel comfortable in their surroundings? Are the interview questions salient? Are you hospitable? Do you allow for thoughtful questions and provide honest answers?
Place yourselves in their shoes. They might have experienced recent shifts in their previous job and want to find a new position, or perhaps they're trying to find better pay or more amenable hours than their current employer can offer. Putting in the extra effort to meet them where they are and then learn about their talents displays to them that your true interest and desire for them to join your company.
Jumping forward, a hypothetical congratulations! The candidate accepted the job. How will you ensure they're onboarded effectively? Perhaps this process ensures they feel appreciated and that you're aware of your needs, with considerations like employee retention. This process could look at flexible working patterns and other parts of their day-to-day job. You've nailed the first impression with the interview and have filled the position you needed, so now take the time to keep that employee around. As mentioned above, a lot of job openings are shared via word of mouth by current workers. Ensuring that your employees feel appreciated and seen from the very beginning can go a long way in hiring within a candidate-driven market.
Whether this is a candidate's first job, they are changing jobs in the same career, or they are switching paths altogether, what do they want out of a position with your company? This could include salary, a career development plan, and benefits. Finding a way to both compensate and respect the needs of current and potential employees puts the ball in your court. If a potential candidate is looking to jump to your business from their current company, look into what they feel like they're missing and if you can help them achieve their goals. It's a win-win: you get better talent, and they get to move forward with their goals.
Many people in today's candidate-driven market are seeking more competitive salaries. Other major influencing factors could include health insurance or vacation time. These considerations might feel overwhelming to consider, especially their cost. But top talent is worth the investment to keep around. Examine your budget and the many factors that make up your benefits plans. Is what you have to offer competitive? Are there ways you can be economical while still providing for your employees' needs?
Think about how these factors affect your culture. When employees feel valued, they're likely to want to do better work. Your recruiting team should work with you to know what benefits you provide and how to sell them to your prospective talent.
As mentioned, when the job market favors candidates, it often means that once someone finds the right fit, they tend to stay longer with that company. Employee perks drive retention and can help you motivate a feeling of respect for the work they do. Keeping these talented people around ensures your place in the driver's seat as you move your business forward with people who are loyal and see your vision. Altogether, you create a team built from the best candidates.
Another hiring strategy is to consider using independent contractors. These candidates can provide top talent without some of the worries of the hiring process. In the changing corporate landscape, it can feel difficult to find people who fit your needs. Whether you're working with hiring managers, a recruiter, or a third party who uses contingent workers, these keys to success will help you navigate a candidate-driven market and ensure you have the best talent working for you.
As you move along in your search for qualified candidates, you might consider using one of the aforementioned recruiters or third party resources. This can remove some of the pressure off of you and a hiring manager. Using a recruiter like TalentCrowd can save you time and hassle while ensuring top talent works for your company.