The job market here in Iowa has certainly changed in 2014. Demand for top talent in Accounting, Information Technology, Engineering, Administration, Human Resources, and Sales has increased dramatically in recent months. Salary levels are beginning to rise and so are the compensation expectations of applicants considering a change. Many people that “stayed put” during uncertain economic times are more actively pursuing new job opportunities. In fact, candidates with the strongest backgrounds are seeing significant interest and often times must decide between competing offers.
As a company leader and hiring manager, this is a good time to review your overall hiring process. Here are a few ideas to consider:
Be prepared to move quickly: For most employers, the length of time from initial resume review to offer increased significantly during the economic slowdown. While this “methodical approach” may have worked well then, it could cost you the opportunity to hire the strongest applicants in the current and future environments. Today a thorough but swift process is most effective.
Know the situation with your top candidates: It’s always best to know as much as possible about a potential candidate’s current “search status”. Are they actively interviewing with other companies? Are they considering offers from any of those companies? What is their individual time frame for making employment decisions? It’s valuable to know about any potential competition so that you can adjust and react.
Sell your company stability and culture: Specific position responsibilities, opportunities for advancement, plus compensation and benefits are still important to applicants. That said, your company culture and financial stability are also on the top of the list for most candidates today.
We remain optimistic for continuing job growth across many of our areas of expertise. If your organization is challenged or concerned about your processes for identifying, attracting, and hiring top quality candidates, please contact the professionals at Palmer Group to learn more.