By: Danielle Gohr
The Hard Facts
If you have noticed that finding candidates for open positions, while keeping existing employees happy is proving to be near impossible, here is why:
- People are more comfortable than ever leaving their jobs as turnover rates this year were dramatically higher than in previous years.
- The economy is improving and companies are feeling more confident to open positions up.
- There are more open positions than supply of qualified candidates and prospects are setting higher expectations and asking for more than ever before.
- Unemployment is the lowest it has been since 2008.
There’s a New Sheriff in Town
It used to be an employer driven market and companies felt confident they could get the right candidate with their same old strategic tactics. There has been a gigantic shift in the candidates favor. They are now in charge and gaining more ground with each move they make. Now that we’ve accepted this shift, it is time we change up recruiting strategies, build stronger relationships, make referrals a priority again, be prepared to act fast, and make the experience so impressive that rejection isn’t even an option.
How to Recruit and Retain Candidates
Update Recruiting Strategies – You used to be able to gainfully employ candidates with a job description and good salary. However, in today’s market it is so much more than that. If you want to beat out competition and close a candidate in a market where recession isn’t a hot button and money isn’t the number one driver, you need to find out what the candidate’s motivations are. Once you find out their motivation, you will see that it will almost always be about one of the following:
- Security – how stable is the job
- Status – their title or opportunity
- Responsibilities – and room for growth
- Work/Life Balance – this may be the most important of them all
Knowing this, make sure your job descriptions, marketing materials, and recruiters showcase these items throughout the hiring process.
Build Stronger Relationships and Make Referrals a Priority – From start to finish, make sure you get to know the candidates you are looking to hire. Find commonalities, ask about their families, hobbies etc. By building these relationships, you create loyalty. Loyalty will pay off in dividends when your recent hires tell their qualified acquaintances, friends and family to come to you when they want a job.
Act Fast – If you don’t, your competition will. You can take time contemplating the purpose for the position, what type of person you want to be in the position and the timing of when you want the person to start. If you have those three things figured out up front, it should make it easy to move quickly. You get the applicants, interview the strongest candidates and make a sound decision to offer. While it is a precarious balance between moving too slow and making a hasty decision, you will lose out on the best candidates if you delay any part of the hiring process from application to offer.
Professionally Spoil Your Candidate – Because they expect it! From beginning to end, make sure your customer service is unmatchable. Be timely in your responses from applications and interviews to updates and offers. Let them in on your company’s culture and what makes it unique. Focus on what it does have to offer and not on the shortcomings or wish lists. If a candidate can feel the respect, appreciation and pride throughout the hiring process, they will undoubtedly accept the offer!