With unemployment at the lowest it’s been for 40 years.. there are now more choices available to candidates than ever before.
The biggest challenge for recruitment companies and employers at this time is being able to secure top talent for their business.
In the current environment candidates (whether currently employed or not) have more choice and control. So how do you ensure that your offering stands out from the crowd?
- Employer brands must be strong and exciting
- Candidates are likely to quickly get alternative offers
- Work/career motivations are changing
1. Be open minded in your approach to available candidates
With a skills shortage in certain industries adding to the diminishing pool of candidates..
..companies need to be more open minded with regards to what the key requirements are for the vacancies, get creative with your thought process and strategy.
The way you hire will have to be different to what you have done in the past. Companies who are successful in finding the right candidates in alternative talent pools are flexible in the requirements in terms of experience and skills.
2. Ask yourself the question – why us?
Now more than ever you need to step back, look at your business and ask yourself why would someone want to work for us?
What does your company bring to the table that is different to your competitors? This is the way the candidates thought process works when they have more than one job offer on the table.
They will look at your reputation, culture, career development opportunities and your company values.
Ensure that you develop an inviting “candidate experience” strategy, that is unique to your business and ensures you are standing out from the crowd.
3. Speed is of the essence!
Speed and quick decision making is key in the current market.
Traditionally you may have wanted to see multiple candidates to compare and contrast, enabling you to make an informed decision over a period of time.
However, candidates are now moving faster than ever and you will have to move fast with them – or lose them.
Ensuring you have a quick and efficient recruitment process from selecting candidates through to the offer stage, is now the difference between you securing the top talent or not.
4. Candidate motivations have changed
The reasons that candidates look to move jobs can vary and change. However, where job security used to be the top motivator in an uncertain employment market, now in a candidate driven market these motivations have changed.
Candidates are now more open and want to hear about new opportunities with forward thinking and visionary companies. Employee engagement is very important.
Some areas to consider within your business:
- Training and development
- The culture within your company
- Is there a clear vision with goals and objectives?
Candidates want to work for a company where they can make a difference, where they can be challenged and where they really feel valued.
It is important to remember that now more than ever, the recruitment process is a two-way street.
Candidates will be interviewing you as much as you are interviewing them, and in a market as buoyant as it is currently, recognising and adapting to the changing employment market will ensure that you keep on securing that top talent.