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For individuals who have worked in the recruitment industry, you know that hiring falls on the spectrum of being feast or famine. In a tight labour market, the quantity of candidates for vacant job positions is low, thus increasing competition for hiring prospective candidates. It is known that many employers prefer a slack labour market where there are numerous vacancies and qualified candidates. However, even in the scenario of recruiting in a tight labour market, finding the right talent through beneficial strategies is still possible. This leaves the question: How can recruiters identify true talent among the myriad of candidates and connect with them swiftly before the competition?
The United States economy is constantly in flux. Previously, The Great Recession wreaked havoc in the last decade, and unemployment hit a 50-year low just before a surge due to the COVID-19 pandemic. While cyclic, it is tough to determine the direction of the job market. This adds an extra layer of emphasis on having pre-planned strategies to prepare for any labour market. Last but not least, here are five steps recruiters can take to ensure they attract the best workers in a tight labour market.
In a tight labour market, candidates can pick and choose between opportunities. The more honest you are with a job description, the better the odds are that you will find the right candidate needed for that role. It is also essential to ensure that the job description stands out from the rest and is not mundane. Focusing on unique benefits, opportunities, training, or other perks will restrict the job position from competitors. By reading the job description, the applicant should be able to answer critical roles and responsibilities about that position and the organization.
Individuals applying for job positions at your firm should understand what your brand means and how it is reflected in the vacant job. That means H.R. and marketing should work together to bridge both aspects. If candidates can choose between different employers, it is essential to note that they are digging deeper with great scrutiny to research which company values and brands stand out the most to them.
Technology can aid in the search for suitable candidates. Using technology, customizable searches for qualified job seekers are possible. If you can find the right job seekers more efficiently, you can gain access to them before the competition.
In the age of social media, video images have the potential to go viral and increase exposure throughout various platforms. By breaking from the mould and experimenting with more engaging mediums and delivery of job positions, you can show job seekers more about the company, reducing ambiguity in their decision-making process and making it easier for them to make a decision.
Fundamentally, recruiting is about looking outward to bring new hires inward. However, you want to pay attention to your current employees in a good labour market. Keeping current employees satisfied can be a significant factor in word-of-mouth recruiting. It is essential to look at current employees as brand ambassadors spreading awareness of your company wherever they go and interact with you. You want to ensure their feedback is positive; this is where your company’s action speaks louder than words. Initiatives and incentives like regular pay increases for those delivering results to wellness benefits and promotions are some ways in which this can be done.
Achieving success in a tight labour market requires a strategic and efficient approach to recruitment. Aqore staffing software offers a comprehensive solution to streamline recruitment, from candidate sourcing and management to efficient communication and collaboration. With the help of Aqore Staffing Software, recruiters can effectively implement the strategies mentioned above and attract top talent in a competitive job market by leveraging advanced features and capabilities.
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