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 labor market, the quantity of candidates to vacant job positions is low thus increasing the level of competition in regards to hiring prospective candidates. It is known that many employers prefer a slack labor market where there are countless vacancies and qualified candidates, but even in the scenario of recruiting in a tight labor market it is still possible to find the right talent through the use of beneficial strategies. This leaves the question of: How can recruiters identify true talent among the myriad of candidates and connect with them in a swift manner before the competition does?
The United States economy is always in flux. Previously, The Great Recession wreaked havoc in the last decade, then unemployment hit a 50-year low, just before a surge due to the COVID-19 pandemic. While cyclic, it is very hard to determine the direction of the job market. This adds an extra layer of emphasis on having pre-planned strategies in place to prepare for any type of labor market. Last but not least, here are 5 steps recruiters can take to ensure that they are attracting the best workers in a tight labor market.
1. Hone Your Job Description
In a tight labor market, candidates are able to 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 important to make sure that the job description stands out from the rest and is not mundane. By focusing on unique benefits, opportunities, training, or other perks this will demarcate the job position from competitors. By the end of reading the job description, the applicant should be able to answer key roles and responsibilities pertaining to that position and the organization.
2. Get Your Brand Out There
Individuals who are applying for job positions at your firm should have a grasp of what your brand means and how it is reflected in the vacant job. That means that HR and marketing should be working together to bridge both aspects. If candidates have the ability to choose between different employers, it is important to note that they are digging deeper with great scrutiny to research which company values and brand stand out the most to them.
3. Embrace Technology
Technology can aid in the search for the right candidates. Through the use of technology, customizable searches for qualified job seekers are possible. If you are able to find the right job seekers more efficiently, you will be able to gain access to them before the competition.
4. Go With Video
In the age of social media, video images have the potential to go viral and increase exposure throughout various platforms. By breaking from the mold and experimenting with more engaging mediums and delivery of job positions, you are able to show job seekers more about the company, leading to the reduction of ambiguity in their decision-making process and making it easier for them to make a decision.
5. Remember To Develop Your Employees
Fundamentally, recruiting is about looking outward to bring new hires inward. However, you do not want to ignore your current employees in a right labor market. Keeping current employees satisfied can be a big factor when it comes to word-of-mouth recruiting. It is important to look at current employees as brand ambassadors that are spreading awareness of your company wherever they go and whoever they interact with. You want to make sure their feedback is positive and 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.
With Aqore, our solution allows you to streamline applicant tracking to new hire onboarding and client management with a unique approach of workflow and tasks. We are confident that Aqore will deliver 100% ROI and the only system that you need for all your onboarding, recruiting, sales, payroll and billing solutions without needing third party integration. To find out and learn more please visit our website to contact us at https://www.aqore.com/.