Hiring in a Tight Labor Market

When there are more job openings in the market than there are job seekers, acquiring the “right-fit” for your business can become difficult.  The current unemployment rate has been resting around 3%, while there is also a large population not seeking work at all (Covid, Family Priorities).  But there is still hope! These tips can help you locate the high-quality candidates in any market condition.

1. Broaden Your Search

Every region has different conditions, which means that there may be a lot of talent job searching just a city away. Consider casting a wider net because many people are willing to commute, or even relocate for the right opportunity.

              Other Strategies:

• • • • • • Consider relaxing on certain requirements for the role if you are struggling to fill the position (education, skills, experience)
          • Use social media to spread the word that you’re hiring
          • Consider an extension to your team by using a recruiting/talent acquisition service to help you find the right candidate faster

2. Employee Referral Programs

Your current team might be a valuable resource thanks to the network that they have built throughout their career. From past jobs, or even through sites like LinkedIn, chances are they know people who could be the right fit for your position. Offering incentives such as additional PTO, event tickets, or cash for successful referrals may encourage them to spread the word for you.

3. Make it Easy

To get a candidate’s interest, you’ll want to cater the entire process to them. Efficiency In the hiring process will help to build their enthusiasm toward their new opportunity.

• • • • • • Keep lines of communication open and consistent (personalize messages)
          • Use user-friendly technology (Be considerate of their preferences)
          • Make sure the process is not to slow to retain their interest

4. Be Proactive

Many obstacles often arise during the hiring process of candidates, and it’s best to be prepared for these ahead of time. Address salary early on in discussions to avoid any complications with the candidate later in the hiring process.  Also, consider counter offers from their current employer. Candidates are more likely to leave their current positions if there are added benefits to transferring.

• Sign-on bonuses, extra PTO, 6-month review

Communication will also be a big factor in retaining the candidate’s interest in the role. Ensure that they know how long the process will take, and keep them updated throughout.

5. Find Alternative Solutions

If your role remains vacant for longer than anticipated, consider the other options for fulfilling its duties. There may be opportunities internally to restructure your team by training and promoting current employees. You may also consider outsourcing the responsibilities of the role to an outside firm which could cost less than a full-time employee.

Stay hopeful! There are many candidates out there that are the right fit for your role, stay persistent and you will find them. For other helpful tips check out the articles below or subscribe to HRC’s newsletter to get helpful career advice and insights delivered straight to your inbox.

Contact us directly: Sandy@myhrcgroup.com – phone: 574-210-9345