With the current U.S. unemployment level near record lows, companies are having a harder time than ever sourcing quality talent. To make matters worse, many industries are seeing a higher-than-average turnover rate.
The combination of high turnover and a scarcity of talent is putting immense pressure on hiring personnel to locate quality talent. Many hiring managers are having success by thinking outside the box.
Although the current unemployment rate is quite low, that doesn’t mean the amount of quality talent out there is low as well. Study after study shows a high rate of American workers are disengaged emotionally with their current job, and a much greater percent say they would be more than happy to leave their current job if the right offer comes along.
Sometimes, the solution to sourcing these ‘passive’ job candidates is to simply offer a them a higher pay rate. Surveys regularly show a bigger paycheck is all it would take to lure many folks away from their current job.
Below are a few more tips for sourcing talent in this competitive job market.
Be creative and comprehensive
Just putting up job postings on internet job boards is not sufficient if you want to find top talent. Posting a vacancy and occasionally updating the listing leaves a lot up to luck and it doesn’t separate your company from the competition.
Some businesses have found it requires consistency and a scaled approach to break through the noise. A multipronged hiring strategy should target both national and industry-specific job boards; include email campaigns, use SEO-friendly job descriptions and tap into the company network.
This kind of comprehensive campaign leads to openings being widely known and your business staying top-of-mind.
Prioritize cultural fit
Your company’s need for quality talent is much lower if you aren’t constantly losing good employees. The danger of a disengaged workforce and the higher-retention rate of an engaged staff are well documented. However, it isn’t sufficient to merely engage your current employees. If you don’t hire individuals who fit into the company culture, they’re more prone to leaving or disrupting the culture you’re trying to cultivate.
Hiring workers who share similar values and the values your company wants to project will trigger higher engagement levels and greater job satisfaction.
Hiring for cultural fit starts with the job posting. Make sure your business culture and how the role fits into that culture are expressed clearly. For instance, a job description could talk about looking for a detail-oriented professional who can be counted on to deliver accurate results on a daily basis.
Promote thoughtful, supportive people
Surveys show people often quit a job because they don’t like their supervisor or because of a lack of opportunity. If your company provides advancement opportunities to individuals who support and guide others, you’re killing two birds with one stone, and your company will end up with good managers who stick with the company for a long time.
At Career Concepts, we are working hard to support our clients in this tight labor market. If your company is currently finding it hard to locate top-quality talent, please contact us today.