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Tight Labor Market

7 Tactics for Recruiting Talent in a Tight Labor Market

Published on November 30th, 2020

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Many businesses are now preparing for expansion after struggling through a slump brought on by the pandemic. They are launching ambitious expansion projects and seeking to attract smart professionals who can make those goals a reality.

Everyone should be happy about that, but there are a few restrictions.

The first is the nationwide talent shortage, which makes it difficult for businesses to find the talent they require to expand. The second is the 'Great Resignation,' which is demonstrated by the abnormally high resignation rates recently revealed by the US Bureau of Labor Statistics. Recruitment and retention are more difficult than they've ever been for many hiring managers.

Here are some tips for navigating through this complex employment market if you're looking to recruit or retain talented individuals so that your business can acquire a competitive edge.

Tactics for Recruiting Talent in a Tight Labor Market

1. Recraft your Job Description

Keep in mind that prospects may come across your job posting on each of the several platforms where they are conducting their employment searches. In a sea of tens of thousands of job advertisements, you must be able to stand out.

Be precise while mentioning all the perks and criteria of the position. With a 5,000-word job description, you don't want to dull them or scare away potential prospects.

Achieve the ideal balance between transparency and information overload. Use charts and bulleted lists or other visual structures to help your job postings stand out from the competition.

2. Sell your Brand

People who are looking for jobs at your company should be aware of what your brand stands for and how it relates to the particular position open. Therefore, HR and marketing ought to collaborate. 

Candidates will definitely conduct a more thorough investigation if they have the option to pick between potential employers. Make sure the brand and values of your business are noticeable.

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3. Rethink your Salary Structure

You may be having a hard time recruiting top talent and retaining existing employees because of your salary structure. Research shows that competitive pay is the number one reason employees stay with their companies.

Do some research into comparable organizations and the median pay scale in your area. Make adjustments based on the advice of professional recruiters.

4. Promote your Inclusive Workplace

A work environment that offers individuals the chance to gain knowledge and new abilities, advance their careers, feel supported, and be themselves has a strong appeal. If you have it, you should make sure people know about it – not just in job postings, but also on your website and social media posts.

The real distinction for a firm is its organizational culture. Now is a wonderful time to gather with your managerial team and human resources (HR) professionals to review your workplace culture and find areas for improvement if you are unsure that you are providing a fantastic culture.

5. Offer Flexibility

Businesses were compelled to send workers home because of the COVID-19 pandemic, and they swiftly implemented a remote work paradigm. Although the change was initially necessary for the company, it ultimately proved to be a wonderful success. In fact, many employees today don't understand why they should go back to work full-time. Employers who insisted on them doing so may have unintentionally forced valuable employees to depart.

Without a doubt, one of the leading forces behind the so-called Great Resignation has been the desire to work from home, whether because of the better work-life balance it offers or because of health worries about sharing office space.

Businesses that permit remote work will have an advantage over those that do not. However, the ability to work from home should not necessarily be a deal-breaker. Consider additional options for people who must physically visit the office if your company cannot function effectively with remote staff.

6. Adapt Online Hiring

Years before the pandemic, recruiting began shifting online as newspaper classifieds made the transition to job boards and recruitment solutions companies placed candidate profiles on their websites. However, hiring managers and HR specialists often took their time implementing video interviews and online assessment tools. That changed when COVID-19 disrupted everything. The hiring and recruiting process is now almost entirely online.

A new recruiting process may have had a rocky, if hurried, beginning after going virtually overnight. Online recruiting, however, probably proved to be a quicker and more effective way to evaluate applications and conduct interviews than traditional, pre-pandemic office meet-and-greets if you were quick to adapt.

7. Focus on both Active and Passive Candidates

You want to hire the greatest person, and that person can be looking for work, working but not looking, or unemployed. The amount of interest and motivation of each type of candidate will vary, so you must develop recruitment techniques that appeal to each group. Searching job board databases for active candidates and posting job adverts are insufficient. 

Direct sourcing by recruiters and hiring managers, along with materials that tell an engaging story to people who may not be familiar with your company, can generate interest among currently employed individuals. 

Also, think about going back to past high-performing workers who have left the organization. They might have left for professional growth and returned with valuable skills and talents you need, or they might have left your business and discovered that the grass isn't always greener on the other side.

Final Thoughts

You must exceed candidate expectations while outpacing the competition in this volatile hiring landscape. Examine your hiring procedure to ensure that you're making the most of all the resources at your disposal, including automated interview scheduling and applicant monitoring platforms. To decide how to streamline the process of posting open positions, consult your HR department or a qualified recruiter.

These tips are a fantastic place to start when figuring out how to adjust to the hiring reality of today. Implement what you can and what is best for your company. And be persistent.  Although there may not be a lot of skilled talent available for hire right now, your next great recruit is undoubtedly out there.

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Authors

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Radhika Sarraf

Radhika Sarraf is a content specialist and a woman of many passions who currently works at HireQuotient, a leading recruitment SaaS company. She is a versatile writer with experience in creating compelling articles, blogs, social media posts, and marketing collaterals.

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