In February of 2019, unemployment in the U.S. was down to 3.8%. This tight labor market has made recruiting an even tougher job than before. HR departments are struggling to fill open positions, especially with high-level talent.
Unfortunately, this is a reality that HR teams must learn to face. A recent Glassdoor study predicts that because of an aging population, “tight labor markets will become the ‘new normal’ for decades to come.”
But, all is not lost for businesses with job openings they need to fill: with some savvy recruitment strategies, you can learn how to compete for — and win— top talent.
In today’s labor market, most employees who would be a great fit for your job openings already have stable positions. “Passive candidates” are currently employed and aren’t actively looking for new opportunities. Consequently, these candidates are often coveted talent—and some of the most difficult to pin down.
Starting conversations with passive candidates is more difficult than starting conversations with actively searching professionals. They aren’t searching job boards like Indeed or Glassdoor, where you usually make initial contact with interested professionals. Targeting passive candidates requires some extra work.
Reach out through social networks like LinkedIn, letting your target know about the opportunity you have in mind for them. Be sure to add personal details in your message, noting exactly why you think they’ll be a great fit. Starting an employee reference program is another great way to learn about candidates who aren’t on the grid—and invests your employees in the search. Finally, attending or hosting local networking events is an excellent way to connect with passive candidates.
If you’re dedicated to attracting the very best talent to your company, consider appealing to talent located outside your local area. People regularly move for jobs; in fact, almost 10% of people who move do it for new employment opportunities. Reaching out to out-of-area talent can be one of the best ways to widen your field of prospective employees.
To incentivize the prospect of a relocation, which can be expensive and time-consuming for professionals, you’ll want to ensure you have an appealing relocation package as part of your recruitment strategy—especially if you’re looking for high-level talent, like an executive.
Within your basic relocation package, cover basic items like physical moving costs and temporary housing, plus a bulk cash sum for miscellaneous moving fees. Your executive relocation package should feature each of those costs and more; include items like home selling fees, exploratory trip fees, and spousal employment assistance.
Job posts are often the very first interaction your prospective employee will have with your company. To start your relationship off on the right foot, ensure that your job posts are clear, concise, and accurate.
Confer with the manager who will be in charge of the new hire to discover exactly what they want in an employee and what job duties he or she will manage. Record every basic aspect of the job, especially key items that your prospective employee will have questions about. Include: detailed job duties, management style, company culture, salary range, and benefits.
Ensure the post is accurate before you post it on any websites; top talent might stop the interviewing process if they notice that the job post doesn’t line up with the job your team is describing.
Consider adding benefits in addition to an excellent healthcare plan. A 2018 Glassdoor study found that “both higher pay and better company culture make job applicants more willing to move to new cities for jobs.” Making your offered benefits stand out is a great way to both differentiate your culture and entice top talent.
Often, better company cultures mean better (and often more fun) benefits. Some businesses stick with unlimited vacation or free snacks, while others broadcast their dog-friendly office spaces and remote work opportunities. Unique benefits can include items like pinball machines in break rooms, or first Friday Zorbing at local venues. Some companies offer napping pods or gym memberships.
The possibilities are endless—just ensure that the benefits you offer are in line with the company culture you would like to maintain.
Even after implementing recruitment strategies like targeting passive candidates or adding new benefits to your employee package, you may still struggle to attract top talent in today’s tight labor market. While offering relocation packages can be an excellent way to widen your field of prospective employees, you may need to tweak your relocation package strategy in order to make it more appealing to today’s candidates.
To understand employee relocation struggles and learn how to hone your relocation package download “The State of Employee Relocation 2018” today.