Modern Day Recruiting in a Candidate-Driven Market

With all the changes in the labor market this year, recruiters’ schedules are looking busier than ever. Employee turnover, retention, engagement, and skills gaps are just a few of the headlines that’ll rattle employers, but recruiters will be the ones most equipped to help with these changes.

Today’s Job Economy

The economy has spent a lot of time building itself back up and much of that time has had a negative effect on the labor market. Some employees have been stuck in jobs they didn’t like without the option to leave, but now they’re leaving in droves. Other employees have had to sacrifice engagement and education on account of economical hard times. They may have taken jobs that didn’t suit their career aspirations or held off on higher learning, just to get by financially. These two crucial factors have created an unfortunate scenario for hiring managers and recruiters. The challenge is now twofold, with companies losing their employees and being unable to fill those new vacancies with qualified applicants.

Employers Making An Effort

To help fix this potential talent gap, recruiters and employers will have to combine their experience with a bit of creativity and flexibility. Employers will have to start by assessing their current talent pool, figuring out how to keep them happy. Small steps to engagement can include remote working or flex time offers, paid training or financial assistance for college courses. While a cultural overhaul can take some time, keeping employees involved and engaged in the process might change their minds about leaving. Most people are anxious to find new jobs and with a few modifications to their happiness, they’ll be content to reinvest in their career with the same company. Additionally, hiring departments may have to look back on past hires, to see if boomerang employees are interested in returning. Employee referrals will be an asset, providing applicants with detailed and accountable hires. Managers can also look to building up a pool of freelancers, to fill in any hiring gaps and decrease the anxiety of long-term job vacancies.

Recruiters Navigating and Innovating

As for recruiters, they’re really going to have their work cut out for them. With a job seeker market that puts candidates in control, recruiters will have to work faster and harder to hire top talent. They’ll have to deal with candidates who are getting multiple offers and building a sense of confidence heretofore unseen in the market. Recruiters will need multiple options on the table, rather than keeping candidates waiting while they speak with hiring managers. Company culture, perks, and bonuses will have to be part of the selling tactics, with recruiters pulling out their best counteroffer strategies.

As with all things, technology will also play a vital role in recruitment this year. Rather than sifting through outdated resumes, recruiters will use LinkedIn more than ever to find the right talent. Mobile technology will continue to dominate hiring practices on account of its accessibility and speed in the recruiting process. Video technology will also be an asset, supplementing the identities of top companies and convincing candidates to take a job offer. Digital recruitment platforms will also strengthen recruiting efforts, helping with the speed of interviewing and screening for qualified applicants (not to mention the proven results for quality and compatibility, leading to lower future turnover).

With organizations growing upwards and the demand for talent increasing, recruiters have tons of work coming their way. But dealing with client demands will be just as much of a challenge as dealing with a candidate-driven market. And all of these demands will have to be met with faster speeds and high quality results. So how many of you recruiters are up for the challenge?

Interested in learning how RIVS Digital Interviews can streamline your recruitment process? Request a free demo here.

 

Image used under Creative Commons from BAKOKO.