Employers across the country are feeling the pinch of a multiyear labor shortage. Current employees are losing their ability to juggle the tasks left behind by former colleagues, leading to burnout and attrition.
A lack of qualified talent on your team paired with overworked and exhausted colleagues can spill over into your end product. When teams are working in these high-stress environments, error rates increase, and your bottom line could be at risk.
Business leaders need to shake up their recruitment and hiring strategies for today’s market conditions. By analyzing market demands, adjusting policies, and improving the candidate experience, companies can attract top employees in a persistently tight labor market.
1. Match Modern Employee Needs With an Attractive Opportunity
Due in large part to the COVID-19 pandemic, remote and hybrid work options have now become standard expectations among candidates across the globe. Workers have come accustomed to a level of flexibility that very few are willing to let go of. If your company hasn’t modernized its processes, equipment, and policies to accommodate alternative work environments, it’s time to start.
When you offer hybrid or remote work to potential candidates, a world of opportunity awaits — literally. The global employment market is almost guaranteed to hold individuals with the skills and experience you need. Whether you want to increase customer service coverage or seek hard-to-find technical experts, international employees may be the answer. With many workers relocating abroad in recent years, a global hiring strategy can help you recapture domestic talent, too.
Review your organization’s current state to determine the upgrades you’ll need to make before you pursue international employees. Collaboration spaces, technology devices, and human resources policies and procedures should be assessed and updated for the future state. Partner with an employer of record to help you manage benefits, payroll, taxes, and country-specific rules. An EOR will ensure your organization is compliant with the law and help provide your global hires with attractive opportunities.
2. Focus on Skills Match Over Prestigious Qualifications
Research has shown that women are less likely to apply to roles when they don’t match 100% of the qualifications. Men, on the other hand, tend to apply once they achieve a 60% match to a position description. This self-disqualification can lead to fewer female job applicants and, ultimately, a less equitable work environment long-term. Organizations can increase their talent pool and ensure their employee makeup is diverse by focusing on skills over education.
Human resources leaders have identified skills matching as one effective strategy to increase talent attraction and career growth. While traditional degrees and credentials have their place, these educational achievements aren’t the only way talent can develop. On-the-job training, measured successes, and skills acquired through non-degree programs provide candidates with valuable skills your organization needs.
In the technology space, the landscape changes fast, meaning that traditional education can lag behind innovations. Coding and cybersecurity boot camps provide focused education and real-life training to individuals of all backgrounds. Often led by industry giants, these immersive education environments transform novice students into highly trained, in-demand candidates.
Upgrade applicable job descriptions to focus on skills, leaving traditional education optional to attract a broader range of candidates. Review the skills and traits of your organization’s top performers to support the skills listed in your job descriptions. By using your organization’s performance data, you can match your hiring needs against verifiable criteria for success.
3. Tighten Your Time-to-Hire with a Well-Crafted Process and Training
One of the most common complaints among job candidates is the level of difficulty in applying for a position. When they encounter multiple repetitive steps in the application process, many will abandon the attempt entirely. If your talent acquisition portal indicates a high abandon rate, that may be a sign that improvements are needed.
First, review what you’re asking of potential candidates. If applicants are required to complete numerous forms and upload their resume repeatedly, you’re eliminating top talent at the beginning of the pipeline. Any duplication of effort leads to frustration and potential application abandonment, especially among in-demand candidates. Choose one method of application and stick with it to improve your application completion rate.
Next, assess your internal practices once you receive applications. Devise a fast and repeatable process where applications are reviewed, filtered, and moved forward quickly. Individuals your company would like to hire are likely in demand elsewhere, so time management is essential.
Collaborate with the hiring manager to pre-schedule potential interview times so your interview team is ready to meet with candidates. Keep the interview team size limited and provide training on interview best practices, expectations, and methodologies for tracking feedback. This way, you’ll ensure each potential candidate is afforded a similar experience and method of measuring skills and culture fit. This practice can reduce your time-to-hire, resulting in reduced gaps in staffing, efficient employee onboarding, and better business continuity.
Position Your Company as the Target Employer for Top Talent
Top employers don’t just tout their attractive employment opportunities — they deliver on their promises to new hires. Ensure your attentive hiring process has a welcoming and engaging onboarding experience to match.
Use today’s labor conditions and market changes as an opportunity to enhance your total employee experience. Complement skills-match hires with enhanced training, educational opportunities, and career progression plans. When the employment experience mirrors the recruitment process, your company can enjoy better retention, higher employee satisfaction, and improved bottom-line results.