Today’s labor market presents a completely different scenario when it comes to recruiting in 2017, and I don’t believe it will be changing soon. A simple Google search on hiring in this tight candidate market brings many articles from Forbes to the Business Journals, so it is Real. It comes up in every meeting we have with hiring companies. Some companies are quick to embrace this and strategize accordingly, others have a hard time changing from their normal hiring procedures; which can be drawn out, timely, and in turn, they unfortunately often lose their top candidates. I’d like to share some things that you can implement today to help you be more effective and competitive in securing the best talent in a candidate driven market:
- Review and make appropriate changes to your hiring process today. Some simple things can be: obtaining a commitment up front in the hiring process from the hiring manager/s by securing dates on their calendar that will be held for interviews, have a weekly touch base call with each candidate in the process, be prepared to make a decision quickly (candidates are not as patient in this market because they know they can go elsewhere)
- Be in discussion with your candidates regarding any other potential opportunities they may be considering (both external and intern with their current company) and have a detailed understanding of the timelines of those opportunities you are competing against. We recently had a company identify one of our candidates as their top choice and she was ready to accept the offer once it came, their process was delayed, and in that time her boss resigned and she was offered their role and chose to stay.
- To get the best candidate, be willing to make changes. We recently had a company who changed a section in their non-compete clause in order to get the person to accept the offer. It was the right decision, they secured top talent.
- When the housing market is booming, time kills all deals, this is exactly the same with this current candidate market. You have to be prepared to make decisions quickly to get what you want. If it’s a priority to hire top talent, make that priority a team commitment. And expect to see the same things in a strong housing market: more negotiation, higher offers, counter offers…..in general, the need to become creative.
- Put more emphasis on establishing a relationship with the candidates early on in the recruiting process. Be 100% honest and transparent regarding the opening they are interviewing for, and tell them each step of the interview process up front, this will help to develop a good rapport of trust and commitment with your candidates.
So much has changed over the years on how to recruit, remember posting ads in the newspaper? This is no different, you have to change to be successful. It is fast paced, so be strategic and come out a winner!
CEO- Sims Executive Search LLC