With the COVID-19 pandemic finally curtailing and economies opening back up, what does hiring look like for you as a company?
It would be easy to say that it looks like it did before the pandemic, but we all know it doesn’t. Hiring looks different for the first time in many years. It was a candidate-driven market when COVID first hit, whereas it is somewhat of a hybrid today. In some areas of the country, there are many more jobs than candidates, and job seekers are in the driver’s seat. However, in many markets, we are seeing the opposite. There are only a handful of jobs and many candidates.
The Current Hiring Market
COVID unemployment benefits are discouraging many job seekers from re-entering the labor force. This has been an issue for many companies and will continue to be so for those hit hardest by the pandemic.
Elsewhere, jobs far outweighed the candidates before COVID, and now the problem has only multiplied. Companies must be willing to cut short-term profits to get the right employees in place to meet their long-term goals. Otherwise, they are essentially the proverbial “dog chasing its tail.” They will never get enough employees to grow to meet goals and forecasts. To accomplish hiring goals, companies must figure out a way to attract candidates. Implement remote hiring, expand PTO offerings or other fun perks like free lunch and snacks.
I am working with a couple of banks currently that are hiring higher-level positions. Those institutions are struggling to find people who are willing to move from the comfort of their current role to an unknown new company. This also requires some fancy footwork to incentivize candidates to make a move. We see some companies opening up jobs to different skill sets and even lowering hiring standards to get someone in the door. However, that is a short-term fix while not truly addressing the problem. How do you get people to want to move to your institution without giving away the farm or lowering our standards too low, thus creating an inferior product/service?
How To Attract These Candidates
The answer to both questions is to find a great recruiting firm to partner with. A stable partner has been through .com bubbles, housing crises, recessions, downturns, chaotic political spectacles, and crazy great hiring times. Johnson Search Group is that firm. We can assist you with finding the best talent for all your jobs. Be it temporary or contract help or permanent, full-time roles, we have you covered. We can help you find the best talent because we are the best search firm for your company. Contact us today to get started!