Today’s competitive job market is a lot like an Easter egg hunt. Many employers are on the hunt for fantastic candidates. And in this competitive market, it can be challenging to find the “golden egg” of a candidate. According to the latest JOLTS Report, there were 7.1 million job openings in the US in February. That’s a lot of job openings! But the tricky part here is that there are currently only 6.2 unemployed Americans. In other words, there are not enough eggs (candidates) to fill your basket.
No matter how hard employers search for qualified candidates to fill their open roles, they are coming up empty-handed. If you want to efficiently find great candidates to join your team, here’s how to ensure your search doesn’t result in an empty basket.
Stop hunting for golden egg candidates
Like with an Easter Egg hunt, there is often a golden egg; an egg that everyone is after because it’s filled with candy or has some grand prize in it. But in this market, employers cannot afford to be searching for that special egg. You can’t wait around for the “perfect” candidate to walk through your door.
If you find some good candidates that cross off most of the requirements on the job description, take a chance on them. If they have the right soft skills and a great attitude, you can easily teach them some of the hard skills that they may need to acquire.
Take a page out of Peter Cottontail’s book
There’s no time to casually stroll down the bunny trail. You have to swiftly hop down the trail to find the talent your team needs. In other words, you must move candidates along quickly. With more jobs than people to fill them, it’s a candidate’s market. Your team doesn’t have the ability to take your time throughout the hiring process.
Put together a competitive offer
In this market, you have to put together an attractive offer. You have to offer a competitive wage to ensure you keep your prospective candidates on the hook. According to the Bureau of Labor Statistics, hourly wages have increased 3.2 percent over the last 12 months, for a total hourly rate of $27.70. Wages have steadily been increasing the last year and if your company isn’t offering a strong compensation package, you may be missing out.
Now, we understand that you may have budgetary constraints when putting together offer letters. However, there are other things you can offer besides money to entice candidates. If you can’t offer more money, try offering better benefits, including more vacation days or better work flexibility. In fact, Millennials, the largest growing workforce population, are willing to take an annual pay cut of $7,600 for a more desirable work-life balance and better work culture. So, if offering more money is out of the question, there are other ways to gain the interest of candidates.
Don’t go hunting alone
In this market, it may be difficult to fill your basket with the candidates your team needs. But you don’t have to go hunting alone. Partner up with a professional! Johnson Search Group is here to assist you with your search. Team up with a recruiter who knows the ins and outs of your industry, your organization, and your community. Let’s work together. Happy hunting!