When there is a large number of job seekers, hiring managers (recruiters) have a lot of choices. But, if there are more openings than skilled candidates, filling job positions becomes challenging.
In a candidates’ marketplace, hiring professionals must work harder to acquire top talent. As opportunities for job seekers improve, learning how to handle a candidate-driven market is vital for recruiters.
Slow moving managers end up losing good candidates.
Hiring managers must understand that winning the war in today’s solid candidate marketplace is tough and certain ideal steps should be taken to ensure that you end up hiring possibly the best talent for your organization.
A candidates’ marketplace means that applicants can be more selective than you think. While more options are perfect for job seekers, but that does not imply offers are being handed at a lighting speed. Even if the right talent is discovered, there’s no guarantee that a vacant position will be filled.
Individual research reports have concluded that many hiring managers are often hesitant to hire, creating long waiting times. Participants opined that their second biggest stress was due to clients who make slow offers to job candidates.
So what can a hiring manager do to enhance their recruitment process and end up winning the war for talent in a tough candidates’ marketplace? Take a look at the following steps:
#1. Be adaptable and selective
Being flexible and targeted is essential to winning the war for talent within a demanding candidates’ marketplace. Filling a position is easier when you have more candidate options. Understand that as a recruiter or hiring manager you have to compromise while you are at alighting to a candidate’s marketplace. Recognize that you cannot control the candidates’ market, but you can always manage your hiring process and time. For that, you need to be somewhat adaptable and of course selective to a great extent.
#2. Know your needs
For many hiring departments there’s difference between the job description and the actual skills required to excel in the job. As hiring managers, you need to know your exact needs to be able to hire the best possible candidates. To focus on your job search, make a list of all the skills that you are looking for in a prospective candidate.
#3. Improve candidate experience
Good candidate experience should be at the top of your list to stay above all competitions. Skilled workers know that they have options and have high expectations from their future employers.
Slow hiring practices are usually not good for offer substantial candidate experience. To make the process somewhat easier for candidates, make your application process more streamlined, make personal connections and also work towards developing a good employer brand. If needed, also update the technology that you use to recruit candidates such as your applicant tracking system.
In a candidates’ marketplace hiring managers need to keep their gloves up. Job seekers often hold power when it comes to their salary expectations and negotiations.
On a final note, it can be said that hiring managers need to face the reality of a candidate-driven market. Not paying enough for top talent could cost you good placements. That doesn’t mean that you should offer compensation beyond your budget to secure a good employee. But being flexible can give you an upper hand while trying to hire great employees – whether it is about offering a good candidate experience or compensation, some amount of flexibility needs to be embraced by recruiters and hiring managers.