BY C. Lee Smith
The battle to hire talent, especially highly skilled employees, may not be as challenging as it was last year. But you’re still competing with businesses that are after the same prospective employees. To achieve success, you must convince potential employees that they’ll thrive in your organization.
Hiring Talent in the Current Labor Market
After the high-profile layoffs occurring in the past year, you may think that job seekers would rush to apply for your open positions. When that doesn’t happen, it’s worth considering the expectations of your prospective team members.
Some job seekers are selective about the positions they’re seeking. They will only apply for positions that allow them to work from remote locations. Our research indicates that factor is key for nearly half of adults who are seeking better positions this year.
Other prospective employees are not actively seeking work. They are instead focusing on developing their skills. Or they may be furthering their education. If your job descriptions don’t address the career building potential at your company, your application volume may fall short.
Every attempt to hire talent should also address compensation. Employers can attract more female employees by offering pay packages that come closer to what men are earning. The pay difference between genders, based on equivalent experience and education, is currently 16.4%.
Higher pay rates for female employees eases financial burdens, especially for team members who have child care-related costs.
Deliver What Employees Seek
In the past nine years, there has been a shift in what employees are seeking from organizations that hire talent. Last year, the following factors ranked as the top three in importance according to Boston Consulting Group (BCG):
- Job security
- Work-life balance
- Financial compensation
A deeper dive into the BCG numbers shows which employees expressed the most concern about work-life balance. It’s workers between the ages of 31 and 50. These team members often have children or other family members to care for.
Job security looms large for all employees who worry that technology will make them obsolete. These team members want to know that their next employers will help them maintain or improve their skills.
The Power of Reputation
In our most recent AudienceSCAN survey, 30% of job seekers value company reputation. Their consideration of an employment offer is linked to reputation, and that includes details like job security and work-life balance.
Workers also want to be associated with a scandal-free business. They also expect to be treated well during the interview process.
The quality of every employee’s interaction with your candidates is important. Train them to think of your candidates as customers. You want candidates to have a great experience, especially if there is a chance that you will hire them.
Keep in touch by email to let them know the next steps and your decision time frame.
Acing the Interview
If it’s been a while since you’ve interviewed for a job, you may not remember the stress your candidate feels. In this situation, you have the power. And the candidate wants to make a great impression.
This is your opportunity to treat them well and learn whether they might be a good fit for your organization. Before the interview, ask them to take a psychometric assessment. Those results can help you personalize the interview questions.
Remember that you are under review during an interview too. The candidate is deciding if they want to work for you.
Swaying Your Top Candidate to Accept Your Offer
As you consider what to include in your initial offer, review the individual’s psychometric assessments results.
The information reveals top motivators for a candidate. While financial compensation is always important, a candidate may be swayed by other factors. If they have mentioned their interest in a managerial position, mention the potential for training in that area.
As huge tech-based changes sweep through the labor force again, job seekers are hyper-focused on AI. Over 40% of the workforce in some industries use generative AI for assistance with tasks such as research and writing. Be prepared to discuss how your company plans to use this technology in the immediate future.
The need to hire talent never gets easier. But you can improve your outcomes by maintaining a great reputation and delivering a quality recruiting experience.
Photo by Tima Miroshnichenko on Pexels