The job market is facing an all-time low unemployment rate. There are fewer people looking for jobs. While this is good news for the economy, it comes with very real challenges for the recruitment industry. Hiring professionals now face a bigger challenge when finding and recruiting employees. Fortunately, as professionals in the executive search industry, we’re here to help.
In this article, we list down four of the biggest problems job recruiters are currently facing, as well as tips on how to address them.
#1: Its not luck, its where you look
With fewer job seekers, finding the right person for a job is like looking for a missing item in the dead of the night. The best applicants are always hired on the spot and are off the market almost as instantly as they were on it. Hence, the headhunting industry is shifting towards candidate-driven, trust & relationship approach. When you identify top talent, move forward in the evaluation process immediately. If you’re sure that they’re a fit, don’t hesitate to attract them in and where relevant to offer. If they are a competitors most valuable asset it stands to reason they will not be on the market for long and once approached their eyes are open.
Hiring professionals need to adapt to changing times in order to stay relevant in the recruitment and executive search industry. While there’s still merit to traditional methods of hiring and communicating with potential candidates, you’ll need to be more aggressive in your approach. Look into those working for the competition and in similar industries.
Of course, every executive search company looks for a certain set of skills and characteristics inline with the brief. Its worth noting there are a number of value adds if you are able to attract from your competition, least not that it will set a competitor back but that it will offer learning curves and embedded vertical / domain knowledge.
#2: Analyse the competition
With a smaller pool of top talent, the competition to find and attract only grows. We find that human resource departments, therefore, need to implement a strategic hiring process similar to its sales and marketing. To be successful, you need to analyse how your organisation compares to the competition. Ask these questions as you do your research:
- What perks, amenities, and salaries do other companies offer their employees?
- How can you boost your brand identity?
- What can you offer to stand out?
Make your company look the better option by providing attractive benefits and compelling offers. If your department does not have the salary budget to match or beat other companies, you can make certain concessions and offer other benefits that are equally valuable. These include a flexible schedule, the opportunity to do remote work, gym membership, paid leaves, a pet-friendly work environment, health or education reimbursements, and other similar perks.
#3: Make the hiring process easy and simple
From the time you post a job listing to making an offer, the hiring process can take some time. You’ll need to review resumes, conduct background checks, and interview applicants in between. The majority of applicants want to start as soon as possible and will likely go for the first company that makes them a generous offer. To this end, you will benefit from having a streamlined and efficient way of recruiting candidates. While you want to review all applicants thoroughly, a lengthy and complicated hiring process could deter a potential employee from choosing your company.
#4: Make an attractive offer
After finding the right candidate and completing the hiring process, it’s time to make an offer. Keep in mind that for many of today’s job seekers, the salary is only one slice of a big pie. Most applicants put more premium on the company itself, its workforce, and the brand. They also value other benefits that focus on giving a work-life balance. Just as they put their best foot forward when applying for the job, you have to return the favour and present the company well. Take the time to properly relay your mission, goals, and company values. Introduce them to key team members so they can get acquainted with the organisation on a more personal level.
The hiring process can seem simple in theory, but the truth is that it’s the finetuning that brings about results. Don’t have the time or expertise to do it yourself? Perhaps it’s time for you to work with a bespoke challenger search company! The services of an expert headhunter can be invaluable, especially when it comes to key leadership positions.
These days, the recruitment process has grown more complex, given the increase in competition for top talent. With the expertise of a bespoke executive search company, you can reap the fruits of a hiring process that obtains individuals who contribute significantly to the bottom line.
If you’re looking for a bespoke executive search company in the UK, get in touch with us today to see how we can help.