How to Hire in a Candidate Shortage

The job market today is nothing like it was a decade ago--or any time in the recent past. Today there is a 3.7% unemployment rate, and the job market is candidate-driven rather than driven by the companies that have jobs available. This can be a challenge for firms looking to hire the “best of the best” in talent. There are more jobs available than people to fill them.

Luckily, it is still possible to hire great employees; it just takes a bit more effort and know-how than it may have in the past. We’ve put together a few tips to help you through this process.

1. Shorten the Hiring Process

More companies compete for the same talent when there is a candidate shortage. That’s why doing everything you can to shorten the hiring process is key. The first step is to define the required background.  Next, the appropriate candidates must be identified and sourced. This step has become more challenging due to the low unemployment rate. 

Using more aggressive techniques is the best way to create a great candidate pool. This involves pursuing candidates that meet your criteria but are not actively looking. Job postings are not as effective since the best candidates are not actively looking for a new position.  

2. Use a Variety of Sourcing Techniques

In “leaner” times, many candidates likely came directly to you. Today, if you want access to the best variety of candidates, you need to use multiple sourcing techniques. Consider employee referral programs, online job boards, LinkedIn (and other social media websites), and your human resources department. Another highly-beneficial source of candidates can be a third-party recruiting firm such as Connexis Search Group.  Recruiters use aggressive techniques that internal recruiters and HR don’t have time to employ due to their workloads. (Most internal recruiters are working on 5 to 10 searches. Connexis Search Group, for example, only assigns 2 to 3 searches per recruiter.)

3. Diversify Your Candidates (But Don't Expect a Huge Pool)

Now is the time to look beyond your typical candidates. There are candidates available that are sometimes overlooked, like semi-retired individuals. And as life expectancy increases, senior candidates realize that retiring has some drawbacks. Many retirees need extra income to supplement their retirement. Others are bored and want to be productive. Our firm recruits in the medical device industry (molecular diagnostics, point of care testing, diagnostic capital equipment, etc.), and we have placed semi-retired candidates with much success. Most have an incredible work ethic and 30-plus years of industry experience.  

4. Promote Your Employer's Brand

If you can develop a reputation for being a quality employer and a great place to work, you will have a heads-up on other employers in this candidate-driven market. Great benefits and unique perks can attract the most qualified candidates to your business. Also, check your online personae and make sure it cultivates the feel you are trying to convey to those who may consider applying to work with you. For the best results, hiring managers need to be actively involved in the search to attract the best candidates. The person you hire is joining your company because of you. By being available and present, candidates will feel more in tune with the pulse of your firm.

In conclusion, a candidate shortage means you may work a little harder to bring in those great candidates. However, it is possible to develop a high-quality workforce if you’re willing to be creative and put in the effort. If you want assistance with reaching this goal, check us out at Connexis Search Group. We give companies a competitive edge when searching for qualified candidates.