Hiring during low unemployment can feel overwhelming. With the national average at 3.5%, it’s the applicant’s market. The U.S. labor market is the tightest it’s been in recent memory since 1969. While hiring during low unemployment can feel overwhelming, there are a few strategies to make sure it doesn’t happen to your company.
Are Starting Wages and Benefits Competitive?
Checking your competition’s wages and benefits before any action can save you both time and money. It can be hard to compete if you don’t do this simple step. Read the job listings on job boards for clear information and check on sites like Salary.com for what the going rates actually are. This will give you leverage for when you do find candidates. Hiring during low unemployment means you need to offer at least as much as your competition, if not more!
Check Your Company Culture Before Hiring
“People don’t leave companies, they leave managers” is the saying, but people also leave toxic workplaces. If your company has a high turnover, then consider how you can make the entire environment better for those people you have now. After all, people trust other people’s referrals more than they trust company ads. This is the era when online and anonymous company reviews are available anywhere there’s WiFi. While the times of ping-pong tables seems to be wearing thin, employees do expect certain perks that can be relatively painless for the employer. Allowing employees to work remotely, flexible work times, and unlimited vacation time are the popular top three, but you could also consider a whole wealth of other options like healthy snacks on-site, gym memberships, and on-site career development. Once the changes are made, be sure to list any perks in your help-wanted ad.
Consider Expanding Your Hiring Options
Can this position be done remotely? Do you need them to pass a background check or is that optional? Do they actually need to have a college degree or would college drop-outs with experience fit as well? Reconsidering the requirements can change the change the landscape for the amount of applicants. Consider only listing the most important requirements instead of all of them. The “all or nothing” approach doesn’t go far in this economy. If you absolutely cannot change any of the requirements, consider advertising on multiple job boards or on social media to reach more people. Promoting positions using social media has varying degrees of success depending on the audience and skill level you’re looking to reach, but it can be successful.
Make Your Job Ad Stand Out
Writing a good job ad makes all the difference. Sorry, but using a list of bullet points isn’t going to sell anyone on going the extra mile when the competition is selling their opening with a long list of benefits and a pool table to boot. Hiring during low unemployment means those that are looking have a lot of options, so yours needs to stand out! You have to really sell why everyone should apply to your job and make sure that you would apply to work at that place if possible! Would you treat your customers like you treat your candidates? There are more customers than candidates now, so make sure to sell the position, but sell it truthfully. The last thing you need is to hire someone who then quits!
Communicate Clearly and Quickly
Qualified candidates are already in high demand, so taking time to think over who to hire can mean losing out on great candidates. It has to be assumed that top talent already has other interviews, so if they get an offer somewhere else first, your offer will fall on deaf ears. Don’t be careless when choosing who to hire, but be decisive on what the exact skills they need to have before interviewing and be sure to set the tone in the interview about when the hiring decision will be made – and then stick to that timeline.
Consider Hiring a Staffing Agency
Yes, we’re biased, but it’s true! Staffing agencies have access to more than most people realize and we can solve this problem for you. If you’ve done all of these things and still don’t have any luck, please reach out to us. Find out if we would be a good fit for your company here: Specialties
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