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Recruiting in a Candidate Shortage Market
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Posted in Employers, Recruitment on Jan 29, 2020 by Keeley Edge
In recent years, many companies have been finding it difficult to fill roles due to a shortage of quality candidates. In some sectors, this is because of a skills shortage, while in others, it is down to the changing demands of employees.
Fortunately, the right candidates are out there, and companies can take effective steps to ensure they attract them. Here are our tips for how to recruit in a candidate shortage market.
Upskill Existing Employees
If you are struggling to find new candidates to fill senior roles, then it may be beneficial to upskill existing employees and backfill the lower level roles instead.
Many employees are looking for development opportunities, and a fresh challenge is a fantastic motivator. Existing employees will already have knowledge of your operations and the company culture and vision, plus they can pass on their existing expertise and knowledge to the incoming candidates.
Approach passive candidates
Many companies focus on the candidates who are actively seeking roles, but this can mean missing out on the best people. While it is easier to wait for candidates to come to you, if somebody isn’t looking for a new role, then they are unlikely to see your job advert.
Taking time to search out and approach the people you want is often worth the extra effort. With sites like LinkedIn, you can find people with the right skills and experience and let them know you have a vacancy that may be of interest.
If you are working with a recruitment agency, then you may find that they already have a database of candidates that might be waiting for the perfect role to come up.
Employee referrals
If your employees enjoy working for your company, then they’ll be your best advocates for attracting new talent. They may know several people who would be suited to the role – people they went to university with, people they worked with in previous roles, people they have met while networking.
Encourage employees to refer candidates. They will know what you are looking for, and they will be able to promote the benefits of working for you.
Understand the needs of employees
Many employers still have the misconception that employees are only interested in making money, but this isn’t the case. Many employees want job satisfaction and opportunities for progression, rather than just an incremental pay rise each year.
Our article ‘what do today’s workforce want from an employer’ offers insight into what today’s candidates are looking for.
Offer training and development opportunities
Technology is evolving at a rapid pace; as a result, many industries are forced to change how they work.
Savvy employees understand that their skills can very quickly become obsolete, which can put their job at risk and hinder their chances of finding new roles.
They are therefore more inclined to choose companies who invest in training and development, where they will continue to evolve.
The opportunity to work internationally can also be a big draw for some candidates, allowing them to travel and experience different cultures and environments.
Offer flexible working opportunities
Companies that offer flexible working options will attract more candidates. If employees can work from any location, you aren’t limiting your candidate pool to local talent. If you allow employees to fit work around their other commitments, then you won’t miss out on those highly qualified candidates who just can’t commit to a traditional 9-5.
Of course, flexible working isn’t just about working from home or letting employees choose their start and finish times. We cover flexible working in more detail in our guest blog, ‘flexible working – why you should be interested.’
Improve your employer branding
Candidates are becoming increasingly more selective about the companies they want to work for. They are looking for companies with a good culture and clear values. Candidates will research companies before deciding whether to apply, which is why it is important to have good employer branding.
What are your employees saying about you on social media and sites such as Glassdoor? What impression does your company website give to potential candidates? How are candidates treated during the recruitment process? All these things can have an impact on your recruitment success.
We cover employer branding in more detail in our article, ‘how to improve your employer branding.’
Recruit to train
It is important to understand that you might not find your ideal candidate and therefore, you need to be flexible. Offering someone a fresh challenge can be more motivating than simply offering a bigger salary.
Finding a candidate with the right attitude and then training them up to do the role could be a better option than leaving the role empty for months. Not only will you have someone in place sooner, but your existing staff won’t have to pick up the slack while you spend months recruiting.
For entry-level roles, you could consider apprenticeships, and for higher-level roles, you could fund the cost of obtaining relevant accreditations. The extra cost of training someone to the right level is often only equivalent to paying a bigger salary to somebody who is already qualified.
Speed up your recruitment process
Companies often miss out on good candidates because their recruitment process is inefficient. If a candidate is left waiting too long between applying and getting an interview or between interviewing and getting an offer, they might secure another role in the meantime.
Ensure your recruitment process is efficient and make it convenient for candidates. When possible, be flexible with interview times to suit applicants. They will feel more valued if you are prepared to work around them by offering interviews outside their current working hours or around other commitments.
Ensure that you maintain communication throughout the process, so candidates aren’t left frustrated.
Counter the counter-offers with opportunity
It is not uncommon for the most talented employees to receive counter-offers from their existing employer when they hand in their notice. However, don’t lose heart and don’t be tempted simply to offer more money.
Research has shown that 40% of professionals who accept counter-offers consisting of a pay rise only are searching for another job again within a year. This shows that money is not the only motivator.
When a candidate is offered a pay rise to stay with their existing company, remind them of the opportunities you are offering in comparison. That might be development and training opportunities, clear routes for progression, overseas working, flexible working or something else.
Be flexible with the criteria
When hiring a plumber, you don’t expect them to be an expert electrician, plasterer and joiner as well, so be realistic about what you want from a candidate. You need to understand that you might not find the perfect person.
Instead of listing endless criteria in your job advert, decide which are the most desirable or essential skills. You may find somebody who has years of experience doing a similar role but for a completely different sector. Or you may find somebody with a lot of experience who is looking for a complete change of direction.
The more flexible you are with your criteria, the wider the candidate pool. Look for transferrable skills, not just exact matches.
Work with Key Appointments
Too often, companies miss out on good candidates because they give the task of recruiting to somebody in-house who doesn’t have the time or experience to give it the attention it requires.
At Key Appointments, we can support you with every stage of the recruitment process, from setting the role criteria right through to assisting with the candidate induction. We ensure constant communication with candidates and an efficient and effective recruitment process to help you secure the right people.