Today’s job market is a real puzzle. Due to recent surges in tech layoffs, thousands of qualified individuals are without a job. However, the labor market is still strong, with historically low unemployment rates. Alongside this, candidates are seeking positions that provide ample flexibility and steady growth. It’s a strange market for recruiters and recruitment strategies to navigate.
As a hiring manager, you can take solace in knowing that you aren’t facing these challenges alone. Nearly every recruiter today is dealing with the same obstacles as you are, no matter the size of the company. The key is acknowledging these difficulties and finding responses to them. Here are four solutions to your recruitment woes that can help you start finding qualified candidates and hiring them quickly.
1. Get Professional Help
If you find yourself with a list of positions to fill and no potential candidates in sight, seek help. That’s right. The first solution to your recruitment woes may be to bring in some professional backup. There’s no reason for you to be spinning your wheels and scanning LinkedIn for hours for the perfect candidate. Rather, leverage recruitment services to help you scour the candidate landscape and land your dream hire.
An employer of record, or EOR, can work on behalf of your company to find candidates and employ them. Engaging an EOR can be particularly helpful when hiring candidates abroad since they handle benefits packages, onboarding, and other HR-related tasks. More importantly, working with an EOR means you can hire foreign citizens without having to establish a business entity in the country of hire. Such HR providers can also take the hassle out of complying with foreign hiring rules and regulations.
2. Look Internally
Another tactic to consider is hiring internally. You already know how current employees perform, including their professional skills and work ethic. If a new position opens up, see whether you can bring anyone forward internally to fill it. Sure, you’ll need to backfill their current role, but chances are it will be easier to find applicants for a more junior position.
Not only will internal hiring reduce the risk of a poor hire, but it also gives current employees an opportunity for growth. Other team members will see the potential for internal advancement, which can boost your retention rate and overall longevity. Another benefit of looking internally is reduced costs.
The Society for Human Resource Management reports that total hiring costs can be three to four times the salary of a given position. That’s why it’s advantageous to promote internally and backfill less senior (and therefore, less costly) roles with external candidates. Internal hires also take less time and overall commitment, as the current employee already knows the lay of the land. If the new shoe fits, then hiring internally is a winning strategy for the employee and the company at large.
3. Make Your Company Enticing
Some of the biggest tech companies — like Meta, Google, and Salesforce — are undergoing drastic layoffs. What does this mean for companies looking to hire as opposed to fire? The talent pool has grown, but candidates on the hunt for their next job are still looking for companies that stand apart. They likely received severance packages, so they may not be time-crunched to find their next opportunity immediately.
One way to entice them is to offer superior benefits. Employees today are looking for flexibility and security. They want their place of work to care about their mental health and offer support and resources. This support might entail a company-wide work-from-home policy or a four-day workweek. Research what competitor companies are offering and determine what additional perks will make your business stand out. Then make sure to list those eye-catching benefits on every job posting.
4. Shorten the Hiring Process
This last tip is a bit nuts-and-bolts and may not be realistic for every hire. Yet shortening the hiring process can help you land more candidates. A drawn-out, lengthy process wastes time and money — and raises the risk top candidates will accept another offer before you make yours. In today’s on-demand world, people have come to expect efficiency and speediness. It’s largely up to the hiring team to deliver this.
This isn’t to say that you should make an offer to the first candidate who applies. Rather, take a look at your typical hiring window for open positions. Is there a way to shorten the interview process? Perhaps the candidate can have multiple virtual interviews within a two-hour time window instead of in-person ones over a two-week span. If hiring for a specific role requires more time, be open about the process upfront so candidates know what to expect.
In today’s still-tight job market, you can’t just post a job listing and hope for the best. You need to stay on top of each posting and see how it’s gaining traction on various job sites. Also, be sure to remain engaged with “also-ran” applicants. Even if someone isn’t the right fit for this opening, they may be a great candidate for recruitment in a future position.
Remember that the hiring world is ever-changing, so stay on top of developments and use every tactic at your disposal. Along with spreading your company’s message on social media, you could start a referral program to incentivize current employees to recruit their contacts. Every job opening will have different needs, so remain open to possibilities and see each hire as a learning opportunity.