In the past year, many companies have seen their workforce’s grow. Unemployment rates continue to decrease as we enter the New Year, which means continued competition to hire top talent.
How does your hiring process measure up to this challenging employer market?
Do you have procedures in place to not only attract new talent but also to retain the valuable employees you currently have?
Acknowledging changes and challenges to the employment landscape are key to making sure that your workforce grows successfully in 2016.
One of the biggest changes we have seen in the last year is the shift from an employer-driven market to a candidate-driven market.
Candidates, particularly Millennials, who highly value work-life balance, have a different attitude and outlook towards their hiring experience.
These candidates will not tolerate weak employer brands, difficult applications, abusive work hours, or bad candidate experiences.
How to Address a Candidate-Driven Market? Change Your Recruiting Strategy, Tools and Approach:
- Many companies are too slow to make an offer to the candidate. This delay in action allows ideal candidates more time to look for other opportunities. Companies may want to reevaluate their hiring process if they can’t seem to snag the candidate fast enough.
- Companies should realize that many of the candidates who interview are often already employed. Time is money. Candidates might be displeased if they took time off from their current job to go through a lengthy interview process, only to be provided with a less than satisfying pay. Candidates have more options, so offers are becoming more competitive. This may not only apply to salary improvements, but also to “soft” benefits like insurance, vacation time, maternal/paternal leave, and other work/life accommodations.
- Improving the candidate experience can be one way to sell the candidate on your company brand. Since more candidates have multiple offers from companies, more communication throughout the process helps to reassure the candidate that they haven’t been forgotten.
- Candidates are now focusing on advancement opportunities within an organization, rather than just compensation. Companies should be aware of how to sell not only their brand and job positions, but also growth opportunities.
Talent in the workforce is the backbone to any company and for employers it would be unwise not to enhance their hiring process to recruit the best candidates.
Candidates will likely favor and recommend a company with a faster, easier and more engaging recruiting process.
Understanding these changes and increasing your knowledge on employment background screening and recruiting can be the fastest way for you to find the best talent.
HireRight’s 2016 Annual Employee Background Screening Benchmark Webinar can assist you in evaluating these changes and more.
It includes input from over 3,400 professionals around the world and covers a wide range of topics that may help you improve your recruiting processes and hiring outlook.
Download: The 2016 Employment Screening Benchmark Report
HireRight’s 2016 Employment Screening Benchmark Report
Data and facts gathered from thousands of HR professionals sharing common practices about their employment screening programs.
Their answers provide you with insights on the current hiring landscape, employment screening challenges, and new initiatives planned for 2016.