Staffing firms have faced tremendous pressure in the past couple of months due to the current pandemic, and with employers competing for a smaller talent pool, hiring candidates has not been easy.
We have reached a tipping point where there are more open jobs than there are workers to fill them. To avoid candidate churn and to improve hiring and retention, we wanted businesses to be aware of the top five challenges facing staffing in 2020.
1. Talent Shortage
With much of the best talent already employed, recruiters have to look beyond candidates who may be actively applying for jobs and instead use cold outreach techniques to find talented candidates who already have jobs. Professional networking via LinkedIn can help with this as people are open to new job opportunities, but it is up to recruiters to be proactive and reach out to find potential candidates.
2. Tough Competition
Fewer candidates mean more competition which is why businesses need to make their job offering more compelling and attractive. This goes beyond financial compensation! Some people prefer non-monetary job benefits as they can be key to boosting overall job experience and happiness. These include training, learning opportunities, more paid time off, gym memberships, and work from home options. Flexibility and autonomy can help interest candidates to pursue new job opportunities as these improve overall job satisfaction.
3. Long Hiring Process
If your hiring process is slow or takes too long, your candidates may look another way or check out. Businesses face risks when the hiring process takes too long. For instance, the candidate may not feel as valued making them disinterested, or the candidate could be approached by a competitor. The candidate could also already be interviewing with multiple companies and take an earlier offer, which is why staffing firms need to stay on top of their game when it comes to hiring top talent. Hirers need to inform candidates of what’s happening throughout the hiring process and provide incentives so that they stay interested and keen.
4. Be Transparent
Top candidates can afford to be selective, which means that they are vetting companies as much as businesses are evaluating them. This can be a challenge for staffing because your reputation is key and hirers should work to make turnover as smooth as possible. Remember, retention is a priority!
5. Employer Expectations
Employers who are seeking top talent need to be realistic about their expectations. Low-ball salary offers, refusing to cover moving costs, not providing medical and dental benefits, or a 401k plan can hurt your hiring efforts. Even benefits such as workplace flexibility, remote work options, continuing education, and training opportunities can help boost a candidate’s interest. You want them to want you as much as you want them!