In today’s hiring landscape, job seekers are in control — and many employers are struggling to adapt.
According to a recent survey, 60 percent of employers are taking longer to fill vacant positions than they did last year due to the current hiring environment.
“The survey results confirm a significant shift of power from employers to candidates – largely fueled by sustained low unemployment and widening skills gaps that are making it more and more difficult for employers to find and keep the talent they need to compete,” Irina Novoselsky, CEO of CareerBuilder, said in a press release. “Nearly one-half of employers said it’s taking them longer to fill jobs today than in any other period in the post-industrial era.”
Like it or not, it’s a candidate-driven job market. Here’s what employers should do if they want to hire the best candidate possible for their open positions:
Improve your hiring process
Job seekers know they’re in control — and 43 percent say they have higher expectations for how employers will treat them as a candidate.
Almost all (82 percent) expect employers to give them a clear timeline for the hiring process, keeping them updated throughout. And more than half (68 percent) believe their experience as a candidate reflects how the company treats its people.
Speed up your hiring process
If you take anything away from these survey results, it should be this: employers must speed up their hiring process. In this hiring climate, if you wait too long to hire a candidate, they will find another opportunity.
More than half (55 percent) said they move on if they haven’t heard from an employer within two weeks of applying. Even after they’ve been offered the job and are going through the background check process, 51 percent continue to look for other jobs. Fourteen percent have even walked away after they accepted an offer.
Improve your onboarding process
Onboarding is crucial to retain your newly hired talent — and 93 percent of the employers surveyed agree. But 29 percent of employees said their organization’s onboarding didn’t prepare them properly for their new job.
New employees expect a lot from their organizations. Over half (51 percent) want HR to check in with them regularly during their first year of employment. And 19 percent want feedback on their performance once a month.
Work with a recruiter
In the current hiring climate, many people expect to be proactively recruited. In fact, 36 percent said they want to speak to a recruiter about a company they’re interested in before they even apply. And let’s face it — your ideal candidate is most likely already employed. So, to truly hire the best person for your role, you need to go after these passive candidates. But this strategy takes time, and you may not have the resources to devote to this method. That’s why many organizations partner with a staffing firm. While the staffing firm focuses on recruiting passive candidates, employers can devote their time to their busy day-to-day.
If you want to learn more about how we can help you hire the best candidate possible, contact us today.