The United States is facing a deficit of quality talent. With millions more job openings than unemployed workers, employers are finding the job market a frustrating place to be. In fact, 81% of businesses feel they have been affected by the lack of skilled candidates in the current job market. Job seekers seem to hold the power as employers grow desperate for qualified workers.
As unemployment continues to decrease, job postings are not enough to reach most of the potential candidates for an open position. The passive candidates – those who are not currently looking for a new job – will not be reached through a job board. Only a recruiting and outreach strategy will connect a company with 100% of the labor market.
There are two main ways an organization can improve their recruitment strategy: commit to a direct hire and speed up the hiring process.
Commit To Direct Hire
While bringing in contingent labor can immediately alleviate the burden of a vacancy, it is not a long-term staffing solution. Temp-to-hire arrangements allow the candidate and company to test out the connection and rapport between a new employee and the company, but is only an attractive option for a currently non-working candidate. Employed candidates would not consider leaving their position for an opportunity that does not guarantee permanent employment.
“Our clients are finding success with our Direct Hire Solution,” says Colleen Clokus, Chief Operating Officer of Employment Enterprises, Inc. “The only way to convince someone who is already working to leave their job is to bring them on as a full-time employee. We facilitate the recruiting process and provide our clients with qualified candidates that they can choose to hire.”
A direct hire employee will also have increased loyalty and feel more connected to the company than a temporary worker would. This connection bolsters the company’s retention and makes it more likely that new employees will find their place at the company and stay.
Speed Up the Hiring Process
The average time-to-hire lasts around 43 days and costs employers $4,129. Meanwhile, 62% of workers say they lose interest in two weeks if they don’t receive feedback after an interview. If you speed up the hiring process, you’re not only making candidates happier but also saving the company money!
How can you implement changes to speed up hiring? Consider scheduling interviews with several company stakeholders on the same day instead of spreading them out over days or even weeks. Or consider a panel interview, where the job seeker meets with several people at once. If not everyone can attend a virtual or panel interview, consider recording the interview (with the candidate’s permission) and sharing with those parties to keep the process moving forward quickly. Another helpful tactic is to send any required assessments quickly and ask that they be completed prior to the interview.
You can also consider partnering with a trusted workforce solutions company to speed up your hiring process while reaching candidates you can’t reach on your own. At Employment Enterprises, not only does the pipeline of qualified talent already exist, but expert recruiters are able to reach passive candidates.
Your recruiting partner will source, screen, and vet the top talent you’re looking for, even for highly skilled or niche positions. The emphasis is placed not only on hiring the right person for the job itself, but also finding the culture fit for the company.
If your company is part of that 81% of businesses that are feeling the lack of skilled candidates, it’s time to make a change to your recruiting strategy. Reach out to Employment Enterprises today for more information about how we can strengthen your workforce.