In the words of Joni Mitchell, “…don’t it always seem to go that you don’t know what you’ve got til’ it’s gone?” We often take for granted the better things in life when we get used to having them done a certain way. Employers are used to having the upper hand with candidates. However, as the job market shifts and top candidates are faced with more opportunities, hiring professionals and recruiters have to evolve their strategy if they want to win over the best candidates.
Employer Branding
Understanding what motivates job seekers is pivotal for employer branding. Job seekers are now placing more emphasis on professional growth, cultural fit, and a fulfilling career. In fact, 64% of millennials would rather make $40K at a job they love than make $100K at a job they think is boring. To effectively engage desired candidates, employers should promote their brand in a unique way that sets them apart from competitors. Like any other product or idea, employers have to sell the idea that candidates should want to work at their company.
Company Culture
Job seekers are placing an increasing emphasis on company culture in their job search. Nearly 80% of millennials look for people and cultural fit with employers and 83% of candidates would accept a salary 5% lower than their expected offer if the company had a reputation as a great employer. To attract the best and right candidates, companies should be honest about the culture they emulate and use personality assessments to help determine if a candidate is good cultural fit. Positioning the cultural message in a way that shows candidates they are valued and recognized will go on a long way.
Compensation and Benefits
As job seekers desire more and more to have a career plan that leads to professional growth, it makes sense that 76% of millennials say retirement benefits offered by a prospective employer are a major factor in their decision to accept a job offer. We’re in a day and age where job seekers are more intelligent and have countless resources at their disposal so they will most likely be informed about expected salaries and benefits for a given job. Employers can attract candidates by including a salary range and list of benefits on the job posting. Above all, employers should be honest about salary and benefits during the interview process. If a candidate is already considering another offer somewhere else, they will research to see which employer has a reputation for misleading candidates.
Expedite the Process
One of the most effective ways to land a top candidate is to get there first, which is why time is so important during the interview process. Employers should work to make the interview process as quick and effective as possible. Also, transparency with the candidate is important during the interviewing stages. Communicating to them how long the process will take and when they should expect to be contacted can make a world of difference. Only 26% of employers communicate to candidates about what stage in the interviewing process they are in. If a candidate is already on the fence, a complicated and lengthy interview process isn’t going to convince them to stick around.
Start Onboarding Before the First Day
Many companies make onboarding an afterthought but only slightly worse than this is the fact that some companies wait to start onboarding new hires until the first day they walk through the door. This is foolish. Once your applicant has accepted the offer, that should be the moment you start thinking of them as a new employee. This means, getting their paperwork out of the way, reaching out to them to find out seating and technology preferences and introducing them to teammates before the big day. Obviously, you can’t send proprietary information before the big day but you CAN make them feel welcome in the days before their big arrival!
Gone (at least for now) are the days when employers had the upper hand in the job market. Employers have to work harder to win over the candidates they want in this improving economy. It doesn’t have to be difficult. Small tweaks here and there can help employers acquire the talent they have been missing out on.
Click Boarding’s employee onboarding software can help you integrate the onboarding and hiring process to effectively improve the applicant-to-hire ratio.
