A prevailing question on the minds of millions of business owners: when will this labor shortage finally subside? While recent numbers from the U.S. Bureau of Labor Statistics have shown considerable improvement—American employers have added 850,000 jobs in June 2021, well above each of the previous months—hiring managers are still fraught with the challenge of finding candidates that want to work.
Upon a closer examination of recent employment numbers, there are signs that question whether the United States is truly in a labor shortage. If our country was truly amid a significant shortage of talent, employers would simply increase their wages to attract candidates to their organization and solve this problem. But in my estimation, America is battling through something more complex than a traditional dearth of talent. Today, “pockets” of labor deficits—as opposed to a widespread shortage—are hindering businesses nationwide as candidates with niche, in-demand skill sets become increasingly difficult to find.
So how can organizations overcome these pockets of labor deficits while finding the talent they need to run their business? Here are seven valuable strategies to help your company recruit and retain talent despite current labor market conditions.
Focus on brand awareness
This idea applies to both current and prospective employees. People should be able to clearly identify your brand and understand what your company does. Your workers should be your brand champions, actively advocating for your organization on a routine basis. In addition, the provision of an exceptional candidate experience during the recruiting process will only enhance your overall image to job seekers.
Articulate your differentiators
Be able to provide detailed information about what your company is doing to separate itself from the rest of the pack. How are you coming up with ideas to beat your competition? What are you doing to break down barriers and achieve your goals? Educating potential employees on how your company is remaining innovative is critical to recruitment success.
Highlight inventive platforms or technology
Candidates will want to learn more about the systems and technology that are powering your company. From trendy software to programming languages and more, be sure to provide plenty of detail around the platforms that are utilized by your organization in your everyday operations. If your business is running on archaic or outdated systems, make the necessary upgrades to update them. This will further help pique candidates’ attention during the recruiting process.
Provide employees a voice
Want workers to stay with your company? Give them a platform to speak their mind about pressing workplace issues. Allow them to communicate with executive leadership on the things that they want to add or change within your organization. Conduct biweekly or monthly pulse surveys to solicit valuable feedback while keeping your workers engaged and motivated in their roles.
Prioritize work-life balance
In today’s employment market, candidates are looking for a company that “walks the walk” when it comes to work-life balance. No one wants to dedicate their entire life to their professional career, so be able to provide examples of how your company helps to promote your workers’ physical and mental well-being. Give examples of how you support your employees in both good times and bad. Having a remote or hybrid work plan will certainly help encourage a better work-life balance.
Offer attractive benefits and salary
An obvious choice when looking to enhance employee attraction and retention success, companies need to pair market-rate salaries with a comprehensive benefits package. One of the most important factors in this equation? A 401(k) match. Without contributing to your workers’ retirement accounts, your organization may have a tough time in your talent acquisition efforts. Whether you implement a partial or a dollar-for-dollar match, be sure that this perk is part of your benefits package.
Facilitate a speedy hiring process
Companies need to act quickly in the current candidate-driven market to avoid losing out on quality talent. Rather than spending weeks on scheduling interviews or debriefing with internal stakeholders, accelerating the overall hiring process is critical to talent acquisition success. After a candidate applies to one of your open jobs, get in touch with them to perform initial screenings and interviews. Make sure that your job seekers’ attention is fully captured throughout the recruiting timeline to lessen the odds of other offers being considered.
Throughout the pandemic, our team at Acara Solutions has been creating customized recruiting and talent acquisition plans to help our clients overcome prevailing talent troubles. I hope that by utilizing these seven strategies, you can become more effective at attracting and retaining quality candidates to bring value to your business.
Interested in composing a tailored talent acquisition strategy to enhance your recruiting success? Contact me to learn how Acara can help!