The game has changed.
Last month the US posted 10 million job openings – the highest number EVER on record.
Competition for talent has been fierce for the last year and it’s showing no signs of slowing down.
The strategies we used for success in 2020 and even 2019 no longer apply.
If talent acquisition leaders want to succeed in this market, they need to leverage new tools and approaches.
Here are three ways that recruiters can land quality talent while reducing their time-to-fill.
Leverage Recruitment Marketing
With so many job openings, candidates have more choice than ever before. If you want to attract candidates to your positions and get applicants, you have to give them a reason to be intrigued. That’s recruitment marketing 101.
A competitive salary and benefits package is no longer enough. From your careers page to your job descriptions, you have to make a clear case for why YOUR company is worth their time.
Describe what makes your culture so unique, why people love working at your company, etc. Think about your organization’s purpose and how you make a difference in the lives of others. Alternatively, you could talk about how your company is innovating and changing your industry.
The bottom line is you have to differentiate yourself from other employers.
Get Creative With Pipelining
Oftentimes, the main barrier to finding talent is rigid expectations for candidates.
A few years ago, it wasn’t so difficult to find people with X years of experience in our industry. Now, it might be very tough to find someone with similar experience.
As a result, we have to think outside the box to find candidates who might excel in our roles.
Many companies are upskilling current employees to meet their talent needs. Alternatively, you might look into hiring from other industries for similar skill sets.
As an example, banks can hire salespeople from other industries to work as loan officers. While it’ll require a bit of training, it’s easy enough to train someone on finance who already knows how to close.
With a little creativity, you can expand your talent pool and increase your odds of making a quality hire faster.
Consider Project Outsourcing
Traditional RPO agreements last more than two years and carry a hefty expense. But many businesses are now leveraging project outsourcing to handle hiring spikes in a flexible, cost-efficient manner.
With project outsourcing, companies are able to get additional support for as short as 30 days, allowing them to quickly adapt to changing talent goals.
Project outsourcing allows recruiting leaders to augment their internal team while still staying on top of high-volume recruiting and tackling big projects like expanding to new markets.
There’s no doubt it’s a very challenging time to be a talent acquisition leader. However, there’s also tremendous opportunity here.
The organizations keeping pace with their hiring needs are absolutely thriving. They’re gaining a tremendous advantage over competitors with more open seats…and talent acquisition leaders are playing a key role in making that happen.
It’s time to turn adversity into opportunity!