Top Recruiting Strategies in a Tight Labor Market

Recruiting Strategies in Tight Labor Market

Acquiring and retaining talent after the pandemic has become more challenging. While companies are growing and creating more job opportunities, they are finding it difficult to source the skills that will support their growth. Moreover, the quit-rate report also appears to be rising across the world. Thus, creating a solid recruitment strategy in a tight labor market has been challenging for many hiring managers.

It might be more difficult to work in a tight labor market, particularly when you don’t have the budget to increase the wages like other employers are doing. However, there are various ways to make this work. In this guide, we are going to discuss the top recruitment strategies in a tight labor market. So, let’s proceed.

1. Make the Career Section of the Website Stand Out

The company website speaks about your business. When you reach out to a potential candidate with a job offer, they are sure to visit your website. So, it should tell them the benefits of working with the company.

The career section of the website should display your best side- the environment and the office culture that’s important for any candidate. By talking about the company’s culture, you can attract employees who share the same values and mission as your company.

You can create a video that will show your potential employees your company culture and why they are going to like working with you. Use the video to give a tour of your office. Don’t forget to tell your employees how you support a work-life balance.

Include a list of openings in the career section but don’t forget to mention that you are always looking for skilled and talented candidates if or not there is an open position. This ensures that candidates feel motivated to submit their resumes even if there is no matching job at the moment.

In case you hire recent graduates or interns for the company, maintain a separate section for that. This is one of the best graduate recruitment strategies you can use and hire freshers who are looking to get trained and tap into the available opportunities.

2. Use Employee Referral Programs

Many organizations now use a referral program. Through this program, employees get rewarded with a cash bonus as they tap into their online and personal networks to provide promising candidates for their companies.

Your current employees know your company and the industry. They know what has to be done to succeed in a specific role. Hence, a referral program is a valuable resource that you shouldn’t ignore. If you don’t yet have a referral program in your company, you need to invest in one and highlight its priority in the workforce.

Another program that you can include in your organization is Boomerang Hires. These are the employees who were a part of the company at one time but left for a better opportunity. You can try to entice the best of them through means, such as providing double benefits or introducing a fresh perspective to a new job role.

3. Promote an Inclusive and Supportive Work Culture

Before the pandemic, a vibrant organizational culture was attractive to job candidates. That still holds true. Promote your business as a workspace that gives its employees the opportunities to grow and build experience. Feeling supported and having a chance to be themselves in the workspace is the biggest attraction for the employees. If you already have these, make sure you shout it out not just in the job postings but also on the website. In case you have a social media profile, you should promote it there, too.

Your company’s culture will make you stand apart from your competitors. But if you are not sure you are providing a good work culture, talk to your human resource and managerial team to assess it and suggest opportunities to improve.

4. Take the Help of Applicant Software

With applicant tracking software, you will easily be able to manage the potential candidates for the respective job openings. The software is integrated within the website so you get easy access to the submissions of the applications to the job postings. It will help you hire the right candidate for the job profile. The best hiring tools make sure no one falls through the cracks.

It is valuable to build a large pool of candidates. Often, the decision to change a job is not a quick process. Thus, you should stay in touch with the candidates and nurture them for a long time. Most often than it is about reaching out to the right candidate at the right time- when they didn’t get a bonus, weren’t promoted, or feel frustrated with poor management. With applicant tracking software to automate job matching, you can stay organized.

How can JobsPikr Help Build Recruitment Strategies in a Tight Labor Market?

JobsPikr can help you get a deeper understanding of the labor market trends. We collect insights and data to help you understand the ever-changing labor market and use the right recruitment strategies in a tight labor market.

JobsPikr helps in understanding the local workforce and gives you customized labor market insights according to your business location. We analyze competitor hiring trends to give you a better insight into the labor trends.

Using our talent intelligence tool, you can make your workforce planning future-focused. We scan a wide range of data sources from all countries across the world to derive insights. Our experts can help you create long-term, as well as short-term workforce plans. You can easily identify all future skill requirements and gaps just by understanding how main skills and job roles are evolving in the market. 

In this competitive recruitment environment, you have to cater to the requirements of the candidates while moving faster than the competition. Contact us today to know more about our talent intelligence tool that gives you the required insights to draft your winning recruitment strategies in a tight labor market.

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