Dynamic Happenings

Attention Hiring Mangers and Business Owners!

The tables are turning and the candidates you are actively pursuing have a lot more options!

Do you have a system in place to attract top talent, or are you allowing your competition to snatch up the best candidates, leaving your jobs unfilled and your company at risk?  If your hiring managers are not at the top of their game, or if they are waiting for talent to come to them, beware: the time is now to actively look for top clients who will make your business soar to the top and leave your competition wondering what you have that they do not. The recession is over, and the economy is coming back, which means more jobs and more competition for qualified candidates. 

According to a recent 2015 survey by ExecuNet, 68% of Search Firm Recruiters expect talented candidates to be driving recruiting efforts by the end of the year.  And age seems to have no factor.  In a March 2015 article by Time Magazine, companies are realizing the value of seasoned veterans age 50 and older.  These workers are highly sought for their experience, flexibility, knowledge, and reliability.

Five years ago during the recession, statistics were reversed.  Hiring managers and recruiters sat in the driver’s seat of the talent search, having more qualified applicants to choose from than jobs available.  Now, hiring managers and recruiters are finding it difficult to get talented candidates and executives to return their phone calls, suggesting a shift toward a healthy and booming, candidate-driven economy.
Results from the survey are demonstrated in the following graphic:
Source: ExecuNet 2015 Executive Job Market Survey

What does this mean for hiring managers and client companies?

If reality is dictated based upon these results, clients will be vying for talented candidates, many of whom have multiple offers to consider.  Holding the upper hand in the recruitment courtship, candidates are less likely to negotiate offers. In contrast, hiring managers and client companies are almost twice as likely to negotiate offers as they were five years ago; if they do not negotiate, clients will risk losing talented employees to their competitors.

How you can secure the top talent

USA Today reports a strong gain in employment and predicts wage growth to accelerate. Now more than ever, clients need to step up their game to secure top candidates.  Here are a few ways to do this:

• • Do not play games when you come across a talented candidate you want as your employee.  Put your best offer on the table from the beginning.  Offer a competitive salary and benefits package.  If you can create a package that is so irresistible your candidate cannot turn it down and your competition cannot match it, all the better – not everyone can do this. • Streamline your hiring process to make it more efficient and make offers quickly.  Time is of the essence and there is no time for haggling when you come across someone you want to make your employee.  Candidates are being offered positions within two weeks of the first interview.  If you work with your HR team and there is a process, make sure that it is aligned and there are not too many hands in the pot to get the offer out.  You cannot afford to stall. There must be a sense of urgency and time is of the essence. • Scrutinize your company and its branding and make adjustments.  Create a company and image that highlights what makes your company so great to work for and fix reasons that make it not such a great place to work.  Then make sure your hiring managers talk about why they love where they work and what excites them about the industry.  Remind them that it is not just a candidate’s job to do all of the selling – they must also showcase the company!  Candidates want to work for a company whose values and culture are the same as theirs, so sell them on why they need to come work for you.  Make your company’s benefits so great they cannot wait to come to work for you. 

We are already halfway through 2015.  With recent findings, it appears that 2015 is the year of the candidate.  So step up your game so you are one of the companies who secure the best talent and you aren’t left with the leftovers.

Companies - what are some of your best and most successful techniques used in your hiring process to secure top talent??  Dynamic would love to hear from you!  Please email us with a highlight of what makes your hiring process standout to future employees.