As of December 2017, the Bureau of Labor Statistics reported that the unemployment rate had dropped to 4.1 percent, a 16-year low. For the most part, this low unemployment rate is touted as good news. However, for organizations looking to fill positions and hire new talent, it can lead to a new set of challenges. Namely: What hiring tactics should you employ in order to stay competitive and find qualified people in this tight job market?
To keep you from landing in a situation where you’re struggling to find workers, here are five tactics to find great hires in the current job market.
- Act quickly. Organizations have roles to fill! And in this market, job hunters will fill out multiple applications and will probably hear back from employers faster than normal. That means you too will have to up your game and respond in a timely fashion.
- There is no such thing as a “perfect” candidate. This bit of advice is especially pertinent for small business owners who have poured their time and energy into growing their business. Because of the personal nature of running a small business, it’s easy to wait, and wait and wait, for someone who checks all the boxes and is perfect in every way. Remember, you can always train someone.
- Don’t cut corners. Once you’ve found the ideal candidate, you might start to feel anxiety over whether they have other opportunities in the works. This kind of pressure can make you want to speed things up, extend a job offer, and get them set up. But hold on. There’s a big difference between working in a timely manner and being reckless. Be sure to perform all necessary background checks and verify references.
- There’s more to life than credentials. There’s a lot of talk these days about the value of credentials. Oftentimes employers think that the more credentials a person has, the better the candidate. While some credentials are needed or required by law, others merely pad a resume. Don’t exclude great candidates just because they don’t have a master’s degree. Instead, be open-minded.
- Be creative in how and where you post. Take the time to write an intriguing job description and post it everywhere you would expect a job posting to go (Monster, LinkedIn, etc.). Then branch out and connect with peers and others. Just like candidates network to find a job, you might have to network to find the right candidate.
In this tight job market, it’s important to have a partner you trust to make sure you hire the right people. Contact Trusted Employees to learn more about how we can help.