How to handle hiring in a tight labour market
The market is tight, but the talent is out there. Try these strategies to locate and find the best fit for your business.
U.K. recruiters know that ease of hiring waxes and wanes. This depends on whether you have easy access to a large pool of workers, or if your vacancy is in one of the many areas facing a skills shortage. Most of us prefer the former, but even when the market is tight, there is talent out there. You’ve just got to use the right strategies to find the right fit. That’s so you can secure the candidate before your competition.
When jobs are plentiful, but candidates are scarce, you’ve got to uncover the unicorns. When you’re inundated with applications, you’ve got to be able to pick out the best fit from the crowd.
One thing’s for sure: you need to work hard to hire the right candidate in a market that is changing and uncertain.
Over the past 15 years, we have seen significant changes to the U.K. market. The crash of 2008 led to a spike in unemployment, and lower open vacancies. Gradually over the recovery that has changed with us now being in an extended period of ‘full employment’ ( unemployment under 5%)
“In a tight labour market, candidates have many options” says Stephanie Naznitsky, executive director of OfficeTeam, a division of Robert Half. “It’s important that a company sell itself well and paint the picture of what the future will look like for them if the company chooses to bring them on board.”
According to the Office of National Statistics, Job growth is slowing. The new points-based immigration system will also strangle supply. Construction, hospitality, health and other industries that rely on E.U. workers could be badly hurt.
Focus on attracting the best workers.
But really, each situation is the same challenge for employers. Whether you’re in a tight labour market or not, you need to focus on attracting the best workers. Here are some tips:
Polish your job description.
In a tight market, candidates can pick and choose among opportunities. “The more upfront and honest we can be in the description and conversations, the better chance we’ll have of landing the ideal candidate,” says human resources consultant Matthew Burr.
Get your Employer brand out there.
People who are applying for spots at your firm should understand your employer brand – your values, your culture, your ethos.
Embrace technology.
Technology can make your search for the best hires easier. For example, Search Monster allows you to send personalised email recruitment campaigns in bulk.
Go with the video.
Online is now the world of video – it’s the most efficient way to put across your message in a way that resonates with U.K. seekers. Videos have the potential to go viral on social media and elsewhere, so bring your job ads to life with a video job advertisement.
Develop existing employees.
For the most part, recruiting is about looking outward to bring in new hires. Existing employees, however, also bring a lot to the table. Your current workers can be your brand ambassadors — everywhere they go, they’re advertising and informing people about what it’s like to work for your company.
“Employees are a very trusted source of information about a company and whether it’s a good place to work,” says Linda Pophal, owner and marketing communications consultant with Strategic Communications. “It’s important that they’re saying positive things.”
Wondering how to find a “Good Fit” for your next hire?
Monster’s unique solutions reach and engage the quality talent who are right for your position.
- Book your demo for SearchMonster More than just next generation CV search engine. Find talent faster, then efficiently create and manage customised email campaigns.
- If you don’t have much time or are short of resources, get expert help: Watch the 3 reasons you should be using Monster Talent Consulting.
Still not sure where to get started? – Call us today on 0800 781 4377 for a chat!