With unemployment likely to dip below 4% on Long Island, the amount of qualified candidates for today’s job opportunities has drastically reduced. A few years back, employers were in the driver’s seat because of the amount of people who were looking for new roles and the lack of open opportunities for those same candidates. This allowed companies to have access to higher qualified talent at bargain rates. In today’s drastically changed landscape, the candidate is holding all of the cards. There are many job opportunities available, with a much smaller talent pool. Now, an employer is getting a mid-range candidate for an above-average rate. Not exactly a practice that your CFO is going to encourage or want for achieving sustainable company growth.
So, how does a company level the playing field or even turn it back in their favor? There are many varying opinions on how to fix this, but at the end of the day the answer is really not that complicated. You can try to explore methods such as increasing your social media/SEO exposure…posting on more job boards… attending more job fairs or hiring more recruiters to your team, but that still limits you to the candidates that are tapped into your specific network.
What if you were to expand your recruiting network? If more exposure is the key then the obvious solution is to expand into other untapped networks. When you work with a staffing partner such as LLoyd, your current opening is exposed to not only your immediate talent pipeline, but also to the thousands of followers of your staffing partner. Your network swells in size and your staffing partner also has the ability to recruit from your industry competitors who may have the exact candidate you seek. Wouldn’t getting a job filled be much easier if you had the right candidate and only needed to negotiate the necessary compensation package to solidify the hire? Would it also make your job easier if there was no financial commitment needed by your company to find this perfect candidate and the only time that funds are committed is upon the successful hiring of the candidate?
I’m always perplexed to hear “it’s too costly to go to external recruiters.” It’s seems to me it’s more costly to settle for mediocre talent, or just the best of what responds to your post. A staffing partnership allows a company to make a cost-effective hire while channeling your recruitment teams’ efforts into filling positions that take less struggle and time.
Choose a staffing partner who will be working with you to build your candidate pipeline when and where you need it so that each new opening isn’t a challenge to find someone qualified. Let your staffing partner be considering every person in its network as someone who may potentially fill a need in your organization now or in the future. Your only cost to this partnership is a successful hire, and that’s far less expensive than a bad one.
This blog was inspired by an article on CUNA.org.