by Jason Banks, CSP, EVP, Lloyd Staffing
The recruiting marketplace continues to get more and more competitive for talent!
We see organizations of all stages and sizes developing and implementing traditional and alternative recruitment strategies – everything from hefty bonuses, posting their job openings in new places (like TikTok), attempting to hire experienced internal recruiters, offering flex and hybrid work schedules/locations, and even trying new AI and technology solutions to find and tempt talent to take a look at their jobs and apply.
While these tactics will help and must be part any recruiting plan in today’s world, the headwinds are still blowing back in the face of hiring companies and giving an edge to candidates who now have more offers, more options, and better leverage than in many recent years.
The good news is that workforce confidence levels are UP!
December, confidence among those actively hunting for work reached a pandemic peak, according to LinkedIn’s latest Worker Confidence Index. On a confidence scale ranging from (-)100 to (+)100, job seekers surveyed last month averaged (+)29.
As I speak with leadership and talent executives and recruiters across a broad range of industries it is interesting to hear of the stress levels, lack of time, and creative ideas they are experiencing and practicing in their hiring pursuits.
Passive candidates make up 70% of the global workforce.
Some have forgotten the Passive Candidate. Have you?
This is an often-elusive individual who is not actively seeking new employment, yet still might consider it. Though not actively pursuing a new job, they hear about the market, they listen to friends, the need for qualified talent in the news media or podcasts BUT they still are not applying to your job or any
Maybe it’s because there are too many job openings and the work to find something ideal is just too hard. For employers it can be difficult to engage or motivate a passive candidate to your brand and they fear the mission itself will take too much time.
But passive talent is the talent where there is less competition. They receive fewer LinkedIn inMails (maybe😀) and according to many research studies, surveys show that passive candidates are 17% less likely to require skills development. For organizations like mine, the passive candidate is the sweet spot. It’s where we earn the trust our client partners invest with us.
Each week Lloyd publishes our Sunday Reader which is a showcase of curated content for leaders who care about Talent. It runs on an AI-driven smart newsletter platform so that readers receive personalized content based on the reading preferences. In fact, it was last week’s Sunday Reader which got me thinking about the Passive Candidate based on a blog in my issue that was posted by Undercover Recruiter. The piece did a very good job outlining 5 tips for passive recruiting.
It’s worth checking into and applying it for your recruitment challenges, I’m happy to connect and share a further discussion.
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ABOUT THE AUTHOR
Jason Banks, CSP, is the Executive Vice President of LLoyd Staffing. He leads the direct hire, executive search and contract talent communities of LLoyd. As one of the principals of the company, he continues to handle critical high level searches in verticals such as IT, Healthcare, Finance and more. He welcomes discussing how you can pivot your hiring processes to leverage exceptional talent and maintain a consistent, high performing workforce with a powerful employment brand.