In today’s global market, businesses across all industries have to work hard to attract and retain employees. However, due to the Great Resignation, in March 2022, job openings reached 11.5 million. This proves that businesses are having a difficult time standing out from the competition. If you believe that the labor shortage is affecting your business, here are five strategies that you can use to recruit and hire people who are qualified.
Train Your Managers How to Interview Properly
In many cases, managers don’t make the best interviewers. They do better focusing on areas such as analyzing and delegating. Therefore, they often struggle to ask good questions and end up in one-sided conversations about the organization. Therefore, it’s a good idea to take the time to train your manager on proper interview techniques.
There are some basic good interview techniques, but you may need some slightly different ones, based on the nature of your industry. It’s important to keep in mind that you’re not just learning about the candidate, you are conducting a sales process to convince the interviewee that you have a great company.
Be 100% Transparent
These days, recruiters/interviewers need to get workers in the door as quickly as possible and it’s tempting to focus on how you can help them at the moment. You may want to emphasize the benefits package or try to make the role sound exciting/positive. However, when hiring, it’s important that you consider the long-term value an employee can bring because it’s cheaper to keep loyal employees than to recruit and hire over and over.
Therefore, don’t just show them the present, show them the various paths the job may take them in 5, 10, or even 15 years. Relate those potential paths to their vision and be clear about the ways you would support them as they move forward.
Make the Application Process Less Complicated
It can be stressful to apply for a job, and since the candidate likely has multiple applications out and competitors may be contacting them with offers, you need to make your process less complicated. Don’t wait until they have submitted their resume to contact them, instead call them and thank them for their application. This may take time compared to sending an email, but it adds a personal touch. Plus, it gives you the opportunity to find out if there are any other positions they may be interested in.
Make Them a Competitive Offer
Just a few years ago, this may have been enough to get a candidate’s attention- but with the economy still reeling from COVID-19, they don’t just want more, they need it. Inflation is over 8% and candidates need the money to cover rent, food, and transportation.
As you review your budget and interview candidates, keep in mind that you can do more than a better hourly rate or salary. Things like working from home or paying off student loans hold value.
Make Sure They Know They’re Not Alone
While many businesses are moving to remote work, not all businesses can do this due to the nature of their work. However, you may be able to allow some of your employees to work from home. Therefore, make it clear from the beginning: just because they will be working from home doesn’t mean they will be alone. Let them know that there will be days they will need to be face-to-face and that those are the best days to connect with others in the company, ask questions, and aget help where they need it.
Competitors are not going to take it easy when vying for the best candidates- and neither should you. In order to survive this labor shortage, you need to fight just as hard as they are. If you need more help learning to stand above the crowd, contact Rexford Commercial Capital. We can help.