The economic downturn that we faced for several years created an interesting problem for employers. For years they were in the driver’s seat when it came to employment negotiations. A market that was saturated with unemployed professionals allows for businesses to pay less for specific skills. However, as the tide has begun to turn the so-called “skills gap” is proving to be a new problem for employers. Many are finding fewer qualified candidates for their jobs and are once again competing for top talent. Moving fast is important in today’s market. Here are some ways you can make the right decision quickly.
- Act fast. While you don’t want to make irrational decisions on the spot you also don’t want to take too long to make a final decision. Respect for the candidate’s time is as important as their respect for yours. Be responsive and set up interviews in a timely fashion and follow up with candidates regularly. If you hear that the candidate has another offer on the table, talk to them about your options and ask when they need to make a decision. If you don’t feel as though this employee would be a good choice for your company provide any constructive feedback and allow them to continue their search.
- Show value. Employers are not one size fits all and some candidates will have a better personality match with your office environment than others. It is your job to demonstrate the reasons that candidates want to work for you. Take candidates on office tours during their interview and show them the company culture. Tell them about benefits including office amenities. You need to offer incentives that your competition does not.
- Pay for experience. The economic crisis that caused companies to downsize their workforce also enabled them to offer smaller salaries once hiring began to pick up. However, many experts blame this salary inequality for the so-called “skills gap.” There is not a lack of qualified candidates but rather a disproportionate pay scale for professional skills. Candidates are likely to accept a job with slightly higher pay even if the other company is not a good fit for them long term. Research what their skills are worth and make a solid offer. Remember, benefits, personal time off, and flexible schedules can also be added to the bargain.
Do you need more tips for hiring top talent? If you are looking for staffing agencies in Arlington TX, contact us today.