The need for speed – don’t miss out on the best talent by taking too long to recruit

almost 3 years ago by Kerri Richards

Woman shaking hands

Competition is strong in the workforce and now, more than ever, there is a need for speed to secure the most suitable candidate whilst recruiting. When it comes down to recruitment, we understand that the recruiting process can be lengthy, but you don’t want to miss out on the best talent by taking too long to recruit.

From February 2020 to February 2021, job vacancies went up by 27 per cent – which has been the highest number of job vacancies since November of 2008! In Seek’s history, this year has seen the greatest number of jobs posted to the website, however, there has been around a 20 per cent decrease of job applications across the job board.

What does this mean for employers? The balance of supply and demand is weighted towards the candidates.

Amidst a global pandemic and ongoing uncertainty in the workforce, people want job security now more than ever. For businesses looking to recruit, it is a crowded market, therefore a new approach is needed to ensure you don’t miss out on the best talent. 

Stand out in the recruitment process

So, in a competitive market, how do you stand out from the crowd?

Create job advertisements that contain videos, testimonials and highlight other employees as advocates. And of course, be bold in your job description as to why people will want to work for the business!

Use a fresh recruiting approach

Something that is often overlooked is the point of contact for the role should be briefed with the exact information needed so that the candidates can be engaged from the beginning. This includes the non-negotiable criteria, as well as the criteria that is more important to the recruiter that they can be more flexible on.  

Your contact person may be the only direct contact candidates have with your company, so it’s vital to ensure you allow them to be presenting your company in the best light.

Additionally, stay away from closing dates on the application, and view applications early to ensure the recruiting process remains a top priority.

Beware the rise of the counteroffer

Due to the hot market that we are currently experiencing, we are seeing more counteroffers in the recruiting process – we are used to seeing 1 in 20 counter offers, we are now seeing 1 in 5.

Be careful in making a counteroffer and take caution to not set yourself up for potential disappointment down the track. 

The market is hot for candidates right now. We’ve provided some tips here for how you can set yourself apart from your competitors, but if you want to take it up a level, we would love to chat.

At Peoplefusion, we want to get to know you and take your next hire from credible, to incredible.

Contact our team to find out how we can position your business exactly where it needs to be and make your investment in us and in your new employee worth it.