For years employers felt like they had the upper hand in employment negotiations. The market was saturated with qualified individuals looking for new positions after downsizing or layoff situations. However, the tables have started to turn and because of a phenomenon known as “the skills gap,” many hiring managers are actually finding fewer candidates for their open jobs. It is important to move fast in this candidate driven market so you don’t lose superstars to your competition. Here are some tips to help make the right decision.
- Act quickly. Don’t make a hasty, on the spot decision but respect your candidate’s time while you are working through the process. Be responsive when setting up interviews and respond within a day or two even if you don’t yet have a final decision. If your candidate lets you know that they received an offer from another company and need to make a decision, don’t wait to let them know you’re interested. Tell them you would like to make an offer and are putting the information together. Ask them when they need an answer. However, if you don’t feel this candidate is right for your role be courteous and let them know so they can pursue other options.
- Be desirable. Demonstrate to the candidate the reasons they want to work for you. In the interviews take time to show them the company culture, facility, and introduce them to some key players in the organization. Tell them about your benefits and workplace amenities. In order to attract and keep top candidates you need to offer incentives that your competitors do not.
- Be competitive. Right after the recovery began companies felt like they were in a position to offer smaller salaries as a cost cutting measure. This is no longer possible. However, candidates are likely to accept a position that pays just a few more dollars. It is up to you to conduct research to understand what their skills are worth and offer a good salary that will encourage them to choose your company. Keep in mind that benefits, vacation days, and flexible schedules are also bargaining tools.
Are you looking for more ways to attract and keep top talent? Contact ProSource today to learn more!