It is a simple law of supply and demand: When there are more candidates, you have a better pool of qualified applicants. In a low unemployment market, you have fewer job seekers and they may not have the skills you need. When there is a low supply of unemployed workers, how do you find high-qualified candidates?
Beggars Can Be Choosers
In a low unemployment market, companies do have options if they are willing to look harder for good candidates. It isn’t enough to post an ad in the paper or online and wait for the phone to ring. Instead, companies have to be proactive in their candidate search. You need to communicate with candidates online, recruit people who may not be actively seeking employment, or work with temporary agencies.
Social Media
Companies communicate with customers and prospects on social media sites. The goal of these campaigns is to establish a rapport with people in the market, create transparency, and show consumers the human side of your business. Social media sites are also a great way to search for and create a rapport with potential employees.
Searching for profiles of qualified candidates online will help you create a short list of job seekers who have the skills and personality traits that are a good match for your organization. A social media profile has information that tells recruiters what type of person they are and what kind of employee they would make. You can communicate with candidates who you feel fit the culture of the company and notify them of potential openings in a relevant field.
When using social media for recruiting, you will want to add LinkedIn to your list of sites for candidate search. LinkedIn is a professional site where many members are actively seeking employment or are willing to leave their present organization for a better position. Members include their resumes, volunteer information and references for review by potential employers. In addition, other members verify skills listed on a job seekers page so you will know if the candidates possess the skills they list on their resume.
Headhunting versus Recruiting
When searching for candidates in a low unemployment market, you may want to think more like a headhunter and less like a recruiter. A headhunter is someone who is more aggressive in their candidate search since they work on a commission basis. They are more willing to do what it takes to fill a job order, including poaching a qualified candidate from a competitor, while a recruiter’s role is less aggressive and looks for those actively seeking employment.
When thinking like a headhunter, you try to find ways to entice someone who has a secure position to take a similar position at a different organization. This means you need to have something the candidate wants that they may not currently have. Incentives can include a better salary, bonus structure or improved options for advancement. Creating incentives requires companies to have a thorough understanding of their competitors as well as knowledge of the employees they are trying to poach. You may have to create different incentive packages for different candidates or be willing to negotiate terms.
Recruiting Agencies
People who are looking for a position, want to switch companies or start a new career, will often sign up with a recruiting agency. They may be employed, or underemployed, but are open to new job opportunities. A recruiter at a sourcing agency works as a liaison between people seeking employment and companies seeking to fill open positions. They can align qualified candidates with job qualifications, screen the candidates for the potential employer and determine if the job seeker fits with the organization’s culture. This way, a company can obtain a list of qualified candidates no matter what the current unemployment market may be.
If you are seeking qualified candidates in the current low unemployment market, you should contact us. We can help screen the list of job seekers and work with you to find the one person who will fit the company culture and the open position. You can work with the candidate on a temporary-to-hire basis to determine if they are a good match or hire seasonal employment for a temporary need.