In today’s market, talent is not a boundless resource. In fact, the talent market is arguably tighter than ever, and it is up to employers to come up with new ways to attract, recruit, and retain talented individuals for a given position.
If you’re seeking a job in a field with a tight talent market, we have good news for you: you’re a hot commodity, and lucky for you, to a certain extent you may potentially have the upper hand when it comes to negotiating certain terms of your employment.
If you’re on the other side of this equation, seeking talented individuals to hire for your business, we also have good news for you: finding the right person for the job is not impossible, and neither is hiring them. Even if the talent market is tight, you can still attract the right person for the job, and here’s how.
Put yourself in the potential employee’s shoes.
Give some thought to what you might consider when deciding whether or not to work somewhere. Would you want the opportunity to make an impact and/or make key decisions? Advance in your career? Mentorship? Satisfaction? Fulfillment? Different factors influence different career choices. A paycheck is nice, but that goes straight to the bank. Speaking of compensation, take a minute to evaluate your company’s competitive edge and the perks it offers prospective employees. Relative to other businesses in your field, are you competitive?
Invest the time to determine what prospective employees in your field value, and do what you can to accommodate these to a reasonable extent. You may not be able to offer unlimited vacation, pet insurance, or a Starbucks-level onsite gym, but maybe you have other work-life perks and benefits–from flextime to birthday cakes–that make you competitive and reflect your company’s culture. You shouldn’t break the bank on your quest to secure talent, but if you’re struggling to attract or retain talented individuals, you can get creative by offering low-cost perks that focus on “best place” to work practices. You may be surprised how important that is to potential candidates.
While your objective is to obtain top talent, the objective of those individuals who are talented is to maximize the advantages they can obtain. A strong benefits package can help both parties achieve their goals. Similarly, a benefits package that is not up to par can lead top-talent to deviate from a particular company. When it comes down to attracting top-talent in a tight market, your company’s benefits package can really make it or break it.
Across many industries, the fight for new recruits is intense. For some businesses, maybe changing your benefits package just isn’t within the realm of possibility. There are still innovative ways in which you can connect with talented potential employees. For instance, if you’re seeking out Millennials, it’s important to keep in mind that they often value purpose over a paycheck, and it may be time to reevaluate your company’s branding and image.
Does the position offer a sense of purpose? Is it fun and enjoyable, or might the work seem monotonous and unimportant? Does the hiring manager have a succession plan in place? These are all questions to consider when trying to make a particular position or even business seem attractive.
You might also consider altering your hiring paradigm. If you are struggling to attract the talent you desire, then the current system you have in place is probably not as effective as one might hope. What platform are you using? Is it a smart way to connect with talented individuals? If your method still airs on a more old-fashioned or traditional practice, it might be time to revamp your hiring process and modernize the platforms you use. LinkedIn is a good place to start if you feel it can help you connect with talented people who fit your company’s culture.
Finally, don’t be afraid to woo your objective. Offer praise where it’s due, and court the prospective employee. Most of us know that it’s natural for people to want to feel appreciated in their personal relationships. The same is true of professional ones. It’s important for employees and recruits to know that their talent is valued, so don’t hesitate to show your appreciation!
Ultimately, the solution comes down to one important characteristic: empathy. At some point in time, most everyone becomes a job seeker. The best way to attract talent is to put yourself in the recruits’ shoes and decide what would attract you to work at a particular business. It may be benefits, it could be purpose, or it might be praise. No matter what the answer is, the only way to arrive at it is through empathy.
By Gloria Oliveras-Bravo
Sr. Executive Search Manager at Barbachano International (BIP), the Human Capital Solutions leader in Mexico, Latin America, and the USA, offering high-impact executive search, executive coaching, and outplacement. Gloria leads the Commercial/Sales & Marketing search division in North & South America and the Human Resources division for USA-based assignments.
Get in touch with us today at (619) 427-2310 or email us at firstname.lastname@example.org. Experience the BIP difference.