by: Zach Kaiser & Adam Terrell, Strategic Risk Advisors
We hear it day in and day out, “If I could just find good people.” or “There is no one out there these days that wants to work.” Unfortunately these statements are true. According to the Bureau of Labor Statistics (BLS), Wisconsin, Illinois and Indiana have an average unemployment rate of 4.5 percent. A recent Forbes article stated the frictional unemployment rate, or people in the process of moving from one job to another, is around 3-4 percent. That means that in our area there is virtually no one “looking” for a job. They are all employed or have a position pending.
Most people are not sitting at home waiting for you to post a job and then running to your front door to put in an application. Those that are looking do so passively, and are not spending their time applying for fifty jobs. They are certainly not going business to business in their free time collecting applications. They have a job. They are looking for a better job. According to Jobvite, 51 percent of currently employed people are open to new opportunities. For the employer this means that you need to go get them. This doesn’t mean hanging a HIRING sign in the window.
To get started, you need to understand your culture and who the ideal candidate is for your culture. You can then build your strategy and messaging to reach these candidates. The following resources and techniques can be used individually or in combination to reach potential new hires.
1. Referral Program – Referrals from current employees allows you to turn your entire workforce into recruiters and is one of the best ways to hire strong talent, onboard faster, minimize turnover and save money.
2. Social Media Outlets – Can help people understand what it’s like to work at your organization and build a pipeline of talented people who are excited to come work for your organization…before you’ve even posted a job opening.
3. Niche Job Boards – Allow you to target industry specific candidates with specialized skills and relevant experience. This can lead to lower cost-to-hire and quality-of-hire metrics.
4. Recruiters – Provide high-quality candidates and know the necessary skill sets, salary rates and career expectations for specific industries.
Once you have your pool of strong candidates, you need to sell your company as a great place to work through every step of the interview process. Tell them why your company is uniquely awesome because it isn’t only about the position and compensation. They want to hear why they should leave their comfort zone for the uncertainty of a new role with a new company with people they don’t know or trust (yet). A transition to them means confrontation, inconvenience and change. All things most people hate so put on your selling shoes.
To wrap up, the labor market has changed and if you want to be competitive, you need to position yourself correctly. The worst thing you can always do is nothing. A successful recruiting program is not an accident.