Human resources teams have never been busier. With the Great Resignation, more and more employees are packing up their desks in search of better opportunities.
Individuals are looking for work that allows them to have more flexibility, greater work-life balance, and additional benefits. Right now, the power is with job candidates as they demand more out of their chosen workplace.
If your business is struggling to find new talent, you are not alone. It’s a challenging time for recruiters, especially in the midst of an unpredictable global economy. Not to mention, COVID-19 waves and variants continue to make people hesitant to commit to new opportunities. Because of this, recruiting may look a bit different today than it did a few years ago. Below are four innovative ways to solve your recruitment dilemmas.
1. Facilitate Mentorships
New employees are often looking for long-term stability and growth. They are seeking ways to develop professional and personal skills. One way to help facilitate your employees’ development of these types of skills is through company-led mentorship programs.
Established mentoring programs match up mentors — often executives and managers — with eager mentees. A mentorship takes work, so both parties need to know what is expected of them before jumping into the program. Your company’s HR department should help establish and run the mentorship program. HR may act as a third-party resource for both mentors and mentees if outside assistance is needed.
This program can be a great selling point for new candidates, as it demonstrates your business’ commitment to your employees. Additionally, when an employee feels more connected to their co-workers, they’re more likely to stay committed to their company. Thus, a formal mentorship program may help with retention as well as recruiting.
2. Provide Referral Bonuses
Your employees often know the best people. However, they don’t always think to ask their friends if they are interested in working for their company. One easy way to solve this is to offer referral bonuses.
Providing this incentive encourages current employees to recruit candidates for open positions within their network. The bonus is granted after a hire is made within a predetermined amount of time, such as 60 or 90 days. Think of a referral bonus as payment for your future business. While it’s an upfront cost for your company, you’ll save money by hiring a candidate for the long term.
Keeping an employee is more cost-efficient than hiring a new one. If a referred applicant isn’t right for a current opening, they may be the perfect fit for a future position. Market your referral bonus to current employees during company-wide meetings and via benefit sessions.
3. Streamline Your Application Process
The easier it is to apply to a position, the more likely someone will complete the process. If your current application process requires prospects to create a log-in, get rid of it. This is a barrier to entry that can significantly reduce the number of applications you receive.
Other obstacles include requiring references upon submission or even requesting a cover letter. Broadening your candidate pool may be as simple as asking for less in your application.
Another way to streamline the process is to optimize your company’s job listings. Your HR team should post and promote openings on several platforms such as LinkedIn, Indeed, or Monster. Doing so will further broaden your applicant pool and allow your HR team to conduct interviews more efficiently.
That’s because these sites allow recruiters to quickly search and filter candidates and select whom they would like to move forward with. Making adjustments to your application process and where current openings are posted can drastically help your recruiting efforts.
4. Give Candidates What They Want
As your recruiting team talks with prospective hires, they’ll start hearing some of the same questions regarding candidate preferences. A great way to meet candidates where they are in their search is to give them what they want.
Lately, more applicants have been looking for companies that will work with their changing needs. This might mean the flexibility to work from home a few days a week or being completely remote. Or it could entail providing employees with money to spend on work equipment for their home office.
Offering the types of benefits candidates are looking for may require reevaluating your offerings every six or 12 months. This is because your company is competing with other companies’ benefit packages. Make sure your HR team monitors other similar companies and the benefits they are promoting to potential new hires. For example, Airbnb recently announced a huge shift in their live and work anywhere policy, which spread quickly online. We may soon see other tech companies make similar policy changes, as candidates desire this type of flexibility.
Getting the Best Fit
Finding the best new hires for your company takes time and effort. And with candidates occupying the driver’s seat, your HR team may be searching for a bit. Don’t get discouraged. Waiting for someone who can do the job well and add to the company’s culture is worth it. Both you and your future employees will know when they have found the position that is the best fit.