The American workforce has been undergoing a lot of change recently. Millions of Americans are quitting their jobs every month, and there are far more job openings than there are available workers. Additionally, employers have seen a decline in application numbers, which is one of the many things having an effect on labor shortages.
These hurdles, among others, make finding the right candidate difficult—especially for small businesses that may not have the time or money required to search for talent these days. Thankfully, there are ways you can make your business more attractive to potential applicants, and there are third-party resources you can utilize to speed up the process and cut down on costs.
Before we explore those options, however, let’s take a look at some of the reasons there seems to be a ‘labor shortage’ in today’s job market.
“Americans don’t want to work.” Fact or Fiction?
Recently, this has become a common complaint amongst employers and business owners who feel as if they can’t find/retain quality employees. According to reports from the U.S. Department of Labor, however, there has been a steady increase over the last two years in the number of Americans searching for work.
So why are less people applying?
The answer is simple. Americans do want to work, they just have higher expectations for employers, and they won’t accept just any job that comes their way.
Hiring in 2022
The working world looks very different than it did a couple of years ago. Record numbers of Americans are now clocking in from home, and many more are utilizing a hybrid schedule. Even the hiring process has become more reliant on technology. To have a competitive edge in the increasingly cutthroat talent war, businesses must possess a strong, effective online presence, and their hiring process must be seamless.
But before you can address the problem areas in your hiring process, you first must identify what the issues actually are.
Why You’re Not Receiving More Applicants
With so many people searching for new job opportunities, it may seem surprising to hear that in 2021, it was estimated nearly half of all small businesses in the US had at least one unfilled job opening.
There are a myriad of reasons why some job listings might not be attracting a wide range of applicants. The listing may not be easily accessible to everyone, the position may not offer a remote-option, etc.
These are relatively easy fixes, but there are some hurdles in the modern-day job market that are a little harder to account for. Such as:
- Applicants are not seeing your job posting — According to a survey from FlexJobs, of those who stated they were searching for work, 48% of respondents said they felt like they were not finding the right jobs to apply for. Many even said they sought out both free and paid job-search services in order to find the right fit for them.
- Hiring Managers are Not Responsive: — Another reason workers reported not having success finding a job was that employers did not get back to them in time.
- According to a study from Robert Half Talent Solutions, 62% of professionals reported losing interest in a job if they did not hear back from the hiring manager within two weeks of the primary interview.
- This number rose to 77% if employers did not provide a status update within three weeks of an interview.
Is A Recruitment Firm Right For You?
You may think that having less applicants makes the decision process easier, but that’s not necessarily the case. With fewer people applying for open positions, hiring managers cannot dismiss candidates for minor reasons. They have to use more scrutiny when reviewing each application, while also trying to respond to candidates before they lose interest.
This takes time and resources. Both of which, your company may not have a lot of. There are many ways businesses can improve and hasten the recruitment process—they can invest in better hiring software, or bring on another HR rep to help sift through applications.
But for many small businesses, these costly fixes simply aren’t feasible. That’s where third-party recruitment firms come in.
What Recruitment Firms Can Offer
Recruitment firms offer faster, more affordable solutions to your hiring problems. We can take care of everything from curating the perfect job posting, to expertly conducting interviews. IsoTalent will even extend the initial offer, and can save your company anywhere from 40-70% with our hourly-rate recruiting options.
IsoTalent has access to a larger pool of candidates, and our hiring process is proven and timely. On average, IsoTalent places new hires for both executive and technologist roles in under two months.
For businesses who aren’t looking to hand over the reins entirely, we also offer access to our Intuitive Recruiting Software, that will help ensure you’re searching for candidates in all the right places.
How To Attract Talent
Regardless of whether or not you decide to utilize the skills and expertise of a recruitment firm, there are a few simple ways you can attract a larger number, and higher quality, of applicants.
- Curate a better online presence — The vast majority of American workers will be searching for new jobs via the internet. In order to stand out, company’s need to invest in online marketing, ensure that their websites are up to date, and advertise openings with clear and engaging job postings.
- Conduct Better Interviews — Hiring managers should focus on making the interviewees feel comfortable, they should have their questions ready beforehand so there is no hemming and hawing. Most importantly, interviewers should find themselves talking no more than 20% of the time during this process.
- Make the Hiring Process Quick and Painless — One of the most common ways employers lose talented applicants is by dragging out and over-complicating the hiring process. Hiring managers should take any opportunity they get to streamline this process. Whether that means updating their software or letting trained recruitment professionals do all the work, being straightforward and timely should be a top priority for companies looking to fill open positions.
- Know what Applicants Are Looking For — One of the most effective ways for a company to attract more applicants is to make the job itself more attractive. Americans looking for new work are spoiled for choice in today’s job market, so in order to bring in talented, hard-working people, you need to know what applicants want.
- Here are the three things that job-seekers are looking for when applying for positions: higher pay, better benefits, and a work-from-home option/flexible schedule.
Make Good On Your Promises
The last thing hiring managers and business owners should consider before they venture out into the talent war is that they must make good on what they say during the hiring process. Workers are less afraid of quitting than ever before, meaning they will only stick around if they actually enjoy the work they are doing and/or feel valued as an employee.
Retention is ultimately the best way to navigate tough economic times and labor shortages, so make sure the tactics you use to attract candidates are honest and the promises are attainable.