Recruiting in a Candidate-Driven Market
In today’s competitive market, recruiting top talent can be challenging. Our recruitment team at GCS Malta has highlighted 4 strategies for tackling the candidate-driven market.
What is a candidate-driven market?
Having a candidate-driven market means that the number of vacancies outweighs the number of people searching for employment. A candidate-driven market affects all recruiting employers since the market is highly competitive, making it difficult to attract top talent.
Within this recruitment market, candidates have the upper hand since:
- top talent can ignore job offers
- they can demand a better salary
- they can move easily between jobs
- they can request flexible working patterns
- they can be involved in various recruitment processes
If the recruiter does not offer what the candidate is asking for, they will find a competitor that can. Therefore, it is crucial for your company to employ strategies that tackle the highly competitive market.
Create a job post with essential requirements and an accurate title
When an employer decides to advertise a new vacancy, the first thing required is to identify the key requirements of the role. Unfortunately, most recruiters tend to stray away from the essential requirements and start listing anything that would be ideal but is not technically essential. It is vital to list only the necessary requirements for a better turnout. Better yet, offer to train candidates who do not have all the requirements—aim to hire for potential, not just experience.
When writing the job post, make sure that the title is accurate. This is the first thing that will catch your prospective applicant’s attention, use the right keywords to give candidates a real feel of the role.
Review salary and benefits package
In today’s recruiting world, employers need to review what they are offering and whether it is enough to compete with other competitors for top talent. Nowadays, companies offer a mix of competitive remuneration and an excellent benefits package.
After finishing your salary research, make sure to include the salary information in the job post as online job adverts that include the salary receive 41% more applications when compared to job adverts that do not.
Lastly, make sure that your job post is advertised to reach a bigger audience.
Communicate promptly with candidates
To recruit top talent candidates, you must make fast decisions and communicate with candidates as soon as possible. 2/3 of candidates lose interest if they don’t receive feedback within 10 days. Don’t forget that candidates are also applying for other jobs posts. Therefore, the quicker you respond, the more chance you have of hiring them since 80% of candidates accept the first good job offer they receive.
Improve your employer brand
Put yourself in the candidate’s shoes—if you were the one applying, would you be motivated to work there? In today’s recruiting world, the job itself is not enough. You can attract potential hires through your employer brand because they want to be a part of the company culture. Make sure that all your marketing strategies are up to date!
Why GCS Malta?
Finding it difficult to attract the best applicants in this candidate-driven market? At GCS Malta, our experienced recruitment team can assist you with all your company’s recruiting necessities. If you’re looking for a new job opportunity, check out all the available positions here. Contact us today for more information.
Article by Sarah Jane Gauci