Recruiting in an Employer-Driven Market
Recruiters usually refer to either a candidate-driven market or an employer-driven market when it comes to job markets. In a previous article, our highly experienced recruitment team at GCS Malta has already outlined four strategies to tackle hiring within a candidate-driven market. The following article will focus on recruiting within the employer-driven market.
What is an employer-driven market?
In 2021, the world of recruitment went from recruiting within an employer-driven market to a candidate-driven one. The change in the market has brought its own challenges, which is why it is essential for any company to be aware of how to recruit in an employer-driven market as well.
In contrast to a candidate-driven market, an employer-driven market is when there are more qualified candidates than job openings. This allows employers to have the advantage since they have more room to negotiate salaries and benefits. While an advantage to companies, this type of market is typically brought about by:
- A shrinking economy
- Rise in unemployment
- Increase in people looking for work
Here are some tips to follow when recruiting within an employer-driven market.
Write accurate job postings
By writing specific job postings, you can help cut down the number of unqualified applicants. In turn, this will help to shortlist the top candidates more quickly.
Streamline your application process
Aim to have a straightforward, user-friendly application process. On the other hand, having a time-consuming application process can deter candidates from finishing their application, reducing your pool of candidates to pick from.
Implement technology in your hiring process
You will most likely be bombarded with CVs and potential candidates in an employer-driven market. There are several ways to implement technology to help reduce the pressure on a recruiter in this type of market:
- Digital assessments
- Automated messaging system
- Use pre-recorded video clips for interview
Hire a recruitment partner/contractor
- Lowers overall costs
- Reduces stress on current employees
- Saves time on searching and screening candidates
Overall, recruitment agencies are best placed to help your company secure top talent in an employer-driven market.
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Article by Sarah Jane Gauci