With blue skies and warm weather, people aren’t as focused on work as they might be in March or October.
It then comes as little surprise that the summer is when momentum comes to a screeching halt for recruiters.
There might be the urge to “go with the flow,” so to speak. Some companies might tell themselves, “let’s not swim against the tide,” and not bother with trying to fill vacancies for the next few months.
While the above decision is understandable, it’s also inadvisable.
First, you must ask if you can afford to leave vacancies open, considering there is already a candidate shortage.
You then must consider the opportunity you’re ignoring. Think about it–other businesses are dialing back on hiring, giving you the chance to fine-tune your approach and attract the talent that’s out there during this lull.
Addressing the Shift in the Job Market
In the most nuts-and-bolts, economic sense, employers find themselves with a supply shortage when demand is high for employment.
As a result, much of the power has shifted toward the employee–especially the talented ones. Speaking to this idea is how 50% of surveyed North American employees intend to look for a new job in 2021.
Be mindful that many people held onto their roles during the pandemic, and they saved money since they weren’t going out and spending.
The economy is also improving, and people feel more confident about job security, meaning they aren’t desperate to find work.
There are other factors at play (which will be addressed below), but this paints a clear picture of where you must position your hiring strategy. Namely, your approach to recruitment needs to respect the fact that candidates currently have the power.
Top, viable candidates are no longer “just happy to be there” and overly eager to impress. Instead, you need to sell your organization and its values to them.
Other Factors Impeding the Candidate market
An article from NBC News discusses the following factors making it challenging for employers to attract candidates despite the job market opening up:
- Some workers prefer collecting unemployment
- There are ongoing concerns with the pandemic:
○ These include childcare, remote learning, obligations to family, and holding out for more lucrative opportunities.
- While the job market has heated up, many candidates aren’t aware that it has:
○ These candidates are also discouraged from earlier in the year when the landscape wasn’t as promising.
Leveraging the Job Market Gaps as an Employer
First, it’s worth pointing out that strategies exist to deal with pandemic-related concerns, such as offering more flexible employment (e.g., remote work).
You can also provide more competitive wages to lure people back to work who prefer collecting unemployment.
However, the trend hiring managers and recruiters can leverage the most is candidates unaware that the market has heated up.
These are the people who want a job but don’t know they exist. It’s time to figure out how to reach these candidates, whether that’s through hiring a top-notch recruiter or bolstering your employer brand and loudly marketing your job openings.
Indeed, the summertime might be slower for hiring, but that means there’s less competition.
This type of landscape is waiting for you to capitalize and replenish your talent roster following a tough year. After all, when the summer is over, the hunt for top-performing candidates will ramp up again, and you’ll be dealing with fierce competition once more.
Why wait until the job market further saturates itself when doubling down on your efforts now is the path of least resistance? Work smarter, not harder.
The summer doesn’t last forever, leaving you with a short period to maximize your recruitment efforts and bring in the best available talent. Fortunately, you can streamline and vastly improve your chances to attract your ideal candidates by contacting ITAC today.