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How To Entice Top Talents in a Competitive Labor Market

While the Great Resignation has been two years behind us, industries are still feeling its aftereffects. Sure, it showed signs of slowing down in the past months, but that doesn’t mean it is over yet. Last year was easily categorized by experts as a job seeker’s market — and by the looks of it, 2023 will be no different. 

To be more dramatic: there is currently no end in sight for the Great Resignation.

Job seekers are retaining the upper hand over recruiters when it comes to laying their terms. In a survey conducted among 30,000 respondents, statistics show that 78% of job seekers are confident that it would benefit them more to switch jobs instead of staying put, according to the Joblist 2023 United States Job Market Trends Report. The same survey showed that 67% of currently employed workers have plans to quit their existing roles this 2023, and 34% of them are comfortable doing so despite having no job prospects lined up.

What does this mean for employers?

Pressure on recruiters and employers

Unfortunately, this unyielding resilience in the job market remains to be a headache for employers. Picky job seekers mean a harder time for recruiters to fill in empty job roles within the company. 

But don’t let that discourage you. Instead, look at it from another perspective.

Looking at the bright side, employers can take this as an opportunity to be more thoughtful and intentional with the kind of talents they want to join their ranks. Now can be the time to reassess and revamp your recruitment funnel. Take a step back and reconsider the ideal talent you are seeking, then recreate a recruitment that reflects that search. The ball is now in your court on whether or not you want to step up to the challenge of rising among competing companies to secure top industry talents.

To kickstart this change, here are five ideas on how to entice top talents and stay ahead of the labor competition this 2023:

Top Tips for Recruiters to Entice Top Talents 

1. Strengthen your employer branding

Remember that the first thing any curious applicant will do is to look up your company website and size you up. Having a good employer brand communicates to candidates that your company is committed to providing its employees with a positive and rewarding work experience. It conveys the mission and values of your company, providing a clear picture of what the organization stands for so that you can attract candidates that align with these values. This clear imagery allows for a transparent and honest relationship to be developed with potential employees before they are even involved with the company. 

2. Offer a flexible work setup

Nowadays, when job seekers look at job listings, the lack of work flexibility is a deal-breaker for them. A new age has dawned, and remote work is the new normal now. So, it’s either you hop onto the bandwagon if you can, or the workforce majority will prefer companies that can offer them this flexibility. A flexible work setup, such as a remote asynchronous setup, allows employees to have a better work-life balance, which has been proven to be a significant factor in both attracting and retaining talent. 

3. Reach out to passive candidates

Cast a wider net and go beyond the pool of active job seekers. There is a lot of untapped potential in the pool of passive candidates, as they make up 70% of the global workforce. Meanwhile, active seekers only account for 30%, meaning that if most recruiters are focused on fishing on this side of the lake, then competition is tougher.

“Our research team at Water Filter Guru is composed of water treatment experts that I personally sought after when the company was still starting out. I knew from the get-go that I wanted to work with passionate and dedicated experts who did well in their niche, so I courted them to join WFG because my goal was to provide our readers with quality information to cater to their water treatment needs,” shared Brian Campbell, the Founder and Lead Water Geek of Water Filter Guru

This only goes to show that recruiters who are aggressive in hunting down their ideal candidates are well rewarded in due time compared to those that are satisfied with the post-and-pray hiring method.

4. Champion DEI in your recruitment

Fear of discrimination is a big deterrent for diverse applicants to send in their applications. That alone is a loss of a large talent pool where your ideal candidate might be. That’s why it’s important for job posts to convey that your company champions diversity, equity, and inclusivity. Candidates coming from diverse or underrepresented backgrounds will feel motivated to proceed with their applications because they won’t fear bias. 

“This is why we highlight in our job posting that applications are processed blindly. We want applicants to know that we have systems in place to ensure a fair and just process for each applicant. They are assured that their assessment will be based purely on their skills and qualifications that match the role, and unconscious bias won’t come into play,” shared Riva Jeane May Caburog, PR/media coordinator of Nadrich & Cohen.

5. Present opportunities for career growth

Offer avenues for professional development and advancement opportunities within the company so that employees won’t be stagnant in their careers. If workers are bold enough to leave their current employment nowadays, it means that they are seeking professional growth and not simply after the money alone. They are attracted to growth-oriented job roles because this enriches their hunger for knowledge and experience, and it boosts their resume.

The key takeaway

Recruiters, this means that it’s time to put your best foot forward if you want to entice top talents in this tough labor market. Put in some effort to make your ideal candidates notice you among the competition. Working hard to attract the right candidates for your company will pay off because they will work hard to do right by you. So, consider it a wise investment.

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