It was the best of times. It was the worst of times.
Today’s labor market is definitely a tale of two “cities”, with job seekers loving life and employers finding it harder than ever to locate and keep top talent. Candidates are able to demand more than ever from employers. They expect frequent, transparent communication, as well as a reason to believe in an organization and its future. Employers can’t just post a job and wait for the resumes to roll in. Organizations have to work to locate, hire and keep the best talent.
As your company looks at the current labor market, it should ruthlessly focus on the things that are most essential to job seekers. With that objective in mind, below are a few best practices that can help keep your labor efforts on track this year.
Employer Branding is Must-Have
An employer brand is the way in which a company is seen in the labor market. It’s how a company presents itself, both to job seekers and to its own employees. Hiring and keeping top talent is about more than just speaking to candidates when it’s time to hire. Companies ought to be striving for great employee reviews on sites like Glassdoor and trying to make ‘Best Places to Work’ lists.
Focus on Speed-to-Hire
Locating and hiring top talent has never been trickier. The bull economy is forcing many companies into hiring mode and the demand for talent has translated into longer hiring processes.
To be able to hire the best, you have to move swiftly. The important thing is how quickly you and your applicants can determine a reciprocal fit. By informing applicants with a strong company brand and communication strategy, you are in a position to hire best-fit candidates rather quickly. Given the state of the labor market, it’s essential to create a holistic hiring approach that attracts and recruits as efficiently as possible.
Keep Tabs on Employee Reviews
Ignoring feedback from current and former employees on Glassdoor is a losing approach. According to multiple studies, an overwhelming majority of job seekers look up employer reviews and ratings during job search or application process. Companies that neglect to consider reviews will find hiring and keeping top talent much more difficult than those that do.
Negative reviews are difficult for anyone to handle. The best approach to handling bad reviews is to respond in a professional, authentic and grateful manner. Your company should see bad reviews to address issues and build up its culture.
Don’t Forget about Gen X and Young Boomers
Millennials, and now Gen Z, may be getting all the headlines these days, but they should not be the only candidates your company ought to be focused on hiring.
Employers that focus on older generations and develop programs that most of the Gen X and Baby Boomer talent pools will gain a strategic advantage in the battle for talent.