7 Expert Tips For Best Hiring Practices in a Competitive Market
A recent article, “A Wrench in the Hiring Boom,” succinctly pointed out something that we at Hutchinson Consulting have also noticed—“with job offers coming as fast as five days and sometimes with multiple offers to choose from, competition between companies has given workers the ability to dictate terms.”
After a dismal year-and-a-half, hospitality is booming again and scrambling to fill open and much-need positions. Case and point—we have an unprecedented number of job listings that we are working diligently to fill with qualified candidates. But with this influx of opportunity, we have also noticed that candidates are being more discerning about their next roles.
To address this new normal in hiring, there are several things you can do to make your company the place where the most qualified candidates want to call home. It’s a competitive market, and you want to put your best face forward. Here, the experts at Hutchinson offer their tips for staying competitive and securing the best candidates to build your team.
- Act fast.
Candidates are getting offers in days versus weeks, so if you linger in your offer, you may lose your chance at hiring excellent candidate.
- Open with your best offer, and don’t low-ball candidates.
Candidates are often fielding multiple offers, so if you go in low thinking you can negotiate, they may simply select the best offer from someone else.
- Upgrade the title to make the position more appealing to the candidate.
This may also allow you to raise the salary to be in line with the current wage market.
- Seek out talent, and pay for it rather than taking a body to fill a vacancy.
This will result in more engaged employees who better fit your needs.
- Consider flex schedules and remote work.
Look at your job description, and see if some of the work role can be done remotely for a flex schedule position, which is appealing to candidates who have discovered that they can thrive while working from home over the last year-and-a-half.
- Create a menu of benefits offerings.
If you don’t have a menu of benefits offerings that you’re proud of and that differentiates your organization, it is time to create one. Go beyond tradition, and provide perks that support fulfillment and address and enrich the whole person— fun family experiences versus just team outings, paid time off specifically to pursue a passion, or rewards for achieving non-work-related goals.
- Be flexible with your onboarding options.
Candidates find that employers that offer flexibility and customization are much more appealing than those with strict and unbending rules.
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