How to Hire When Unemployment Is at an All-Time Low

The Reserves Network

Low unemployment rates are a wonderful thing but can create problems for some organizations when it comes to recruiting new talent. In fact, it is increasingly more difficult for some organizations to hire new recruits due to the scarcity of candidates seeking jobs.

By reconsidering hiring strategies and changing your mindset, however, you can attract the right talent for suitable job roles. The trick lies in acquiring a competitive advantage over your rivals by using innovative approaches.

Her are 4 smart strategies to help you combat hiring hurdles:


  1. Recruit from a larger talent pool

If the talent pool is shrinking in your area, your might want to consider national and international resumes as well. Many candidates—from other states as well as from other countries—may possess the skills, qualifications and experience you want. What’s more, many may be willing to relocate for the right opportunity. Hiring international candidates also helps provide diversity in your workforce that can spark innovation.


  1. Be in-the-know

Conduct exit interviews to uncover the reasons for quitting. Research your competitors to learn about their compensation levels, perks and benefits that they’re offering, and what a typical work day looks like for their employees. This information offers new insights on how to tweak your hiring strategy for better outcomes. You should also read their online reviews and understand areas where your organization has the upper hand.


  1. Offer innovative perks

While compensation is obviously important, offering useful perks can help give your company a special edge over your competition. For example, you may want to consider work-from-home options, flexible work schedules and quality health insurance. Other interesting perks could include free coffee, subsidized lunches or shorter work weeks. Conduct a poll amongst your existing team members to identify popular perks and highlight them in your job postings.


  1. Offer training so candidates can learn new skills

At times, the best candidate may not possess the complete skillset you’re looking for. Be willing to train them to fit into their new role. Your willingness to offer additional training allows you to choose from a bigger pool of candidates. This makes it more likely that you’ll find a close fit for the job role.

With so many organizations looking for employees, candidates have the freedom to pick and choose the best job options. In order to be perceived as an employer of choice, you need to re-think your hiring strategies to make it more attractive to the right talent. A creative and proactive approach to the hiring process can help smaller businesses attract and retain good candidates.

At The Reserves Network, we help our clients by offering exceptional recruiting, training and human resource support services. Contact us for direct hire, temporary and temp-to-hire staffing solutions.


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