Just like we think of a buyer’s versus a seller’s market, we can look at the job market in terms of who holds more influence. The Great Resignation has made it clear that workers have more power than they have in recent years, placing employers squarely in the position of selling a house in a buyer’s market. That means that organizations must adjust their approach to hiring. Austen Allred, co-founder and CEO, BloomTech, discusses four ways companies can leverage tech to recruit top talent in a challenging market.
Nearly 7 in 10 companies struggle to find workers with the right skills to fill open positions, according to 2021 researchOpens a new window . The demand for talent is higher in some industries. At the beginning of 2022, companies reported the strongest hiring outlooks among IT, technology, media, communications, and telecom roles, according to another surveyOpens a new window .
To make it through the Great Resignation, here are four ways your company can leverage technology to hire the talent needed to thrive.
1. Look for Talent in Unconventional Places
If you limit where you look for talent, you limit your company. Conventional talent pools will only get you so far before you struggle to fill roles, ultimately impeding your organization’s innovation, growth, and competitiveness.
Take a hard look at your go-to hiring practices. Do you recruit from the same source or the same type of source? Do you swear by an alumni network, a single job platform, or employee referrals? These can all be terrific ways to find candidates, but depending too much on traditional sources narrows your options.
Consider untapped resources that could deliver unexpectedly strong applicants. A talent intelligence platform like Eightfold.ai or RippleMatch can proactively surface strong candidates who match role requirements and company culture (e.g., aligning applicants’ preferences on work flexibility or opportunities for advancement with how your organization operates).Â
Freelance platforms like Upwork can also reveal skilled talent that might not be actively applying to jobs but might be open to recruitment.Â
Companies are developing relationships with reskilling nonprofits, vocational schools, and online training programs to find even more nontraditional talent. Some organizations partner with hiring managers to match their highly qualified participants with job opportunities.Â
Leveraging tech to proactively find talent and broadening where you seek job candidates can increase the number of qualified applicants and the diversity of your candidate pool and, potentially, your workforce.Â
As studies have shown, DEI efforts can impact your company’s bottom line and longevity, as more diverse companies tend to outperform their less diverse competitors.Â Â
2. Resource Hiring Teams To Be Ultra-responsive
When employers hold more influence, job applicants may be willing to jump through hoops or wait patiently for feedback. During the Great Resignation, though, applicants may quickly move on from unresponsive companies.Â
The average response time after a job interviewOpens a new window is 24 business days. That’s too long in today’s market. Letting job applicants dangle for weeks will likely result in them finding a job elsewhere.Â
While many factors influence hiring speed, leveraging technology can expedite the process. For example, applicant tracking systems (ATS) like Workday or Zoho can enable recruiters to automate tracking, quickly engage their candidates, and avoid letting a candidate slip through the cracks. Some platforms even include texting solutions to help draw in younger talent how they prefer to be reached.Â Â
Dedicating resources to the hiring process shows your organization is dedicated to applicants’ experience of the process. In addition to technology, these resources may also include:
- Contracting recruiting professionals to help during heavier hiring periods
- Temporarily lightening other responsibilities of employees involved in the hiring process
- Involving leadership, so everyone understands the importance of quickly filling open rolesÂ
An ultra-responsive hiring team shows job applicants that your company is invested in bringing them on.
3. Embrace Flexibility for Job â€œRequirementsâ€
Take a look at a job posting, and it may seem more like a starry-eyed wish list than a realistic account of what’s truly needed. Postings filled with nice-to-haves masquerading as requirements don’t result in efficient hires. They result in frustration and difficulty finding the right candidate.
An overly long or strict set of requirements may also cause qualified candidates to self-select out of the candidate pool by never applying. Likewise, a candidate who would be a terrific addition to your team but has 4, not 5+ years of experience may never get a chance to shine.Â
Technology can but doesn’t have to exacerbate this risk. Screening tech based on binaries (possess a bachelor’s degree? y/n) can filter out otherwise strong applicants.Â
Instead, frame former â€œrequirementsâ€ as preferences. You’ll be in good company when you do.Â
So, before you create a job posting and calibrate technology to dismiss an application that hasn’t checked a given box, seriously consider if your requirements are truly required to get the job done.Â
4. Empower Applicants To Demonstrate Skills
How do you sift through a sea of candidates if you’re not eliminating applications that don’t meet strict requirements?
There is a growing trend to evaluate potential workers based on skills. This approach is more objective than relying on a list of skills on a resume. Tech platforms that enable colleagues to verify job applicants’ skills are beginning to emerge anonymously. Merify, which aims to replace conventional resumes, is one such company.Â
In fact, more organizations are adopting pre-screening assessment technologies that can help remove unconscious bias and save time in the recruiting process. Tech-based skills tests, cognitive assessments, or emotional intelligence evaluations can screen out candidates who are â€œgood on paperâ€ but not in practice and highlight strong candidates who don’t have traditional bona fides. Â
I see a growing trend of companies taking this concept to the next level with â€œtrial to hireâ€ practices. This effective approach brings on a potential hire for anywhere from one day to a month, paying them for their time and seeing their skills firsthand.
If you want to know how someone would work in your company, have them work in your company.Â
Hiring struggles resulting from the Great Resignation certainly pose a challenge to companies, especially those experiencing growth. By adopting the right tech and people solutions, you will be able to improve and accelerate your hiring practices. This will help your organization not just to survive but to thrive.Â
How are you using technology to improve hiring during this period of uncertainty in the talent market? Let us know on FacebookOpens a new window , TwitterOpens a new window , and LinkedInOpens a new window .