As the pandemic has eased, hiring needs have significantly increased. We’ve recently heard from a number of executives that they’re actively hiring, but aren’t able to find qualified candidates.
Here are a number of ideas to help address this challenge:
- Be very clear and concise on job postings. This should include both how the roles and responsibilities are listed, but also what is shared about the company itself. Avoid vague and non-inclusive language.
- Offer a referral bonus. This is a bonus paid to a current employee, board member, etc. that refers potential candidates to be considered for a job who end up being hired.
- Offer a signing bonus. This can vary by industry, but even a small amount can make an impact.
- Offer flexible scheduling. Although people do like working in-person, the ability to work remotely or in some hybrid model has really been a benefit to those who have a long commute, those facing challenges finding childcare, and those concerned about underlying health conditions. In fact, a Wall Street Journal article (LINK) published a few days ago (July 6) shared that Goldman Sachs and JPMorgan Chase & Co. are wanting employees to be in person five days a week. Their rivals like Citigroup are offering flexibility.
- Streamline the recruiting process to improve the candidate experience. This could range from asking fewer questions on the application to dropping an entire interview stage.
- Re-evaluate your pay rates. With more companies competing for talent, making sure you are at or above market rate can make a big difference to a qualified candidate.
- Expand where you have posted the job. In addition to having it posted on your website’s career page, on social media, and on alumni associations of universities, consider paid niche job boards and diversity job boards & groups.
While this is not intended to be an exhaustive list, it is a starting point. Make sure you reassess often on how recruiting progresses to see what else could be modified/optimized.
