By the summer of 2021, we probably thought "living through unprecedented times" was over. But the Bureau of Labor Statistics data confirms what we've all been feeling - we've never experienced hiring like this before.
- Open jobs reached a record 10.1 million in June.
- The number of people who quit their jobs rose to 3.9 million.
- Demand for workers was highest among business and professional services (retail trade and hospitality - foodservice and accommodations - businesses).
How can hiring managers and recruiters stand out and find the best talent to fill their open roles with candidates in power? Step one is understanding what employees are looking for today.
What employees are seeking today
According to research done by Accenture, a top consulting firm, 78% of workers strongly believe their employer is responsible for helping them become net better off, jumping from 68% pre-pandemic. The top priority for job seekers in 2021 will be securing a competitive salary. We're seeing hundreds of employees leave companies because their current employer isn't competitive enough in this job-seeker-friendly market. After salary, employees will want to be certain about job security and, thirdly, a work/life balance. This is a direct reaction to the uncertain financial situation many workers experienced throughout 2020. However, salaries have remained relatively stable. If your company or clients can offer a competitive, regularly-reviewed salary package, this will help attract top talent in the market.
Flexible working is another major priority for candidates, with nearly 54% reporting this as the top positive aspect of the pandemic. Once you consider commute time and money saved on transportation and commuting costs, it's obvious why employees have more reluctance to give up this newfound flexibility. It's essential that employers continue to offer some form of flexible working in 2021 and beyond, whether that's through a hybrid model or by allowing employees to work from home indefinitely.
How to use recruitment marketing to attract the right talent
- Reassess salaries and benefits. Employees today have learned to expect more from their employers. If there's no room to budget on salary or hourly wages, think about what other benefits you could offer to add value to employee's lives. Keep in mind the major pain points affecting your workforce and offer solutions like flexible scheduling, remote work, or subsidized child care. Add these perks to your marketing communications, so potential candidates see what sets you apart from the competition.
- Optimize your existing tools & leads. With so many people on the job hunt, hiring teams should prepare for a larger volume of applications. Make sure your team makes the most out of your existing talent pipeline and uses TA technology to re-engage existing leads via drip email campaigns or social media retargeting.
- Double down on an engaging candidate experience. It's the perfect time to test new technologies, like on-demand interviewing, chatbots, or even Tiktok, that make the application process quick and easy for candidates. With candidates in the power position, your team can stand out by prioritizing the candidate experience.
- Expand your search area. Cast a wider net geographically to increase your talent pool. Work with your vendors to update as many job descriptions as possible to national or regional roles instead of locking in a specific city.