6 Rules for Hiring in a Candidate-Driven Market

Welcome to the employment market of 2019; it’s time to buckle up. With unemployment rates pushing lower than they’ve been in almost 50 years and job listings outpacing active candidates by a wide margin, we’re firmly planted in a candidate-driven market that shows no signs of stopping.

Competing for talent in a candidate driven marketplace
Give yourself a head start to compete for top talent

As a Hiring Manager or HR Professional, you’ve likely dealt with the fallout of this new season already. Maybe it’s your job listing lingering with little to no response though you’re offering competitive compensation and benefits. Or perhaps you are getting some traction on your listings but as soon as you place one worthwhile candidate and start onboarding them, another key member of your team is moving on. Commonly these days, you might finally find that perfect candidate, but they have multiple offers and you’re suddenly in a competition with limited information.

We’re all facing the same challenges. Even the most dynamic, creative, and committed human resources people are struggling to navigate the shift into this extremely tight employment market. It’s been a long time coming, but we’re here now and the question is; how do we compete for, win over, and retain the best talent?

Must do’s to compete (and win) in a candidate-driven market

  1. Be fast. Star candidates are in demand. You can’t sit back and operate at the speed of previous years. I get it, you have a process, but you need to kick it into high-gear. The best candidates will not wait for weeks to hear from any employer, even one they like, at any step during the hiring timeline. Having a standard hiring process and making sure other decision makers are on board with keeping the process flowing are a big help.
  2. Be transparent. The more they know about your company and how they align with you and your existing team, the better. It will encourage the right candidates to buy-in and make on-boarding a more intuitive experience. Candidates are driven more these days by how they are going to make a difference in your organization than salary alone.
  3. Be polished. Candidates are paying attention to more than you might think. Keep your company image polished. You want to look like (and be) a place people want to work.
  4. Make it clear what they’re going to get when they join your team. Perks and unique opportunities are great, but showing off your company culture and values are equally important. One of the best and most natural ways to share this information without sounding too formal is social media. But don’t forget to make benefits discussions a part of the offer, especially if you don’t want to get into a bidding war over talent. You can’t expect candidates to ignore benefits until they show up for their first day of work – it’s a bigger part of their decision these days.
  5. Avoid canceling or rescheduling interviews. It sends a message that they were less important than something else you had going on. Block your calendar and stick to it religiously. This is more common than you might think and derails a lot of great starts.
  6. Make time or leverage tech that enables you to be courteous. When you get that candidate following up for status or saying “Thank You” for your time post-interview, don’t ignore it. Even if you aren’t going to hire them or you don’t have an answer yet on the next steps, shoot an email acknowledging that you received their message. You can use a template or an applicant tracking system, it doesn’t have to take a lot of time.

Ready to tap into a steady stream of passive job seekers that may very well include your next superstar hire? Contact our team to learn how you can leverage our network of top-tier candidates.

Now’s the Time to Act; The Tech Industry Is Booming (And so Are the Salaries)

If you haven’t taken the market’s pulse lately, now is a good time to do it. In spite of where we were just eight years ago, it’s made huge positive gains and the tech sector, in particular, continues to thrive and outpace analyst expectations. And yet, there are simply not enough qualified applicants actively exploring the employment market to meet demand. 

There are not enough candidates in today’s market

Don’t let fear (or anything else) keep you from finding the job of your dreams

Soapbox time; I want to encourage anyone who’s been sitting on the sidelines and staying in a job that’s not the right fit or has no room for growth to consider making the leap and start actively looking. The job market has changed dramatically in the past eight years – even in the past few years – and continues to rebound steadily.

I understand that many people, including highly-qualified and well-liked employees, lost their jobs during the recession. It was the toughest employment market many of us will ever experience in our lifetime. And it can be tempting to stay put, especially if you’re someone who experienced a long period of unemployment during the downturn. However, there’s never been a better time to get out there than now.  

It’s a great time for tech candidates to test the market

Overall, tech industry salaries are booming and well-qualified candidates are receiving multiple offers. The number of qualified tech workers is expected to grow an average of 3.4% a year. Yet companies are still clamoring for top talent especially in the niche pockets of the tech world where qualified applicants and expert resources are extremely limited.

The takeaway from almost every tech employment study done this year is that salaries are climbing nationwide – not solely in larger cities like San Francisco and San Jose.

That means regardless of where you reside, chances are high that your local job market is experiencing growth too.

Most companies have fully recovered from the recession and are meeting or exceeding growth expectations. Corporations are back to striving to add services and products and increase market share instead of just maintaining the status quo. And historically, the first step to achieving corporate success is by bringing on talented and ambitious employees that share that vision. It could be you!  

Take advantage of trusted resources to streamline your job search

If you’re feeling rusty or unsure about branching out and exploring the job market, there are companies like Coppertree available and ready to help you. Not only can we connect you to opportunities that aren’t publicly advertised but we can also walk you through the local market stats and how your background and experience can benefit you.

Contact our team at Coppertree Staffing to learn more about the current market and how you can make the most of it.