Over the past few months the TempsAhead team has been seeing a big shift in the market. With the unemployment rate decreasing, more and more quality candidates are being snapped up at a much quicker speed. In temporary recruitment, mere minutes of delay can mean losing your top choices to competitors.
But it’s not just temporary and contract employers who are affected. The temporary candidate market is generally about 3 months ahead of the permanent employment market; so the trends that we see in temp always prove a very interesting indicator of what is likely to come down the line for permanent hiring (and in fact our permanent team is already starting to see this!).
We have had many employers ask us what they can do to only attract but hold onto top candidates?
Rachel Kenny from our TempsAhead office in Vancouver shares her key factors to keeping A+ talented interested in a “hot” market.
1. Attracting candidates to apply for a position
Some companies are lucky enough to have such a strong employer brand that top performers will flock to them whether they’re hiring or not. But for everyone else who isn’t Google, your job description is of huge importance when it comes to attracting talent in a “hot” market. You need to get across the type of organisation you are, the essence of your culture and why people enjoy working with the company. For example, gym memberships, workplace facilities, unique projects, flexible work arrangements, benefits coverage etc. The role and responsibilities might be general across the market but you need to find some aspects that will set your company and culture apart from the competition.
2. Updating candidates and keeping informed
During the hiring process, the #1 candidate pet peeve is feeling they’ve been left in the dark. As part of the application process, make sure that once a resume submission has been received there is some form of communication that outlines the process and timeline for next stages. Should a candidate be brought in for an interview, it is expected that you will follow up on the meeting within a few days and outline next stages to candidates being taken forward. If you experience delays in the process, be sure to communicate it back to candidates and affirm your interest so that they don’t feel like they’re getting the “cold shoulder”.
3. Knowing what other offers they have on the table
It’s every hiring manager’s nightmare when you meet the perfect candidate, you make an offer, only to find out that they were offered another position in the meantime. At this point, you might have a second candidate in the running, but wouldn’t it have been beneficial if you had known other opportunities were on the table? That way you can be proactive and take any possible steps to speed up the process. Throughout your hiring process, make sure you are constantly aware of where each of your frontrunners are at in their job search. Who have they been interviewing with? Have they been made any offers? How does it compare to your role?
4. Move as soon as you can
In a hot candidate market the likelihood of a counter offer increases, so you better be ready to move! At the beginning of your hiring process, discuss with other decision makers what protocol will be for key “what if” scenarios. I.e. “What if we meet a candidate and we need to move quicker?” or “What if the candidate has another offer and we need to assess the salary?” If these scenarios are brought to light and there is a consensus regarding the interview and offer stages, you will be in a better situation to move quick when you meet that perfect candidate!
ABOUT RACHEL KENNY
Rachel hails from Ireland and arrived in Vancouver in 2010. She has a BA in Economics and Sociology and went on to achieve a Masters in Business Management. Rachel launched her career in Ireland where she gained experience in finance and administration while working in the banking sector. Her love of travel led her to pursue a career abroad to gain international experience. She often worked as a temp during her travelling days and really understands what clients need from a successful temp. Taking this onboard, Rachel helped launch the TempsAhead division and has built strong and lasting relationships with clients and candidates alike.