4 proven ways to engage candidates during a talent shortage.

The talent shortage, aka the talent crunch, is a growing problem in many industries around the world. It refers to the difficulty employers face in finding and hiring skilled people to fill their open positions. This problem is especially acute in industries such as technology, creative, and marketing, where there is high demand for people with specialised skills.

So, how can employers address the talent shortage? Here are 4 proven ways to win over potential employees during a talent shortage:

1. Invest in employee development

The polls are in, personal development and growth is a big one, so you must pay attention. It is essential to invest in the development of your existing employees. This includes providing training and development opportunities, as well as offering programs to help employees advance their careers within the company. By investing in your employees, you can help them acquire the skills they need to succeed in their current roles and prepare them for future opportunities.

2. Offer competitive compensation and benefits

To attract and retain top talent, it’s important to offer competitive compensation and benefits packages. Consider including things like health insurance, dental care, retirement plans, and flexible work arrangements. By offering a comprehensive package of benefits, you can make your company more attractive and increase your chances of hiring and retaining skilled employees.

3. Create a positive work environment

Create a workplace culture that is attractive to potential hires. A positive work environment is one where employees feel supported, valued, and appreciated. When people feel this way, they are more likely to be engaged in their work, be productive, and stay with the company long-term. In addition, people are more likely to be drawn to a company that prioritises their employees’ well-being and happiness.

4. Expand your recruiting efforts

Consider the passive candidate market as well as active candidates. Passive candidates make up for around 70% of the marketplace. These candidates might not necessarily be actively looking for a new opportunity, but are likely to be interested if a ‘great’ opportunity is presented to them. Use a targeted outreach to present your opportunity to these passive candidates, and if you don’t have the time or means to do this effectively then do not fear, you’ve come to the right place (insert winky smiley here). There is a but (and it’s a huge but). In order to attract these passive candidates you must take into account points 1-3 otherwise they simply will not be interested enough to go through the process involved when exploring a new opportunity. 

Conclusion

To remain competitive in todays climate you must implement these 4 proven strategies, otherwise you will simply blend into a very competitive marketplace. Remember that points 1-3 are essential to engage the candidates that you want, point 4 will make sure that they see your opportunity, and how great your company is!