How Engaged Are Your Job Candidates? Navigating 2021’s Shift in the Labor Force
Good candidates only stay in the talent market for an average of 10 days. With the never-before-seen shifts in job search due to the Great Resignation, it’s more important than ever for companies looking to add top talent to their teams to have an incredible candidate engagement strategy already in use.
How does your organization create memorable experiences for candidates before they apply, during the hiring cycle, and then during the onboarding process? If you’re unsure, keep reading along in part one of our series focusing on candidate engagement before, during, and after the hiring process.
In 2021, Candidates Are in Charge & Doing Their Research
Consider this: in September, 4.4 million Americans quit their jobs – 3% of the entire workforce – per a report from the Bureau of Labor Statistics. The previous record set in August at 2.9%. Last year, the BLS found the median tenure of employees aged 25 to 34 was just 2.8 years, although the median tenure for all age groups was 4.1 years.
As organizations are planning for their 2022 hiring budgets, they need to know and consider these additional recruiting and hiring statistics, according to data gathered by Glassdoor:
- 86% of HR professionals surveyed indicated recruitment is becoming more like marketing.
- 86% of employees and job seekers research company reviews and ratings to decide on where to apply for a job.
- 75% of active job seekers are likely to apply to a job if the employer actively manages its employer brand.
- A strong employer brand can reduce the cost per hire by as much as 50%, and a negative reputation can cost a company as much as 10% more per hire.
Holiday Hiring Adds Strain to Candidate Engagement
If these statistics weren’t enough, the extension of the Great Resignation into the last quarter of 2021 makes for even more strain for companies looking to ramp up hiring ahead of the holidays. Retailers are hoping to onboard 500,000 to 650,000 seasonal workers to meet demand, up from 486,000 hired last year.
These high-volume hiring requirements coupled with an active talent pool seeking better opportunities means labor market supply rests very much in the hands of the candidates.
Step One: Set Yourself Apart with a Branded Career Site
Many companies may realize that they need to overhaul their recruitment strategies, but become easily overwhelmed on the best place to start. If this is you, never fear – you’re already heading in the right direction by simply landing on this blog.
When we begin our collaboration with a new organization, we recommend initiating better engagement strategies with potential candidates with a branded career site. A branded career site, as the name implies, is designed to help increase brand awareness for your organization, while also gaining interest from potential new employees with a highly optimized site featuring your organization’s personal branded images, videos, and content that best suit your hiring goals.
Next week, we’ll share more information about how to make sure your talent stays engaged during the hiring process and beyond with more tools designed to streamline communications, automate processes, and onboard your new hires. In the meantime, if you’re ready to jumpstart your hiring practices before 2022, contact us today to request a free demo.
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