As the economy shifts and business leaders feel uncertain about the future, knowing when and how to hire can pose unique challenges. We’ve put together a guide to hiring in uncertainty, whether due to slower-than-expected global growth, ongoing inflation concerns, or other issues that plague your industry. Review our tips to make the process go a little more smoothly.
Hiring: By the Numbers
Although you may be feeling uneasy about what the future holds for your organization, the reality is that waiting too long to bring on talent can put you in a worse situation. According to the 2023 Hiring and Workplace Trends Report, put together by Glassdoor and Indeed, the labor supply is expected to remain tight. Between low immigration levels, aging populations and retirements and declining birth rates, the market remains firmly geared toward the jobseeker rather than the employer.
The result of this fact is a lower number of workers available to fill open positions. And with structural issues present in the American labor market, the supply becomes even further constrained. The fight for skilled workers won’t end anytime soon, so make sure to look at your hiring process and benefits to avoid putting off top talent, who may look elsewhere for work.
4 Tips to Improve Hiring in Uncertainty
Here are four strategies that can help you improve your efforts for hiring in uncertain times.
Focus on job descriptions
When competing with other employers for talent, your open roles need to stand out and accurately reflect the role. A clear definition of a job is a starting point that determines whether someone chooses to submit an application. Without that, you’re likely to get far fewer applicants, which narrows down the pool and forces you to choose from potentially unqualified individuals.
Create a precise, accurate and engaging job description for every role that’s open, and don’t be afraid to change it up when needed. Save time with templates, available within the ApplicantStack platform, which serve as a starting point for various roles in the business.
Build a diverse, skilled team
As you take steps to build successful, engaged and productive teams, consider the level of diversity. Different perspectives can benefit your organization overall, especially considering the fact that nearly two-thirds of workers between age 18 and 34 care deeply about diversity. In fact, a large percentage said they would consider quitting a job with or turning down a job offer from a company that lacks diversity in its leadership.
Take a hard look at compensation packages
When competing for talent, it’s essential to provide salary details. It wastes everyone’s time when jobseekers apply for roles that don’t align with their compensation needs or expectations, simply because the information wasn’t available.
As you implement salary details in your listings, you can also take a deeper dive into what your company offers. Remaining competitive is a must in a tight labor market, so consider how you can increase salary ranges or provide additional benefits to stand out.
Maintain open, transparent communication
Staying in contact with applicants provides a better experience, which can promote a positive impression of your organization. Additionally, doing so closes the gap between a jobseeker and an employer. Consider ways to maintain an open line of communication, such as using the texting functionality built into the ApplicantStack platform.
By implementing these tips and assessing your current hiring process, you can stay at the top of the pack to attract skilled individuals and maintain steady operations. Hiring in uncertainty doesn’t have to overwhelm you. Take advantage of ApplicantStack, an applicant-tracking system that’s designed to streamline all aspects of recruiting and onboarding. You can even try it for free, so get started and post your first job today!
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