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HIRING STRATEGIES IN A TIGHT JOB MARKET

It is becoming increasingly challenging to recruit top talent due to the relatively low unemployment rate, the increase in job openings, and the lack of experienced candidates.  These factors require that companies need to be more creative and aggressive in their hiring practices.  In addition, there has also been an attitude change; it is much less of ‘who do I want’ and more of ‘who wants me’ attitude.  Listed below are some tips that may help provide success in the search for new talent:

  • Use multiple forms of social media: LinkedIn, Twitter, Facebook and actively engage on them. Connect to a related industry and check the posts and comments.  If there is someone who stands out,  you may have found a new employee
  • Turn part-time positions into full-time positions
  • Provide training opportunities for current employees to fill open positions
  • Restructure work in ways that adapt to the new workforce; reduce education and other requirements
  • Review the list of job skills and keep the essential skills versus losing a perfect candidate
  • Partner with a local community college and offer to speak with students; provide internship opportunities
  • Participate in job fairs and get involved in the local community
  • Speak at professional organizations and/or special interest meetings to meet potential candidates
  • Offer incentives to current employees who refer new hires, post open positions for visibility to all employees
  • Post for positions that you may have no intention of filling to gain a supply of candidates when a job does open-up
  • Provide a sign-on bonus to new employees
  • Ensure company website is mobile-friendly; a high percentage of searches are conducted using mobile devices

Another important factor is to understand the current perceptions of your company.  It is much easier to keep current employees versus hiring new employees.  It may be valuable to consider the following tactics to retain your current talent:

  • Be more competitive in wages
  • Provide employees stock ownership and/or stock options
  • Offer training programs for current employees to enhance bench strength
  • Provide a sense of organizational purpose and mission (valued by Millennials)
  • Permit flexible work schedules and work at home opportunities (valued by Millennials)

During the interview process, it is more important than ever to ensure that the process is as quick as possible to not lose viable candidates; ensure ongoing communication throughout the process to demonstrate interest.

Change can be challenging and demanding.  At WageWatch our compensation consultants can assist with your organization’s compensation needs and help ensure your wages and salaries are supporting your company’s business strategy and objectives.  In addition to our PeerMark  Salary Survey for over 100 local lodging markets in the U.S. and Canada, we offer a National Benchmark Salary Survey. With over 9,000 hotels and 200 casinos in our database, WageWatch’s hotel and gaming salary surveys are the most comprehensive surveys available to Human Resource professionals. For more information on our services, including consulting, salary surveys, benefit surveys, and custom compensation reports, please call WageWatch at 888-330-9243 or contact us online.