Top Transferable Skills Companies Value in a New Hire
As the job market continues to evolve, companies are shifting their focus from just technical expertise to candidates with a...
Need the right person to get the job done? While identifying top talent is a fundamental part of a recruiter’s role, it has become an increasingly challenging task. As industries face heightened competition for attracting top talent, agencies must adapt their methods to meet these changing demands.
According to Forbes, employers worldwide are struggling to find the right professionals, with the demand far outpacing supply in industries like IT, healthcare, and finance. A significant factor driving this phenomenon is mismatched skill sets. Many candidates seeking employment may not have the skills employers require; some might even be overqualified.
This increasingly creates workplace scenarios like delayed project timelines, understaffed businesses, and hampered productivity. This growing talent shortage pressures recruitment agencies to rethink strategies and enhance their services and functioning.
Currently, it is projected that the global talent shortage is expected to reach 85.2 million by 2030, as highlighted in this recruitment statistics guide
This statistic alone emphasises how it is crucial to implement action-oriented strategies recruitment agencies can use to meet the changing demands. As the global talent shortage is on the rise, various other issues also surface, such as skill gaps across industries, the impotence of current hiring processes, and how agencies fail to position themselves as valuable partners for businesses.
Recruiting recruiters need to sharpen their negotiation and closing skills to secure the best candidates in the current job market. This involves key components like:
– Building strong relationships- Establishing a strong personal connection with candidates is important to understanding their motivations, career aspirations, and circumstances. This allows them to match candidates with the right opportunities, increasing job satisfaction and reducing employee turnover, making it a win-win for everyone involved.
– Leverage market insights- Recruiters should stay informed about industry changes. This knowledge enables them to negotiate offers that meet the candidate’s expectations, such as salary and benefits, and align with the industry standard.
To address the growing skill gaps and expand the available talent pool, recruitment agencies must focus on enhancing the skills via providing upskilling and reskilling opportunities:
– Identify the Skill Gaps- Assess the candidates and determine which skills they lack. This can be done through surveys or collaborations with clients.
– Partner with Training Providers- Collaborate with specialised institutes that develop up-to-date programs addressing specific skill gaps. For these certifications and workshops to prove effective, they must add value to the candidate’s qualifications.
Widen your network with active participation in industry events. These are meaningful opportunities for building relationships and expanding networks:
– Engage in Networking Events- Attend conferences, trade shows, local meetups, and similar events to connect with potential candidates in person. Recruiters can gather valuable insights and referrals through these interactions.
– Build Relationships with Industry Leaders- Connect with influential individuals and thought leaders. Their endorsements can enhance your agency’s reputation and help you attract high-quality candidates.
The fastest way to find a suitable candidate is to search for them within the organisation. Encourage internal promotions in client organisations to fulfil critical roles, as this helps retain high-quality talent compatible with the organisation.
– Enhance Employee Engagement- Help organisations foster an environment where employees feel seen and valued. Improve the existing career growth opportunities with active collaboration to reduce employee turnover.
– Facilitate Internal Transfers- Create structured programs that allow employees to transition smoothly into their new roles. This fills vacancies, boosts employee morale, and keeps operations smooth.
Invest in strengthening the employer brand to position them as a valuable industry player. This can attract and retain top talent. This can be done by following these steps:
– Showcase Company Culture- Actively promote the benefits of the workplace and its culture through various communication channels, including websites, social media platforms, job postings, etc. Highlight aspects like work-life balance, employee well-being support, inclusion, etc.
– Gather Employee Feedback- Conduct surveys to understand what employees value and like most about working for the organisation. Use this feedback to refine the employer branding efforts to address concerns.
This is a powerful tool when searching for high-quality candidates. Over time, employees build a network of professionals at different stages of their careers. A referral program can help them use this network to bring quality talent to the organisation.
– Streamline the Referral Process- Make the referral process simple. This will ensure that the employees complete the procedure and refer successful candidates to the company.
– Incentivise Referrals- Offer bonuses or other incentives to the employees who refer successful candidates. This motivates them to refer candidates who are likely a good fit, ensuring minimal hassle for everyone involved in the process.
When it’s hard to hire, it’s truly in your best interest to foster talent for the long term. Provide appropriate compensation and benefits, professional growth, and a non-toxic work environment, ensuring current employees like their workplace. Candidates who feel valued and at ease in their work environment will likely stay committed to the organisation, reducing employee turnover rates and stabilising the company.
As the global talent shortage continues to worsen, it presents various complexities; recruiters must step up to face the challenges with consistent strategies that evolve with client and candidate demands. By using the above solutions, recruitment agencies can significantly enhance their effectiveness and emerge victorious in this battle of talent acquisition.
Need support in recruiting the best match for your company? Reach out to Talent Higher and get experts to turn the recruitment process in your favour!