Since the onset of the pandemic, both employers' and employees' needs have significantly changed. One of the biggest changes the talent market has experienced is that candidates now have more of a say in the type of work that they do and the job that they accept. Employers used to have a bigger say in who they hire and what they offer their employees, but with a consistently high number of unfilled positions, employers need to level the playing field and adapt their hiring strategies to ensure they're the employer of choice in this evolving market.
In Yoh's recent podcast, Day & Zimmermann and Yoh's Vice President of Talent Acquisition, Launia Terry, and our host, Joe McIntyre, discuss how companies can improve their talent acquisition strategies to stand out in candidates' pools of potential employers and ultimately hire and retain the best talent. They also discuss how candidates need to voice their needs so that companies understand how they should be adapting their talent acquisition and management practices.
Listen to our podcast below:
Salary and Compensation Aren't Everything
Since the start of the pandemic, employees have realized that there are more viable and flexible ways for them to work efficiently. So now that they can be selective about their employer, the majority of candidates are demanding a flexible work schedule and environment. It's essential for employers to ask candidates what they want and to compromise because salary and compensation are no longer the be-all and end-all for attracting and retaining a strong workforce. Offering additional benefits will go a long way in enticing today's candidates to stay on board.
What Should Employers Be Focusing On?
Employers need to determine the right tools, strategies, and incentives to optimize the talent acquisition process for their organization and potential employees. Launia suggests some key elements for companies to improve upon, including:
- Optimizing their employer brand
- Improving hiring process efficiency
- Re-evaluating their job descriptions
- Leveraging an employee referral program
- Implementing a social media hiring strategy
By focusing on the strategies mentioned above and listening to what will entice candidates to work for your company, you will be on the right path to bridging the existing talent gap.
For additional insights on how to alter your talent acquisition strategy to remain competitive in this talent market, listen to our full podcast here.