At the start of the pandemic, recruiters had to deal with uncertainty on the hiring front, with companies struggling to stay afloat in the downturn. Meanwhile, the job market saw a surge in candidates with an increase in layoffs and lesser job openings. There are few events that cause our world to be flipped on its head and leave us gasping for breath as we fight to survive in the unexpected deluge. The pandemic in 2020 caused by COVID-19 has been one such for most businesses.
A shift in the job market
For quite a long time, candidates have had the upper hand in the job market over employers, leading to the market being termed as the job seeker’s market due to the restricted supply of available talent.
The pandemic turned the tables by shifting power to the employers, heralding the advent of the employers’ market.
Who holds the power in the job market is a supply-demand problem. Unemployment reached its peak during the pandemic, flooding the market with job seekers and causing the job market shift. Now as companies look to recover and bounce back from the slump in business, employers and recruiters need to wield their newfound power with wisdom since it will continue to remain an employer’s market in the near future.
In essence, due to the dawn of the employers’ market with increased job seekers post COVID-19,
- Job seekers are applying for any open role rather than just roles that fit them.
- Recruiters have a tough time filtering out the right talent for the position
For more information on what exactly the shift in job market entails and the benefits and challenges that recruiters face in the current scenario, check out this useful resource from Freshteam which has everything that recruiters need to know.
That brings us to the paramount question: What do recruiters and companies need to do to succeed in hiring when they suddenly find themselves holding more power than before?
This article provides a glimpse into the top 3 secrets for recruiting successfully in 2021.
Recruiting Secret #1: Get the right recruiting tools
The first secret comes from a very familiar proverb. But recruiters and HR folks don’t apply it to their recruiting tasks very often.
A workman is only as good as his tools. This couldn’t be truer for recruiting. Having the right tools is conquering more than half the battle when it comes to recruiting, especially in a high-volume applicants scenario.
Businesses have been transformed with tech and while companies are willing to invest in tools that would show a direct impact on their bottom line, they often put their HR needs on the backseat. However, companies are only as good as their people and to get the right people, they need to invest in the right recruitment tools that help them filter out the noise easily in an employers’ market.
Find out if you have these must-have tools without which you will be left behind in today’s world.
Recruiting Secret #2: Be focused in your efforts
‘How do I find good responses to my job posting?’ used to be a common concern for recruiters. Which is exactly why in present circumstances, it might be tempting to search for talent on all channels and platforms since job seekers are everywhere and any job posting will have applications pouring in. But in this case, a good response doesn’t necessarily lead you towards the right talent.
Focus on the channels that are most targeted to the role you are looking to hire. Restrict posting your openings to platforms the ideal candidates would frequent to reduce the number of misfit applications. For example, you can focus on GitHub for recruiting tech talent.
Some of these platforms have hidden sourcing techniques that help you make the best use of your postings. Save time on hunting for these techniques by checking out this candidate sourcing bible which gives you the latest tips and tricks to hire 10x faster.
Recruiting Secret #3: A new job market needs new rules
Get ready to unlearn some of the strategies that worked for you in the pre-pandemic period. Use data analytics to help you figure out the bottlenecks in the current process and weed out parts that are no longer effective.
Analyse and review all stages of your hiring process. You need to frame new hiring strategies to suit the change in job market and remote working scenarios of businesses.
For instance, screening resumes manually with the help of the hiring manager could be a potential bottleneck given the large number of applications pouring in to your job opening and it doesn’t make your job any easier if you have to follow up on email or call multiple times.
So, do recruiters need to do anything different to be successful in an employers’ market?
The answer is of course, “Yes!” But what do they need to do differently? There is a playbook to guide recruiters on the new rules of the game. Succeeding in recruiting great talent in 2021 might be easier than you think with the right guidance.
“The New Rules of Recruiting for 2021” is a must-have talent acquisition guide for every recruiter that provides guidelines that are proven to make recruiting more effective and efficient. It sets you up for success by providing practical ways to hire the best talent. It has been crafted with care by Freshteam, a leader in the HR tech space, with its all-in-one software for recruiters and HR professionals.
Download your free copy of the ebook now! Let us know how it has benefited you in the comments.