If you’re hiring right now, you may feel emboldened by finally being in the driver’s seat when it comes to the job market. But don’t let that newfound power go to your head. We’re seeing some employers experiment with risky hiring practices, which is turning job candidates away.
“It’s tempting to feel that since so many good candidates have lost their jobs that you—as an employer—can get a good ‘deal’ by reducing pay, adding job requirements, or other measures. But that won’t work,” says The HT Group President Chad Macy.
The following mistakes, he says, are backfiring for employers right now:
- Dragging your feet. “We’ve seen employers lose out on their top candidates because they thought they had all the time in the world to decide. Meanwhile, one or more competing employers are interviewing the candidate, too,” Macy warns. Time-to-hire is as important as ever. Your competition is still moving fast, and those with a refined remote hiring process are winning the best candidates.
- Requiring too much. Macy has also seen employers taking the opportunity to stuff job descriptions with extra qualifications, thinking that an otherwise passive candidate is out there with every single attribute they want. Our job market is already rebounding, though, so keeping someone who matches every qualification without room to grow or compensation to match is a losing strategy in the long run. “At the same time, you’re missing out on new grads and other candidates who have the soft skills and potential you need,” Macy says.
- Skimping on competitive pay and benefits. Assuming job candidates are too desperate to insist on top pay and excellent employee benefits is a big mistake. With health and economic uncertainty being top-of-mind, job candidates will be weighing your compensation packages carefully against other employers. SHRM reports that, according to a June 2020 survey, other companies are considering expanding virtual or telehealth programs (32%), enhancing mental health support (25%), and increasing cost-sharing for plan expenses (20%).
- Arbitrarily forbidding remote work. Suddenly, exponentially more employers worldwide have discovered that their workforces can be productive working from home. They also realize that means their candidate pool is much broader than they thought—worldwide, in fact. At the same time, many top candidates aren’t ready to return to an office setting—either because of health concerns or they, too, are realizing the benefits of remote work. “Some are even hesitant to take a new location-based job because a spouse has been laid off, and they need the option of moving to another part of the country if needed,” Macy adds.
Successful hiring that leads to retention is a marathon, not a sprint. There are fantastic job candidates out there for employers who are hiring right now. But those candidates still deserve the respect and consideration they always have. Contact our recruiters for more on how other employers are winning top talent in the current job market.
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The HT Group fills roles in Temporary Staffing, Executive Search, Technical Recruiting, and Retained Search.