Has your job been sitting on the market too long? Just like the real estate market, leaving a position open can generate negative perception. Here are three reasons you should consider leveraging consultants to improve your hiring strategy.
As an employer or hiring manager it is easy to forget that as a market fluctuates, so does a buyer’s (or candidate’s in this case) power over “the sale.” For years employers have operated in a seller’s market. There were a greater number of professionals available and willing to work than there were qualified opportunities. Job seekers were less picky and simply happy to have a job opportunity presented to them. Employers very rarely had to compete over talent as there was a surplus of qualified professionals available.
As of December 2017, Houston’s unemployment rate again reached record lows hovering at 4.3%. Despite the disastrous aftermath of Hurricane Harvey, job openings within our local market continue to steadily increase as we see fewer and fewer layoffs and departures. This is great news for our local economy but a tough market for those employers seeking to grow their accounting, finance, and tech teams in the Houston area. With unemployment at record lows and supply down for qualified talent, the biggest challenge employers and hiring managers face in 2018 is labor resources.
As the tide quickly turns from a seller’s market to a buyer’s market, employers now have to work harder than ever to attract and retain talent and job seekers grow increasingly picky about their next move. What does this mean for employers? Employers must streamline the decision-making process. Employers must evaluate how they are marketing job opportunities to maximize exposure and the appeal of the job to qualified professionals.
The Impact of Extended and Frequent Job Vacancies
Just like when you sell your home, if a job opportunity sits on the market too long, potential buyers or candidates begin to question why. Is the company not performing well financially? Is the salary range low? Does the company have a bad corporate culture? In addition to attracting negative public perception, job vacancies also create a strain internally as employees work to ensure the role’s responsibilities continue to be completed.
Additionally, similar to when employers view the resume of a job hopper, if the position has a track record of high turnover, potential candidates begin to question why. Is the position reporting to a difficult boss? Does the job description fail to accurately represent the role? Not only does this reflect poorly on the company, it also can deter future qualified talent from exploring opportunities with your company.
Augmenting your hiring strategy with consultants
Consultants and interim professionals are a great alternative to allowing jobs to remain unfilled for extended periods of time until the right hire is identified. Here are three reasons you should consider leveraging consultants and interim professionals to improve your hiring strategy:
- Improve perception. By leveraging consultants for an extended period of time, you are demonstrating your commitment. You are also giving your organization more time to identify why the role has not been successfully filled, develop an alternative approach to hiring for this role, and receive direct feedback from a consultant who grew to understand the role.
- Reduce strain on staff. Whether the role you are trying to fill is new or simply open due to an employee departure, there are responsibilities associated with that role that are currently either being completed by other employees or simply not being completed at all. In today’s tight candidate pool, you can expect that your employees are receiving calls from recruiters. Leveraging consultants and interim professionals demonstrates an employer’s sensitivity to burning out the team and promotes a positive culture where employees are not overextending themselves. When hiring a full-time candidate for the job, it is also extremely appealing to applicants to know that the position they are walking into has been maintained despite being unfilled.
- Try it before you buy it. If the role is challenging, finding the right fit can be difficult. The last reason you should consider bringing on a consultant is that it presents you, the employer, with the opportunity to get to know an employee before committing to them on a permanent basis. Think of it as a working interview– how better to realize the proper personality and technical skills.
In conclusion, as demand for qualified talent continues to climb and supply decreases, an employer’s ability to integrate flexible hiring arrangements into their hiring strategy will become increasingly important. Ensuring the success of your organization’s workforce will require out of the box thinking and consultants are a great resource to improve perception for job seekers, reduce stress for your team, and give you an opportunity to ensure a potential employee is the right fit before making a final commitment.
If you are interested in learning more regarding our accounting, finance, or information technology recruitment services, contact a member of our Talance Group team! To learn more, visit us online at https://talancegroup.com/.