4 Steps for Fueling Talent Growth When You’re Facing Labor Shortages

Many companies have faced labor shortages. Yet, even in competitive markets, it’s possible to recruit stellar candidates. Here’s a closer look at four strategies that companies can use to find top talent in tight markets.

Whether they need developers to code in an in-demand computer language, or sales professionals who understand the nuances of doing business in a niche space, many businesses struggle at some time with a labor shortage. Yet these critical positions play a vital role in moving your business forward. There are several strategies companies can take to fuel talent growth when highly qualified candidates are scarce. Here is a closer look at tactics your company can employ when you’re having a hard time recruiting the best hires.

 

Create a Culture of Talent Development
Filling critical positions doesn’t just begin with the recruiting process. Instead, it requires cultivating a culture of talent development that impacts every level of the organization from hiring to succession planning. A culture of talent development can help address labor shortages in three ways. First, incoming candidates are drawn to your company as a result of the available training and advancement opportunities. Second, existing talent can be cultivated for critical jobs through training, coaching, and stretch assignments. Finally, satisfied workers are more likely to make high-quality referrals from their own professional networks. Organizations that make it easy for talent to flourish may be better able to recruit top performers.

 

Optimize the Recruiting Process and Candidate Experience
In high demand fields, making a great first impression with candidates is essential. One of the best ways to do this is to focus on offering a streamlined recruiting process that prioritizes the candidate experience. How easy is it for prospective candidates to learn more about your company and available jobs? Can they apply online with ease, even if they’re on a mobile device? Do your communications systems, interview timetables, and candidate feedback loops support a great candidate experience? Eliminate possible barriers to getting qualified candidates to apply, and structure a great experience. Candidates often determine whether to accept an offer or not based on their interactions with your company during the recruiting process.

 

Leverage an Applicant Tracking System
Using one of the latest applicant tracking systems can help improve both technological execution and internal processes. An applicant tracking system helps companies in numerous ways. It’s easier to post jobs and to widely promote them through job boards, email newsletters, and social media platforms. Screening questions help you automatically filter out unqualified applicants and enable your recruiting team to immediately contact strong candidates to start the process. Centralized candidate data management keeps all internal stakeholders informed, and allows your company to be proactive when communicating with potential employees.

 

Tap Into New Sources of Talent
If your company is struggling to find qualified candidates that you’re interested in hiring, it’s time to look at how you’re sourcing your applicants. For example, if college recruiting plays an important role in the process, perhaps it’s time to expand the colleges where you recruit and focus on additional schools. If posting jobs alone isn’t working, consider leveraging social media or strategically networking with industry organizations to get opportunities in front of a wider audience. Choosing candidates from a broader base of prospective talent can infuse new life into your recruiting efforts.

Even in fields facing talent shortages, it’s possible to find great candidates. Building an agile recruiting process using the right applicant tracking system, prioritizing the candidate experience, and finding ways to expand your recruiting pool are all steps in the right direction.

For more information on how to use an applicant tracking system to overcome labor shortages, please download our talent communities whitepaper.

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