Synopsis: With a growing talent gap in many industries, it’s not easy for business owners to find qualified employees. Below, we’ve offered some strategies to help you find that qualified candidate.
With an unemployment rate in the 5% range, its becoming tougher and tougher to find the right employee. In some fields, it feels downright impossible.
In a recent study by hiring firm Manpower Group, they found that in 2014, 33% of jobs offered by firms went unfilled due to the lack of skill development required to perform the duty from candidates. That’s up sharply from 2013’s numbers which came in at 24%.
And the last thing you want to do is hire the wrong employee, especially if you’re a new or independent business, since it will cost you money. According to a Career Builder survey, 40% of employers said the wrong hire cost them $25,000. And 25% of the owners polled said it cost $50,000. That’s money you can’t afford to lose.
So with the increasing talent gap, how do you manage to fill that specialized position you need to help your business grow? It’s not always as simple as 1, 2, 3. But look at these possible solutions to your hiring woes.
Temporarily Fill That Gap
Think of other ways to fill that role, until you find a more permanent solution. Do you have a retired friend or former employee that could handle the duties for the short-term? Have you thought about a virtual employee or maybe hiring a contractor to perform the work? Both offer short-term experience, without the long-term cost. And they can serve your needs, until you find a candidate that has the right requirements to fill the position.
Train Your Current Employees
An important aspect of turning your company from a new business into a steady, consistent one is ensuring your employees have the talent to grow within the organization. This will help you retain and benefit from their expertise in the future. But it takes time, so make sure to plan in advance.
Target People Who Already Have Jobs
The ideal employee is one that can contribute rapidly and significantly. These people know the business and customer, have the requisite hard skills, as well the soft skills and attitudes that make them valuable. With the exception of recent transplants and major family changes, why would any of them NOT have a job?
This is not to say that all of these stars love their current position, compensation, company, or boss. Many would gladly entertain an upgrade in any of these areas. The problem for you is that research tells us that these people aren’t looking for changes on job boards or announcing their discontent on LinkedIn or resume sites.
To get their attention, you need to reach out to them. This can be expensive (via headhunting or your valuable time), and is challenged by the fact that its often hard to find/indentify candidates in the first place. So why not try what marketers do every day to find and influence new customers? Advertise.
Recruitment advertising can range from simply saying that you’re hiring and a great place to work to employee testimonials and specific messages about your culture, specific positions, etc. And when you’re advertising the strengths of your firm, as these ads should, they have an important additional benefit of raising the awareness and improving the esteem of your company among potential consumers!
It can truly be a win/win. And when you consider the full cost of recruiting and making bad hires as many businesses do these days, you may find that advertising for your recruiting needs has very strong ROI for your business.