4 ways to attract jobseekers in a tight labour market

​Needless to say, the labour market has vastly changed. These days job seekers have more opportunities, and it’s the companies that have to be more versatile to attract job seekers. It is now more crucial than ever to advertise with values alignment in mind. The reason why your company and the jobseeker should see eye to eye when it comes to work ethics, is so the company and the employee can both prosper together.
 
In light of that, here are 4 ways you could attract job seekers in a cut-throat labour market. 

1. State Your Values

When the labour market is tight, it’s important to stand out as a preferred employer with clear values. To do this, businesses should be transparent about their policies and practices in order to tackle the current generation. 

For instance, a study mentioned in RBC Royalbank states that 47% of workers would be loyal to their organisation if they stood up against discrimination regarding diversity, and inclusion. That said, when you start advertising for a position or are revamping your website & social media, it is vital you highlight the company's values and what your purpose is. This will allow potential future employees to understand why your company exists (apart from making a profit) and allow them to identify with the company's values before they apply. 

Additionally, prioritising mental health support services for your employees and offering benefits such as hybrid work options, health benefits, and social clubs will ensure the potential employee can see you take action on your values. These elements of a workers package will also create a positive culture which in turn builds a positive employee brand. 

2. Offer Flexible Work Arrangements

One thing that the pandemic has taught us, the traditional 9-5 model is no longer the only option to operate a company. Offering hybrid work arrangements are quickly becoming the new normal for many companies. 

A study done by Gallup recently states that the greatest advantages of hybrid work to date are improved work-life balance, more efficient use of time, control over work hours and work location, burnout mitigation, and higher productivity. 

However, a downside to only working remotely, can cause staff to become disconnected and loose motivation. It is important to maintain some work time in person, but provide the team with flexibility to do their best work in the right setting. Consistent time together, and individualised focus time remotely, tends to be just as attractive to new job seekers as a competitive salary. You might find that some will happily take the flexibility over more money.

3. Pay well and Disclose Income Ranges

Underestimating a worker’s efforts is a massive dead-end. In the same way, a straightforward and fair compensation package can put you on the map. When advertising your role, consider being transparent about what your pay range is and what they can expect to earn if they do well. This also helps to align perspective employees pay expectations with what your company can afford, reducing the risk of having uncomfortable conversations later on in the hiring process.
 
Recent data from Seek suggests that application numbers increase significantly when an employer publishes their pay range for the role. This helps the company stand out as a transparent employer who has pay equity across its organisation.
 
This could also include meaningful bonus’s or well-structured commissions that will help retain and recognise top talent within the business. When people realise that one of your company's core missions is to retain and recognise high performing employees, the right talent could be drawn to your company through referrals from your valued employees. 

4. Use AI For Recruiting

Gone are the days when employers spent weeks sifting through CV’s. When it comes to screening, interviews, and finding the best fit for your company, using artificial intelligence (AI) tools is a wise choice. The faster you can screen and get in contact with the job seeker the more likely they are to be engaged in the process and join the company.
 
Something you might have forgotten as a hidden pool of potential talent is your company database. Existing databases usually have a large amount of passive job seekers who are already familiar with your brand. Utilising AI, this diverse pool of talent that you're about to tap into, allows you to dig deep and bring out the lost talent in a matter of seconds. As a result, locating the star candidate based on different qualifications and designations is quite easy.

Takeaway

Your employer brand reflects how you'd choose to treat your future employees. Therefore, to heighten its effectiveness, you must put in some effort and make your offer more attractive. If your offer is aligned with your values and you are transparent about these, you will not only attract top talent but ensure you keep them long term. 

Be that as it may, refrain from giving false promises and only stick to your genuine mission. 

Although the labour market is quite competitive, if you play your cards right with these pointers, you will attract not only those people who have the right skills, but with values alignment, they can potentially take your business to the next level.

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References
https://discover.rbcroyalbank.com/7-ways-to-attract-and-hire-employees-in-a-tight-labour-market/
https://www.gallup.com/workplace/398135/advantages-challenges-hybrid-work.aspx
​Photo by Eric Prouzet on Unsplash