It’s no secret that the market is candidate-short right now. It’s a candidate-driven world, and businesses are finding it harder and harder to compete and appeal. 

Is there still plenty of fish in the sea? 

Recruit smarter – not harder. Adapt to attract quality candidates in a competitive market.

How to overcome the candidate-short market

1. Review your selection processes

It’s 2023! Be inclusive of candidates that are often excluded or (unwittingly) discouraged. Say goodbye to hiring practices that diminish these candidates’ ability to demonstrate their suitability to the core job requirements. 

Diversity in the workplace is a must. So it’s important to review which of your current processes may be limiting and expand them to open doors to candidates that may have been (previously) overlooked.

Does your company have a clear (and backed) diversity and inclusion statement? Are your offices accessible for those who may require a mobility device? These are all factors to consider.

2. Re-evaluate the importance of a degree to succeed in a role

These days, many roles can be taught on the job, learned through an apprenticeship, or by assisting someone with deeper knowledge. 

Do you have irrelevant prerequisites listed on the job description?

If the job can be done (legally) just as well by someone without a uni degree or specific diploma – it might be worth re-evaluating what makes it onto your essentials list.

Try not to confuse must and would be nice in these circumstances. As doing so will limit your candidate pool unnecessarily.

3. Offer more (remuneration, rewards, incentives)

Is your offer up to date? Review your offering, compare the market and amend. Ensure your offer is equal to (or above) your competitors. It’s not about throwing money to the wind but remaining current. 

Pandemics, rate rises, general inflation, cost of living… everyone has been affected over the last few years, and remuneration packages should reflect your knowledge (and understanding) of this.

Offering more isn’t always financially based either. Consider making your offer more appealing by understanding what’s truly important to your candidate base. Is it flexible hours? WFH opportunities? Team outings?

Appeal to your market by offering more of what makes them happy.

For an up-to-date comparison, book a free benchmark review.

4. Consider hiring remote workers

The world has shifted and so have candidate expectations. Gone are the days when workers were unable to do their job from home (the last few years have confirmed that they can). So, if the role can operate remotely – use it to your advantage!

Leverage that ability to gain access to candidates that may otherwise be unable (or unwilling) to apply for the role if it was 100% location determined. For many people, the drive for this isn’t laziness but the ease of living. Perhaps they live too far away to consider the role otherwise or have dependants that require them to be closer to home. 

Expand your talent pool by opening the opportunity to remote workers, or consider creating a hybrid model.  

5. Invest in upskilling your workforce

It’s more affordable to upskill and retain existing employees than it is to hire skills (for which employers will always have to pay a premium). It also demonstrates a commitment on your end, which helps to build loyalty and camaraderie with your employees.

Investing in retainment strategies, like upskilling and culture, will always be considered a smart approach to recruitment. Happy employees work harder and more efficiently (and employees who feel invested in are generally happier!). Businesses benefit from the increased knowledge base and productivity. And, long story short, everybody wins! 

6. Invest in a graduate/entry-level candidate

Recruiting smarter, not harder, is about looking and thinking outside the box. Have you considered bringing on a graduate or entry-level candidate? 

After introducing a graduate/entry-level candidate offering to our services in early 2022, we can attest to the success this approach has had and the opportunities it has opened up for businesses.

So much so, that we’ve got some prepared documentation on it! The benefits of hiring a graduate/entry-level candidate

If you’re still looking for more ways to attract and retain quality talent – contact us to book a free, 15-minute recruitment strategy session or benchmark review. Understand your value as a business and learn to market to your dream candidates through an authentic approach.

We take the time to understand your business and will work collaboratively with you to help you reach your hiring goals!