Record low unemployment has given way to a new kind of job hunt. It’s called job shopping, and it changes the way hiring managers approach key talent.
It also changes the way candidates make decisions about opportunities and positions. They are comfortable in their current roles, yet they are happy to look for new opportunities.
Not Passive, Not Active; Just Shopping
Generally, there are two types of candidates: active and passive. Active candidates and currently looking for a new role and passive candidates are currently content with their employment but are listening to offers. Both groups come with specific challenges and best practices.
Job shoppers are somewhere in between the two. They’re actively looking at positions, but they are content with their employment. Because the job market currently favors candidates, they know that they can test the waters while maintaining their selectivity and negotiating leverage.
A recent survey found that 70% of workers said jobs are easier to find now than five years ago. The report surveyed more than 1,100 workers and analyzed the effects of low unemployment rates on the workplace. Low unemployment led 71% of baby boomers to feel optimistic about job outlook, while it prompted almost half of the millennials surveyed to view this job market as an opportunity to find new employment.
When you begin a talent search, make sure to take job shoppers into account, while they are great candidates, you will have to change your focus and approach to winning them over.
Right Now, They Hold the Power
The fact of the matter is that in the current employment landscape the candidates hold the bargaining power. Depending on their skills and experience, they may be in high demand. This allows them to be picky about where they go, holding out for better compensation, benefits, and perks.
However, it isn’t all about the perks. For job shoppers, the way they are treated during the hiring process, as well as their overall experience with a hiring manager, is crucial in their decision-making process. Recent research found that 95 percent of job seekers agree that how a prospective employer treats them as a candidate reflects how they will be treated as an employee. The survey also found that 67 percent of employed American adults would decide whether to take a job based on the application, interview, or offer process.
The candidates have spoken, are you listening? Even if you offer competitive compensation or great perks, you could be overlooked if your hiring process isn’t driving a great experience. Take the time to update and improve your methods.
Make Things Easy for Them
Who among us prefers the hard way? For job shoppers, while they are looking at prospects, you must overcome the barriers of starting a new position. Change takes work and asking someone to leave a comfortable position to join your team is a big undertaking. Make sure you are optimizing your methods to make the hiring process easy for applicants.
For many staffing professionals and hiring managers, the answer has been new technology. Keeping consistent and open communications can go a long way to simplifying hiring. It also alleviates the stress on your schedule.
A human recruiter, likely to be juggling various tasks, can’t always give their full attention to every single potential candidate. Chatbots can handle the introductory stage. They can be used to automate the top of funnel interactions, ensuring that each candidate gets timely, personalized responses at each stage of the recruitment process.
At Ingenium, our team of experts are dedicated to finding you the best talent available. We reach active and passive candidates, as well as job shoppers to ensure you the best hire. Contact us today to learn more.
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