We've been hearing about it throughout the pandemic, and it's a reality: The Great Resignation. Employees worldwide are rethinking their personal career goals and aspirations, and how their organization is aligned to their values. As a result, we are seeing significant movement in the labor market including early retirements, radical career moves and top talent being approached with new opportunities. As a seasoned executive search professional, I've pulled together some simple tips to help leaders and HR professionals navigate our current labor market and attract new talent to their organization.
1. Communicate, communicate, communicate
Stay engaged with your candidates at all stages of the recruitment process. Acknowledge applications, let candidates know how long you expect the process to take and touch base if it's taking longer than expected. Great recruitment is grounded in building relationships and strong communication with your candidate pool.
2. Ask candidates the questions you really want to know the answers to
Here are some of my personal favorites:
- On a scale of 1 to 10, what's your level of interest in this role?
- What information do you require that will raise your interest to a 10?
- What other irons do you have in the fire and how far along are they in the process?
- Will you let me know before you accept another offer?
3. Don't be afraid to improvise when you identify key talent
You may have a closing date on a job position that is two weeks out, but you have an exceptional candidate who is interested and engaged. Trust your gut. Arrange a coffee with the hiring manager to keep the candidate excited about the role and don't be bound by artificial timelines. The same holds true for a late applicant.
4. Remember that inflation and the talent market are putting pressure on compensation
Before you go to market, ensure that you're clear in your compensation range. Determine if you plan to stand firm with your compensation model to maintain internal equity, or if the role is one that you're willing to stretch for. Sticking firm with the decision you made before going to market makes for a much smoother process when it comes time to make an offer.
5. Know what your candidate values
If you've built a relationship with your candidate and maintained frequent contact, you have a better chance of knowing what the candidate values when it comes time to make an offer. For some people, five weeks of vacation is worth being flexible on salary. For others, a great leadership development program may be the differentiator. Know ahead of the negotiation what will be the hook for your candidate.
6. Be solutions oriented
If you can't get the great candidate you want to the table or if your offer has been rejected, my other favorite question to ask is "Under what circumstances could this position work for you?"
Maybe the answer is nothing you can help with, but you will never know unless you ask. For example, we once had a great leader who didn't think they could relocate because their mother was in a supportive living facility with memory care. Our team did a little bit of research and found a great facility right beside the new employer with a highly regarded memory care program; so, when the candidate came for interviews, we arranged a tour — and that was what tipped the decision for them to take the role.
7. Don't lose momentum with references
Start your references the moment you get the first name and contact information. Recently, a candidate was being considered for two energy sector roles and expected an offer from both companies. This candidate ended up starting with one employer by the time the second employer got around to finishing the references. Plan to have references completed in two to three business days, and if you can't reach them, ask for more names. If you don't act swiftly, you may lose out.