Navigating the recruiting field can sometimes be difficult. The world of recruitment can be a minefield but it’s also very rewarding.
Recruiters, employers, and candidates alike often hear the term ‘candidate-driven market.’
But what exactly does this mean?
What is a candidate-driven market?
A candidate-driven market is exactly what it sounds like. It can only be described as a hiring market that is driven by candidates. This refers to a job market in which candidates have the upper hand over employers. In a candidate-driven market, jobs are plentiful but suitable candidates are not.
In this type of market, employers will compete for the top talent within their industries. As a result, this creates a rise in competitive salaries, better bonuses, and other negotiables to attract higher-tier candidates.
What can you do as a hiring manager to assist your recruiter in a candidate-driven market?
Consider the candidate user experience
If a company wishes to hire a top-tier candidate, they need to consider the candidate experience.
When looking to fill a position, it’s important to consider the application process, timings, and what your company offers.
Top talent candidates will be presented with a variety of job opportunities. You need to utilise your brand to make your company stand out.
The application process should be as smooth and as easy as possible. Laborious and complicated application processes will cause a candidate to drop off at the first hurdle. It’s not always set in stone that a candidate will receive a response, or a company will provide feedback. With a multitude of jobs available, it is easy for a candidate to disregard your company at this point and move on to a simpler application process.
Be decisive and quickly!
We understand it takes time to choose the right candidate to fit your business. However, you need to make sure not to take too much time.
It’s important to keep in mind that your company may not be the only job a candidate has applied for.
While you’re mulling over the few suitable candidates you had, you could lose out on a top-tier candidate to another company.
In the current job climate, a lot of companies have adopted hybrid working. Job seekers have become accustomed to the flexibility this offers and this could be a dealbreaker for some candidates.
This is not to say you must allow your employees to work from home 5 days a week. However, presenting your employees with a more flexible schedule is seen as a benefit by a lot of candidates.
A candidate-driven market is competitive. This means increasing salaries and adding benefits is more likely to attract those top-tier candidates.
Utilise your brand values and company culture
Company culture and brand values is one of the biggest considerations for candidates when undergoing a new job search.
It is likely a candidate will not accept a job offer if the company values do not align with their own.
The newer generation is likely to research if a brand is inclusive, eco-friendly, or socially engaged. They will be more inclined to accept an offer if a company shares their values as this creates a sense of community.
If a company has received negative feedback from past employees, new candidates are unlikely to accept a job offer. Company culture is so important, and candidates do not want to work for a company that doesn’t care about its employees.
What can you do as a candidate to assist your recruiter in a candidate-driven market?
As mentioned above, a candidate has the upper hand in a candidate-driven market. However, there are still some things you can do to assist your recruiter.
Be Transparent with your recruiter
One of the biggest things you can do to assist your recruiter is, to be honest with them.
A recruiter is there to help you and it would assist them more to know exactly how you’re feeling.
Don’t be frightened to tell them if a company wasn’t for you. This will only further their knowledge of what you’re looking for and how they can help.
Ghosting comes across as unprofessional and could result in a negative reputation for both you and your recruiter.
It is much more useful to provide a company with feedback as to why you have decided to go another way.
Are you in search of a recruitment agency?
Here at Careersolve, our goal is simply to provide the best possible service to our clients and candidates alike, communicating with both, every step of the way.
We are transparent in our approach and always aim to exceed expectations!
Alternatively, visit our website for more information!