We’re all familiar with talent competitions like American Idol and Dancing with the Stars. But when it comes to staffing your company, there’s a different kind of talent competition afoot—and it doesn’t involve singing or dancing. In a post-pandemic world, there’s a hiring race for competitive advantage, and if you don’t have a deep understanding of what candidates are seeking in their next position, you’ll likely miss out.
Executives and HR departments are struggling to staff, with 69% of employers struggling to fill positions, according to ManpowerGroup—and even that number seems low. It seems you can’t throw a rock without coming across the next piece talking about this “competition,” and while you won’t necessarily get “voted off,” businesses are paying the price.
After learning the perks of working flexible hours, remotely (or hybrid), and getting added benefits, potential hires are not only seeing their value—they’re enforcing it by being more selective with where they choose to work. The result: HR departments and staffing agencies have to be more tactical in today’s talent market.
One surefire way to access more talent is to consider contract employees. Contractors have seen it all, especially in tech. If you need someone to join your project and don’t have the time or resources to train them, an experienced contractor can ramp up quickly. You’ll get a resource in the door faster who will hit the ground running, adding immediate value to the team.
Technical talent is in high demand now more than ever. Companies are making record-breaking investments in digital transformation this year, up 65% from 2020. So if you want your digital investment strategy to reach higher returns, it all comes down to transforming operations, moving digital efforts forward, and showing results.
While initially in the late 1990s, the competition for talent intensified because of demographic shifts, nowadays it has been exasperated due to the mass layoffs and furloughs brought on by the pandemic.
The Great Resignation is still happening. The priorities of workers have changed, and as employers, you have to pivot and adapt to get the best candidates to apply—those purple squirrels are out there.
But what’s the best way to win in today’s talent market? Improving your hiring process and efficiency is a start. We see organizations constantly losing candidate engagement due to a tedious hiring process.
Our vice president of business development, Dave Paglia, suggests putting people first. “They are the core and life of all highly successful businesses,” he mentions. Paglia recommends defining what’s really needed for the role and offering flexibility where feasible.