Hiring Talent in a Tight Labor Market

According to the US Bureau of Labor, for every job seeking American there are currently 1.8 positions available for hire. With statistics like that, it is more important than ever that companies find ways to differentiate themselves with potential candidates.

But what can your company do to stand out?

Amy Roberts, Executive Vice President and Chief Human Resources Officer at PeoplesBank suggests focusing your efforts on things like employer brand and benefits, candidate engagement and communication.

Create and highlight your employer brand and benefits

An employer brand includes company culture and values, work environment, company policies/practices and benefits as well as growth and development opportunities. When creating your brand ask yourself:

• What is our culture?
• What is the culture that we aspire to have?
• What benefits could we offer to be a more attractive employer in the region?
• How will we communicate our Employer Value Proposition?

While having a “Cadillac” healthcare plan and a competitive 401(k) can appeal to many candidates, you can also appeal to talent by offering customized benefits that don’t break the bank. Start by considering benefits that might appeal specifically to your employees. Perhaps a majority are fitness freaks, juggling work life with their next spin class. You could partner with a local gym and offer a discounted monthly membership to keep them happy. You may also want to consider offering work location flexibility, tuition assistance and wellness programs; or even CSA pick up and onsite convenience services such as dry cleaning and car detailing.

Engage with candidates

Finding ways to engage with potential candidates is crucial. Utilize traditional resources such as your company career page and LinkedIn, to get job postings out there for candidates to see. Make sure that your job descriptions have an elevator pitch type summary, focus on the skills needed by the worker and not just a degree, and also consider posting the salary range. Pay transparency can certainly differentiate you from other organizations that do not have this practice.

But don’t limit yourselves to traditional resources alone.

Social media is a great way to get candidates engaged once you have established a following. You can:

• Post positions in a fun way
• Have existing employees help define what it is like working on your team
• Have your hiring manager post the position on their own LinkedIn Profile and write a personal message to go with it

You have found your perfect candidate, so what is next?

Communicate!

Once you have found your candidate be sure to make your offer quickly. The longer you wait, the more chance there is that someone else will scoop them up.

And don’t let the communication stop once your candidate is hired. Make sure to establish a 30-60-90 day check in process and follow through with it. Checking in will make your employees feel appreciated and engaged and can help to solidify your standing as an employer of choice; bringing you more success down the line when these employees share the positives of working for your company with their contacts.

PeoplesBank works with local businesses, big and small. We believe local businesses fuel growth in our surrounding cities and towns. For more information on how PeoplesBank can help your business, contact one of our Business Bankers or Cash Management Officers.