June 28, 2021, by Tam Campbell Trant | Recruitment
The labour market is always changing so it is important for employers to be aware of those changes so they can make appropriate changes to their recruiting strategies. Last year, job postings would typically garner hundreds of applications. Now, application rates have waned over the past few months, no matter the role. For example, according to one of our sources in the recruitment field, the job board Indeed is finding there is more employer competition and fewer job seekers on its site. What’s more, those job seekers are becoming more passive – they are looking but they are not necessarily applying.
What does all of this mean for employers? Overall, it’s a super competitive job market and a challenge for anyone trying to fill a vacancy. In this market, it’s not enough to simply post a position on one job board and sit back to wait for candidates. Employers now need to woo applicants, give additional information to pique their interest and convince both active and passive candidates to join their company.
Tips to increasing your application rates:
1) Post to as many sources as your budget will allow to attract candidates from across various channels.
2) Ensure you have the following information included in your job posting:
These details are the bare essentials that job seekers require to assess whether they want to leave a current position.
3) Ensure your job posting goes above and beyond by giving job seekers the “why” – in other words, the other details that will sweeten the pot. Include some or all of these additional elements to further attract talent:
The “why” should entice someone to join your company, explain what’s in it for them, and sway them to leave their current employer.
Speed up your hiring pace!
Finally, now that you have your applicants it is absolutely essential that you streamline and speed up your recruiting process. Those candidates who are active in the job market are getting scooped up quickly. Arrange your video or onsite interviews early in the week, reduce the number of interviews with internal teams by consolidating as much as possible, and finally, make your hiring decisions more quickly. Otherwise, before you know it, you will lose your first choice of candidate and be back at the drawing board.
It is a tough labour market out there. By implementing these tips, employers will ensure they are not only attracting applicants, but will have a better chance at landing the talent they need.
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