In a 4% labor market, we are all candidate starved. Last month, the Bureau of Labor Statistics reported there were 7.4 million job openings with a hire rate of 5.9 million, falling far short of fulfilling all the roles available. For the first time in two decades, the U.S. economy simply doesn’t have enough workers. This is across all categories, from STEM to blue-collar skilled workers. We are no longer struggling just to find computer software engineers; Vox reports home health aides, restaurant workers, and hotel staff are highly in demand.
With so many challenges facing recruiters seeking new talent, sourcing and nurturing the passive job candidate is a necessity. In this article, we’ll share four of our best tips for finding more placements by nurturing the candidate that hasn’t even applied to the job yet.
Tip 1: Mine Your Database
This step is so often forgotten in the flurry to find new talent. Before placing an ad, take a close look at candidates that have applied in the past but didn’t make the cut. If you’re currently using an applicant tracking system, search your existing databases for candidates. Then reach out to them to personally invite them to reapply for the new role. This process could potentially save you time spent soliciting new relationships and screening job applicants.
Tip 2: Ask a Friend
Next, set up a candidate referral program with your existing employees and ask them who they know. Chances are you will be pleasantly surprised by the response, particularly if you pay a bonus to the referring party. This process shifts some of the burdens from the recruiting team and instead seeks to leverage existing relationships within the company itself. Keep in mind studies show that referred candidates are retained longer than other types of hires.
Tip 3: Work Social Networks
Use your connections on social media to reach out to a particular talent pool. You can do this in many ways, including:
- Using Boolean search to find the perfect candidates then email them to invite them to apply.
- Posting positive messages about company culture to entice targeted candidates.
- Join and start to leverage specialized networking groups, such as developer Meetup groups or LinkedIn groups to begin building a candidate pipeline.
- Help others more than you ask for help. All relationships are a two-way street.
One important tip to consider when leveraging social networks is that, even when you’re not hiring, you should continue to build your connections. The benefit is that down the road if a new position opens, you may have the person in your network that’s the perfect fit.
Tip 4: Use Software to Improve the Process
Having the right tool for every job is particularly important during the hunt for talent. Most of us have very little time to waste on duplicate processes or in the hunt for information. Having sophisticated software available that does more than store candidate resumes can help hiring teams speed up the time between sourcing and hiring. These tools can automate the tedious process of candidate sourcing while helping streamline basic processes. The right software can help employees coordinate candidate nurturing, and manage clients, candidates and all the other data associated with the recruiting process. Software like Exelare can lessen data entry, improve search, and integrate with other tools to improve the recruiting process.