Filling job openings is anything but easy and, in this day and age, growing increasingly complicated. Here are the 3 biggest challenges hiring managers are facing.
Not Adapting to the New Job Market
Many hiring managers wrongly assume they are in an employer-based market, meaning employers have the upper hand. However, countless evidence shows that we are currently in a candidate-based market. This means it’s much harder to find candidates as it is for candidates to find jobs.
An example of making this mistake is a hiring manager who takes a month to recruit, interview, and hire a candidate. Job-seekers today are looking for jobs they want instantly, meaning they’ll quickly move on to the next opening if the hiring manager doesn’t get back to them asap. Hiring managers can no longer take their time hiring and need to act quickly or risk losing candidates.
Competition with Corporations and Start-Ups
Smaller businesses have a tough time competing with well-known corporations when it comes to recruiting talent. Job-seekers often trust corporations more than small businesses when it comes to job security. Many enjoy the perceived status of working for a well-known name. Corporations are also able to offer more benefits than smaller businesses like bonuses and stock options.
Interestingly, bigger companies are finding themselves having to compete with start-ups. Start-ups are able to offer more unique benefits than corporations, such as unlimited PTO, the ability to work from home, and very flexible schedules. Start-ups are also able to offer higher salaries as they are not limited to the concrete compensation structure most corporations have.
No Diversity in the Candidate Pool
More and more hiring managers are desperate to employ the diverse staff our culture says businesses are severely lacking. However, recruiters are struggling to find a candidate pool from ethnic minorities, women, and people from underserved backgrounds.
The solution? Recruitment software like Retinent helps hiring managers and employers fill jobs by incentivizing their employees to refer qualified candidates. Contact Retinent for a free demo today.