Brightwing’s President Jeff Genovich lays out the best hiring practices for critical talent in today’s market.
Jeff tells us, in times like these when you’re looking to add critical people, the electrical engineering and embedded systems talent, the data scientists and the software developers of the world, the forces are actually aligned AGAINST US right now:
Don’t believe what you hear out there.
It’s actually harder for leaders to hire for critical roles now than it was two years ago. Because critical talent isn’t coming to you and applying on your website, and they’re not going on Indeed and making themselves available.
The fact is, with all these layoffs, these organizations have freed up a lot of budget in order to retain the talent that they depend on.
You need a strong magnet to pull these needles out of the haystack.
Counteroffers are coming in fast, and that is a clear sign that we have a talent shortage on our hands.
Over the course of the last six months, we’ve seen a huge rise in counteroffers, and we’re actually seeing employers paying 15% over market value in this market that we’re currently in today.
Regardless of what we’re hearing in the market right now, there is a scarcity of talent, not a surplus of talent.
And whether you’re working with your internal talent acquisition team or an external agency, they need to work with a greater sense of urgency than they ever have – a greater sense of urgency than they did even two years ago.
With so much more available talent in this market, some recruiters may feel that hiring should actually be easier. They may feel that they would be doing themselves a disservice if they weren’t to go through all the extra resumes that may be flooding their inbox or doing nine extra interviews because the talent is available.
If you’re slowing down the hiring process for critical roles, it’s the wrong strategy.
It’s natural to white knuckle the status quo and worry about change. But if you do that, like everyone else, you’re going to lose out on the opportunity to hire the talent to drive your organization forward, and your talent acquisition process will fail.
Caution should be built into your hiring process. It should look like due diligence. Not like indecision.
Get your hiring process tight, then speed it up. You need a strong recruitment plan in place if you want to land and retain the best talent.
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