Even in the toughest times of 2009, white collar – college educated employees had an unemployment rate around 4%. That is virtually no unemployment as before the “dot bomb” era.
There are several reasons that make it near impossible to find great people even in “this economy”.
Housing: Let’s face it, if the candidate purchased and house in the last 5 years or so, they are underwater and will need to bring money to the closing table. Is your firm prepared to pony up real relocation costs (not just pack and ship).
The devil you know vs. the devil you don’t. Many good employees consider it to be a major risk to move to a new firm if they are with a stable and well known firm.
Unreasonable offers – most employers believe that they can get talent on the cheap now. Not true! It still takes a minimum of a 15% increase to recruit a passive candidate and 5%-10% for an unemployed candidate. This needs to happen to keep it hard from hiring talent.
Supply vs. demand – baby boomers are retiring and the next generation (Y generation) are just getting their first jobs and apartments. There is and will be a huge gap for years to come.
Benefits – You cannot attract a passive employed candidate to an opportunity where they have to wait 90 days for health benefits. My suggestion is cover COBRA. Large deductibles and poor employer contribution rates will hinder hiring efforts.Watch movie online The Transporter Refueled (2015)
Interview process – the majority of firms I speak to have a terrible process. Timing: If your firm can’t make a decision in 2 weeks after interviewing 3 candidates…it shows how other decisions will be made. Get a process that takes 2 or fewer weeks. Candidates expire after that or get placed elsewhere.
Selling the company – Once a candidate is selected, be sure to sell them. These are not applicants that need a job!
Title – however silly it may sound, titles are free. Just compare Sales Representative to Regional Sales Manager or Business Development Manager. TITLES SELL!