According to the ABS, the unemployment rate of 5.0% for September 2018 is the lowest rate of unemployment since 2012. Given that we are very much experiencing a candidate market, what are some strategies that recruiters and employers can implement to fill labour gaps?
- Applying a flexible staffing approach
Many companies are open to employing temporary or contract workers in their business. In fact, 8 out of 10 employers (78%) believe that contract workers are an advantage to them as candidates can benefit from both flexibility and some level of job security. 76% of employers feel that hiring a combination of both permanent and temporary staff is vital to their department or organisation as it enables them to scale up or down quickly without impacting full time equivalent (FTE) headcount. David Morris from Robert Half feels that an additional benefit is having access to a much larger pool of skilled talent in a candidate short market.
- Tapping into the passive candidate market
Many potential candidates for your business may not necessarily be in the market for a new job (the passive candidate market) but that doesn’t mean they might not be tempted by a great offer. We’ve found LinkedIn to be an excellent tool for sourcing suitable candidates who aren’t applying for roles. LinkedIn is also a great tool for screening candidates – checking whether they have skills to match your role. In order to use LinkedIn for recruitment effectively, you need to do the following:
- Keep your company page up-to-date and relevant and has a strong value proposition aimed at the market
- Encourage your staff to set up their LinkedIn profiles which link through to your company page
- Advertise any available roles on your company page and encourage your staff to share them to their networks
- Determine the essential skills that are required for the role and use the search function of LinkedIn to explore suitable candidates who may be your 1st, 2nd or 3rd connections
- Tap into your existing contacts
Your existing network is a great way to not only build your own business but to source staff that are a great fit for your culture. If you are looking to recruit, speak to your team about who they may know that may be a good fit. Some organisations also offer incentive schemes for staff that bring suitable candidates on board.