Corporate CPR Episode 43: How to Operate in Tight Labor Markets with Cindy Klein
On today’s show, we discuss how to operate in tight labor markets. We are certainly in what is called a “candidate’s market” right now. How can an organization compete for the best employees?
With over 20 years of experience in digital marketing, Cindy Klein has started her career working for top firms of the industry. After 15 years of experience in recruitment marketing and sales, she eventually became the SVP of Sales for Talent.com, overseeing the whole North American market.
What types of things are important to candidates in today’s market?
- Salary and salary increases
- Health benefits
- Perks like employee referrals, 401K, gym memberships, etc.
- Value alignment. Example – What are you doing for the environment? What types of companies do you partner with? Do you have group efforts for volunteering in the community?
- Culture fit. People want to feel a part of something.
How do you scale while maintaining the “feel” of a startup?
One size does not fit all. Different leadership teams for each country or region helps to maintain a great culture for the area.
What things should companies focus on when trying to compete for the best candidates?
- Branding. Set your company apart when you post a job. What makes you different? Why does someone want to work with you?
- Ease of application. Make the application process easy to navigate so the candidate can find the job they want.
- Response time. Respond the same day they apply. If you wait, you may lose them.
- Follow through. Make sure you are getting an appointment on the calendar right away.
- Interviews. Don’t require more than three interviews. Ideally, you’ll have a one on one interview and then a committee interview so the candidate has a chance to understand the culture.
If a company is reviewing their process, how can they self-diagnose?
Look at the process from when a recruiter gets the applications.
- How long does it take for the recruiter to get through the results, and how are they prioritizing candidates?
- What are the different steps in the process? Are there steps that could be removed? Are there steps that could be done simultaneously to reduce time? Example – background checks/offer letters together
For small to mid-size companies, how do you get known and seen?
Pay per click advertising is affordable. It gives opportunity for mid-market companies to compete. Make sure your job title simple and you have a very strong bulleted job description with relevant keywords for searches.
Where should a company be posting jobs?
Multiple sites. Candidates are likely to visit 8-15 sites to apply for jobs. They may apply for the same job on multiple platforms. Be in front of them multiple times. Examples – Indeed.com, LinkedIn, Talent.com
Top 3 points:
- Shorten the candidate experience. Evaluate the overall application process and see where you can eliminate or combine steps.
- Review your job descriptions and ensure you are posting the key words applicants will search for.
- Look at the candidates coming in for transferable skills. If they aren’t a great fit for the job they applied for, would they be a great fit somewhere else in the organization?