So let’s be real – hiring is important. If you don’t find the right talent to fill a position, work that you need done will have no one to do it. But the labor market is tightening, and those crucial positions are continuing to go unfilled. The average time-to-fill for jobs in all U.S. industries is rising: for large global companies it increased by 62 percent from 2010-2015. That’s why we wrote this blog, we did the research so you don’t have to: here are our top tips for recruitment in a tight labor market.
You’re going to have to take recruitment seriously. What better time than the new year to start thinking of some new strategies? Here are some tips for recruitment you should know as you begin revamping your 2017 hiring mindset.
1. Early is better! If you don’t fill a position quickly, chances are it’s going to be a hassle for you. Indeed.com identified a tipping point at around 30 days of vacancy – that is, if you don’t fill that job in a month it’s probably going to be more than three months of nobody working for you. Get your brand out as early as possible, you’d rather have people wanting a position when nothing’s available than the other way around.
2. Network yourself. 85% of jobs today are filled through networking, according to a 2016 survey by LinkedIn. Find a way to make the position stand out as an attractive offer to anyone, and then get it networked as broadly as possible. Word of mouth is your best tool as an employer – be willing to forgo a formally publicized application process and instead try first to fill positions by considering people in contact with your company or employees through the backdoor.
3. Go Low Commitment. Contract staffing is becoming a more popular search and isn’t a bad idea for a long-term recruiting strategy either – it allows you to address temporary needs quickly, and the more people who’ve spent time working for you (and enjoyed it) the broader your network will be.
4. People Don’t Want to Move. Don’t look too far for new employees – they might not come. Only a third of employed adults would even consider relocation for a new job, and that’s even more true of those unemployed (15%). And if you really can’t find what you need locally, things will get expensive. Among that third who would consider, pay and benefits are the deciding factors.
5. Develop your talent. Experience is getting harder to find, and even harder to convince to transfer. Think about hiring for traits and motivators – if someone has the right personality and the skills to fit the job, that experience is something they can get with you. More and more companies are focusing on internal development as a solution to their tight labor market woes.
6. Publicize what you offer. 65% of adults say that starting pay is the most important factor in considering a change of jobs, but retention is being driven more by work-life balance (49%) than anything else. More people value schedule flexibility in their current positions than wage potential, so if working for you is a great life style in addition to a great opportunity make sure the world knows!
7. Use technology. People use company websites to find information, so make sure yours looks good! But those using the web to search say the most helpful resources are job board websites like CareerBuilder, Indeed, and LinkedIn. Potential employees like the ease of getting their resume out there, so make sure you’re taking advantage.
8. Get help. You’re going to need to fill positions quickly, but don’t take unnecessary risks. In a previous blog we noted how a single bad hire could be disastrous for your organization. Don’t rush a process that you don’t have the time or resources to do well, there are other options. 42% of people seeking jobs go through a staffing or recruiting company, a trend that’s been steadily rising in recent years. As labor shortages rise and positions go unfilled, take advantage of this trend and get help from the people who know how to find the talent you need.
There is a shortage of talent in the life science industry, and it’s growing. In order to compete in such an innovative and progressing field, you will need to make sure recruiting the talent you need is a priority. That’s why we took the initiative to compile these tips for recruitment, to equip you to level up your business. If you don’t have the time or resources necessary to effectively recruit the best, hire someone who can.
Talencio has been the preferred provider of vetted, accomplished professionals to the Life Sciences community for over nine years. To learn more about how other medical device, bio-pharma, health IT and healthcare companies have partnered with us and tapped into our skilled professional talent pool, contact us at 612.703.4236 or email.
Written by: Jordan Hughes, Talencio intern and student at Washington University in St. Louis, St. Louis, MO.