A young workforce and a strong economy are making hiring the best employees a challenge for companies today. Nearly 35% of employers report increased turnover and over two-thirds say they’re struggling to find proven talent. Interestingly, nearly 60% of young job seekers are on the lookout for employers that share their core values. It seems there could be a discrepancy between what candidates are looking for and what employers are pitching. Could it be that too many companies have a short-sighted view of the hiring process, relying on a “hiring the best takes being the best” mentality?
With a hiring philosophy like that, many employers are missing the most crucial part of the process. Hiring the best workers doesn’t take “being the best” – it takes “being the best for a particular employee.”
Companies can boost their engagement with candidates by making transparent, holistic value communication a part of the recruiting process. Communicating values candidates respond to, not ones they feel set them apart as an employer, goes a long way in taking employee recruitment beyond a process and into a lasting relationship. Here are a few ways companies can accomplish this:
Give Recruitment a Brain of its Own
Hiring the best candidates would be a lot easier if recruiters could just read the minds of potential hires to see what it would take for them to come on board. A total compensation software solution with on-demand technology and built-in analytics may give HR professionals the insight that does the trick. With analysis and reporting on when candidates access the portal, how many times they do it, and on which pages they spend the most time, companies can get an inside look at what motivates their potential hires. Not to mention, it gives employers a valuable leg up over competitors in hiring the best talent.
Tailor-Fit Company Benefits to the Candidate
Benefit programs are only as valuable as they are relevant to the potential hire. Instead of using an extended interview process to hash out their companies various benefit programs, recruiters can use a purpose-built software platform to let candidates explore the rewards that are most relevant to them. On-demand technology enables candidates to adjust the calculation logic of their rewards statements to create a model their compensation package based on their unique situation and lifestyle.
HR professionals can match candidates with the perfect benefit package as well. Using custom settings, they can create benefit statements that only highlight the programs a candidate is eligible for, including non-monetary programs like career advancement opportunities, health and wellness, and work-life balance.
Illustrate the Company Brand
If more than half of young candidates are looking for an employer that shares their personal values, wouldn’t it be beneficial for a company to wear its values on its sleeve? The right total rewards software solution enables companies to do just that. Through custom design and content settings, companies will be able to share their vision with candidates upfront, allowing them to match their values with those of a potential employer.
Beat Competitors to Talent Today
It’s true that hiring the best employees is a sales process, but a competitive job market means employers are the salesman, not the recruits. With this in mind, companies should gain as many advantages as they can in attracting and engaging talent. Transparent value communication during the hiring process is a great place to start.