This is a continuation of Part 4. Hence, if you missed it, you can access it through the below link. Recommend reading the previous parts before proceeding below. Let’s continue with the macro reasons why Employers don’t find good candidates
Can’t Hire Good Candidates? This is why (Part 4)
# 10. Do Not Understand / Meet Candidate Expectations
Candidate expectations are one among the top 3 determining factors in recruitment.
Good candidates have clear expectations and they are as important as your expectations towards them. Top candidates are always attracted by challenging roles, attractive compensation package, work life balance, healthy corporate culture, supportive leadership, and opportunity to grow and make a difference. All these, when it fits within the expectations of their career goals.
During the recruitment process, they seriously evaluate your company on the ability to meet their expectations. Changing jobs has a direct impact on the candidate’s life and hence they want to be sure that things move in the right direction. Understanding the expectations of candidates can save a lot of time and make your recruitment efforts smooth.
I have seen many companies do not even bother to ask the expectations of candidates. They spell out the requirements from their side and just go with the one sided “take it or leave it approach”. Even worse, some companies exaggerate as to what they can offer or give misleading information in order to make the company/role more attractive
This kind of approach will not help in attracting top candidates as they might feel that their expectations are not taken into consideration. Candidates like to have a two way interaction and discussion. Hence, recruitment is no more a one-sided game. Candidates decide to take up a job offer only when they feel that their expectations are met and they have a convincing feeling about it. The reality is
Candidates have much more choices than Employers. Hence, Employers have to hone in on the good candidates before they get snatched by competitors
Can your company meet the expectations of top candidates? Candidates not only care about what they can do for you, but also what you can do for them. How do you demonstrate this to candidates?
How is your recruitment process designed to learn of the candidate expectations and meet them? Can your company exceed the expectations of candidates? Is there enough flexibility in your recruitment process and reward system to stay attractive to top talent? Once you make an offer do several candidates pull off citing that their expectations were not met? Do you struggle to meet the expectations of candidates regularly? Do you struggle to attract top candidates with what you offer?
All these undermine your ability to attract good candidates.
# 11. Do not Understand the Talent Market & Competitiveness
Recruitment is a dynamic process. The market is never stagnant. Hence it is important to have a close pulse on the market changes, expectations and practices. In the last one year, recruitment has become fiercely competitive and there is only indication that it is likely to get worse. This is a serious concern at the C-Level. The age old recruitment practices do not hold good anymore. Skills and requirements of the global workforce evolve at a sweeping pace. The talent workforce who develop themselves according to the market needs are very few.
As we all know quality talent is in severe shortage no matter what industry/geography you are in. This has led to unprecedented competition for the best candidates. Hence, understanding what attracts good candidates to your company is a key area to focus.
We constantly need employees with higher skills and capabilities to be able to tackle the increasing complexity, speed and pace of growth. But, find few of them. External Market factors relating to the recruitment industry, skills shortage, education, labour mobility and talent supply all have a major impact.
When your company does not follow and grasp the changes in the market, you tend to get left behind. If you do not understand the market dynamics and expectations, it is going to cause a lot of frustration and vain efforts for your recruiting.
In order to be successful, it is not enough to just have the best recruitment practices and resources from your side, but also need a clear understanding of the market needs / practices / developments / expectations. Employers need to understand what is happening in the market, in their industry, what are the expectations of candidates, what is the level of skill shortage, what are your competitors doing etc.
What is your company doing to understand the market? Who ensure this? How is the market intelligence worked into your recruitment strategies, plans and actions? How do you keep track of the changes in the recruitment trends, candidate expectations, competitor strategies, best practices etc.? Yearly salary surveys are not just enough to plan your competitiveness in the market. Everyday a company or start-up is inventing new ways of netting quality talent and makes you go empty handed in your catch.
Summary
To conclude part 5, the reasons why Employers are not able to hire good candidates are
- Companies do not understand / meet candidate expectations
- Companies do not understand the talent market & competitiveness
To read final part of this series – click here
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