By Jessica Meglio
Senior Recruiter, Turning the Corner, LLC
Unemployment is at an all-time low. In Colorado, the unemployment rate is at a staggering 2.3%, the lowest we’ve seen in a very long time. As a recruiter in the Boulder and Denver areas I understand the challenge of finding the best people even during the good times. As an employer trying to hire top talent it can be a bit frustrating at times, but we know what to do.
A Different State of Mind
It is no longer an employer’s market. It is unlikely that you will have quality candidates banging down your door as you may have experienced before. Our clients in Boulder and Denver have remarked that it hasn’t been this hard to find and recruit new employees in a very long time. In fact, areas states like Washington are experiencing the same problems as we are here in Colorado as this article shows.
In Denver, Boulder and Northern Colorado, the best employees are already safely secured in a position. Posting a job on LinkedIn and relying on applicants to come to you just won’t cut it in this market. Sure, you may get a viable candidate or two via a job post but remember when unemployment is low, there are not many candidates looking, and the ones who are leveraging their new found negotiating power.
So what can you do to attract top talent in a highly competitive market?
Use a Recruiter
Your next hire is not hanging out on the job boards. Your next hire is happily and securely employed. You will likely need to passively recruit your next hire from their current position. Sourcing passive (employed) candidates is what great recruiting companies do day in and day out. Recruiters bring a unique skill set to the table that target passive candidates. We use social media platforms, various networking avenues, and often already have a great pipeline of candidates. We also have industry resources and other avenues that you as an employer doesn’t have the time or connections to access.
Furthermore, good recruiting companies will help guide you and set realistic expectations. We are constantly assessing industry trends and know to consider various factors such as: salary, skill set, and the supply and demand of the position. Often times, we will show what skill sets you can obtain at different price points – providing a way to strategically hire to meet the needs of your organization while still being attractive to prospective candidates.
Flexibility is Key!
Remember that last house you bought? I imagine you had a lengthy list of “must haves”. You wanted the large back yard, vaulted ceilings, walk in closet, gourmet kitchen, open concept, a 2-car garage, move in ready, and of course, only 10 minutes from work. I’m also inclined to think you probably had to compromise a thing or two on your “must have” list. You may have had to extend your commute to work or deal with a smaller backyard. Or you found the perfect house but the kitchen has to be remodeled.
Finding the “perfect” candidate can draw on many parallels of house hunting. It may be wise to hire someone who checks off most of your “requirements” but needs training in a software system used by your company. Or perhaps you need a highly skilled applicant but can only pay a mid-range salary. What other unique benefits can you offer? Flexible schedule? Work from home? Extra paid vacation? Recruiters are skilled at presenting candidates that may be slightly outside of the perfect box – but can end up being the perfect match if you remain somewhat flexible.
Hiring for Success
Overall, hiring top talent is essential to a company’s success. Skimping on the hiring process will likely lead to inefficiencies and costly mistakes. Hiring in an extremely competitive market can be a daunting task. Leveraging the right recruiter will help you navigate the nuances of an “up” economy to land you the perfect employee.
For more information about our recruiting services visit TurningTheCornerLLC.com/services/recruiting/ or call us today at 720.446.8876.