How Should Employers Respond to a Changing Job Market?

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Expectations Have Changed. How Are Employers Responding?

As the world still grapples with navigating another wave in the pandemic waters, recruiters and more importantly employers wonder if they will be able to attract and retain quality talent. While some industries have been able to find steady waters, some are still struggling to find the right mix of candidates to keep their businesses going, especially in service industries.

The latest data from the U.S. Department of Labor shows there are approximately 4.2 million fewer workers in the labor force compared to just prior to the pandemic. Labor force participation today is lower than at any time in the past 20 years.

How employers should respond

There is a myriad of avenues an employer can take to make their place of work attractive and more importantly, competitive to the 2022 job candidate.

Offer Perks That Standout

If you are in an industry that requires in-person or on-site staff, consider higher education or accreditation courses that are offered on the company’s dime. Candidates want to feel that they can grow with a company and that their time is valued. Show them you care by having a dedicated Learning and Development program.
Support flexible workstyles. If you can offer remote working or even reduced in-office hours, you will be able to attract quality candidates. In situations where this is not possible, consider creating an environment that promotes a healthy work life balance, like on-site childcare services, mental health days, or free lunches.

Diversity and Inclusion

In our recent blog, Five Reasons D&I is Important for Business, we discuss how diverse and inclusive organizations earn trust and commitment from their employees. Conversely, when people feel that their ideas and contributions aren’t truly valued or taken seriously by their organization, they leave or drop out of the application process.
For the first time in history, there are five generations in the workplace. How are you telling your story? Companies should have a dedicated D&I page on their website and should showcase their efforts for an inclusive environment on their social media and other external channels. Show, don’t just tell.

Move Quickly

Often, the interview process can be arduous but in today’s market, candidates are interviewing with multiple opportunities at the table.
Create a comprehensive but optimized interview process that does not waste yours or the candidates’ time.
Set expectations at the start of the interview process so candidates know what they are in for. A general rule of thumb is that an interview process should take no more than three weeks from start to finish.

It is a well-known fact that the pandemic was a catalyst for changing the old way of doing things and there is no time like the present to pivot and listen to what candidates are looking for in an employer.

Contact Investis Digital

Ready to maximize digital recruitment to win hearts and brilliant minds for your company? Learn about our HR & Talent Acquisition solutions and connect with us, here.