How Do Employers Compete In A Job-Seeker-Controlled Market?
Employers are struggling to fill open positions. They complain that they cannot find people with the required skills or experience.
By all accounts, the current environment is pretty much a job-seekers market. And many people are taking advantage of this situation, leaving their current positions in search of something better. Employers are left struggling to hang on to their talent.
Indeed, statistics show that the number of people leaving their jobs has increased. As a result, employers need to be ready to fill even more jobs as openings are growing faster than current job seekers, including new graduates, can fill them.
This presents a novel situation for employers, who as of recently had the luxury of picking and choosing among several different candidates for one position. Now the reverse is true– there are more openings than people to fill them. Candidates can afford to be more selective in the jobs they consider as the balance of power has shifted.
As the labor market grows ever tighter, employers have increased wages to attract more people.
Employers essentially have two courses of action in a competitive market – raising wages or proving how they are different from other companies.
Raising wages can be a chancy move for companies depending on their financial situation and may not be something they can adhere to in the long run. That leaves option two, setting your company apart from all the others.
To do this, you need to establish your brand. Begin by asking why a person would want to work at your company. If it comes down to just compensation and benefits, it’s unlikely that these are appreciably different from all of your competitors. That means you need to find new ways to attract candidates and sell your company as a unique place to work.
How to sell your company
- Establish exactly what makes your company different from others.
- Confer with your workers. Review employee comments during exit interviews and feedback from new employees during the onboarding process. Use these comments to help determine why people stay at your company, what they like about the company, and conversely, what causes them to leave the company. Work to improve the positive aspects and address the negative ones.
- Look at your career site online. Does it effectively communicate your brand and speak to the kinds of people you are trying to attract?
- Take action on these things as quickly as you can to get a jump on your competition.
Find Qualified, Reliable People with G.A. Rogers
If your company is looking for qualified, reliable people, G.A. Rogers can provide them. We thoroughly screen all of our job candidates to ensure they have the skills and experience you need, and that they will be a good fit for your company. Give us a call today.