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How to combat the talent shortage with a smart talent acquisition strategy

According to the US Bureau of Labor Statistics, there are 10 million open jobs in the US currently. But there are only 5 million unemployed people out there to fill these roles...that's a major talent shortage!

One glimmer of hope is that, according to a recent Gallup poll, 33% of employed people out there will look for a new job before the end of 2023...so that talent gap may still be filled.

What can you do to boost your Talent Acquisition strategy?

There are a lot of things you can do to improve your strategy for finding the top talent out there. We are going to focus on three main things you can do. Of course, this isn't an exhaustive list, but focusing on these three tips to boost your talent acquisition strategy will get you ahead of the game.

1. Build your talent pipeline

  • Study your competition to see what they're doing. What's working for them? What's not working for them that you could do to attract candidates to your job openings instead of theirs?
  • Be flexible...try new tools for hiring, new benefits/compensation ideas...
  • Find ways to get in front of job seekers and highlight what makes you different

2. Be flexible with your processes

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  • Have tools in place for when changes are needed. Be ready for anything!
  • Consider an employee referral program so you have access to more candidates-some of your best applicants will come from your employees! Mention your employee referral program and incentives often...keep it in the forefront of their minds.
  • Expand your recruiting area if necessary (especially if your jobs are remote...no need to only hire people within a small radius of your main office.) There might also be people willing to relocate to work for you.
  • If something isn't working, iterate and find something else that will work.
  • Keep the lines of communication between HR and hiring managers open and working so everyone knows what needs are coming.

3. Check-in on your current employees and your company culture to ensure employee retention

  • Analyze your existing teams and see what changes you can make to keep them happy and engaged. Happy employees won't leave your company!
  • Consider compensation/benefit changes if you find you're losing employees to the competition that can offer them more. That doesn't necessarily mean more money...it could me more PTO, employee appreciation days, extra benefits like house cleaning bonuses (we do that here at ApplicantPro and our employees love it!)
  • Keep your leadership involved and accessible. There is nothing more frustrating for employees to feel like they don't have voices or that they are invisible to leadership.
  • Employee surveys help know what your employees are thinking about your processes, management and compensation...send them out every so often so you always know how your employees are feeling.
  • Employee appreciation...make it visible! Thank your employees for their work and do it promptly after they do something above and beyond. The longer you wait, the less impact it'll have.

Following these tips will definitely boost your Talent Acquisition Strategy. A strong talent acquisition strategy will make your hiring so much easier and so much more effective. If you'd like to discuss this further, please click the link below to set up a quick chat!

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