Few companies were in a position to take advantage of the new labor landscape in the earliest stages of the pandemic, but as companies learn to conduct business safely and economic activity slowly resumes, employers are beginning to hire once again.
Over the past few years, recruiters have gotten used to hiring in a job seeker’s market. Unemployment had reached historically low levels, and skilled active candidates were in short supply. So, recruiters learned to adapt. They targeted passive candidates, invested in the candidate experience, and amplified their employer branding efforts to reach as broad an audience as possible.
Few companies were in a position to take advantage of the new labor landscape in the earliest stages of the pandemic, but as companies learn to conduct business safely and economic activity slowly resumes, employers are beginning to hire once again. Unfortunately, the recruitment best practices they’ve honed over recent years won’t be of much use. Those strategies were designed to surface talent in scarce times, but employers face a totally different problem now: Simply put, there are too many candidates to choose from.
About This Report
The New Rules of Recruiting
In an employer’s market, recruiters need to play by a new set of rules if they want to successfully source and hire skilled active candidates. Here’s what they need to know — and do — to succeed.
Overall, the shift to an employer’s market is good news for recruiters. They have the upper hand when it comes to negotiating with candidates, and they also have a wider variety of options to choose from. As an added bonus, active candidates also tend to be more cost-effective to recruit and more committed to their roles.
If they want to make the most of this new environment, however, recruiters have to rethink how they source, engage, and hire candidates. In a job seeker’s market, recruiters learned to focus on passive candidates. That made sense in a world where qualified talent was rarely active on the market, but today, plenty of skilled professionals are hitting the job boards.
More importantly, because it’s an employer’s market, it will be a lot harder to convince those high-performing professionals who are currently employed to take a new job. Few want to venture into the unknown amid all this chaos. The biggest change recruiters have to make to their talent strategies today is a change of focus, from passive candidates to active talent. In broad terms, that means targeting your outreach to cut through the noise, catching the attention of the right candidates, and streamlining the screening process to handle higher volumes of applicants. In an employer’s market, recruiters need to play by a new set of rules if they want to successfully source and hire skilled active candidates.
Freshteam, a part of the Freshworks product portfolio, is smart HR software that has helped recruiters around the world adapt to the new realities of remote work and an employer’s market. Freshteam is intuitive, affordable, and easy to use — a perfect fit for growing businesses with its plethora of intelligent functionalities.
Freshteam is an ATS that takes care of the entire hiring process from end to end and helps automate mundane recruiting tasks. Manage sourcing, recruiting, interviewing, metrics, onboarding, time off, and employee information, all in one place. 4500+ businesses around the globe have transformed how their recruiters function by implementing Freshteam as their smart HR assistant.