Keeping up with economic trends on a normal day can be exhausting, but these days, it’s even harder to keep track. Employers are struggling to understand what every market indicator means, but we’re here to help. How can you be an attractive employer and retain your top talent today?
We spend every day in the thick of the job market, so we know what employers are doing right—and what they need to adapt. We’ve seen talented candidates get hired quickly, and we’ve seen companies struggle to hire someone who’s the right fit. With all of this insight, we want to share it with you. We asked Dave Muller, Executive Vice President of Tandym Tech and Cheri Eisen, Executive Vice President of Tandym Pro to tell you what you need to know.
Get away from the COVID talk
As Cheri sees it, we’re stuck in a COVID mentality. Regardless of the cause, the cultural shift that has happened is here to stay. “We keep hearing pre-COVID/post-COVID—the reality is that we are in a new world,” explains Cheri. “The workforce wants flexibility because it makes them more productive and loyal. Talk to your employees and ask what keeps them around. Then, make sure you give it to them.”
You might call it a hiring ‘frost’
Because employers have struggled in hiring for so long, they still need to hire key positions. While market indicators might suggest that a hiring slowdown is coming, employers aren’t quite resorting to a hiring freeze.
“Companies are not freezing hiring, but we are in what I would call a ‘frost,’” says Cheri. “People are looking harder at their budgets to ensure the talent they need permanently makes sense. Budgets also start to shift, and we use more of a temporary workforce in the market and try out talent before making them a full-time employee.”
Whatever you call it, it’s important to recognize that hiring has not stopped. “That hiring is continuing,” explains Dave. “Employers should not assume that a candidate will be on the market for long. If the person is a strong fit, make the offer.”
An agile workforce is key
With a layer of uncertainty in the air, companies need to remain flexible in their hiring. As Dave sees it, this is where hiring contractors or consultants comes into play. “Contracting allows employers to have a ‘flexible bench’ to respond to demand in work. If a company isn’t certain that the position will be needed permanently, contracting can cover the gap,” he says.
And, if you’re unsure about the right hiring approach for a role, Cheri says flexibility is the best way to go. “When in doubt, use a contingent workforce strategy so you can still fill the role. If the talent in the role proves the role was needed, they will become part of the full-time staff,” she explains. “Being able to flex your workforce up and down in times like these is a great strategy.”
When you meet the right candidate, a lengthy interview process can easily result in losing the candidate to a faster offer. Dave warns that companies still need to move quickly to scoop top talent. “The speed of the interview process needs to match what the candidates have going,” he says. “Multiple rounds spread out over a week or more is too long in the current market.”
Listen to your employees
Rather than taking a standard approach to employee retention, it’s important that employers really understand what keeps their employees going. “It’s not a one-size-fits-all approach,” explains Cheri. “Make sure you know what motivates your key players inside your organization. If you don’t know exactly why they stay, you will eventually lose them.”
Furthermore, giving your employees a voice in what happens with the company deepens their investment and relationship with you. After all, it’s their career experience as well. “Engage employees by letting them have a voice in their own company experience,” says Dave. Once you know the value you provide to them, you can more readily offer it and anticipate other needs from your staff.