3.5% Unemployment Rate & You're Still Playing Hard to Get?

March 22, 2023

This is a bit of an update on an older post. And yet, we are still finding companies that are making it difficult for themselves to hire and making it easy for great talent to look the other way.

This post was originally published in May of 2018. At that time the US unemployment rate has dropped to the lowest rate in 17 years... 3.9%.

As of July 2023, the Unemployment rate is currently at 3.5%.

This means that talented candidates currently have more options available to them than they have had in nearly two decades. As hiring managers and recruiters, it is our responsibility to adjust our approach accordingly. The US has been experiencing positive job growth for the past few years and we have had ample time to start making our organizations attractive and desirable to prospective talent. Unfortunately, many employers and hiring managers are still experiencing "prom queen syndrome," where they act as if they are the only option and candidates should be grateful to be considered.

Here are five steps employers can take to make the recruitment process more appealing and reduce the rate of candidates voluntarily withdrawing from consideration:

1. Job Advertisements / Postings – Your boring job ads are keeping you from even hearing from top talent. Job ads are NOT job descriptions. Focus on explaining the main purposes of the role. Talk about the minimum qualifications. Explain what’s in it for THEM. Remember to drop all the legal mumbo-jumbo. Keep the legal speak in the job description and out of your job ads. If you think you are required to include legal speak in your ADS you are WRONG.

2. Application Process – Are you still asking applicants to fill out applications when you need a resume?

3. Interview process – Keep it short & simple! Schedule multiple interviews on the same day and, remember, you do not need 5 interviews.

4. Employee Value Proposition – Everyone in the interview process must be trained on how to sell the WIIFM. At a minimum, all interviewers should be able to sell based on Compensation, Benefits, Work Content (what you’re doing), Career Path, & Company Values.

5. Offers – We’ve heard the adage that perception is reality. Well, keep this in mind when making your next offer, the perception of disinterest breeds disinterest. Candidates who wait days before receiving an offer will perceive a growing level of disinterest on behalf of the employer. Consequently, a candidate’s disinterest will grow.

Employers should be striving to make their interview process as frictionless as possible! Understand how important it is for candidates to have a smooth and stress-free experience. That's why we take the time to make sure every step of the process is efficient and comfortable. #ReduceInterviewFriction #CandidateExperience #SmoothInterviewProcess #HappyCandidates

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