OFFERITRIGHT.

COM

JULY 2019

Hiring the Right

People

PREPARED BY
GOPI KRISHNA LAKKEPURAM
SANTOSH BANPUR
Impact of Candidate-Driven
Market

WHAT THIS E-BOOK IS With more job openings than candidates to

fill the positions, the candidate-driven
ABOUT? market is now at its best. However, not so
much for the employer. The high demand
for skilled employees has increased
employee turnover. It is easier for
employees to grab a better job opportunity
with high compensation. But, businesses
struggle to fill open job roles with
skilled candidates. Inc Magazine believes
that we are in the middle of the most
demanding hiring market. It is very, very
hard to find relevant candidates to fill
a job role — any job role.

01
How It Influences Employers?
Simply put, a candidate-driven market According to an MRINetwork study, 31%
creates a competitive ground for of candidates reject or refuse a job
employers. Here, employees become more offerbecause they have a position
willing to leave their current job role for elsewhere. Hence, HR managers struggle
better compensation, salary, and work more than ever to hire new employees and
culture. It is believed that now retain existing ones.
the candidates don’t have to wait for weeks
to get a good job role. They can instantly
move to an organization that values their
skillset more.

How to Recruit in
A Candidate-
Driven Market?
The first question here is, how can you find
the right candidates?

Since the recruitment war is real, the

efforts for finding the right source of talent
are imperative. The HR managers should
start by building an employer brand,
focusing on proactive hiring, and working
towards increasing employee experience.

02
Accelerate the Hiring Process
From the moment you reach out to Hence, you need to work with a sense of
the candidate to the on-boarding process, urgency. Streamline every task for the
the HR needs to ensure efficiency. recruitment process and immediately move
Candidates usually apply to a series of job from one stage to another.
roles, and there is a chance that some The recruitment process is similar to lead
other organization may process their conversion — accelerate it and make it
application quickly.  more efficient.

Provide
Competitive
Offers
Offering less than the market value of
the candidate is not an option today. It is
not possible to convince a candidate to
join on a lesser salary. Even with
increased compensation in terms of growth
and additional benefits, the salary should
be reasonable. Sometimes, the irrelevant
offers even make the candidate feel
undervalued, which encourages them to
leave the recruitment process in the
middle. Hence, decide the
right compensation and salary before you
move forward with a candidate.

03
Ensure the Right Culture
Communication is an important aspect
of recruitment. Without good
communication bond between the
candidate and the company, it is unlikely
for the candidate to get to know your team
values, work procedures, and workplace
environment. Involve the candidate as
much as possible in the workplace
processes during recruitment to help them
understand the culture.
It is important to understand that your
culture may be a perfect fit for a
few candidates and not desired by others.
Respecting the difference in choice
of candidates help HR managers to adjust
to the changing needs of
the recruitment space.

How to Retain
Employees in A
Candidate-Driven
Market?
When it comes to people of your company,
retention is definitely more important
than recruitment. This is so because
recruitment takes more resources and
energy. A new employee is hard to find and
harder to manage. The on-boarding and
orientation processes are often time-
consuming which can end up impacting
the workflow. Further, an employee already
working for your organization knows the
workplace culture and work ethics.

04
 Respect.
INSPIRE.
BALANCE.
KEEP IT FLEXIBLE
MAKE IT HAPPEN.
Don’t forget the motive
behind hiring your employee
and even freelancers or
consultants. You hired these
people for their expertise,
hence, respect their work
choices and way of working.
There is no reason for
interrupting workflow unless
the employee behavior is
impacting work.
Inspire your employees.
Think about it; just a small
token of appreciation for the
employee who worked hard
the whole week is enough.
Have an achievement board
or an online portal to praise
your employees and their
hard work.
05
Allow your employees to
maintain a work-life balance.
Always working can
make candidates dull and
unappreciative towards work,
which can encourage them
to leave. Avoid the situation
altogether by helping your
employees maintain a
balance unless it is
absolutely required.
Flexible working or flexible
work hours is something
every candidate is looking for
today. Most of the businesses
although expect employees
to show up on time and stay
back at the office when
required, these employees
are not allowed to leave
early. When your employees
are done with work, allow
them to leave early. This
encourages employees to
stay back when they need
too. Simply maintain an
equilibrium.
Company Growth Led by
Candidate-Driven Market

FINAL THOUGHTS. Adopting these growth intensive

approaches in a candidate-driven market
can take businesses a long way. When you
are scaling your business, these culture
changes will help you adjust to the
changing resource demands with ease.

Further, you can utilize OfferItRight’s

product for accelerating
the recruitment process. During upscaling
or recruitment, this product helps you send
digital offers and complete digital on-
boarding. Without wasting resources and
time, you can quickly allow
your candidate to get to work.

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