The workforce will face a shortage of 10 million professionals by 2010 according to the U.S. Bureau of Labor Statistics. Sound surprising? To many in the HR industry, this number comes as little surprise. You're already feeling the effects of a workforce shortage and are scrambling to find ways to fill positions of all levels. To others, especially new and growing businesses, this statistic comes as a scary truth to face head on. How will we grow without enough talented people? And how do we effectively recruit from the limited talent pool? First, we have to understand what that talent pool looks like before approaching how to best recruit.
It wasn't just a few years ago that the average passive candidate fell into two categories: One, the highly experienced professional in a niche field with enough years under their belt to get them noticed, but not enough to consider them close to retirement. Two, the college or graduate student at the top of their class and a number of accomplishments already under their belt. These were the classes that headhunters went after for the most part, and the rest of the working professionals had to fight for the positions they wanted. Up until very recently companies had "iron gates that most professionals had to work hard to get through. Except for a few industries that have always faced a shortage, such as healthcare and technology, businesses called the shots and spent a considerable amount of time just weeding through potential candidates. Job seekers, along those same lines, would spend a great deal of time and effort researching the companies they wanted to work for. THEY went looking for YOU. Now, the opposite is occurring.
Today, the power is in the hands of the professional. Companies have to open the iron gates, put a big welcome sign on the front and occasionally hold an open house. Instead of the other way around, businesses are expected to share their values, share their culture, improve their "living space and actively show the current workforce their resume. This paradigm shift is decidedly sudden and has found some companies eager to adapt, while others are struggling to accept this drastic change. Companies are adapting to social networking, video on the web and other new tools to reach the elusive passive candidate.
Consider the new passive candidate as young, old, of all generations, all backgrounds, and in more industries than ever before. That's right, it isn't just one age group in a few select industries any more. The new passive candidate could be in any number of industries your business services. Let's take a closer look. Even though the Baby Boomer generation is leaving a vast hole in the corporate world, there are still a large amount of attractive candidates older than Generation X but not nearly ready to retire. This is the most experienced talent pool, and they plan to stay on the career track longer than their predecessors. They are loyal to their companies, more so than younger generations, so therefore harder to sway. Moving along, we have "Gen X. It shouldn't be a secret to any employer at this point to understand that this age group, 28 to 40 approximately, comprises nearly 30 percent of the entire workforce. Gen X is extremely hard working yet considerably less loyal to their current employers than the generation above them.
They are easier to recruit because of this fact, they are skeptical, tech savvy, and company culture makes a difference in where they decide to park. Finally, we have "Gen Y and the "Millenials, the names given to those just out of college. This generation is consumed by their gadgets, they have over 500 "friends online, and if you can't find a way to get in front of them, forget about them ever finding you. It is this group that is totally redefining how companies recruit, as they demand a more engaging, interactive experience right from the get go. This sounds like a large pool to choose from, doesn't it? Unfortunately, despite their numbers, they still make up significantly less talent in the market than ever before, and their numbers are shrinking.
So how to get in front of the best candidates? Again, it should come as no surprise to many employers that they have to get creative and move a large portion of your recruiting efforts online. Today, it is all about technology, reach and showing candidates your company culture. Here are a few ideas to get you started:
1. Vrial viral viral. There are many tools available that help employers directly reach passive candidates through email and online. You should want your job postings to land everywhere your candidates eyes are: LinkedIn, Google, MySpace, Facebook, etc.
2. Make your online recruiting more interactive. Show candidates your company culture through videos and podcasts with the CEO and hiring managers. For today's candidate, they overwhelmingly want to see what their next job will look like.
3. Start a blog. If your company doesn't already have a blog, they should. A blog not only opens up a line of communication with your customers, but it gives passive candidates a feeling for your company's personality. A blog is a great way to express your company's views on industry trends, share exciting milestones and highlight big accomplishments. All of these things are important to candidates.
4. Be an active participant in your industry associations. If you aren't already out there networking, you're missing a golden opportunity to interact with passive candidates face to face.
5. Invite them in for a first hand look. Plan a day where you can take a group of passive candidates on a tour of the company. Let them meet the top executives, and talk with other employees. This is a great way to showcase your company culture.
It seems like not too long ago the online job board with simple, text job postings was revolutionary. It was, and it changed the way job seekers looked for jobs. But today, there are less job seekers on the market, and the best candidates aren't even looking. The HR industry hasn't seen a shift in recruiting quite like this in some time and experience tells us that the employers who are most willing to adapt to the changes will be the most successful. It is imperative that recruiters enhance the tools and technologies they use online to get in front of the most candidates, in the most places. The best thing employers can do right now, to reach the most passive candidates, is to get creative, get out there, and open up the iron gates.
