In 2018 the recruiting firm Jobvite conducted a survey of 1500 American workers gaining an insight into everything from sexual harassment in the workplace to how many people have turned down a job offer due to the company culture.
Interestingly 82% of people are open to new job opportunities so why are great companies struggling to attract and hire great talent?
According to a survey by Dale Carnegie Training 16% of people are currently looking for a new job – the other 66% are open to new opportunities but are not currently looking. This is an extremely large percentage of people who will not be looking at your open job adverts but could include someone who is the perfect fit for your business. Interestingly the % of individuals who claim to change jobs every 1-5 years is up from 34% in 2016 to 51% in 2018 meaning that this passive and active pool of people are changing all the time – meaning there is always new talent to consider and talk to, which also means your network of people should be growing constantly.
How do you get these passive candidates on board? – these people are not going to apply to your position online through job sites or via your website. You need to manually target these people through executive search via your internal or external recruiter. Whatever resources you choose to use, these partners need to know where to look and know your business well.
It doesn’t stop here though.
Finding great talent isn’t just about sourcing great talent it's selling the opportunity and making people want to work for your company through a combination of having great culture, product and great packages that appeal to the right people.
As many as 46% of people considered culture as ‘Very important’ in the JobVite survey and up to 15% of people have turned down an offer because of company culture. It’s up to you and the people within your business to make sure your culture is attractive to perspective employees which cannot be done overnight. Creating a great culture starts right at the beginning – changing your company culture or attempting to make it better can take months if not years to correct and is never reliant on one change.
Hiring is not only about bringing people on board, but also about keeping people on board. Jobvite’s statistics on tenure needs to be considered when creating packages for new employees and amending packages for current employees. 10% of females and 6% of males would consider leaving a position because of work life balance, and 13% of younger workers said the lack of growth opportunities would drive them to leave. More shockingly, compensation was the number 1 factor for leaving a job last year!
Consider multiple aspects of a role and all that comes with it when putting packages together to hire someone who is likely to have a long tenure with your company – to save you time and money in the long run!
If you need assistance or would like to discuss your recruitment plans with an experienced executive search recruiter get in contact!
Also – create a video showing just how great your culture is – see an example of ours here – it’s made a significant difference to us!