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Have you recently offered a role to the perfect candidate just for them to turn it down? You are not alone, at least 17% of all jobs are currently rejected according to a recent analysis of international data by Glassdoor.
Even when you find qualified candidates, it can be difficult to get them 'over the line'.
So what can you do to enhance your chances of getting the most talented people into your organisation?
Here are four ways you can beat your competitors in 2022.
#1: Embrace Virtual Interviews
Face-to-face interviews present logistical challenges for all concerned.
It’s difficult to schedule a large number of interviews that suit everyone. However, it’s important that no candidates are ruled out. Getting lots of people in a room at a time that suits hiring staff can be tough.
Compare this to virtual interviews. Candidates don’t have to travel to attend. If somebody is relocating and doesn’t want to take a day off work, there’s no need. Geography isn’t a barrier.
Colleagues also don’t have to be in the same place at the same time. If the hiring manager is away on business (or is working from home on the day), the interview can still take place.
According to America’s top career expert, Robin Ryan, convenience and practicality are the main reasons virtual interviews are here to stay. This change is supported by HireVue. When surveying 1,142 hiring leaders across the US, UK, and Australia, they found the following: “54% said virtual interviews result in a speedier recruitment process… 41% say they helped them identify the best candidates.”
According to Forbes contributor, Jack Kelly, consulting and retail are two industries that have seen the biggest increase in virtual interviews (up 200% and 50% respectively).
#2: Have Hybrid Working as Standard
A FlexJobs survey of 2,100 people found this: 58% of people want to work at home permanently after the pandemic and 39% want a hybrid environment.
Mike Jennings, a technology consultant for Techradar, supports this view. He writes that it’s not just employees who may have a preference for hybrid working. Remote workers are more productive than in-office staff, and remote working opportunities mean companies can hire from a more diverse pool of talent.
“People’s preference for home and remote working isn’t going away, especially as COVID-19 variants emerge... It’s less of a trend and more of a permanent change.
Candidates will expect hybrid working as standard when they apply for positions. Companies will also have to offer flexible options if they want to attract and keep the best talent.
Some people will prefer the office, some people will want to work at home, and others will need a mix of both. The best companies will cater to this need.”
- Mike Jennings
#3: Hire Passive Candidates
As the saying goes, it’s lonely at the top.
According to Talent Works, a shortage of high-skilled workers means companies are competing for the same candidates. This saw a rise in companies trying to reach out to the passive candidate market, rather than just the limited few searching for jobs.
Passive candidates can be better hires. They don’t necessarily want to leave their job; they are busy being good at it. If they do consider a move, it’s usually because they see a new, more exciting challenge. It’s an opportunity to progress and grow, or the company (and team) are a better fit with their values.
Passive candidates also rarely compete against active job seekers. As a result, they usually only put their hand up for a new role if it’s aligned with their goals - their ‘dream role’, as I call it.
All of these factors mean the chances of encountering a bad hire are less when it comes to a passive candidate.
This trend of recruiters reaching out to passive candidates is likely to continue in 2022. According to Kinsta, 87% of recruiters use LinkedIn to find passive candidates. Here at HVO, we approach passive candidates 99% of the time.
#4: Consider Hiring from Adjacent Industries
According to the World Bank, global growth is expected to decelerate from 5.5% to 4.1% in 2022. This reflects the supply bottlenecks caused by COVID-19, as well as the rebound in demand.
Facing these challenges, competition between companies will become even more fierce. According to global industry analyst, Josh Bersin, adjacent industries are “eating one another”. He points to retail.
“You’re a retailer… Your customers want access to a wide variety of products, they want affordable prices, and they want their products delivered quickly.
Retailers create omnichannel buying experiences, but it goes much farther. Should they have their own distribution network? Should they have a membership program? Should they be investing in drones or third-party logistics? Is retail now a consumer service and distribution industry?”
Looking at retail trends for 2022, Deloitte reached a similar conclusion:
“The online and digital retail world is no longer the sole preserve of the agile startup or online pureplay business. We have begun to see the major established retail businesses fight back by embracing digital themselves. The modern retailer’s journey into digital sees them adapting their core, exploring digital products and experiences, and exploring the metaverse.”
We're seeing more companies widening their search pool and looking outside of their industry for the best people. As long as organisations have clearly defined what business problem they need candidates to solve, as well as the qualities, mindset and values they are looking for, other industries can provide an incredible source of new untapped talent.
With all these retailers exploring new frontiers and vying for top talent, how do you compete?
It’s an interesting question, and one that hiring managers will have to consider in 2022. The landscape is ever-shifting. Companies need to adapt.
The good news is, we can help.
Are you looking for talented c-suite executives to join your business?
We work with Founders and CEOs across beauty, luxury, fashion, and wellness, and understand what (and who) it takes to elevate their businesses.
If you’re looking to hire an agile, innovative, and dynamic leader, contact us.