Extraordinary Times for Hiring
The labor market is going through extraordinary times: historically fast job growth, severe labor shortages, low unemployment rate, and a big shift to remote work. The talent pool has significantly changed in the past two years, our goal remains the same; making the best talent match to your open positions. You win the candidate when you put your best offer forward right at the start.
The best and final offer in real estate is a prospective buyer’s last and highest offer because the property is in a bidding war. Think about this when securing top talent. Employers are losing top talent in offer wars. In this extremely tight labor market, candidates are receiving multiple offers. They are making decisions to work for employers who recognize their value, appreciate their unique abilities and experience.
Higher Salaries Are Driving Resignations
Workers are quitting at the highest rate on record, often for higher pay. The latest American Staffing Association Workforce Monitor online survey conducted by The Harris Poll indicates that job seekers will increase and 63% of respondents said income would drive their decision to change jobs.
Employers are Reacting
Forbes looked at online job postings and identified a trend that employers are offering more sign-on bonuses, higher starting salaries, and more on-the-job training when securing talent this year.
Winning the Candidate
These extraordinary times mean the war for talent is real and happening right now. It is a challenging time for talent acquisition. We are encouraging employers to put all their cards on the table quickly, respectfully, and sincerely. Make a genuine connection with prospective employees throughout the recruitment process.
The candidate’s decision often comes down to the final offer. If the candidate doesn’t feel valued and appreciated for what they bring to the role, they may decline or go into negotiation mode. Be genuine and transparent and put your best offer forward from the start. The candidate will feel valued, they won’t wonder, “could I get more” and if they have multiple offers, they will appreciate you making every effort to hire them. Hopefully, they close the conversation with other companies and accept your position.
The recruiting process is intricate, time-consuming, and costly. Don’t lose your best candidate at the last step … the offer. By putting forward your best offer first you increase the chances of securing spot-on talent for your company.
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