People are a business’s most valuable assets - find the right employees, and your business will grow.

If only it were that simple! Many businesses are now experiencing a talent shortage, with some 69% of businesses in the US struggling to find top talent, representing an increase from just 14% in 2010.

Top talent is more selective about their jobs. And they’re more likely to leave within six months if they experience a poor onboarding process. Bad hires can cost $15,000 when factoring in time and productivity losses, plus the cost of readvertising the post, interviewing more candidates, etc.

So, the pressure is on businesses to attract and retain candidates. Here are six ways to attract candidates and focus on top talent.

Create a formidable company culture

Company culture is exceptionally important. Forging an excellent company culture helps businesses stand out from the crowd and attract the best candidates.

According to G2, 75% of candidates research a business’s reputation before applying, and strong employer branding reduces turnover and cost-per-hire. In addition, company culture engages employees and increases productivity, leading to a knock-on effect that fuels growth.

There are many tried-and-tested ways to create excellent company culture. Examples of companies with exemplary cultures include Buffer and Dropbox, which provide enhanced benefits packages to their employees, including free continuing professional development opportunities, share schemes, and more.

It’s important to realise that company culture matters from the minute someone contacts the business.

So, ensure that the recruitment process also represents company culture so employees can really feel that you’re going the extra mile. Modern recruitment software like Hiringmaster makes this simpler by providing candidates with a slick, streamlined candidate experience.

Key takeaways:

1. Company culture regularly ranks towards the top of job-seeker priorities.
2. Ensure company culture is represented from the very start of a candidate’s journey.
3. Make business goals and mission statements clear.

Offer a quality benefits package

Following on from the above, offering a competitive benefits package has become essential in today’s job market.

Options range from private health insurance to enhanced holidays and funding for continued professional development (CDD). Share schemes are another way to incentivise employees and involve offering ownership in a business.

This is especially common among startups who offer their initial employees equity in the business. Offering equity attracts candidates and incentivises them to stay to help the business grow.

1. Businesses are offering increasingly novel benefits packages.
2. Offering opportunities for funded CDD is popular among larger businesses and enterprises.
3. Employee share schemes are ideal for startups.

Conduct outreach

Around 73% of individuals are only passively searching for a job. That means that your new employees are probably out there waiting for you. If you sit and wait for them, you might be in for a long wait!

It’s essential to conduct candidate outreach to locate passive job seekers. LinkedIn is a great place to start, as the search function makes finding and browsing candidates easy. Then, it’s just a matter of checking out profiles and reaching out with an invitation.

Freelance job sites like Upwork and PeoplePerHour are another option, as many are open to longer-term opportunities or even full-time jobs.

Key takeaways:

1. Many of those open to work are passive job seekers.
2. Blend candidate outreach into recruitment processes.
3. Don’t be afraid of reaching out to individuals through LinkedIn or other social media.

Offer an outstanding candidate experience

A positive candidate experience increases the chance a candidate will accept a job by some 38%. In addition, providing an outstanding candidate experience gives a great first impression, not only increasing the odds of a successful hire but also boosting employee engagement in the long run.

Top talent will look for employers that stand out from the crowd, but that doesn’t mean that employers need to reinvent the wheel. Focus on the basics first; investing in hiring software like Hiringmaster helps recruitment teams track candidates and communicate with them in a timely fashion. Never keep candidates in the dark - it risks deterring top talent.

Key takeaways:

1. Job seekers value a smooth, clear candidate experience.
2. Keep communications timely and precise.
3. Use recruitment software to organise the recruitment process efficiently.

Create a diverse talent pool

It’s best to create a diverse talent pool to select candidates from. This takes planning and patience.

Creating a diverse talent pool also enables businesses to eradicate bias, which has been shown to boost business growth and productivity. According to Glassdoor, some 76% of employees believe that a diverse workforce is important for choosing a new employer, and 38% say they’d turn down a job if it was apparent that the workforce wasn’t diverse.

It’s usually necessary to advertise positions over multiple channels, conduct outreach, etc., which can result in an influx of applications that hiring teams must properly manage.

The ideal candidate could come from any channel, so managing each touchpoint is crucial to prevent anyone from falling through the cracks.

Key takeaways:

1. Candidates often select diverse workplaces that demonstrate inclusiveness.
2. Keep on top of diversity and inclusion strategies to avoid unconscious bias.
3. When advertising positions over multiple channels, ensure each is properly managed.

Career development

Candidates are looking for opportunities to develop. Some 30% of employees say that lack of development opportunities is the principal reason why they look for a new job.

Offering a clear pathway to progress and development will likely attract candidates that commits to the business for the long term. The alternative is clear; failure to provide development and progression opportunities will increase employee churn.

Keep career development at the forefront of the recruitment process and inform candidates of the opportunities they’ll have if they remain committed.

Key takeaways:

1. Candidates are put off by jobs that seem to have a ‘dead end’.
2. Provide a clear path of development and progression.
3. Make career development potential clear from the outset.

Summary: 6 ways to attract candidates and focus on top talent

Top talent is increasingly hard to find, so recruiters must go the extra mile to secure the employees businesses need to grow.

This involves a combination of offering competitive salaries and benefits packages with some innovative features, an outstanding candidate experience and clear continued professional development.

Hiringmaster helps recruiters to put their best side forward to attract candidates and fuel growth. Our recruitment software makes it simple to plan, track, and manage the entire recruitment process, Hire faster while providing an exceptional candidate experience.

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