It’s no secret (or surprise) that the COVID-19 pandemic greatly impacted the job market. It can be challenging to keep pace with these unprecedented changes as an employer, especially as they affect recruitment and the job market globally. So the question is – how can you keep up?

What is the Great Resignation?

According to the U.S. Department of Labor, 11.5 million Americans voluntarily quit their jobs between April and June 2021. Four million Americans quit in July, and another 4.3 million resigned in August.

55% of Americans in the workforce – defined as employed or looking for work – are likely to look for new employment in the next 12 months, according to an August 2021 Job Seeker Survey by Bankrate. 

This presents a unique opportunity; while employees are becoming clearer about their priorities and more discriminating in what they require from employers, it also shows that this is the best time to alter hiring practices and recruitment strategies to attract top talent. 

Let’s take a look at some quick statistics presented in a recent Forbes article:

  • According to a survey by TinyPulse, 1 in 5 executive leaders agree with the statement: “No one wants to work.” They cite a “lack of response to job postings” and “poor quality candidates” when explaining why it’s hard to hire. 
  • A Gallup poll notes that a shocking 86% of employees are actively disengaged at work.
  • While employers are frustrated, hustle culture is growing significantly. Fiverr.com, a website for gig workers, disclosed a 30% increase in the number of active buyers last year versus 2020. Their overall revenues grew by 42%. 

Essentially, employers are competing with a growing gig economy and contract work. So how can you increase the number of applicants applying to your jobs?

How to attract more applicants to your jobs

Be transparent about compensation

From pay transparency to information on company culture, being transparent is a base expectation from most candidates in 2022. 

Despite the fact that most employment websites for job listings (such as LinkedIn) offer employers the option to include compensation ranges, those fields are often left “unavailable.” As a result, there is no reason for candidates to waste their time interviewing with potential employers when they might not meet salary requirements in the current market.

This works both ways – as an employer, you don’t want to waste time and resources interviewing candidates who expect higher compensation than you can afford. According to Glassdoor, the average U.S. employer spends roughly $4000 and 24 days to hire a new worker. While this varies depending on the role, size of your business, location, and other factors, it’s a win-win to disclose salary information early in the process.

Pay attention to company culture (especially DEI)

Employers need to be as attractive as possible from day one. Beyond compensation, employees are becoming increasingly concerned about company culture, especially diversity, equity, and inclusion (DEI). 

The shift to remote and hybrid work does not mean that company culture has become less critical. Having the right DEI initiatives in place can lead to happier employees – and happier employees lead to less turnover and higher productivity.

According to Laura Wronski, a research science manager at SurveyMonkey,

“Workers who are satisfied with their company’s efforts on [DEI] issues are actually happier with their jobs. They are more likely than others to say that they have good opportunities to advance their careers, and they are more likely to feel like they are paid well for the work they do.”

Another report by Glassdoor shows that 76% of job seekers consider a diverse workforce to be an important factor when evaluating job offers, so candidates are using this as a factor when they research your company and undergo the interview process.

Word-of-mouth and employee reviews have always been important to potential applicants, and fostering a fun, inclusive work environment will lead to better testimonials and a stronger reputation overall. 

Beyond employer review websites such as Glassdoor, it might be beneficial to use your careers page or blog to highlight employee stories or your employer brand. 

Most importantly: be authentic. The worst action you can take is implementing quick fixes to attract candidates instead of holistic strategies. This can cause severe damage to your reputation and have long-term consequences.

Engage a staffing partner

Let’s be honest: Changing recruitment practices can amount to a lot of work for many firms, especially those with very full plates. So to attract quality candidates, many turn to professional staffing and recruitment resources to do the work necessary and draw on that partner’s expertise in attracting hires or their existing network of qualified candidates.

Whichever steps you choose to take, keep in mind that the changing job market can make it difficult to capture enough candidates for a job posting. However, this is easily fixed with the right partner, and taking these steps will pay off for years to come.