Candidate Shortage – What Is It and What You Can Do About It?
Candidate shortage is when an organization cannot find adequate candidates to fill the available vacancies. It might come as new information, but candidate shortage is a genuine concern in the business world.
The lack of candidates is a significant cause of recruiters’ delayed or low productivity in businesses. Regardless of the challenges of candidate shortages, possible solutions to the problem are likely. The following strategies can help a business deal with candidate shortages.
1- Hire More Professionals or Consultants
As a business owner, hire more professionals or consultants so that they can help with recruiting and screening applicants. However, this strategy is ineffective if you can’t find the right professionals or consultants to fill the new positions. Also, it could increase your recruitment costs as you must pay a consultant or professional. Still, it is a worthy investment. Goodwin Recruiting job candidates is a great place to start if you decide to allow professionals to conduct the recruitment.
2- Use a Staffing Agency To Find Candidates
A staffing agency can provide a key link between you and potential candidates. Recruitment is a talent acquisition business, and your agency will do all the hiring operations on your behalf. Also, an agency has more connections with society and can reach out to larger numbers of potential candidates. By recruiting on behalf of a business, the agency will allow the company to save on time and resources. In addition, the agency can recruit, screen, train, and finalize the selection process.
3- Adjust the Hiring Criteria
While researching for your first employee, the business might decide to look for a candidate with all the required qualifications. However, when you have had a few rounds of experience, you may choose to lower the standard a bit. For example, by reducing the educational requirement to a degree in any field, you will manage to recruit more qualified candidates.
Also, you may consider putting more effort into analyzing candidate performance than basing decisions on educational qualifications. Therefore, it is important that while making this adjustment, you must not compromise quality or productivity so that it does not affect your business.
4- Begin Looking For Talent In-house
Many staffing companies specializing in recruitment do not advertise their services in job ads. Instead, they try to spot the best candidates within their organization. This is called screening talent internally. It usually requires a lot of effort and time, but it is worth the effort if you can get employee referrals.
For example, if a business decides to recruit internally, it must provide employees with the chance to grow through training. When these employees complete proper training, they may fill any vacancies in the future. However, it is not a permanent solution as the employees will leave vacancies that need to be filled.
5- Take Advantage of Transfers
Another solution is to transfer employees from a different department. This strategy involves moving the talent you already have in-house to the needed position. However, most businesses usually do not use it because they consider it a waste of time and money.
They do this because it is assumed to involve letting go of one employee and creating another position for another one. It also requires training which is an added cost to the organization. At the same time, if an organization puts aside time and resources for training, it could come in handy in the future in favor of transfers.
6- Look For Candidates Outside Your Immediate Area
If you are going to offer a salary higher than your competitors, it will attract candidates from a wider geographical area for multiple reasons. For example, offering a higher wage package for relocation could add to an organization’s applicant pool.
The business must consider the implications of relocation, especially on the budget. Also, you could focus more on candidates outside your state. Finally, it will attract candidates that want to get new experiences and visit new places.
7- Stop Accepting Referrals
Approaching and interviewing candidates can be time-consuming. If you do not have enough candidates to fill a position, consider declining the referral request. At the same time, you must handle this request with grace and tact as it could result in biased thinking and remarks if not handled correctly.
8- Involve Employees in the Selection Process
Your employees are your greatest assets as they know more about their jobs than outsiders. Similarly, they can provide new ideas on candidates and their strengths and weaknesses. For example, getting employees involved in the recruitment process may help you get a better match for the position.