The talent market in 2018 is highly competitive, we have fewer available workers than we do jobs, we have fast paced interview processes, and highly creative competition going outside the box to lure candidates. Even if you have the best process, you may be losing candidates. Candidates today are well informed, take the time to seek out information on an employer and the opportunity, and have options if they don't like what they find out.
Often times, small to medium sized companies will brainstorm internally about what will attract candidates. A group of leaders will get a whiteboard and a marker, come up with ideas, and spend a lot of time and money to put together compensation and benefits packages that may or may not result in hires. Even the perception of recruiters is not always aligned with what candidates are actually looking for.
According to statistics, in 2017, the top four things an American job seeker is looking for are:
*Competitive Compensation Packages - 52%
*Emphasis on Work-life Balance - 38%
*Advancement Opportunities - 31%
*Collaborative Environment - 29%
A 2016 Gallup survey that found that 87% of Millennials rate professional career growth and development opportunities as very important to them in a position. If you are seeking to hire Millennials, you should be focused on:
*Articulating advancement options within the company
*Bringing in development options
Aligning your offering with what is important to the demographic you are seeking to attract will lead to better results.
Book a complimentary consultation to explore how we can support your compensation and benefits offerings as it relates to your desired employee: https://www.mgassociates.org/book-online.