3 Things You Need to Know to Attract Talent Away from the Competition

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Sep 21, 2016
This article is part of a series called How-Tos.

Just because you’re on a diet, that doesn’t mean you can’t look at the menu. Top-quality job candidates may be content in their current roles, but that by no means implies that they are complacent in their overall career paths.

And so today, the concern for recruiters is not only how to attract new talent, but also to keep a pulse on the 83 percent of the already employed who would consider leaving their current jobs for something new. In a recent iCIMS study, 400 U.S. full-time employees were surveyed to reveal the underlying factors that lead to modern job satisfaction — as well as the factors that would drive them to stray from their current company. With this data in mind, here are three things you need to know to stay one step ahead of your competitors and attract the best passive candidates, those who might be open to exploring a new, better opportunity.

What Your Competitors Are Getting Wrong

Knowing that employees are open to leaving, note their current job-seeking status. Today’s workers won’t hesitate to make their next big career move if a better opportunity comes along, and 63 percent are already actively looking. Wondering what’s drawing them down new paths? Forty-two percent of employees say the reason they would consider pursuing another company is that they have limited opportunities for future growth or promotion where they are. With a glimpse into the mindset of job seekers, companies have the opportunity to recognize potential deal breakers like this ahead of time and implement changes to project a culture that encourages internal development to attract — and retain — these go-getters.

In a Desirable Industry? Flaunt it. Not Really? Then Focus on Flexibility

The top three brands that are pulling in U.S. employees through their magnetic company cultures are Google, Walt Disney, and Facebook. While it’s logical that popular, well-advertised employer brands would entice talent, did you ever consider that you could use your company’s entire industry as well? iCIMS’ study found that 77 percent of employees are considering a complete industry change, and entertainment, banking/finance, consulting and technology/software development are most appealing. If you’re in one of these industries, you’re already ahead of the game. If you’re not, you may want to boost your chances in the competition for talent by offering key differentiators like flexible work schedules.

Moving away from traditional full-time work is a real consideration for workers right now. In fact, working more flexible hours was the top reason that employees would consider this big change in job structure. Fifty-six percent of those currently working full-time are interested in alternative arrangements such as on-call work, freelance, or temporary roles as part of the gig economy. More U.S. full-time workers have transitioned into these roles over recent years, increasing to almost 16 percent from just 10 percent a decade ago, according to new research from labor economists, Lawrence F. Katz and Alan B. Krueger.

To help curb this trend, make sure to advertise any work schedule flexibility on your career site and mention it in interviews with candidates.

Consider Highlighting Non-traditional Benefits

Today’s modern job seekers are getting creative with what they would like to see from employers, and want benefits that are relevant to their lives, so take note when designing your career sites and job descriptions. Sixty-nine percent of full-time employees have pointed out that they are not satisfied with the benefits that they are currently being offered, and this goes beyond health plans and compensation. And ninety-two percent believe that companies who offer nontraditional benefits are more likely to recruit top tier talent. The modern full-time U.S. workforce is less focused on monetary benefits and would be happy with different incentives like mental health days, a company car, pet insurance, or even the ability to bring their pet along with them to work.

To stay on their radar, recognize the stages of life that different candidates are experiencing and determine the significance that your publicized benefits package may have based on that. For example, sixty-six percent said that if they were to start a family in the next year, they would care most about paid parental leave for both mothers and fathers. Is this something that your organization has considered, but just hasn’t addressed quite yet? It is this forward-thinking that job seekers will value. Employees want to immerse themselves in a work environment where they feel that their employer understands them and displays a meaningful benefits package to reflect that.

Stay Ahead of the Competition

Knowing what drives people to change careers, where they are heading, and what draws them in provides companies with a unique opportunity to better position themselves to attract best-fit talent. With over half of employees actively seeking a new job, be smart and take advantage of the chance to showcase a strong employer brand that will impact their decision and bring them straight to your door. A little understanding goes a long way when attracting talented people to a company, and by acknowledging the evolving expectations of job seekers as well as listening to current employees, you can stay ahead in your company’s war for the best talent.

This article is part of a series called How-Tos.
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