The largest problem facing American and UK employers at the moment is attracting quality applicants, according to a recent study published by Glassdoor in September. When surveyed, 76 percent of hiring mangers stated they have experienced difficulties drawing the attention of suitable candidates.
With U.S. unemployment at 4.3 percent in May, employers are now struggling to extract the best talent from a smaller applicant pool. During times of low unemployment, getting the attention of passive jobseekers becomes more important, but today’s recruiters have grown hesitant to contact applicants via networking sites, such as LinkedIn, as response rates are down.
Attracting top talent wasn’t the only problem recruiters have been experiencing recently. Glassdoor polled 750 hiring decision makers in the U.S. and UK and found that other challenges include budget constraints, knowing where to advertise job vacancies to attracted quality candidates, and difficulties competing in terms of benefits and compensation packages. This combination of factors has led many to believe that their companies’ recruitment strategies are outdated or no longer as effective.
Glassdoor also asked hiring managers what factors they believed influenced whether or not an applicant would accept a particular job offer. The top issues in the mind of potential employees include having information on: company culture, salary and compensation, company reputation, interview experience, senior leadership, and company mission and values.
Despite feeling that current recruitment strategies could be stronger, the Glassdoor survey found that those responsible for hiring agree on what makes an applicant a “quality” candidate. Almost nine out of ten (88 percent) employers consider an informed candidate to be a superior applicant. These individuals are more discerning when applying for positions. Rather than spamming employers with resumes, these applicants tend to select positions that are a right fit for their experience. Overall, survey respondents found that informed candidates made the hiring process both easier and faster.
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Glassdoor found that five factors contribute to making an applicant an informed candidate. As mentioned before, these candidates are more likely to have the necessary experience. Informed applicants are prepared for their interviews and ask relevant questions. They also tend to have more knowledge about the role they are applying for. These individuals already know about the organization’s culture and values prior to an interview. Informed candidates also have more accurate expectations as to compensation and benefits packages.
Companies that focus their recruiting efforts on cultivating and attracting informed candidates have found improvement at all stages of the talent lifecycle. During the interview process, informed job applicants improve the candidate experience, reduce the time it takes to hire, and increase hiring manger satisfaction. In addition, they lead to a fewer number of interviews and a reduction in recruiting costs.
Glassdoor’s survey found that the benefits of informed applicants don’t stop after the hiring process is over. Informed candidates also make better employees, which leads to higher level of retention, more productivity, and more engagement. These individuals also seem to be better team players and improve overall employee experience.