7.01.2018: How to Attract Top Talent in a Candidate-Driven Market
There is no denying that the job market has transformed into a candidate-driven market. The record low unemployment rates combined with the rise of online job boards and employer review sites have given candidates more power and more options than perhaps ever before. According to a recent study, 76 percent of the companies surveyed ranked hiring top talent as their number one challenge.
Updated Hiring Strategies Are No Longer Enough
Hiring top talent candidates is not impossible, but it does require a shift in recruitment strategies. Gone are the days when you could post an open position on the various job boards and sit back and watch the applications pour in. It's true that an online job posting can still generate plenty of applicants, but it's the quality of those applicants that is lacking.
Unfortunately, for many companies, this updated hiring strategy has wasted a lot of time and resources as they filter through multitudes of unqualified applicants and still struggle to find top talent. There is a better way.
How to Attract Top Talent Today
There are several things employers in the insurance industry can do to transform their hiring practices and find the high-quality candidates they need.
Develop a Continuous Pipeline of Talent
You can no longer simply wait for a job opening to occur to start recruiting. This method not only lengthens the hiring process, but it also increases hiring expenses and makes it more difficult to find top talent. Instead, it is important to build a continuous pipeline of qualified candidates on an ongoing basis. This way when you have a job opening, you already have a talent pool in place.
Build Your Employer Brand
Building a positive employer brand in this day and age is a must. Just one bad review on an online employer review board can damage the company reputation as an employer for years to come. You can go a long way toward overcoming bad reviews by proactively building a positive employer brand image. Your employer brand should be on display throughout your hiring strategies, including on the company's website career page, job descriptions, onboarding materials and more.
Invest in Candidate Engagement
Before the switch to a candidate-driven market, employers could expect high-quality candidates in the insurance field to reach out to them. This is no longer the case. Employers must take the extra step to invest in engagement with the candidate at various touch points throughout the candidate journey. The good news is that increased engagement with the prospective candidates gives the employer a better opportunity to not just find qualified applicants but to identify the "right" candidates.
Meet Candidates Where They Are
You must develop a multifaceted hiring strategy that helps you meet the candidates where they are. While online job boards still have their place, this cannot be a stand-alone strategy, especially if you want to attract both active and passive job-seekers. Instead, you must reach out to potential applicants where they are, such as social media and professional groups. In addition, developing a mobile-friendly application process is necessary in an era where 78 percent of millennials use their smartphone to look for jobs.
Many insurance employers realize that their hiring strategies need to be updated, but finding the extra time and resources to implement these changes is still a challenge. This is where a professional insurance recruitment team can help. Partnering with a hiring agency that specializes in insurance recruitment can give you the power to find top talent candidates without wasting valuable company time. Contact Insure National today to find out how an insurance recruitment team can help you attract and identify top talent.