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Effective strategies to attract and recruit talent in a competitive market

No one goes unnoticed by the fact that companies no longer compete with each other just to attract consumers who want their products or services. For some time now, we have been living what has already been described as a professional talent crisisl.

It is increasingly common for organizations not to find suitable people to fill the vacancies they are offering. It's more, When you are lucky enough to find a good professional, it is difficult to get them to want to stay with the company in the long term.

A study carried out by the Bureau of Labor Statistics in the United States in 2022, highlighted that, on average, the time spent in the same job is only four years. Data that, if we observe the reality around us, we can easily verify that they can be extrapolated to what is happening in Europe.

This happens for many different reasons, but the main one is that the mindset of employees has changed. Gone are the times when a person went to work in a company and spent their entire career there.

Currently, workers are not afraid to change jobs. Those who are good professionals, They know that they have a profile in demand in the marketor, and that gives them greater power when deciding where to work and for how long.

The result is that companies are somewhat “lost” in the face of this paradigm shift. They need talent, but they don't really know what to do to attract or retain it.

Luckily, little by little companies are beginning to realize that this problem has a solution. This involves developing a strategy that makes the company an ideal place to work. That makes it attractive for those looking for a job, and also for those who already work in it.

Let's see then what can be done to attract and recruit talent in a labor market that has become very competitive.

Table of Contents

Develop a strong employer brand

What in the Anglo-Saxon world is known as employer branding It is nothing other than the ability of a company to present itself in the market as a good place to work. Something that depends on the reputation that has been achieved in this field.

A company with a good reputation as an employer has a much easier time attracting candidates to its selection processes. Its name is associated with concepts such as good remuneration, professional career development, conciliation measures, etc.

It is a brand that has been able to publicly convey that it cares about the well-being of its workers. But be careful, it is not just about marketing to improve the brand image.

The image you try to project must match reality. Otherwise, the entity will be able to attract talented candidates, but will not be able to retain them once hired, because it will not take them long to realize what is happening.

Having a strong employer brand is not something that is achieved overnight. Behind every company that has achieved this, there is a carefully planned strategy and a lot of investment of time and effort to apply it.

In a very schematic way, here are some of the basic steps to have a solid employer brand:

  • Define the value proposition for employees. That is, create an offer that is convincing for the target audience. To achieve this, you first have to know what people are looking for in companies.
  • Build a solid organizational culture. The starting point to have a good reputation as an employer company is that the organizational culture focuses on creating a positive, inclusive and collaborative work environment. As well as promoting transparency, communication, and potentially personal and professional development.
  • Promote the reputation of the company. Brands have to “sell” themselves in the market, even if they are employer brands. Therefore, we must look for strategies that make it possible for society as a whole to know what it is that company does that deserves the title of a good place to work.

Implement employee referral programs

We are in the era of digital transformation, and this has greatly streamlined the selection processes. However, at a time when companies are having trouble finding talented candidates, it may not be a bad idea to revisit classic formulas such as word of mouth.

An organization's workforce is made up of people who have trained and worked in different places, and this is something that the company can take advantage of.

A referral program is based on give employees the opportunity to put the company in contact with professionals who they know can fit within the profile offered. To boost these types of recommendations, some companies are giving rewards to those who have brought the candidate who has been successfully hired.

However, if employees know that your company is a good place to work, and your company is willing to listen to their opinion about potential candidates, workers will not need any financial incentive to encourage them to recommend people they know and who they know are suitable. They fit well the profile you are looking for.

One way to give structure to this procedure is as follows:

Communication and promotion

First, the company communicates the existence of the program to its employees and Explain what type of candidates you are looking for, as well as the incentives offered to the employee who refers the candidate who is finally hired.

Candidate identification

From that moment on, employees begin to search within their personal and professional network of contacts for candidates who fit well with the vacancy. You can find them among former classmates, former coworkers, family, friends, friends of friends, etc.

Candidate recommendation

The easiest way to do this is for the employee to recommend a potential candidate through a form that will arrive directly to the Human Resources department. From that moment on, it will be the recruitment specialists who will determine how the process continues.

This evolution of the word-of-mouth technique to search for employees has in its favor that it improves the quality of the candidate profile. Why are trusted people, recommended by someone who already works in the company.

Additionally, when a person is hired through the referral of another colleague, their retention rate in the company increases.

To this we must add that this reduces recruitment costs and strengthens the commitment of staff members to their company. That they feel more valued when they see that the company trusts them when it needs to hire new staff.

Participate in recruiting and networking events

Companies often participate in events where they can find potential clients, suppliers and even investors. But they don't pay the same attention to recruiting and networking events, and this is a mistake. Because it turns out that these are eThe perfect place to attract talent and establish valuable connections within the labor market, as well as to enhance the employer brand image.

The key to success is preparing to attend events such as university fairs. You must have promotional material and send representative and well-informed employees to the event, so that they can interact with attendees and answer their questions in a professional and enthusiastic manner.

It is interesting that this presence is as active as possible. That is, it should not be limited to a mere informational stand, it must be noticed. To do this, you can take part in additional activities such as networking sessions, informative talks or discussion panels. The objective is to generate an impact on potential candidates in a more personalized way.

If talented professionals are not applying as candidates at that time, because they are not interested in the position or a job is not being offered, it is interesting to take advantage of the established contact line to inform them in the future about vacant positions.

The participation of companies in recruitment events is rare, at least in Spain and, precisely for this reason, it is also a good idea to differentiate yourself from the competition and present yourself as an employment option for those looking for work.

Finding talent and retaining it is one of the great challenges that companies face today. To address it, it is necessary to have a strategic and multifaceted approach which includes tasks such as improving the employer's image, promoting employee referral programs and participating in employment-related fairs.

In this new paradigm, companies can no longer sit idly by and wait for talented employees to knock on their door because they want to work there. It's time to go out and find them and convince them that this organization is the best place to develop their career.

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