You’ve heard about ‘The Great Resignation’ across social media and news sites. What does it mean practically? A rush of mid-career tech talent is flooding the marketplace.
The numbers are staggering. Bankrate’s August jobseeker survey revealed 55% of Americans expect to search for a new job by August 2022.
Of that massive group, tech professionals have the highest turnover rates. Why? According to the Harvard Business Review, “resignation rates were higher among employees who worked in fields that had experienced extreme increases in demand due to the pandemic, likely leading to increased workloads and burnout.”
Hiring teams can use this job market to their advantage. Although the competition for top talent is fierce, companies can bring in new members if they use the right tactics.
Take some time to consider industries in the highest demand over the last year. EdTech boomed. Virtual collaboration tools were more critical than ever. MarTech and AdTech, already in high demand, continued their ascent.
Hit LinkedIn and search for those hot companies. Look for tech talent who has been with the organization through the pandemic. Send them a connection request and a persuasive argument about your job opening.
Build an employer brand
If you want to lure A-players to your organization, they need to understand why it’s great to work with you. Employer branding is almost as important as your customer-facing brand.
There are simple ways you can show what it’s like to work at your organization. Share content on social media. Create a page on your website dedicated to your benefits, perks, and opportunities for growth. After you’ve spoken with a candidate, send them collateral that includes a profile of your company. Include how many people work there, what type of people work in your organization, and your values.
Employee testimonials are helpful, too.
Sometimes the best way to find passive talent is to read business news. If an organization is getting bad press for employee conditions, poor leadership, or suspicious activities, talent could be ready to find a new place to work. Other companies may shut down unexpectedly, leaving good employees in need of a different opportunity.
Capitalize on these events. Use LinkedIn to reach out with an empathetic message.
When it’s time to extend a job offer, companies must plan carefully because, in most cases, candidates have several other options. In this market, hiring managers need a strategic approach to securing acceptance. Try these tips when presenting an offer:
- Do not send an offer over email. Call the candidate on video or phone.
- Explain your position on COVID: vaccines, testing, and face-to-face gatherings
- Find your candidates’ career aspirations and include them in the offer.
We’ve written extensively on this topic, read some of our other suggestions here.
Partner with an executive recruiter
We are admittedly biased with this recommendation, but after working with more than 2000 hiring teams, we have built a proven process to find and lure elite talent.
Extending a job offer is an art and a science. In this market, when counter offers and multiple offers are commonplace, a recruiting firm can help you deftly maneuver through the path. Another perk of working with a recruiting is access to their network of talent.
Hiring in The Great Resignation
This is an unusual hiring market. The Wall Street Journal reported, “10.4 million unfilled jobs at the end of August, exceeding the roughly 8.4 million unemployed Americas looking for work.”
There are millions more jobs than people in the workforce wanting to fill them. We can help you find technology talent to drive your business forward. Contact us to learn more about our proven recruiting process.