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Talent Acquisition in a Healthy Job Market 

February 6, 2018

Velocity Resource Group is in the business of providing on-demand recruiting services. The VRG team sources resumes, provides telephone screening of qualified candidates, and much more. Though VRG has perfected efficient talent acquisition, the team knows that recruiting will prove more difficult for clients in 2018.

“The difficulty of a healthy market is that applicant numbers start decreasing and investing in the usual resources is no longer enough, as candidates are less likely to respond to job advertisements” says VRG’s Senior Director of Client Solutions, Tyler Simpson.

As the economy grows and unemployment rates remain low, it has become more difficult for hiring managers across industries to recruit talent that are happily employed. Because VRG’s proprietary talent-acquisition-process places its clients, the potential employers, in front of highly qualified candidates and generates interest with passive and active talent, 2018 will prove an ideal time to partner with the recruiting-solutions company.

Low unemployment = Little movement 

Though seemingly counterintuitive, when the unemployment rate is high and there is a lack of confidence in the job market, people look to make career changes to fields that seem more secure. Simultaneously, freelancers may see an uptick in the number of gigs they can take on. Hence the birth of the term gig economy when the financial crisis in 2009 peaked. Now that the unemployment rate is lower than it has been in a decade, people are more likely to stay in current positions. That means it’s more challenging for companies looking to acquire the best and brightest talent and entice potential candidates to interview.

Because companies are going to find it increasingly difficult to fill positions that require highly qualified people, they have to make sure that their candidate experience is on point. According to IBM’s (2017) white paper, The Far-Reaching Impact of Candidate Experience, 58% of candidates who develop a negative impression of the potential employer will not apply with that organization again. The same report indicates that 38% of those who develop a positive candidate experience are more likely to accept a job offer. Looking more deeply at numbers, when negative candidate experiences leave positions vacant, companies, on average, lose $500 a day for each vacancy. In order for businesses to thrive and the economy to remain healthy, such losses have to be eliminated.

Positive experience = Exploration 

Velocity Resource Group is an ideal recruiting solution because they provide exceptionally positive candidate experiences through high-touch phone screening and regular contact on behalf of clients. With average contact rates above 60%, VRG has developed a proven-process that generates interest in new opportunities for passive and active candidates alike. Active candidates are actively seeking employment and make themselves accessible to recruiters, like the professionals at VRG.

In a healthy job market, recruiters have to shift their focus to passive candidates and it can be difficult to convince them to make a move: “These candidates are harder for companies to recruit,” shares Simpson, “the position has to be intriguing enough to risk leaving their current role.” When contacted directly by phone, as a part of the VRG process, a passive candidate is more willing to have an open conversation about what it would take for them to make a move, rather than ignoring or dismissing an email or InMail message.

The way VRG team members communicate with all candidates sets them apart from other recruiting agencies and makes all the difference given the robust state of the market. VRG capitalizes on telecommunication and advances in human resources platforms, they’ve even created the RESflex Candidate Manager System, but understand that nothing can replace real-time human interaction in the talent acquisition process. VRG’s high-touch approach to candidate screening improves the candidate experience by leveraging human interaction to get to know candidates with increased accuracy. Human beings are complex, but VRG knows that making human interaction an essential feature of talent acquisition actually simplifies the process.

Taking action = Moving forward 

Sustaining a healthy job market includes ensuring that employees are compensated well and treated equally. In 2018, if companies want to attract and retain the best talent, they must offer attractive salary and benefits packages and make intentional efforts to eradicate workplace bias—including gender inequality.

No matter the state of the job market and the advances made in artificial intelligence, the relationships we forge and nurture with other human beings are perennial in our efforts to achieve continued professional success. The professionals at Velocity Resource Group are prepared to partner with you for a successful talent acquisition experience that puts clients’ needs first by making your ideal candidate’s experience exceptional.

Learn more about all that Velocity Resource Group has to offer:

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This post was written by Elevate, Inc.

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