Good talent is hard to find.
That’s especially true in a competitive market, and even more so when you’re a company in an industry that requires a specific skill set and expertise.
For example, in the UK 64% of in-house recruiting teams reported that talent scarcity was a major issue, according to the 2019-20 UK Candidate Attraction Survey. The issue is even more severe in industries that require specialized expertise, including engineering, architecture, construction, manufacturing and healthcare, where over 70% relayed the same issue.
To further compound these challenges, 2020 flooded both employers and jobseekers with an exceptionally unrelenting barrage of obstacles, from the COVID-19 pandemic forcing an abrupt mass change to the ways of working, to the economic uncertainties borne of the geopolitical instabilities such as Brexit or the US presidential elections.
So how are companies to connect with the talent they need?
Lean on Your Existing Employees
The ideal candidate is already out there–but there’s a high chance they’re already talking to another company and will be off the market in 10 days. Companies need to do more than just advertise positions on job boards such as Indeed or social media networks like LinkedIn and hope for the best; they need to be more proactive in their approach.
An easy way to do that is to leverage existing employees’ networks to supplement the recruitment team’s efforts. As a built-in pool of brand ambassadors, they’re not only already likely connected to a number of viable candidates in their fields, they’ll also serve as trusted insiders that can give potential candidates an authentic insight into their companies, which will make them more likely to consider applying for a position.
Make People Want to Work for You
In today’s cut-throat job market, a great employee experience is a non-negotiable for potential recruits. To attract world-class talent, companies must holistically examine and re-evaluate what they offer its employees to create a positive and nurturing company culture–77% of employees surveyed by Glassdoor in the US, UK, France and Germany said they would consider a company’s culture before applying for a job there.
Many things make up a positive company culture. It’s not just pay and benefits (though these are still important and must be competitive); they can also include having a clear training and career-pathing program, following a diversity and inclusion commitment, and having a clear mission. Perhaps most importantly in a post-pandemic, companies must offer flexibility; 75% of employees prefer flexible working and 69% believe that working from home encourages productivity, and even incentivizes them to stay in a job longer. Offering flexible working arrangements gives employers a real advantage among potential candidates.
Look Beyond Your Borders
It’s simple math: the wider the talent pool, the more likely it is to find the perfect candidate. While in the past companies have focused on finding talent near their physical offices, the grand, months-long experiment in telecommuting that the pandemic forced upon most businesses has proven that remote work is not only viable but also effective. In fact, a survey found that productivity actually increased by 47% and more than half of business leaders plan on allowing most of their office workers to work from home at least one day a week post-COVID.
Having a literal world of talent to choose from opens many doors for businesses; it increases diversity, brings in fresh perspectives and ideas, and enables them to potentially explore and enter new markets that were previously not a possibility. But employing workers in other countries also brings with it new hurdles, from logistical ones such as navigating time zones, to more complex ones such as setting up local legal entities, navigating often complex international labor and tax laws, and ensuring job benefits are competitive for local markets.
Partnering with an Employer of Record (EOR), like Elements Global Services, can be the key to bypassing these challenges. EOR services facilitate working in countries where a company does not already have an entity, providing cost-effective yet holistic HR infrastructures and services, as well as expertise in payroll, benefits and visa and global mobility.
Elements helps businesses meet their and their employees’ needs in more than 135 countries, with dedicated teams taking on everything from immigration, to onboarding, to payroll and benefits administration. Not only does this make global expansion more affordable and easier, but it also allows companies to focus on identifying and acquiring the talent they need in competitive markets.
About Elements Global Services:
Elements Global Services is an award-winning HR technology & services company. Elements provides employment solutions in over 135 countries – covering everything from payroll, benefits, HR, local compliance to visa & mobility. Headquartered in Barcelona, Spain, Elements has a global network of offices and employees delivering innovative solutions to its growing customer base. Elements’ Direct Employer of Record model helps companies expand, onboard, manage & pay employees worldwide. Visit www.elementsgs.com, LinkedIn or Twitter for more information.