Labor market, albeit conceptual is seemingly one of the quickest developing markets in humankind. Consistently, more and more people start up businesses, employ more people or get employed.
However, there are certain things you need to know about it. If you intend to get maximum success or you’re new to the labor market, this article is for you. For entrepreneurs, there are certain things you need to understand.
First, there is labor shortage. Most of the time, entrepreneurs have issues with getting the right employees. They are either not competent enough, they constantly lose the promising candidates or the eligible ones do not have the required skills.
Thus, to address this situation, you may have to work using another method. So, in this light, here is a bit of advice for companies searching for the right candidates.
In a Labor Market, you are never the only individual existing
Organizations (small or expanded) always have this illusion that they are the only ones who can offer jobs. In fact, they even think that a lot of people are looking for jobs, so they can give them what they have. However, this is totally untrue. In fact, if you are stuck with such thoughts, you’re likely to get more and more candidates who are not fit for the job. Most companies should realize that this is 2017 and a lot has changed. In fact, a lot of companies that are sprouting up are looking for the same candidates as you. Sometimes even willing to pay extra.
A candidate will most likely go for the companies with a better offer. Although you may have a better track record and even longevity, most candidates will still stick to my earlier statement. Also, you need to understand that a candidate does not just send applications to just you alone. In fact, it is you and a billion other companies.
Be Faster About Recruiting
The moment you realize that a candidate is right for the job, hire him/her. Do not start waiting for donkey years before you finally employ such an individual. This is totally so 1980. Candidates may end up losing faith or even get an employment letter from another firm. So, if there are ways where you can speed up the process, it will be really good.
For example, a man once applied for a job. It took them more than two months to hire him. He was interviewed over 5 times by at least 30 people on different days.
Companies need to understand that sometimes, even the candidates are already in another company, but are looking for better options. Thus, they usually have to take permission sometimes from these other companies they work at. Bottom line is, the longer you stress out a candidate, the less likely the candidate will accept your offer.
Stop Looking For “Candidate Perfect”
A lot of companies have this “ideal” candidate. However, this is the reason to create pieces of training to have an employee that will fit into most of your criteria, if not all. Thus, its best to stop looking for what does not exist. A lot of companies are looking out for a candidate that has the “right” everything. So, this person has to have all the right experiences, skills, degrees. Yet, they are not willing to pay as much for such skills.
As it is alluded to the exchange, quit searching for unicorns. They are not existing. In this way, if you follow this little piece of information, you are sure to having peace of mind in the labor market.