Georgia Labor Commissioner Mark Butler announced yesterday that Georgia’s unemployment rate for May hit an all-time low of 3 percent. The unemployment rate was six-tenths of a percent lower than the national May 2022 unemployment rate of 3.6 percent.
This trend is causing the state to experience a very tight labor market, which means people who want to work are working. And wages are increasing at an accelerated rate as employers compete for talent.
Small business owners are struggling, but they can compete IF they have the right culture, strategy, and sales pitch. Here are ten tactics to make your strategy work.
How to Attract Top Talent In a Tight Labor Market
1. Beef up your job description.
When employees have options, making your job description and posting stand out is essential. Point out exactly what makes your business unique. Be sure to stress growth opportunities. Brag on your brand and share what you contribute to the community. Make the job sound like the beginning of a rewarding career.
2. Review job requirements.
Can you offer training rather than requiring experience? How flexible can you be? Are you keeping an open mind when interviewing?
3. Consider outsourcing rather than hiring.
Contract labor or freelancers may be a better answer in some cases. And outsourcing administrative tasks such as payroll and HR is always a good idea.
4. Overlook gaps.
The pandemic created circumstances where people had to drop out of the workforce for a while. Therefore, be understanding and keep an open mind when evaluating candidates with gaps in their resumes.
5. Recruit from a variety of outlets.
Post your positions on popular online job boards. But also share them on social media, your business website, and by word of mouth through your existing employees and loyal customers.
6. Create an employee referral program.
Offer financial rewards for team members who bring in successful new hires.
7. Pitch interviewees on your business.
Devote some time during interviews to promote your business brand and culture. Talk about the benefits of working with your team and what growth opportunities your new employee will enjoy.
8. Interview with multiple positions in mind.
Don’t burn bridges with rejected interviewees. Perhaps the interviewee will be a better fit for positions you have to fill soon. Keep in touch!
9. It’s time to poach.
If you get excellent service from an employee at a local business, take a moment to ask if the person is interested in making a career move. Remember, use your best sales pitch here!
10. Promote from within.
Whenever possible, help your employees move up by providing the proper training. When employees feel they have opportunities for growth, their performance, and loyalty increase.
Boost Employee Retention
Once you’ve found the right employee for the job, make sure your business culture fosters loyalty. We can help with that!!
- Here are some helpful tips for orientation.
- Utilize our New Hire Checklist for proper onboarding and orientation.
- And tap into our HR support team and online compliance database, where you’ll find a complimentary employee handbook builder.
- Provide your employees with the online tools they need to access their data, request time off, and more.
- Provide training through our online Learning Management System.
- Subscribe to our Connections blog for more tips on employee engagement and retention.
- Connect on LinkedIn and keep in touch.