Recruiting in a Tight Market
Candidates in the pharmaceutical industry (API, Contract Manufacturing) and specialty chemical markets are becoming increasingly difficult to recruit because fundamentally business is very good. The result is a slim pool of available candidates. Recruiters (and employers) are finding themselves calling the same candidates for the same positions that have been open for months Companies are doing their best to retain their employees with higher salaries, bonuses, and counter offers.
Candidates (when they are on the job market) have more options and are receiving multiple offers (often counteroffers) from a feeding frenzy of employers.
In this competitive market I feel companies need to continue to look for the “ideal employee” but they also should consider talents that may go beyond what is written on the resume. Rethink the job specifications, consider related skills and accomplishments, and broaden the search. Does the candidate really need exactly eight years’ experience?
When interviewing a candidate of interest employers also need to make faster decisions. Streamline your hiring process. Don’t leave candidates hanging. Be considerate of a candidates’ time even if there is no interest. Putting a candidate on the “back burner” rarely results in a hire.
If interviews drag on there is a more than likely possibility of losing that individual to employer who knows how make quicker decisions.
To overcome these challenges my suggestions is to establish a first and foremost solid communications with the hiring company. This is vital. So instead of running ads, scrolling through job sites, and having multiple recruiters working part time establishing a focused, streamlined, full time targeted search is more likely to reap positive results. A retained (consultative) guaranteed search with an experienced recruiting team (researchers and managers) working and vetting the best available candidates in a timely manner.
My company Abrusia & Associates working on your project 100% of the time is a formula for success.