Where Do You Stand in the Job Market As An Employer?
Key Question: How do you measure up to a job seeker?
The unemployment rate is still over seven percent nationally, but don’t be fooled. The unemployment rate is minuscule for well educated workers. It’s 3.8% for those with a bachelor’s degree and much lower for people with advanced degrees.* The competition for the best talent is fierce, and it will get even tougher to recruit, hire, and retain the best talent as the economy picks up speed. Companies who want to succeed in the job market need to take a hard look at their recruitment and retention efforts.
Where are you in the job market? How do you stack up against your competitors?
Be proactive and ask yourself these key questions:
- How competitive is our compensation?
- How do we use titles?
- How do we approach work/life balance issues?
- What professional development opportunities do we offer?
- What additional perks do we offer?
- Do we accommodate the best candidates and performers if they want to work remotely?
- How do people view our brand online?
- How long or laborious is our recruiting process?
Drill down on these questions to see if you are competitive in your local job market. Need help? The easiest way to do this is to speak with a recruiting firm you trust, as we can offer you up-to-date market knowledge. Next, define your goals and make a change if needed. Firms that don’t evaluate their own practices and brand risk losing top talent. With so many accolades and awards given out for Top Workplaces, it’s important for you to make sure your company compares well to its peers in the industry.
Don’t wait for a key player gives their notice to ask hard questions and make changes. Be proactive to be the best.
*Unemployment Source – Dept. of Labor