We’ve heard the phrase “It’s a buyer’s market” used for various reasons, most commonly in the real estate industry. In the simplest terms, it means that there is a surplus of products and not enough interested buyers. To jumpstart sales, sellers must develop a new strategy to be extra competitive to attract buyers. Right now, employers are in the middle of a rarity: a candidate’s market.
According to a recent report from the Bureau of Labor Statistics, not only has the U.S. unemployment rate decreased in the past year, but the number of employed individuals has increased. While this trend is incredibly encouraging and great news for our economy, there is an underlying trend that must be considered: With the rise in employment, there is an increase in the number of open positions that employers are struggling to fill. Why?
There are a few factors for this trend: Current candidates are more selective when applying for jobs. Unlike the jobs trend during the 2008 recession, candidates are not applying for just any available position. They are looking for jobs that appeal to their particular needs: remote work, flexible hours, enhanced benefits, and competitive salaries. With an increase in the availability of remote work opportunities, even established professionals are leaving their existing positions for new opportunities to advance their careers. This leaves employers with unplanned vacancies that need to be filled. These trends have created a candidate’s market in which there is a surplus of jobs – and not enough candidates to fill them.
Fast Onboarding is More Critical Than Ever to Get the Candidates You Desire
Just like sellers have to adapt their strategies and become more competitive in a buyer’s market, employers have to rethink their hiring strategy to fill their vacant positions and convince the right candidates to join their team. Although pay and benefits are always factors for attracting candidates, the speed and efficiency of an employer’s hiring practices have an essential impact in today’s competitive market. If an employer’s hiring process stretches out into a long, cumbersome process (and there is a surplus of other open positions), candidates will move on and seek employment elsewhere.
If your organization’s hiring policy includes background screening, drug testing, and occupational health screening requirements, FSSolutions employment screening solutions can help ensure that the entire process is more efficient and beneficial for your company and your candidates with an easy, accessible portal and industry-leading turnaround times.
Workforce Screening Services You Can Rely On
As the leading innovators in the employment screening industry, we are constantly looking for new ways to ensure that our workforce screening programs are the most effective and efficient for you and your candidates. Rather than prolong your hiring process with a series of complex, convoluted, and time-consuming steps, our mobile-optimized platform allows candidates to quickly and easily submit their information, helping to make a positive candidate experience. Rather than require the candidate to physically fill out a form in person or scan it into an unsecured email file (that could be vulnerable to external threats), your applicants can easily and securely submit their information and consent form from anywhere. FSSolutions’ US-based, award-winning Client Service team focuses on turnaround time and data integrity, allowing you to make staffing decisions with confidence.
Our virtual drug testing service allows candidates to take a test using a provided kit for oral fluid sample collection observed through our secure portal from the safety and convenience of their home. We partner with over 15,000 clinic/collection sites throughout the U.S. to ensure a fast and convenient process for other drug and alcohol testing modes and clinical testing.
Offering convenience, greater accuracy, increased security, and an average two-day turnaround for final results, it’s easy to see why FSSolutions’ employment screening solutions will keep your hiring process running smoothly so you can get the right candidate in place quickly and efficiently.
FSSolutions is accredited by the Professional Background Screening Association (PBSA).
To learn more about FSSolutions Screening services and how they can help your hiring strategy in a candidate’s market, Contact Us today!
Notes: Source Material – https://www.recruiting.com/blog/competitive-job-market-tips/