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Talent Talk: How to Prepare for the Coming Labor Shortage
First, examine your interview process — it’s the top non-compensation factor that candidates consider when making a decision.
Paul Sturgeon
November 18, 2024
2 Min Read
Candidates want to feel valued at work, and the job interview is their first glimpse into a company's attitude toward employees.verbaska_studio/iStock via Getty Images
Over the past several weeks we have discussed the longer-term hiring challenges US manufacturers will face, as the population grows eight times faster than the workforce in less than a decade. Fortunately, that storm is still well offshore, and companies have time to prepare.
Attracting top performers
One of the things you can do in the short term is look at how you attract top performers, those you would most like to add to your team. As the labor markets have swung from an extreme candidate-driven state to a more neutral one, there will be opportunities to land some good people.
Still, if they are open to exploring new roles with other companies, those people will have options. Two years ago, they may have had twice as many choices, but we will never go back to the days when qualified applicants were lined up across the room and out the door. So, if they have a choice, how do they choose among organizations?
A recent Gallup survey of those who changed jobs during the past year revealed that the number one non-compensation factor that had the greatest influence on their decision was the interview process, cited by 44% of those surveyed. If the candidate did not rate their interviewing experience as at least “good,” there is an 89% probability that they would not accept a reasonable job offer. You really want their response to be “exceptional.”
Hiring process reveals company culture
Candidates are constantly analyzing the company culture during the hiring process, with interviews being a major part of that. The hiring manager might be an expert in co-ex films, ISBM, or masterbatch, but so is the hiring manager at the competition. Candidates choose organizations that they believe will treat them as valued employees, and if you cannot do that during the interview process, they assume, both consciously and subconsciously, that it won’t get better from there.
Next week we will discuss some specifics on how to make the interview process exceptional for your candidates, but a lot of it boils down to common sense, and the adage of treating others the way you would like to be treated.
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