A Match That Lasts: Finding the Best Job Fit for Employers and Candidates
While hiring numbers are strong, both the number of employees voluntarily leaving jobs and initial new unemployment claims are high. We’re seeing a massive number of these separations about 90 to 120 days after the start of a big hiring surge in April. With 10 million open jobs, “Help Wanted” signs on display and labor shortages across the nation, it stands to reason that businesses would be hesitant to release employees right now. So, what’s the rest of the story about why we’re seeing so many employee exits and job-hopping?
This is a compound situation that is having a tremendous impact on hiring and retention. First, 35% of current employees searching for a new job are looking for better compensation and benefits or more flexible work conditions. Offering a market-competitive salary is a given. An employer must have the right compensation to attract and keep talent, but even with many employers raising wages, employee turnover continues to be a concern. Let's take a closer look.
Early Alignment Is Key
The 90- to 120-day window is typically a probation period for both the employee and employer to see if the candidate, the job and the organization are a good fit. If there is no alignment early in the process about the requirements and skills needed for the role as well as expected success measures, this is the timeframe in which you will see separations.
Expectations must be met on both sides. So, let’s talk about matchmaking for a minute. Yes, that traditional process of finding people that fit well together.
For any given job opening there is typically a written job description. Job descriptions serve as a reference during hiring and HR or hiring managers will look through candidate resumes for a match. Advanced AI may even be applied to vetting candidate resumes to find that most closely match keywords within the job description.
But is the job description clear about what is really required – hard and soft skills – to perform well in the role? Has the employer told their story – articulated why they do what they do – to attract purpose-driven people to their organization?
A thoughtful approach to crafting the right description for each role requires an investment of time and energy by the hiring manager to ensure responsibilities and qualifications are clearly described. However, companies will often resort to an existing job description or find an example with the same or similar job title to save time and get resumes flowing in.
Unfortunately, this approach typically neglects to capture the uniqueness of the specific job, company and industry. Add to this the fact that when workers change companies or industries, they bring their experience and pre-conceived understanding of a role with them. Even with an identical job title and a standard list of requirements, a role will likely be unique to each company and possibly very different between industries.
Improve Your Hiring Outcome
Like any project, hiring to fill a given position will benefit from a clear project plan; sufficient preparation in the planning phase typically results in cleaner execution and better results.
Time and attention to detail spent at the beginning of the process to define the roles and responsibilities envisioned for a position and determining how to measure success will improve the outcome of the hiring process. Unless there is a clear understanding of the role, both parties might be headed for disappointment and an ineffective short term of employment.
Our LaborIQ® customers tell us they appreciate having a talent tech tool that provides a solution for both determining competitive pay specific to a role and location and for creating a customized job description. They then can present a customized job and compensation profile to a client or candidate in a white-label branded report.
When working from a strong foundation of accurate job representation and a salary based on market data and supply, recruiters, hiring managers and talent acquisition leaders can confidently place or match candidates to the right job, at the right pay.
Today, the labor market is experiencing a complicated dynamic of workers seeking and finding higher wages and flexible working conditions. In addition, millions of workers are exiting or switching jobs at a rapid pace. This is having a significant impact on hiring and retention. Offering market-rate accurate compensation and providing a detailed, customized job description that is carefully discussed with the candidate not only facilitates better hires but helps make an employer-employee match that can last.