Learn how to hire in a strong economy

Good talent is hard to find…especially in a strong economy that is near full employment. 2017 has been a record setting year for our agency in terms of revenue growth and total revenue. We’ve placed dozens of exceptional candidates across the country but we have also lost out on a number of placements because some of the candidates we were working with had multiple offers in front of them. It is a candidate driven market right now and competition is fierce for the best candidates.

We recruit in Biotech, Engineering within Heavy Industrial, and Banking. Near 100% of the candidates we work with are gainfully employed and close to 70% of those people are not actively looking for work. We’ve had some positions be filled in a matter of weeks when our clients work within a timely process. We’ve had other clients lose multiple candidates due to slow recruiting/interviewing/hiring process.

We’ve joked before about how to hire a below average employees but there are a couple of things you can do to fill your open requisitions in this economy:

  1. Vet the position: Make sure that HR, the Hiring Manager, and Recruiter, have a clear understanding of the position and the type of candidate needed to fill the position.
  2. Move Quickly: When you source or recruit a candidate, move quickly and with intent. Keep the process moving along and communications lines open between all parties.
  3. Sell, Sell, Sell: Sell the position, Sell the opportunity, and Sell the company. You need the candidate more than the candidate needs you. Always be closing throughout every step of the process. You don’t need to be pushy, but you need to keep your candidate engaged and responsive.
  4. Keep Networking: If you are locked in on one or two candidates, be sure to keep recruiting, sourcing, or networking with similar candidates. You might not land your first, secodn, or even third candidate. It is important to keep building your pipeline.
  5. Have a Back-up Plan: Your dream candidate might not exist in your market, or within your compensation parameters. What are the critical skill-sets needed for the position and what can you do to attract candidates that meet those critical skills but lack in other qualities.

If all else fails, or you are looking to be proactive, consider using an external recruiting agency to help get candidates in front of you for review. Even if it is only used as a benchmark against your current pipeline, evaluating talent from an agency might be a wake-up call to internal deficiencies within your recruiting structure. In the end, everyone needs to be working together to find the best candidates. Please share with us any tips you have on how to hire in a strong economy.

Paragon Search Group is a privately owned American recruiting firm specializing in permanent positions in BIOTECH (Process Development, CMC/Reg Affairs, Manufacturing, Project Management, Quality) and BANKING (Compliance, Risk, Credit, Audit, Marketing, Treasury) and MINING (Engineering, Project Management, Operations/Management: plant, underground, mine) for companies ranging in size from startup to Fortune 50 throughout North America.

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