Your best hires of 2018 are already employed at other companies.
Why? The US unemployment rate is 4.1%, almost a full percentage point below the “healthy” unemployment rate of 5%. “Healthy” unemployment indicates fluidity in the job market; that workers feel comfortable leaving their current job to take a chance finding another.
In other words, the best people for your organization are already employed elsewhere – and they’re not really thinking of leaving.
The New Candidate Experience: Removing Barriers to Employed Candidates
For the past few years, conversations around candidate experience focused largely on corporate reputation. “Candidates are customers” is a well-documented phenomenon, and a poor candidate experience can definitely impact a former candidate’s willingness to buy.
This is still important. In last year’s Candidate Experience Research Report, 41% of surveyed candidates who gave their experience the lowest possible score said they would be more inclined to take their business to a competitor. 64% who gave their experience the highest score said they planned on increasing their buying relationship with the employer.
But in 2018, when a record number of people are already employed, a great candidate experience is not so much a reputation management tool as it is a hiring necessity…