Talent Supply and Demand in the Post-Pandemic Era - How does it affect your company?

The pandemic has resulted in widespread economic uncertainty, which has led organizations to reassess their talent needs and strategies.

 

We observe a modified form of a candidate-driven market given the idea that active job seekers have decreased and passive job seekers may decide to stay in their current positions. Employers will now have to deal with yet another set of factors imposed by the pandemic (such as health concerns, childcare issues, etc.), leading to an even smaller talent pool.

 

What can companies do to stay ahead of the curve? Find out below!

 

Creating a Safe Environment

 

Some of the most pressing pre-pandemic issues, such as job syndication and how to guarantee the right people see that job posts, will now be eclipsed by issues such as how we communicate and assure prospective candidates that the organization is a safe place to work.

 

Organizations will need to be creative in their messaging to convince applicants that they are providing their employees with a safe working environment, given that many prospective employees are worried about their health or a family member's health.

 

Remote Work

 

This raises a new concern because, according to statistics, work-from-home (WFH) will continue to be popular among many companies in the near future. This is especially true given that many businesses have shifted to a more open working environment over the past five to ten years. Since 2009, there has been a 159% growth in the number of people working from home.

 

Your candidate pool may now be much broader geographically than it was before; therefore you must adjust your sourcing strategies to account for that.

 

Passive Candidates

 

In a talent-driven market, passive candidates are critical to a great talent acquisition strategy. Only 30% of candidates are actively looking for a job; the majority are passive job seekers. You can be sure that passive job seekers will be even more hesitant to make a career shift, given the uncertainty caused by the pandemic.

 

This might prompt companies to reconsider their approach to passive hiring. It's not enough to have a fantastic workplace or benefits; you must now actively interact with candidates to ease their concerns about a job switch for a better career prospect.

 

Marketing Strategy for Digital Recruitment

 

First impressions count, and for the majority of businesses, that first impression is created digitally, particularly for potential recruits. The ability of your procedures and technology to quickly adapt to shifting market demands is essential in today's world, possibly even more so in the post-pandemic context. This will allow your company to attract potential employees in many ways.

 

Your objective should be to provide an excellent virtual candidate experience.

 

Maintaining Your Pipeline Before Demand

 

Don't wait for supply to catch up to demand. Use this chance to aggressively develop your pipeline of prospects and establish connections with people who would strengthen your team and assist your company's growth in the current environment. The best companies always look for high-calibre recruits, evaluate their current personnel, and replace underperformers with better-qualified talent.

 

Even if you aren't currently recruiting, you should still figure out what skills your company needs and build the contacts necessary to attract those people when the time comes. You will be ready with A+ talent that will assist you in navigating and transforming your business to meet market developments.

 

Conclusion

 

The COVID-19 pandemic has had a profound impact on the global economy and the business landscape. As businesses grapple with the new reality, they are faced with the challenge of developing strategies to rebound and grow in the post-pandemic era. Prepare your recruitment strategy now rather than waiting for supply to return to its pre-pandemic levels. One of the best options is to fulfill your recruitment needs with a recruitment process outsourcing like Glocal RPO.

 

Glocal RPO can assist you with all your hiring requirements. Glocal RPO is a recruitment process outsourcing service provider in India and around the world, assisting companies in the United States in finding talent in their own country. It has served major and small businesses with great workforce solutions over the years.

 

To learn more about how Glocal RPO can assist you with your recruitment needs, visit: www.glocalrpo.com