A Hiring Crisis - Deepstash

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A Hiring Crisis

A Hiring Crisis

For the first time since 2008, volume is missing from high-volume hiring, leaving most organizations using traditional recruitment strategies unprepared. As a result, employers are now having to quickly adapt to the current situation — with no true guideline for doing it the right way.

Companies are consequently increasing wages, offering sign-on bonuses, and covering tuition fees in a bid to get candidates through the door and to keep hold of current employees. And yet, all over the world, the talent pools for hourly roles continue to dry up.

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MORE IDEAS FROM THE SAME ARTICLE

The heightened risk of getting sick, along with low wages, inflexible work schedules, and the increasing number of remote vacancies are all contributing to the talent crisis affecting the high-volume hiring.

But the lack of candidates for hourly jobs, which are mostly entry-le...

In the current context, the lack of candidates at the top of the funnel seems like the most pressing problem. Yet if we look beneath the surface, we see that across industries, companies in the high-volume-hiring space are struggling with high attrition, poor-quality hires, and high drop-off rate...

  • Matching. First, matching should help you identify the right applicants, as well as get them excited about the role.
  • Automation. In a tight labor market, you want a process that’s quick and enables you to offer job security as fast as possible.

Traditionally, attraction and selection have been treated as two distinct challenges. Companies have always benefited from high volumes of candidates, so they rarely had to worry about not having enough talent to choose from. 

Now, as talent pools shrink, employers realize that this approac...

Selection processes, whether powered by a single recruiting platform or multiple tools, tend to be linear in how they screen out candidates. A candidate needs to meet the threshold set for each stage to progress to the next. However, in a rapidly-changing labor market, this approach sets you up f...

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Because of social distancing, many companies are pulling back on national or global advertising. They started limiting their geographic search and are now looking locally first.
This could be good news for internal candidates, many of whom are getting a closer look.

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The online job application process

Online applications can take hours of candidates' time when applying for a job. While some firms are moving away from these online systems, many companies move towards them.

A recent survey states that 73% of businesses of all sizes use talent acquisition software to source, track...

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Rejected Internal Candidates End Up Quitting

In most cases, internal job applicants who are rejected end up quitting: research indicates they are nearly two times as likely to leave their organizations compared to those who were either hired for an internal job or had not applied for a new job at all.

The lost produ...

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