“A strategy, even a great one, doesn’t implement itself” – Jeroen De Flander, Author
In the past two years, the market has seen a new trend take over where the recruitment industry has shifted from client-driven marketing to candidate-driven marketing. This shift was caused by multiple factors. One of these reasons was the ‘Great Resignation of 2021’, which saw a massive number of employees leave their jobs for something more suitable to the pandemic conditions.
This forced employers to revisit their recruitment strategy and change it to focus more on the needs of the candidates. As a result, there arose more candidate-centric opportunities with better benefits for those looking for jobs. This is how the recruitment playing field was levelled, putting the needs of the candidates on par with the needs of clients.
This only explains the shift in focus, so you must be wondering what it has to do with passive candidates. That is exactly what we are going to explore in detail in the following points. We will also go over the benefits of hiring them and a few ways you can optimize your recruitment strategy.
Approximately 70 per cent of the active global workforce consists of passive candidates
How Do Passive Candidates Fit into the Picture?
A fascinating fact is that passive candidates make up approximately 70 per cent of the active global workforce. Knowing this, if you have an effective strategy to access this large pool of talent, you would be leading the race for securing top talent.
Credibled’s state-of-the-art reference checking software has a lead generation feature that can help you reach these candidates. After completing the reference checking questionnaire, referees will be asked if the company they are working for is looking to hire or if the referee is looking for a job. This is a way for recruiting companies to get potential job orders and attract passive candidates that are present across job boards.
Since the marketing efforts are now favouring candidates more than before, it will be a smart move to target the talent pool that has the most potential. Let’s take a look at the benefits of hiring passive candidates.
“However beautiful the strategy, you should occasionally look at the results”
– Sir Winston Churchill
What Are the Benefits of Hiring Passive Candidates?
The main reason to target passive candidates is that they have a proven track record of skills. Passive candidates are less likely to need extensive skill development to bridge the knowledge gap for the role. These are the qualified individuals that you want to engage.
Gaining access to this talent pool would also mean that you save on time and resources. This is a better way as compared to spending time training someone new. As an additional bonus, you can also get a faster return on whatever investment you make.
Coordinating with a hiring manager can make your search for passive candidates efficient
How to Optimize Your Passive Candidate Recruitment Process?
Now that you know why you should target passive candidates, you have to plan your strategy. Here’s how you can optimize your recruitment process.
1. Familiarize Yourself with the Target Demographic
When hunting for talent in the passive candidate pool of potential employees, you are looking for the top talent to fill a given role. You need to keep in mind that you will face competition in this field also. The most important factor to remember is that you need to give the passive candidate a good enough reason for them to leave their current job if they are employed.
Researching your demographic and getting personal with them are great ways in which you can learn what they are looking for. These factors will not only give you insight into what kind of candidate they are but also convey that there is potential for development if they join your company.
2. Coordinate with the Hiring Manager
For this pool of candidates, you need to keep in mind that they may not have time for a lengthy hiring process. Make sure you have your hiring manager’s help to make the process more efficient. The hiring manager also needs to ensure that they are available at a moment’s notice to answer any questions that the candidate may have. With the help of a hiring manager, you can bridge the gap between what you want and what will work.
3. Get in Touch with Past Candidates
One of the best places to find passive candidates is to go through your contact lists. Someone you interviewed in the past may not have been qualified for the job back then, but with time, they may have attained the required experience. Some may also have become experts, so it is well worth the try. An added bonus is that they were once interested in your company and they know what to expect.
4. Look Beyond Traditional Job Boards
Traditional job boards may not be the best place to find passive candidates. Consider looking at new and innovative venues such as social media platforms, universities, and so on. If you haven’t already, start a referral program through which your recent hires and current employees can do the networking on your behalf.
5. Timing and Approach Have to be Perfect
Although passive candidates may not have the time for a lengthy hiring process, they won’t respond well to a hurried one either. You have to consider that most of them may already have jobs, so getting the timing right is crucial. Once you figure out the timing, you can work on your approach.
The conversation should be more focused on the candidate and what they need as opposed to what the company needs from them. This will show them that the company values them and wants them for their skills.
6. Offer Them Something New
This is a common but effective solution to attract the talent you need from the passive candidate pool. Offering them something they want but don’t have is a great way to tempt them into joining your organization. Look at their current company’s salary structure, work culture, growth opportunities, and so on, to identify what you can offer to attract them.
7. Establish a Strong Online Presence
The virtual aspects of your brand are just as important as the real thing. This can be accomplished by either starting a company blog, updating your website and social media platforms, or whatever you feel contributes greatly to attracting the top talent to your company.
The post-pandemic era also has brought about a demand for a hybrid work model for the type of candidates that can work remotely. Revisit your hybrid work policies to ensure your work model can provide high levels of employee satisfaction. This will work wonders in attracting top talent from the passive candidate category.