If you work in the recruiting space, you know that we’re facing a particularly tight labor market at the moment. In Monster’s 2018 State of Recruiting Survey, 67% of recruiters said their job was more difficult than it was five years ago. Furthermore, 59% of recruiters said it was more difficult to get quality candidates than it was just a single year ago.
And unemployment has only gotten lower since 2018.
Let’s Face It – There’s Not Enough Talent to Go Around Right Now
Its little secret why recruiting is so difficult at the moment. We’re facing a historic labor shortage. Recruiters have the odds stacked against them.
Here’s some statistics from a recent article in The Wall Street Journal:
- For the past 17 consecutive months, job openings have exceeded the number of unemployed individuals
- Difficulty finding qualified workers has been the #1 problem reported by small business owners since January 2018
- There were 1.2 million more job openings in July than there were unemployed individuals
If we’re searching for a candidate with all the right qualifications, experience, and credentials, we might be waiting a while. In order to fill placements in a timely fashion, many companies are thinking outside the box and pursuing alternative strategies.
That includes searching for professionals who may be ready for a promotion into your open position.
What If We Started Looking for People Who Are Ready to Move on Up?
We all know that in some circumstances, the cost of leaving a position open is greater than the cost of hiring someone who needs some training. All too often, recruiters search for someone with the exact same title as their open requisition. Going a step further, they may search for someone with a different title but of roughly equivalent rank. However, with today’s talent shortage, we can’t always find someone who fits the bill.
Many companies are now turning to hire someone of a lower rank who is ready to move on up. For example, if we’re trying to hire a finance manager, we might search for financial analysts with enough experience under their belt.
In many cases, these professionals are more than ready to get a promotion and take on new responsibilities – they just haven’t been given the chance at their current employer.
Better yet, these professionals are often highly receptive to messages from recruiters about higher positions – making your job easier.
Org Chart Mapping Makes This Easy
If we know the reporting structure of a competitor, our work as recruiters is cut out for us. To continue with the finance example, we could look at all of the analysts reporting to finance managers. From there, we could cherry pick the most experienced and qualified analysts for a targeted outreach approach.
That way, we’re focusing our efforts on candidates who are prepared for success in our open position, rather than spending hours and hours separating the seed from the chaff.
Of course, getting an accurate, up-to-date org chart from our competitors can be the tricky part. Here at Qualigence, we routinely help organizations with org chart mapping services to aid their recruiting efforts.
To learn more about how this research service can empower your recruiting team, get in touch with one of our solutions consultants today.