5 Tips for Hiring in a Candidate’s Market
Recruiting trends this year have proven that it is most definitely a candidate’s market – the surplus of opportunities and lack of qualified candidates gives those who are qualified a great advantage. This is especially true in real estate, where business is booming and the need for assistants and administrative staff has increased. Experienced candidates are in high demand, and as a result they’re receiving multiple job offers, meaning they hold the power to negotiate more favourable terms and accept a position based on preference rather than necessity. If you’re looking to hire talent, you need to make your position and your team/company stand out.
Here are 5 Tips to make you stand out:
Invest in a Recruitment Agency
We may be biased on this point, but there truly is value in hiring an agency to help with your recruitment needs, just as there is value in hiring a realtor to help you buy or sell a home. Like you, we are experts in our field. We understand the market, what candidates are looking for, and what types of candidates are well-suited to different roles. As an agency, we take the time to actively recruit and carefully select, screen and interview candidates. We also guide you through the entire interviewing and hiring process. As a busy realtor or manager, you may not have time to do the due diligence required to make a great hire. We can help.
Be Clear with Job Expectations
We often see a lot of flip-flopping over what the expectations of a role might be. While this is definitely understandable, taking the time to sit down and carve out a concise job description can save time in the end. Knowing exactly what you are looking for will make it much easier to find the ideal candidate for your position.
Offer a Competitive Salary
Cost of living continues to rise, especially in larger cities as we attempt to recover economically from the pandemic. Offering a fair and competitive salary will attract those who are serious about their career path. A lower salary will attract a lesser qualified candidate. Further, if you offer a salary that is lower than or at the bottom end of the market rate, they are unlikely to stay with you long-term – they will be tempted to accept a similar position elsewhere offering a higher rate of pay.
Offer a Plan for Growth
Every candidate is interested in knowing there is opportunity for growth in a new role. We often have candidates come to us who were promised one thing but have been shown another. Offering a clear path to growth will ensure that you attract an excellent employee. Someone who’s focused on their continuous growth and development, and who knows there is a plan in place for them to grow/advance in your company, will work harder, feel more fulfilled, and stay longer.
While you deliberate over whether you want to interview the candidate or not, they may already be moving along in the process with another company and may accept an employment offer before you even schedule your first interview with them. We have seen this happen innumerable times this year! You need to act quickly.
As the new year quickly approaches, most realtors are in process of business planning for 2022. Take the time to sit down and create a plan for your hiring needs. At AGENTC, we specialize in matching candidates with clients in the real estate industry. We place positions from entry level receptionists and client care managers to experienced broker/managers. Reach out to see how we can help you build your winning team.