Mosaic Project in Inc - think globally, recruit globally
As any recruitment professional will tell you, finding and bringing in great talent can be a nightmare. Getting job postings in front of the right eyes, finding sufficiently impressive résumés, and conducting interviews all pose massive challenges, especially when you're trying to fill a vital opening.
At a time when unemployment has dipped as low as 3.8 percent, that struggle can seem insurmountable because the available talent pool continues to shrink. While a low unemployment rate may mean great things for the economy as a whole, it feels like a terrible sign for any company looking to grow its team.
Gaining a Competitive Advantage in a Candidate's Market
The numbers on this are very clear: Unemployment is lower today than it has been for the last 18 years. With the economy recovered from the 2008 recession, new jobs have been steadily on the rise, as April became the 91st consecutive month of job growth (the longest streak ever recorded). Companies in every industry have unfrozen their hiring and opened their doors to new candidates.
With so many businesses needing more workers, candidates have the freedom to pick and choose until they find the best work environment, perks, and schedule for them. And as the competition between businesses rises, the deck is increasingly stacked in favor of candidates.
As in any job market, the key to success is still building a strong team. But how do you do that when competition is so fierce? Here are a few steps to move you in the right direction.
1. Think globally, recruit globally.
The pickings may seem slim stateside, but that doesn't mean the right candidate isn't out there. When the candidate pool is shrinking in your area, put your efforts into welcoming more international talent. Candidates from overseas have both strong résumés and strong work ethics, serving as a comparatively untapped market when the well in the U.S. is starting to run dry.
And recruiting international talent offers more benefits than simply providing a larger pool of candidates for any particular job. Extending the range of diverse voices in your organization can spark innovation, with your entire business achieving greater success as a result.