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Thrive Amid the Great Resignation With Career Marketplaces

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One in ten seats in your office is empty, as per Josh Bersin’s estimates, and that’s in the US alone. This is part of the scenario that the Great Resignation has brought on. As we find ourselves in the midst of a phenomenon challenging many industries across the globe, the need to showcase your employer brand and attract the talent your organization needs is more important than ever.

As competition for the best candidates in the market ramps up, recruiters are looking at new and intelligent ways to refine their talent acquisition strategy to provide potential hires with an experience that’ll make your organization stick out from the crowd and keep candidates engaged throughout their search.

Creating a captivating career marketplace that features not only your current job openings but also all the elements of your EVP that candidates put under the microscope can help you win over the talent you need.

Competing in a Candidate-driven Market

We’ve seen workers of all ranks say goodbye to their employers at an impressive rate in the last few months. It is important to ask why, not least because the answer can provide vital clues into how recruitment teams should be positioning themselves to attract these candidates.

According to the Harvard Business Review, resignations were highest in employees between 30 and 45 years with an average increase of more than 20 percent between 2020 and 2021, with significantly more employees quitting from industries such as tech and healthcare.

It emerged that the reason behind this is that employees in those industries that had the highest demand during the pandemic were most likely suffering from burnout and looking for a change. On top of this, second jobbers with experience were preferred candidates to graduates by recruiters when entering a remote working environment.

This heightened demand has put these candidates firmly in the driving seat and subsequently increased the scrutiny with which they assess their next employer, honing in on areas such as diversity, remote working and work-life balance.

As such, HR teams need to be sensitive to this and take an honest look at their company values and what they represent. Then plan how to communicate that through a career marketplace while providing candidates with a stellar experience.

Revamping Your Career Marketplace With AI

It is a well-known fact that candidates expect to find their next job the same way they shop for consumer goods, which is why the dated approach of posting an opening and waiting for the magic to happen is not the best way to go. If anything, the Great Resignation has only intensified this trend, so talent acquisition teams need to go above and beyond to ensure candidate conversion.

The great news is that there’s plenty of room to see artificial intelligence and talent acquisition work in tandem to achieve this goal. Let’s look at an example that brings this to life.

L’Oréal is a brand that excels at helping potential applicants find their fit through a personalized experience. It makes the most of Avature’s AI-powered career marketplace to impress visitors:

  • Live suggestions help by expanding their search as they start typing keywords. Our powerful algorithms can also convert phrases such as “Bay Area” into geolocations that align with their employment interests.
  • Candidates can upload their resume and get job recommendations based on criteria such as skills, work experience and qualifications.
  • They can also get suggestions based on their browsing history, which delivers further customization. For example, if a visitor clicks to see openings in the finance department, when they go back to the career site home, the job recommendations they see will be related to finance.
  • Semantic search intelligently expands search queries and improves search results, ensuring visitors find exactly what they are looking for.

Telling a Captivating Employer Story

Engaging potential hires on your career marketplace with multimedia resources can also help with conversion. You can kill two birds with one stone by including audiovisual resources on the topics that candidates find most interesting, and by providing virtual experiences that give you a quick look into what it’s like to be part of your company.

Compelling personal stories narrated by employees themselves, pre-recorded office tours for on-site or hybrid work models or interview advice all offer the chance to show what your company is about. That way, you can go beyond a traditional job description with a list of key responsibilities and benefits.

Team Up Your Career Marketplace With a CRM

At times, candidates don’t find an opening that fits their specific set of skills, but you shouldn’t miss that chance to build a long-term relationship and keep them interested. This is why so many organizations offer the option to sign up to a talent community. But without regular, quality content, these quickly become black holes. Continue to cultivate these relationships by combining your career marketplace with a CRM that provides you with powerful recruitment marketing tools. By setting up drip campaigns that deliver tailored content to your segmented talent pools, communication can be personalized and automated simultaneously, enabling you to maintain high candidate engagement at scale.

All’s Well That Ends Well

The Great Resignation doesn’t need to be all about loss. For your organization, it can be a chance to reap the benefits of a comprehensive career marketplace to capture the interest of a newly available talent offering, an unprecedented opportunity to see artificial intelligence and talent acquisition work together. With the right team behind its execution, you’ll be able to attract the diversity of qualifications and skills to enrich your talent pool in these turbulent times.

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