Here’s a tongue twister: if recruiters can’t find recruiters, how will recruiters get recruited to recruit? “Now hiring” signs are all too familiar on any excursion to brick-and-mortar portfolio companies. A scroll through LinkedIn will present the same information: everyone is hiring.
The Rising Demand for Recruiters
As we grapple with the effects of the pandemic, there will likely be even more changes as a result of economic recovery efforts. The increasing need for recruiters, which is expected to continue this year, is one such trend.
As a result of massive layoffs in 2020 and hiring freezes, recruiters were not needed as much. However, when hiring resumed, portfolio companies encountered a talent war brought on by the Great Resignation, with employees leaving their positions in record numbers. The reasons behind these problems are work-life balance, a fear of falling ill, or a sense of being devalued. The recruiting firms’ sector, which is already quite competitive, is in high demand once more.
According to one report, 73% of Human Resource executives increased their expenses for hiring in 2021 and beyond. However, a quarter of those said they had trouble filling available positions for recruiters on their teams. As of this post, 415,351 open ‘recruitment’ roles are listed globally on LinkedIn.
How Your Portcos Can Attract Recruiters Moving Forward
Naturally, as demand increases, the scarcity of recruiters will become more acute than before the outbreak. Talent sourcing teams need to be on the lookout for fresh and creative hiring methods to attract qualified candidates.
Job seekers are looking for several components that define a good work environment, like work-life balance, compensation, and culture. A supportive environment, training opportunities, and a developmental career trajectory is vital in attracting and retaining recruiters for portfolio companies.
According to a Recruiter Nation Report, 73% of recruiters find that more candidates are negotiating higher salaries, up a whopping 20% from 2020.
Candidates still frequently inquire about the standard perks, like health insurance and 401(k). However, new ones, including family planning, childcare, and parental leave, are becoming more sought after. Additionally, around half of candidates are getting in touch with DEI projects more than they did the year before.
“Organizations will lose talent if they don’t adapt to candidate and employee expectations around these issues,” said Amber Ferrari, marketing manager at Jobvite. “Recruiters have had candidates turn down offers specifically because there wasn’t flexibility built into the offer. Some form of flexibility is becoming less of a perk and more of a real expectation.”
In turn, portfolio companies should also be proactive and talk to their employees regularly about their career wants and needs.
“We take employee conversations seriously and work hard to incorporate feedback to tailor each person’s experience at Hueman,” explains Ashley Boutwell, Director of RPO Services at Hueman.
The Hueman Way
While culture is a major component of Hueman’s recruitment services, our training process is critical to the success of our employees. Writing proper job descriptions on the right job boards is all well and good, but great recruitment is much more involved. When recruiters have effective tools in their toolbox, both recruiters and prospective candidates can expect an overall wonderful experience.
The key to our talent acquisition program is that it doesn’t end after orientation. Ongoing training and continuing education are conducted year-round for all of our employees. As the talent landscape changes, we ensure that our team has the most up-to-date training to support them.
Some of the key tactics that we’ve found successful in recruiting and hiring recruiters include:
- An engaging employee referral program that offers a referral bonus
- Strategically sourcing passive candidates who may or may not have recruiting experience but have experiences that are transferable to successful recruiting
- Selling Hueman’s culture to potential candidates by focusing on company core values and initiatives
- Increased marketing efforts with partners like Indeed and LinkedIn to ensure our jobs are visible and top-of-mind for candidates
As a Private Equity Talent Solutions organization that supports portfolio companies nationwide, we know the importance of preparing our recruiters to be successful. Through training, effective processes, and access to the latest technology, we’ll help your portfolio companies attract and retain the right candidates.
When you work with Private Equity Talent Solutions, we’ll take the risk out of acquiring talent so your portfolio companies can grow. Contact us today to supplement your recruiting efforts.