Hiring Talent in 2021
As we emerge from the pandemic, employers face the challenge of hiring qualified and dependable talent. The talent deficiency pre-pandemic still exists, and the competition to hire is rising at an uncontrollable pace. Salaries have increased exponentially in the past 6 months and companies are finding themselves in a position of hiring before they are ready to make a decision or risk losing prospective candidates.
Employers are left to make an array of difficult decisions. This could include overpaying for talent, when an employer needs a position to be filled and there are no other options, sometimes overpaying is the only solution. Other employers may hire, train, and invest in under qualified candidates. This requires a lot of training from an employer’s standpoint which takes up a huge chunk of time that could be allocated elsewhere. Another route employers are taking includes waiting for the perfect candidate to come around, which is great if your company has the time and money to wait for said candidate. The downfall of this is the amount of strain on existing staff could be unbearable. If a new hire is an urgent and necessary decision then making the decision to hire as quickly as possible may seem like the smartest option in order to relieve some weight from existing staff. Finally, another method to cope with the lack of talent in the marketplace is replacing a full time role with a consultant. The flexibility of contract roles can be captivating to some. Many IT professionals venture out on their own, creating consulting firms and hitting the ground running searching for clients. A downside of replacing these roles with consultants is the transfer of knowledge once the contract is over. Having a full time employee helps the knowledge of the firm stay put and not transfer to other companies.
Evaluate and Adapt
Ultimately there are no ideal solutions but the current state of the market presents an important time to evaluate and design a recruiting strategy to adapt to today’s market challenges. It is important for an employer to choose a solution that best fits their company’s biggest area of improvement and adapt to the current market. While some solutions may work better for others, at the end of the day it all depends on what the employer thinks is best for their company.
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Sudina Search was founded on building professional relationships through results. Four decades later, we continue to deliver exceptional staffing results through our network of valued relationships. We’re a full-service recruiting firm focusing on the career areas of Accounting & Finance, Information Technology, Software Engineering, and Human Resources. Visit our website at http://www.sudinasearch.com/ to partner with us.