As the unemployment rate continue to hover between 3.7% to 4%, that could only mean one thing. The talent you seek is already employed somewhere.

There are more jobs than there are qualified people to fill it. Every company seek for the best talent, often competing amongst one another to get them onboard. They are not in a rush to choose and evaluate the companies that are aligned to their needs. The table has indeed turned in today's candidate-driven market.

How then, does your company create a fighting chance in the war for talent?

Employer Branding

This is where it all begin. Simply put, this is your company's reputation. How is it like working in your company? What's the culture like? What are their core values? Why does the company exist? What is the commitment to the customers and employees alike? Where is the company heading towards?

Typically, a candidate would perform a quick Google search about your company and how you fare in the reviews page (think Glassdoor). This is where congruency matters. There's no point crafting a story about how your company is the best place to work in if the people working in it echo a different sentiment. Be honest. Does your company emphasize on work life balance? Flexibility? Unlimited leaves? Rewarding career with ample of challenge and progression? Don't just say it. Prove it.

Create content that revolves around the day in a life of an employee. What do they love about working in the company? What do they get to work on? Anything interesting to highlight? Any insighftul knowledge to share? Any cause that the company support? From articles to videos, these serves as a sneak peek to attract and generate interest for the curious talent out there.

Internal mobility

It's interesting how companies neglect the talent that's already there while desperately seeking externally to fill an open role. Why is that so? Chances are, there are already talent in your company who's up for the challenge. Given how much they already know about your company and its processes etc, it doesn't take much time for them to get productive in their new role. Spoiler alert. It might even lead to better retention.

Referral

For this to work, you have to ensure that your employer branding is on par. After all, no one in their right mind would refer their friend / someone they know into a bad place. It's a matter of their own reputation too, afterall. You can choose to incentivize this activity but instead of monetary, you can always opt to donate the successful referral fee to a charity / cause of their choice.

Proactive sourcing

Gone are the days where posting your open role to various job boards would yield amazing results. The talent you seek is already employed somewhere, remember? Map out where your ideal talent is working at. Build a team of sourcer to perpetually source and create a pipeline of engaged talent who's been informed about the existence of your company. Sourcing is a full time job, not an afterthought.

Leverage the gig economy

Depending on how urgent your needs are, sometimes the most viable solution is to hire contractors to get the job done. Not every role created is necessarily a permanent position. Do however take note of the quality of work and have a maintenance plan thereafter.

The war for talent will not cease anytime soon but at the very least, you won't be losing out either for as long as you diligently apply these strategies. Good luck!