What Are Candidates Looking For in Today’s Market?

By Jessica Mitsch Homes ● 10/24/2022

What Are Candidates Looking For in Today’s Market?

By Jessica Mitsch Homes ● 10/24/2022

With the industry’s increasing demand for tech talent coupled with the labor shortage, making your company an attractive option for potential candidates is key. To achieve the technical dream team, companies will need to evaluate and optimize their internal practices and culture in order to stand out from their competitors. This includes understanding and prioritizing what candidates are looking for in today’s job market and then implementing them into your recruitment strategy. Remember, a showy salary and prestigious name can only go so far, and a healthy work environment matters to candidates.

Remote/Hybrid Work Environment

Since the 2020 pandemic, the culture of physically coming into the office everyday has changed significantly. Candidates are now searching for flexibility and convenience when considering job opportunities. With remote working, employees can more easily balance their work, family, and recreational activity while also cutting out a potentially expensive and time-consuming commute. In fact, 83% of global respondents reported that the ability to work remotely was the deciding factor between two similar job offers. Offering remote work can also improve your candidate pool by considering talent in a much larger area, while simultaneously giving employees the freedom to live where they want.

Opportunities for Growth

While bringing in new impressive talent is major, showing those candidates that they value and promote the employee they already have is equally important. Internal mobility is not only a great retention tool but also an attractive recruitment strategy, as 87% of professionals reported career growth and developmental opportunities as important to them in a job. An effective internal mobility strategy shows that you value your employees’ professional career goals through concrete systems of internal growth and opportunity. This could look like a solid process of upskilling and reskilling your current employees. Furthermore, recruiting superstar talent is one challenge, but so is keeping them. Internal mobility can not only attract top talent but also is a great retention tool for keeping them long-term within your organization.

Social Responsibility and DE&I

Candidates are looking to work for ethical brands that are actively involved in improving the environment and society as a whole. As a matter of fact, according to research, 55% of professionals reported they would choose to work for a socially responsible company, even if the salary was less. With an increasing demand for companies’ role in social and economic injustice, candidates are becoming more socially selective when considering a job opportunity, meaning improving internal DE&I structures and evaluating your company’s environmental footprint is key. Candidates want to feel accepted, purpose-driven, and meaningful in their job positions, and a company with a commitment to social initiatives will provide that.

Remembering the Typical Competitive Benefits

One of your most important steps in creating an ideal position for candidates is having a competitive salary and benefits. While other company characteristics can persuade candidates when there are minimal salary differences, a competitive compensation is necessary to attract top talent. According to research by Glassdoor, 67% of candidates reported salary as the most important factor when considering a job opportunity. Additionally, 46% said health insurance was a positive influencing factor when choosing their job. However, remember that recruitment strategies, like the ones above, may be the tipping point in a candidate choosing your organization. So, when searching for candidates don’t underestimate the power of a solid company advantage.

Moving Forward

Although compensation plays a significant role in a candidate’s decision-making, consider recruitment techniques that go beyond the numbers. Attracting top talent goes further than a prestigious name and flashy salary; it requires a healthy internal culture and an external mission for the betterment of our communities. Offering candidates benefits other than just financial will make your company stand out from competitors. To improve your recruitment strategy, make sure your company is implementing the values that candidates are looking for. For any questions related to attracting and retaining talent, contact our team at Momentum today.

This piece was originally published by a partner in our business ecosystem, BCTG. Learn more about BCTG here.

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