Today, with the unemployment rate at historic lows, if you’re not cultivating the passive candidate, you’re not finding new employees. Passive candidates are those not actively searching for a new job. The statistics tell us that about 70% of everyone employed today falls into that category. Only 30% are actively looking for a new job.
Employers should actively get to know these passive candidates, especially since the same statistics also show that 87% of active and passive candidates are open to new opportunities.
Here are some of the best ways to attract passive candidates to your company.
Tip 1: Create a candidate pool by leveraging a database of resumes. This is where talent and staffing agencies are so useful; many of them have spent years cultivating candidates and already have a good list of networking contacts that you can immediately access and make use of.
Tip 2: Talk to your employees about who they know as this is a critical first step in a tight labor market because the candidates you’re targeting many times do not respond to an ad. Instead, they will respond to a person who they know that reaches out to them privately to tell them about your company. Then consider rewarding your employees for these referrals even if the candidate isn’t hired. This will encourage employees to reach out to their networks, which will certainly help you in your search.
Tip 3: Use social media by creating a branded employee profile online and begin to build a list of people that follow your posts. Then make it a habit to engage with others on social media. While these are two time-consuming steps, they are absolutely necessary to get the word out to the people you’re trying to reach. See if your current employees will go on sites like Glassdoor and review what the experience is like to work at your company; candidates pay close attention to these tools. You can also post your job in social channels and groups to spread the word.
Tip 4: Search for candidates on LinkedIn by using keyword strings geared toward the job you’re trying to fill. Then individually connect or email candidates with one simple question, “Are you interested in a new opportunity? You can also reach out to your connections on the website. Try sending them the job description to see if they know anyone who might be interested in the role. Make sure you add a sentence at the end that says something like, “Not the job for you? Would you be willing to forward the job description to someone else?”
Tip 5: Watch the news for any layoffs of disruptions at competing firms. Many times it’s a good idea to reach out to candidates at these companies proactively and just let them know if they’re ever ready for greener pastures, to call you directly. Check out the companies where these job applicants have previously worked to figure out a list of potential target companies.
While these are just five of the most common techniques we use at Blackstone, there are a host of other ideas we can share along with a solid list of passive contacts in your region. All you have to do is make the call and start the conversation to find out more.