It’s no secret that we are currently in a candidate-driven marketplace. Employers worldwide are competing for the same top talent. Most companies realize that retention starts with the hiring process.

In this competitive marketplace, it is important to implement new techniques as part of your strategic staffing plan. McDonalds and Wal-Mart were two of the first companies to target the “aging” population, realizing the shortfall and competition for their normal employee profile.

Ask yourself the following questions:

1. Do you continue to identify new sources to attract top talent?
2. Does your company have TOMA (Top of Mind Awareness)?
3. Have you established an internal and external referral program?
4. Are you utilizing Social Networks to identify top talent?
5. Have you established a strong working relationship with third party vendors?
6. Is the information obtained in “exit interviews” responsible for positive changes in your company culture?
7. Have you taken time to assess the talents and skills of your current employees?
8. Do you have a program to attract “retired” baby boomers to your workforce?
9. Does your company provide unique benefits? Flexible hours? Virtual opportunities?
10. Are you reading some of the professional “BLOGS” being established by top executives?

Your answers to these questions can provide you with an indication of whether you are keeping pace with current trends in the Recruiting Profession. The attitudes of job seekers are different and they are aware that their talents are in demand.

Current realities in recruiting

• Candidates are receiving multiple offers. You must identify the real hot buttons of your prospective candidates and sell your company and opportunity. One of the best questions to ask is, “If you could change five things about your current job if you were your boss, what would you change?” This provides you with the real reason this person will go through the trauma of a job change.

• Most candidates will receive a counter-offer from their current employer. It is important not to “low ball” offers. Confirm the current compensation package as well as the value of their benefit package in order to extend an offer.
• Counter-offers are being extended up to six months after you hire a candidate. You need to meet with new hires on a regular basis to make sure this individual is enjoying their new opportunity and is fitting in to your company culture.
• Professionals are establishing blogs. This is a very unique way to identify experts in various fields.
• Social Networks are a great way to identify top talent.If you are not utilizing social networks, this should become part of your recruiting process.
• Baby boomers often “can’t afford” to retire, and often don’t “want” to retire. Develop a program to attract these individuals to your company.
• Third party vendors can help you identify a “hidden market of candidates.” Boutique recruiting firms specialize in a certain niche. They spend 100% of their time attracting top talent. They are a great resource for your hard to fill positions. Temp or Contract firms provide you the opportunity to “try before you buy.”

Starbucks is synonymous with the word coffee. How can you establish Top of Mind Awareness for your company? Top talent is drawn to companies that have a great reputation and are known to enhance the skills of their employees. Determine what you can do to create TOMA for your company to attract top talent.

Many of today’s candidates are looking for flexible hours, part-time work, virtual opportunities and unique benefits. Unique benefits can attract top talent you might otherwise not be able to recruit for your company. It’s important to know what benefits are being offered by your competition in the job market.

The competition for top talent will continue to escalate regardless of economic conditions. Start to develop new recruiting strategies today and you will not only win the competition for Top Talent, you will also improve your company’s ability to retain that talent.