What the Current Unemployment Rate Means for Hiring

As of May 2019, the unemployment rate has declined to 3.6 percent. This rate is the lowest we’ve seen since December of 1969 according to the Bureau of Labor Statistics. This is a cause for celebration, right?

From an economic viewpoint, yes!  This number is great news, and for our labor force, even better news.  America’s workers are employed and all is well unless you’re sitting with open positions and are struggling to fill them.

This low unemployment rate is not a bad thing, but it does mean that hiring quality candidates for your open positions will be a little more difficult. Let us help.  The unemployment rate means your organization needs to work harder to acquire quality candidates. Use these tips to get a leg-up on the competition and secure those quality candidates for your organization.

Here’s how to do just that.

Improve Candidate Experience

We’ve said it once and we’ll say it again, the candidate experience is the most effective way to get quality candidates for your open positions. There are ample ways to give your candidates a positive hiring experience. Use the following tips to improve your candidate’s hiring experience:

  • Keep the applications as accessible as possible - electronic versions preferred
  • Communicate regularly during the process
  • Give candidates updates on their status

Decrease Turnaround Time

No one likes waiting around, especially in a market that is teeming with open positions. In order to give your candidates a truly positive experience, you have to consider their time.  Candidates will feel that they aren’t valued if the hiring process is especially long.

Organizations that hire the best candidates know this, and they actively take steps to decrease their turnaround time. Using time-saving technology for background screening keeps your hiring process short and sweet.  

Use Mobile Technology for Convenience

Hiring managers and recruiters have never been busier. Quality workers are harder to find and once found, they are swept up pretty quickly. The hiring process requires a lot of work, so getting a screening partner that recognizes that urgency is essential.  Screening technology that offers flexibility and mobile access is becoming more and more important as quality candidates become fewer and far between.

A Mobile solution gives candidates access to their hiring status at anytime of the day. This frees you up to continue the search for quality candidates and not have to worry about checking in on the process, letting technology step in and alert your potential hires of status changes.

The fact is that there are many more open positions that candidates available to fill them, so why not give your company a head start on the competition and increase your chances of landing a quality candidate?

For a screening solution that can help you hire the best, schedule a meeting with us today!

Topics: Candidate Experience, Featured