Competing for Talent with Unemployment at a Six-Year Low

talentCompanies are hiring and the unemployment rate is dropping! The US Bureau of Labor Statistics recently reported the Unemployment Rate is now at 5.9%, the lowest it has been since 2008. 248,000 jobs were added in September. In the technology and software industry, the unemployment rate is at 3.2% in Massachusetts. With a reported 4.84 Million open jobs in the United States, it is once again becoming a candidate-driven market. The challenge is making your company top a candidate’s target list.

If your company is looking to hire, it is more important than ever to be competitive. Three top ways you can best position your company are technology, interview process, and offers. People want to work with exciting technology, so be sure to pay attention to industry trends and take advice from your employees who suggest trying out new tools.

Evaluate your interview process. A lengthy and difficult interview process can be a turn off for candidates. If you have more than 2 or 3 rounds of interviews, consider condensing the process. It is a fast-moving job market and if you can quickly get to the offer stage, the better your chances will be of landing rock star talent.

Now that you have made your company attractive and improved the interview process, the offer stage in an important step to differentiate yourself from the competition. Salary is just one piece of the puzzle. Company culture and benefits are another huge factor. Maintaining a competitive work-life balance, offering flexible hours, and recognizing employee appreciation can be key factors to attract and retain top talent.

How does DAVIS do it? We offer an outstanding company culture, a continued career growth plan, and unlimited vacation time. From our office ping pong table, flexibility to bring your dog to the office, and beer and lunch on Fridays, DAVIS goes the extra mile to keep employees happy and welcome new hires.

Is your company hiring? What are some ways you attract talented new employees?

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