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    Revisiting ‘Passive’ Candidate Recruitment Strategies

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    Earlier this year, it was clear to see how the shift from a client-driven market to a candidate-driven market had impacted the way businesses recruited new talent.
    The so-called ‘Great Resignation’ of 2021 saw a record number of people leaving their jobs and reconsidering their career paths in the wake of COVID-19 — with the number of job vacancies hitting a record high between July and September 2021 due to post-pandemic reopening and Brexit-related labor shortages.
    As a result, successfully targeting and onboarding ‘passive’ candidates — people already in employment who are not actively searching for a new job but may be persuaded to change roles — will continue to play a significant part in recruitment strategies for 2022.
    The benefits of hiring passive candidates
    A recent survey revealed that 69% of workers are ready to move jobs, with 24% planning to do so in the next few months. This reshuffle will impact almost every industry and cost businesses large sums in lost productivity and onboarding processes. For example, if just a sixth of the UK’s 275,000 accountants chose to leave their companies, it would cost firms upwards of a billion pounds in lost productivity alone.
    Passive candidates make up 70% of the global workforce. As a result, having an effective strategy for targeting such candidates is crucial for businesses hoping to fill skills gaps and stand out in the increasingly competitive job market. Being approached directly by employers makes passive candidates feel respected and valued, increasing their enthusiasm for a role. They are also more likely to take their time deciding whether or not to join a new company and are, therefore, more likely to stay — boosting retention and company reputation and making it easier to attract more talent.
    Since they already possess a proven set of skills before starting a new job, passive candidates are typically 17% less likely to require skills development. So, less time and resources are needed to train them, offering a faster return on investment for the employer and an easier transition for the employee. Plus, research has found that passive candidates are 120% more likely to want to make an impact in their new position, bringing with them the contacts and knowledge that will help to upskill existing teams and springboard businesses into the next stage of growth.
    Five top tips for targeting passive candidates
    1. Keep doing your research
    To find out what it would take for a top candidate to leave the comfort of their position to join your company, you will have to take the time to get to know them.
    Taking a personal approach is vital, as the top candidates are likely to have multiple other companies vying for their attention. As such, researching candidates to learn their work history, experience and motivations will be vital in conveying your professionalism, attention to detail, and position in the industry, as well as developing the candidate’s interest in your company.
    2. Revisit previous candidates and contacts
    Have you ever considered that your perfect candidate may be lurking in your existing databases? Somebody who was not quite experienced enough to secure a role in your team a few years ago may now be the perfect fit.
    Plus, they will already be familiar with your company as they were once attracted to a position within your organization, making it even easier to minimize the competition from other interested parties.
    3. Build a referral program
    There is more to a competitive job offer than an attractive salary. Company culture, flexibility, and benefits are other contributing factors, and who better to provide a trustworthy recommendation than an existing employee?
    One survey concluded that 78% of recruiters find their best-quality candidates through referrals. So, leveraging professional networks and incentivizing staff to bring in new talent with a referral program can help to expedite the recruitment process.
    4. Work on your online presence
    As digitization continues to sweep the globe, it is becoming increasingly important to establish a virtual brand — or risk planting doubts in the minds of prospective candidates about the legitimacy of your business.
    Boosting your online presence could involve starting a company blog, upgrading your website, or developing a social media strategy. By sharing industry insights, company news, and promoting relevant events and campaigns online, you can cultivate a following, gain visibility, showcase company culture and, ultimately, attract passive candidates who may not otherwise be exposed to your organization.
    5. Refine hybrid working policies
    In the post-COVID era, it appears that hybrid working is here to stay. In fact, more than half of workers questioned in the EY 2021 Work Reimagined Employee Survey said they would consider leaving their job in favor of one that offers flexible working after the pandemic.
    But it is not enough to make a vague reference to flexibility in a job offer. Now that businesses are no longer in crisis mode, setting expectations for working hours and availability is key to the success of a hybrid working model and significantly increases the probability of high levels of engagement and wellbeing — boosting employee satisfaction and retention as a result.
    By Julie Mott, Managing Director, Howett Thorpe.
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      How to Secure the ‘Passive’ Candidate

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      Thanks to the sudden shift from a client-driven market to a candidate-driven market, recruiters and employers across all industries, including accountancy and finance, are having to change tact to source and secure top talent.
      With many of the most desirable candidates having already been snapped up by the competition, knowing how to target the ‘passive’ candidate is more important than ever. Passive candidates are not on job boards or #OpenToWork on LinkedIn. Basically, they are not actively looking for new employment. But that does not mean they are not interested…
      What is in it for them?
      Passive recruiting is all about showing suitable candidates why a position within your company is the best possible fit for them.
      But how do you convince them to leave the comfort of their current role to join your team? Simple (sort of) — give them an offer they cannot refuse. When recruiting passive candidates, you are trying to convince them that the grass really is greener on the other side.
      So, what are the primary things you should focus on as an employer to impress your ideal candidate and sway them towards your business? There are several ways for companies to stand out against the competition and secure the best fit for the job when actively seeking passive candidates…
      Do your research

      How long have they been in their current position?
      What could you offer them that their current employer cannot?
      What is their experience, and why does it make them a perfect fit for this role?

      To make extra sure you are right to invest your time and energy into attempting to recruit a person not actively looking for a new job, it is essential to establish what it is about them that makes them ideally suited to this opportunity. This will make your communications with them more personalized and targeted from the first contact.
      Offer a competitive salary
      Unfortunately, it is not enough to slap a high salary on the offer and expect it to do all the talking. But although it is by no means the sole deciding factor for job seekers these days, salary will always remain an important draw for candidates. With both starting salaries and temp pay expanding at a sharp rate, it is imperative that the salary you are offering is attractive when reaching out to prospective candidates — and in line with industry benchmarks.
      Consider flexible working
      A recent survey found that 34% of UK workers said they would resign from their current position if their employer failed to offer flexible working options. In the new age of hybrid working, this will continue to be an important factor for candidates to consider. Employers must seamlessly incorporate and facilitate the new style of working if they want to secure — and retain — new talent, from early recruitment and onboarding procedures to long-term, flexible working policies.
      Demonstrate company culture and values
      Ensuring your company’s brand and values are consistently represented across all channels and communications is integral to making you stand out in the industry. Many candidates are growing increasingly aware of company values and how they are being implemented — both in policy and the workplace. This could refer to diversity and inclusion programs, gender equality initiatives, emphasis on work-life balance, or any other aspects of your company’s culture that make it a desirable place to work.
      Build a good reputation with existing staff
      Your current employees could become one of your greatest assets in the hunt for passive candidates. A positive review can make all the difference to a candidate weighing up whether or not to take up an offer. If past and existing staff speak highly of a company, it will create a positive overall impression and provide all the evidence needed to reinforce any claims about why a candidate should leave their role for a different one.
      By Julie Mott, Managing Director at Howett Thorpe. Julie is a highly respected and well-connected recruitment individual with over 20 years of experience working in the ever-changing industry.
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      in Talent Acquisition

      Want to Hire in Q4? Tap the Passive Market and Flex Your Hiring Muscle

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      Contrary to the popular narrative – these aren’t “crazy times”. This suggests that things will eventually go back to normal – which is far from the truth. The reality is that these are “new times”, and employers struggling to hire and retain talent need to adapt accordingly.
      Listen: In a detailed analysis of the Great Resignation earlier in September, Business Insider pointed out that September will see even more significant data once numbers for the month are released. They write that COVID-19’s resurgence under the guise of Delta coupled with the lack of available childcare as kids return to school will send quit rates even higher.
      Add to that a new report from Manpower finding that 59% of US businesses are planning to add to payroll in the final quarter of 2021. Not backfill. Not rehire. Add to payroll. This suggests economically healthier times, but with job quit rates and job openings already at levels unseen in two decades, Q4 2021 will see even more challenges for recruiters.
      Are recruiters nervous? You bet they are, and a GetApp survey confirms this: 56% of recruiters fear that they have job openings that they will never be able to fill.
      Employers are at an urgent time. They don’t have time to pontificate over the “why” of all this stuff. They need to fill roles – and fast.
      The rules of engagement have changed
      Ultimately, these numbers show that the traditional recruitment process no longer applies to today’s working world. The rules of engagement have changed – nay, evolved – and smart-thinking recruiters and employers would do well to stay ahead of these changes. What’s normally a hiring frenzy in Q4 is going to be weird and different this time around.
      So, it’s important to look at what matters right now to potential job candidates. At the start of summer, recruitment technology leader Workable surveyed 1,250 workers in the US and UK to find out what matters most to them in a job. The resultant Great Discontent survey reports – one for the US, and one for the UK – find that, in the midst of all the findings around salary and other hiring topics, two themes really stand out: the high number of passive candidates among those open to new jobs and the high value of flexible schedules for many employees and job seekers.
      Passive candidates
      Let’s start with passive candidates. In the survey, Workable found that in the US, 70.7% of eligible workers are open to the idea of a new job – with 37.3% passively open to new opportunities. In the UK, those numbers are even higher – 75.6% are open to new opportunities, and 45.1% are passively open to new work.
      So, it’s not just about putting up a job ad and watching the applications roll in. Workable’s Hiring Pulse for September 2021 identified a sharp downward trend in candidates per hire right up to the end of July – so recruiters need to work a little harder to root out those valuable candidates.
      Part of that could be a need for better recruitment marketing, but it also means that recruiters will need to actively source candidates with cold calls and emails. Why? More than half of those open to new roles are passive candidates. That’s an incredible resource worth tapping into.
      While passive candidates aren’t actively looking for new work, they are open to having a conversation with you about a new opportunity. They’ll make a big career shift if it suits them.
      The other thing is, these are people who haven’t quit. They may actually be easier to recruit than those who left the workforce altogether.
      That’s a pretty good opportunity for recruiters looking to woo new talent to their organization.
      Flexible schedules
      Let’s move on to the other topic dominating the recruitment world: flexible work. But don’t fall into the trap of understanding it as one entity. There are two very distinct aspects of flexible work: remote work and flexible schedules.
      The data in the Great Discontent report shows why this distinction is important: 31.6% in the US and 25.3% in the UK said their job can’t be worked remotely at all. That compares to just 19.4% and 14.6% respectively in that they can’t realistically work on a flexible schedule – significantly lower numbers.
      The number of those who do think their work can be performed on a flexible schedule is significantly higher – 57.1% in the US and 53.8% in the UK voted 4 or 5 on a scale of 1 to 5 in terms of how easily they can work flexible hours (1=not at all, 5=completely).
      Plus, 58.2% of US and 57.7% of UK workers consider flexible work schedules to be quite important to them. Again, these numbers are notably higher than the importance placed on remote work.
      We also asked why flexible schedules are important to workers. More than half in both countries – 55.8% of US workers and 57.3% of UK workers – say having flexible schedules makes it easier to balance personal and professional priorities. At the core of this, of course, is maintaining your personal life obligations such as being there for your loved ones.
      So what does that mean for recruiters and employers? If you offer flexible schedules in your workplace, you’re helping your employees integrate their home and work lives rather than forcing them to find a balance between the two. That can be a powerful attractor for your business.
      Overcome those hiring challenges
      These aren’t the be-all and end-all solutions, of course. There’s a lot more. But as mentioned above, employers need to act quickly if they want to attract new job applicants.
      Actively sourcing passive candidates and building out flexible work schedule policies can help fill those crucial roles as you head into the traditional hiring season of Q4.
      The times have changed – and the onus may well be on you to adapt accordingly.
      Keith MacKenzie is Content Strategy Manager at Workable, a recruitment software company, and is the author of the Great Discontent survey reports which were published in September 2021. 
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