Where Have All the Great Candidates Gone?

As I visit with my clients, I am constantly asked, “Where are the great candidates?” I talk with clients from coast to coast on a daily basis, and the demand for the next round of talent to lead them into the future has never been greater. Keep in mind; you are competing with top companies like Apple and Chevron and not just your competitors in the Multi-Family industry. The harsh reality is more options exist today than have been available in the last 3 years. As employers, it is more important than ever to be prepared to hire fast and hire right. National averages suggest only 10% of resumes received for a job posting are actually a match for the position or meet the minimum hiring criteria to warrant an interview. Put that into perspective: If 100 applicants respond to your ad, only 10 of those resumes will meet the minimum standards you have listed in your ad. Out of those 10, you will likely only identify 2-3 of those candidates as someone you would like to hire. Eye-opening, isn’t it!

Take a deep breath, however, and know your competition is fighting the same battle. We all want and need the top talent. It is time for you to create a plan that gets you to these candidates first:

1. Know what you really want. Yes, you have an opening, but what has changed since you last filled this position? Why is it open?

2. Know your current staff’s condition. Identify your strengths and weaknesses, and adjust your hiring criteria to fill your weaknesses.

3. Look to the future! Don’t just hire for what you need today. Hire candidates that can adapt and grow with your company. Invest in the long-term future of your company with each new hire.

4. Know how you compare to others hiring in your market and not just companies in the Multi-Family Industry.

5. Look at the overall package you are able to offer, and make sure it is competitive. The truly great candidates will have multiple options.

Follow these guidelines and all the great candidates will be drawn to you!

Matthew Smith
Senior Vice President – Personnel Services