Telling candidates they won’t be moving forward in the interview process can be awkward, uncomfortable, or even something you tend to procrastinate. Some recruiters and hiring managers ignore providing feedback for candidates altogether. Others wait days, even weeks to reject candidates. Letting too much time elapse before delivering the "bad news" hurts everyone, including your company’s reputation.
Adapting to a Tight Talent Market
As of December 2018, 129.14 million people in the US are employed on a full-time basis.
Now let’s look at unemployment. During the Great Recession, unemployment peaked in 2010 to 14.83 Million. Unemployment incrementally dropped over the next few years, and in 2016 fell to 7.75M, and 2017 dropped to 6.98 million.
The current US population in 2017 was 325.7 million and today sits at 328,254,391 million according to The US and World Population Clock provided by the United States Census Bureau.
The Bureau of Labor Statistics, (BLS) calculates the Civilian Labor Force at 49% of the US population, or 164M people. This gives us a 4.25% unemployment rate for the civilian workforce.
We can also calculate that 78% of the eligible civilian workforce is working on a full-time basis. The rest are working on a part-time basis or are unemployed.
So what does this mean for your sales team?
Every top salesperson will eventually quit. What’s even more painful is the best leave when they are on top, so if you’re not careful, you may not even see it coming. As the job market tightens, sales professionals have more and more lucrative and exciting job opportunities vying for their attention.
Today’s employees have one thing on their mind: flexibility. With traffic increasing, work hours rising, and vacation day usage decreasing, the one thing employees seek is flexibility. Two out of three candidates today don’t think they must be sitting at their desk to be productive and do their job according to ManpowerGroup Solutions’ Global Candidate Preference Survey
To build a rock solid high-performance company you must hire the best salespeople you can recruit. So, what can you do to attract A-players? First, it’s important to understand what salespeople want. What keeps salespeople engaged? When we ask thousands of sales reps across the country what kinds of environments they thrive in, we heard common themes.
In good economies and bad, finding top talent is difficult. Think it's any easier for Microsoft, Facebook, Amazon, or Google? Sure, they have distinct competitive advantages, but it still takes teams of recruiters interviewing around the clock to recruit and hire staff even for well branded growing organizations.