There's a good chance that your LinkedIn notification feed has a few of these in it, "Congratulate Jane Doe for starting a new position as..." In fact, according to LinkedIn data, job-hopping has nearly doubled in the past 20 years.
- "Small is the new big: Emboldened professionals flock to smaller organizations."
"The tech, healthcare, oil and energy industries grow in talent as others lose out."
"The engineering talent gap continues as growing supply still can't keep up with demand."
Based on these findings, LinkedIn offered three insights that can help you tweak your recruiting strategy and capitalize on these trends. I've added my personal experience to each.
1. Infuse your employer value proportion (EVP) with small organization traits.
Your employer value proposition, EVP, are traits associated with your organization that set you apart from other companies. It answers the question, "Why should I want to work here?" In years past, larger organizations held a lot of the power. They could make stronger offers, had access to technology, and were working on the best projects. But, working in big organizations also came with a few hitches -- large decision trees, compartmentalization and silos, less access to executives, and office politics.
In smaller companies, you're seeing the opposite -- flat organizational charts, a lot of collaboration among departments, an ability to get involved in projects outside your job scope, and direct access to leadership.
As you can imagine, all of these smaller company traits add up. They help create an environment that is more inclusive, collaborative, innovative, and agile -- and, that breeds opportunity. The lack of career opportunity and potential for professional growth is the number one reason people leave their jobs, according to LinkedIn.
2. Play hardball for engineering talent.
I would change this slightly, "play hardball for top talent." The job market is extremely competitive. In my past experience, for every qualified candidate I was attempting to hire, there were three competing companies.
Don't drag your feet. When you've found the right person for the job, move quickly. Often, the companies that win the war for talent are the ones that can make the offer first. To ensure that you're the early one out of the starting blocks, do your research now. Find out what constitutes a great offer, and then be prepared to put your best foot forward with additional perks.
3. Know your talent pool and uncover hidden gems.
To be competitive, you'll have to be out in front of your competition. You'll have to be able to predict the needs and demands of the talent pool you're vying for. For example, if you know that a "Junior Analyst" expects to be promoted to a Senior within two years, then search for experienced juniors now rather than seniors. Or, if you know that "accountants" possess transferrable auditing skills, focus your efforts on offering a new opportunity to an otherwise pigeon-holed career.
The organizations that are creative and proactive usually win out. Analyze your target talent pool -- their skill sets, needs, and behaviors -- and learn what makes them tick. Offer them a great opportunity before they even know it.
We are definitely in different times. Candidate behavior is becoming harder and harder to predict, and it's forcing recruiters and their organizations to think differently. These insights from LinkedIn are a great place to start.