What to Do When There's a Shrinking Candidate Supply

With the economy recovering, the labor marketplace has shifted from employer-driven to candidate-driven, according to a MRI Network Recruiter Sentiment Study that was recently highlighted by The Tim Sackett Project.

This shift demonstrates that prior candidate supplies were larger and employers were able to be more selective with whom they hired. Now, the candidate supply is shrinking and candidates are able to be more selective of where they choose to work.

According to the MRI survey, "More than ever, highly-skilled, top-performing candidates are in-demand." This seems to be a common theme among many reports, blogs, and Recruiters.

Considering the market change, I thought I'd discuss ways to locate hard to find candidates.

Candiate Or Employer Driven Market
SOURCE: MRI Network Recruiter Sentiment Study

1. Recruit in Areas with the Best Recruiting Conditions

Recruiting conditions are likely to vary depending on the location. On average, throughout the US, Industrial Engineers with quality assurance (QA) skills are considered hard-to-fill. Industrial Engineers score an 84 on our Hiring Scale. The Hiring Scale takes into account supply, demand, location, local and national unemployment rates, and salary among other factors to determine a score ranging from 1 to 99, with 99 meaning hardest-to-fill. For this particular job, there aren't many locations with favorable recruiting conditions. Only 5 metro areas score a 50 or lower on our Hiring Scale. Palm Bay (FL) presents the least difficult recruiting conditions. Currently, there are only 23 job openings that are competing for talent in this area. Locations with less challenging recruiting conditions can be used to relocate talent from or advertise in if the employee can work remotely. 

Locations with the Best Recruiting Conditions for Industrial Engineers with Quality Assurance Skills

08.21.14 Best Recruiting Conditions For Industrial Engineers Qa

SOURCE: WANTED Analytics

2. Recruit Talent from Competitors 

TLNT recently discussed this topic saying it's ok to "poach" and that it's common in recruiting. To identify which employers have the talent you require, examine candidates at companies that have hired for the same position in the past. Potential passive candidates are likely to be working at these companies and have the experience you need. Below is a list of companies that have hired for Industrial Engineers with Quality Assurance skills in the past 4 years. 

Employers Who Have Hired Industrial Engineers with Quality Assurance Skills

8.20.14 Employers Competing For Industrial Engineers

SOURCE: WANTED Analytics

3. Build Relationships with Students

When the current talent supply is limited, college campuses are a way you can build your talent pipeline. You can set up recruitment programs with schools that have programs in your field. Get involved with these learning institutions to build relationships with students. When students become familiar with your organization they may be more interested in taking a job with your company upon graduation. Below are the colleges and universities that had the largest graduating classes in 2013. Georgia Institute of Technology had the most students graduating with coursework completed in industrial engineering. A similar number of students are expected to enter the workforce in 2014. 

Colleges and Universities with the Most Industrial Engineering Graduates

Colleges And Universities With The Most Industrial Engineering Graduates

SOURCE: WANTED Analytics

4. Invest in Your Own Employees

Do you nurture your own talent? By providing training programs for your own employees you can teach your talent skills that you require. For instance, if you have an opening for Manufacturing Engineers with lean management skills, perhaps you can enroll your existing Engineers in lean manufacturing classes, so they can learn a new skill set. Also, when searching for candidates, consider which skills are "must have" or "nice to have." If there is a skill they don't have, but it can be taught, look for the necessary abilities and teach them the other skills on the job. You can reach out to schools in your area to see if they offer these programs. For example, below are schools near the Los Angeles metro area that offer industrial engineering programs. Los Angeles was among the cities with the most demand for Industrial Engineers.

Universities in Los Angeles with the Most Industrial Engineering Graduates

Colleges And Universities In L.A. With Industrial Engineering Programs

SOURCE: WANTED Analytics

What tricks do you employ to locate hard-to-find candidates?

Views: 276

Tags: Agency Recruiting, Candidate, Corporate Recruiting, Difficulty, Engineers, Hiring, Human Resources, Industrial, Recruiting Tools / Sourcing, Supply

Comment by Nicholas Meyler on August 22, 2014 at 12:37am

I would contend that the best solution for "candidate scarcity" is to go find more candidates.  At least, that's what works best for me.

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