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Hiring has always been a delicate balancing act of finding the right person at the right time with the right skills. But today’s labor market presents unique challenges that test even the most prepared employers. From evolving employee expectations to heightened competition for top talent, businesses are rethinking their recruitment and retention strategies.
Here’s a look at today’s biggest hiring hurdles and how your organization can overcome them.
1. Talent Shortages Across Industries
Low unemployment rates and demographic shifts mean fewer qualified candidates are available for many roles, especially in specialized fields. Businesses are finding that traditional recruitment methods are no longer generating the same results as they did in the past.
How to Overcome It:
- Broaden your talent pool by considering transferable skills and non-traditional backgrounds.
- Invest in training and upskilling programs to build talent from within.
- Partner with educational institutions and workforce programs to create pipelines of qualified candidates.
2. Rising Candidate Expectations
Candidates today expect more than just a paycheck. They’re looking for employers that offer flexibility, meaningful work, professional development opportunities, and comprehensive benefits packages. If your business can’t meet these expectations, you may lose top talent to competitors.
How to Overcome It:
- Offer flexible work arrangements where possible, including hybrid or remote options.
- Highlight career growth opportunities and provide clear pathways for advancement.
- Reevaluate benefits as mental health support, student loan assistance, and retirement plans are increasingly important.
3. Longer Hiring Timelines
With so many businesses competing for top talent, candidates are moving fast. If your hiring process drags on, you risk losing great applicants to employers who act quicker.
How to Overcome It:
- Streamline your hiring process by eliminating unnecessary steps.
- Leverage technology for scheduling, assessments, and communication.
- Keep candidates engaged by providing frequent updates and transparency throughout the process.
4. Retention Challenges
Hiring doesn’t end once you extend an offer. High turnover rates remain a top challenge, and replacing employees is both costly and disruptive.
How to Overcome It:
- Foster a positive workplace culture where employees feel valued and heard.
- Offer competitive pay and regularly review compensation in relation to market trends.
- Conduct stay interviews to identify and address issues before they lead to resignations.
5. Increased Compliance and Legal Risks
Employment laws continue to evolve, from pay transparency requirements to paid leave mandates. Businesses must strike a balance between the need to recruit quickly and the responsibility to remain compliant.
How to Overcome It:
- Stay up to date on federal, state, and local employment laws.
- Work with HR consultants or payroll providers who specialize in compliance.
- Build policies that address both legal requirements and employee expectations.
The Bottom Line
Hiring is tougher today than ever before. But not impossible. Businesses that adapt to candidate expectations, streamline their processes, invest in employee development, and stay compliant will not only attract great talent but also retain it.
By focusing on both recruitment and retention strategies, you’ll build a resilient workforce that positions your business for long-term success.
How GTM Can Help with Hiring and Retention
GTM’s HCM technology and HR consulting expertise form a winning combination that can help address the hiring challenges listed above.
Our HCM platform, isolved, makes it easy to leverage employee referrals, customize application and interview questions, filter through candidates, and conduct interviews, getting you to the right candidates to fill your positions. Then the onboarding module gets your new employees off to a positive start by streamlining the process and allowing any new hire to enter information directly into isolved, avoiding duplicate data entry. The system also notifies the appropriate personnel and walks them through each step, task, and form that is part of your company orientation.
Our HR consultants can conduct an HR Audit, a comprehensive review of your human resources policies, practices, procedures, and systems, to identify areas for improvement and ensure compliance with legal and regulatory requirements. It is an internal examination conducted to identify and address potential exposure. It can bring to light specific employee concerns and offer ways to improve employee satisfaction and enhance the overall employee experience. Our experts can also review your job applications and interview process, as well as your background check procedures, new hire training process, job offer letter template, job descriptions, pay rate acknowledgement document, employee handbook acknowledgement document, and harassment training acknowledgement document.
Fill out the brief form below to receive more information or request a free quote today.
