Skip to Main Content

What JazzHR’s Latest Recruiting Data Means For Your Hiring Strategy

Kelly Peters

Last week, the Bureau of Labor Statistics released The Employment Situation for August. For the fourth straight month, the economy saw a decline in the unemployment rate, dropping to 8.4%  while employers added 1.4 million jobs.

Trends from JazzHR’s ~7,000 customers reveal that while SMB job creation is rebounding near pre-COVID levels, candidate traffic is steadying.

As reopening efforts continue, JazzHR customers have been creating progressively more jobs since early April. As of 8/31, job creation has now rebounded over 150% following the COVID-induced bottom.

Reflecting the decline in unemployment, JazzHR candidate volume has steadied following a late June peak. 

So what does this mean for you? Here’s how you can adapt your hiring strategy based on JazzHR’s most recent trends:

  • Diversify your sourcing 

With candidate volume leveling out after a surge in early summer applications, it may seem tempting to simply double down on old sourcing channels. But relying solely on pre-pandemic ways of finding candidates ignores how job seekers’ lives have changed.

With a record-low unemployment rate of 3.5% in February, pre-pandemic job seekers were able to more strategically target companies and engage in passive consideration. For very small businesses, these same job seekers may even still have been applying for open roles in person.

Explore new sourcing channels to make sure you’re capturing the full breadth of current job seekers. If you aren’t already, spend time on internal channels like employee referrals, which can often yield the highest quality hires.

Leverage resources like:

4 Reasons Why Your Best Employees Are Also Your Best Recruiting Tool

How to Use Social Media as a Powerful Recruiting Tool

6 Methods for Talent Acquisition through JazzHR

  • Prioritize quality

The talent pool you have today is vastly different than your pre-COVID candidate database. Passive job seekers may now react to current uncertainty by remaining in roles longer than expected, while candidates who previously wouldn’t have applied for your roles may now throw their hat in the ring.

Now more than ever, each hire you make has a significant impact on your organization. To avoid making a bad hire, focus on candidate quality. Use screening tools and automation wherever possible to ensure you’re finding the best-fit candidate from your talent pool.

Leverage resources like:

Do You Measure Quality of Hire? Most Teams Don’t, But Here’s Why You Should

Assessment Providers | JazzHR Marketplace

Background Check Providers | JazzHR Marketplace

  • Plan and Prepare

Even if you’re not actively hiring right now, use this time to reassess your current processes and strategy so you’re ready to restaff when the time comes. Review your current talent acquisition tech stack to ensure your team has the tools they need to compete in the new remote normal.

Remote interviewing solutions, for example, are now a must. In a recent survey, 41% of respondents told us that understanding how to use technology has been the biggest challenge in conducting video interviews. Encourage your team to get to know the tools you have in place now so they’re confident using them once you’re hiring again.

Leverage resources like:

Talent Acquisition Buyer’s Guide

Video Interview Providers | JazzHR Marketplace

9

Kelly Peters

COMMENTS