Recruiting and staffing professionals spend their careers working to connect the right candidate with the right employment opportunity. Recruiters do this by seeking out candidates who are actively looking for new opportunities.
But sometimes the best suited candidates are already employed. Persuading them to make a career move can be tough, but it’s not impossible.
Today the unemployment rate among people with at least a bachelor’s degree in “computer and math science” occupations was only 2% for the first quarter of 2018, according to estimates from the Department of Labor Bureau of Labor Statistics’ Current Population Survey. And the United States IT job market will continue to grow faster than the average for all jobs, at a rate 13% this decade alone.
And the stats for other labor markets are not that much different. The unemployment rate for engineers (as a group) is 1.4% and for all professionals and other related occupations the unemployment rate is hovering at 1.7%.
The bottom line: America is working. This is both good and bad within the context of our nation’s skilled labor shortage.
As a country we want our workforce to be totally engaged. Our Founding Father’s envisioned a strong, united and prosperous nation.
But, what if our nation’s companies have more job openings than candidates to fill them? When this happens, they turn to companies like CPI to fill in the gaps. Passive candidates are highly experienced individuals who aren’t necessarily looking for a new job, but they might consider a change for an opportunity with more desirable compensation or a more attractive benefits package. Recruiting them takes tact, sensitivity and diplomacy, as their motivation differs from that of active job-seekers.
CPI specializes in sourcing passive candidates for some of the largest companies in the world. “Recruiting passive candidates is both an art and a science,” said Jim Cowper, President, CPI. “Our recruiters are trained to utilize the most current and effective sourcing techniques.” In addition, CPI recruiters are also encouraged to think creatively and develop new ways to source and recruit highly skilled talent, whom often receive multiple job offers.
The CPI recruitment team(s) are trained to assess the specific perks or benefits of the employment opportunities they represent and market. Only when they have a full understanding of their “product,” are they ready to take it to those candidates who are currently employed. “Our job is to help the passive candidate understand how a new job will be an upgrade in his or her life. It’s not always about the money,” said Greg Allen, Senior Recruiter, Defense Division, CPI. “We have found that work/life balance and other benefits are often more important to the candidate.”
According to industry experts, by 2030 (and barring any economic disasters) it’s extremely likely that there will be a worldwide talent shortage, which will reach about 85 million people with needed skills. The estimated financial impact is projected to be $8.5 trillion of unrealized annual revenue.
In short, the issue of passive recruitment will continue to be at the forefront of recruiting trends for meany years to come. Companies that wish to stay ahead of the talent curve will do well to partner with a company like CPI, who can provide innovative workforce solutions, which includes the integration of passive candidate recruitment.