Infographic – 10 Ways to Get Passive Candidates into Your Staffing Agency’s Placements
Sometimes the best candidates aren’t necessarily the ones actively looking for new jobs. Staffing recruiters know that minus job dissatisfaction, passive candidates can be difficult to attract. Thanks to the employee engagement and polling experts at Gallup, we’ve come across a list of the top ten factors that might help you attract passive candidates and get them to make a move.
With the job market and economy showing signs of expansion, staffing agencies that successfully recruit passive candidates could create an advantage. Gallup’s 2017 State of the American Workplace reveals ten perks that U.S. workers say could persuade them to change jobs.
10 Benefits Passive Candidates Might Jump Ship to Gain
61% – Health Insurance
No surprise here – with many employers looking to cut health care expenses and some that can’t afford to offer it at all, companies that can offer and subsidize the cost of robust health insurance programs have a recruiting advantage with many active and passive candidates for whom this is a primary concern.
54% – Monetary Bonuses
Who doesn’t like extra money? Employers that are able to give employees a chance to earn money beyond that of their promised salaries enable workers to pay down debt, bank money for a rainy day, save for retirement, take vacations, travel, help others, and any number of other things.
53% – Paid Vacation Time
The average U.S. full time worker with less than 10 years of service to a company has from 5 to 14 paid days off per year (compared to as many as 28-30 mandated paid days off in some European companies). For employees who want to travel, spend dedicated time with friends or loved ones, or pursue other personal interests, paid time off can be a big attraction.
51% – Retirement Plan with Defined Benefit
Even Millennials, for whom retirement is a long ways off, say that saving for retirement is a top priority. For passive candidates of any age, the idea of moving to a company with a strong retirement program could become the motivation for change.
51% – Flextime
Flextime is usually defined as paid time off that employees can use for any reason. It can give employees the ability to take time off for preventive care (such as doctor or dentist visits they might not otherwise make time for) as well as their kids’ school plays, field trips, Christmas shopping – anything they choose. More than half of U.S. workers say that flextime is a perk they would change jobs for.
50% – Retirement Plan or 401K with Employer Match
Who doesn’t like free money? In the long run, employer matching programs are the equivalent of monetary bonuses, and an attractive benefit for many workers, especially for those who are especially worried about saving for retirement.
48% – Insurance Coverage Other than Health (Dental, Vision, Etc.)
Health Insurance a core employee benefit that can be further enhanced by other types of insurance important to workers, such as dental insurance, orthodontic coverage, vision, disability, etc. In addition, don’t overlook the appeal that free or discounted gym memberships, fitness coaching, health screenings, and other employee wellness perks might have for passive candidates.
48% – Paid Leave (Sick Days, Medical and Personal Leave)
No one wants to have to use vacation days to cover sick days, doctor appointments, or other not-fun days when they need to be away from the office. Even when employees don’t use some (or even any) of these types of paid leave, many appreciate knowing the time is there for them if they need it.
40% – Profit Sharing
Like bonuses, offering profit sharing is an excellent way for employers to directly tie employee performance and teamwork to their overall compensation. Four out of ten U.S. workers say that they would change jobs to work for a company that offered profit sharing.
37% – Part Time and 35% – Full Time Flexible Working Locations
Some jobs require that employees be physically present to fulfill responsibilities; some don’t. More than one in three U.S. workers say they would change jobs for the opportunity to work in a role where they didn’t always have to show up in person to clock in and out in order to do their jobs. Companies that offer flexible working locations could be especially attractive to passive candidates who want to reduce or eliminate the time they spend commuting, or have the ability to be available after school when kids come home, reduce the amount of time their pets spend home alone, and so on.
LinkedIn’s 2014 Talent Trends Report notes that only about 12 percent of those in the work force worldwide are actively looking for a new job, though an additional 13 percent say they are casually looking. The other 75 percent of the workforce is classified as “passive,” or not actively looking for a new position. Though they might not be actively looking, nearly half (45 percent) are still open to speaking with recruiters and 15 percent occasionally reach out to people in their personal networks. Only about 15 percent of those in the workforce can truly say they’re completely satisfied, leaving 85 percent who might be open to a new opportunity if the right one came along.
Since 75 percent of those in the workforce aren’t actually checking job boards and staffing agencies to explore open positions, the question for recruiters becomes how to reach those passive candidates who aren’t going to come to them. Passive candidates who are open to making a move represent a vast untapped source of talent; motivating them to change jobs (or even careers) can help make your staffing agency more profitable.
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Infographic: Statista.com featuring data from Gallup’s 2017 Employee Engagement Report