Home > Resources > BLOG > How to Attract the Right Candidates in 2023

How to Attract the Right Candidates in 2023

The pandemic changed many things, and chief among them was Australia’s recruitment landscape. As a nation that relies on migration for much of the labour and skills that underpin our ...

How to Attract the Right Candidates in 2023

The pandemic changed many things, and chief among them was Australia’s recruitment landscape.

As a nation that relies on migration for much of the labour and skills that underpin our workforce, the two-year border closure has had a monumental impact on the talent acquisition market. With the unemployment rate at a record low, it’s never been more difficult to recruit new staff at scale.

ELMO Software recently surveyed 700 HR professionals in Australia as part of our annual HR Industry Benchmark Report. Now in its fourth year, the HR Industry Benchmark Report seeks to understand the priorities, pain points, and challenges in the HR community for the year ahead.  

We asked those involved in recruitment about the big challenges they’re facing this year. Download this year’s HR Industry Benchmark Report to delve into the full report.

The top recruitment challenge in Australia

According to 30% of respondents, attracting the right candidates is the most difficult recruitment challenge in 2023. This answer ranked higher than both the competition for talent and the skills shortage.

It suggests the recruitment focus has shifted from quantity to quality. The challenge isn’t so much finding a person for the role, but finding the right person. Given the potential budget constraints this year and the prospect of a recession, it makes sense that talent teams are honing in on quality hires.

Interestingly, the new hire turnover rate remains high compared to pre-pandemic times. Our survey found the average turnover rate for new hires within their probation period is 13%. Compared to our 2019 survey, the new hire rate is now 85% higher, suggesting that job mobility is still high.

With new hire turnover still an issue, hiring the right candidates is critical. As well as a thorough onboarding process, hiring the best fit for the job is more likely to ensure a successful hire in the long-run.

Given that it costs around $8,000 to hire a new employee and it takes an average of 24 days for each new hire to become productive, recruitment is a significant investment. That’s why it is so important for recruitment teams to ensure they’re hiring the right person for each role.

Three tips for attracting the right candidates

1. Start with a clear job description

An accurate and clear job description is the foundation of a successful hiring process. It helps to set out exactly what the role entails, how the organisation operates, and what success looks like.

Work closely with the hiring manager to ensure the job description is thorough and accurate, especially when it comes to the day-to-day roles and responsibilities involved in the job. Otherwise candidates may find the reality of the job is different to what they expected when they applied.

Be sure to detail what is expected of the successful candidate, both from a skills and an attitude perspective. For example, if you’re recruiting for a start-up, be transparent about the fast-paced environment of the organisation. By being forthcoming at the early stages, you’re less likely to attract the wrong hires. 

2. Conduct pre-employment assessments

Certain roles are suitable for pre-employment assessments which can help to evaluate a candidate’s abilities and fit for the job. 

These assessments can take many forms, including cognitive ability tests, personality assessments, and situational judgement tests. The main aim of these assessments is to help employers make more informed hiring decisions by providing additional information about a candidate’s skills, abilities, and work style.

They can also help to identify potential areas of weakness in a candidate’s skill set. After all, there’s no such thing as the perfect candidate. Every new hire will have some areas they need to develop. By pinpointing these areas early, hiring managers can be proactive in designing training and development plans for their new starter.

Ultimately, pre-employment assessments offer hiring managers more information on which to base their decision. However, it’s important to choose the right assessments for the role and use them ethically. Make sure the assessments are valid and reliable, and that they do not unfairly disadvantage certain groups of candidates.

 3. Encourage employee referrals

Employee referrals can be an effective way to attract the right candidates. Many organisations are now running employee referral programs to generate and incentivise staff to refer friends, previous colleagues, or industry contacts.

Research has found referred workers tend to be better hires. A study published in the Harvard Business Review found that for every 100 applicants, referrals generated 70% more good hires than non-referrals. They are more likely both to receive and accept an offer, stay at the job longer, and perform better in their role.

If you’re struggling to attract the right candidates, setting up a referral program could create a new pool of talent. Encourage your employees to refer qualified candidates and offer a referral bonus for successful hires. For more on this topic, download ELMO’s Employee Referral Checklist.

Want more recruitment insights?

Download the 2023 HR Industry Benchmark Report to explore the full survey results for yourself. From payroll to performance management, learning to recruitment, we’ve explored the key areas across the HR industry. Now in its fourth year, the report aims to equip HR professionals with data and insights for the year ahead.

ELMO Software is a leading provider of integrated, cloud-based HR technology operating in New Zealand, Australia and the UK. With over 3,000 customers, ELMO helps users to save valuable time, money, and resources by streamlining HR processes within one easy-to-use platform.

Highly configurable, the solutions can be tailored to meet each organisation’s unique needs and processes. What’s more, supportive implementation services and dedicated Account Managers help our clients to get the most from their ELMO platform and drive a higher return on investment. Visit the ELMO website to find out more or book a demo to experience the platform for yourself.