Here are few things to bear in mind if you’re looking to hire in a candidate driven market:
Specifications of the job. Think what is essential and what is just preferable; this will open up your candidate pool.
Salary. Think lower and higher bandings. Lowering will provide you with a less experienced candidate – but if you can provide on the job training and support, would open another tier of options.
Location. Can you offer fully remote working? If so, you can seek options from all over the country and potentially even overseas. If not fully remote, allowing only 1-2 days a week in the office will increase your candidate catchment area exponentially.
Speed. Candidates are moving quickly; a long and overdrawn process can mean you miss out to fast hiring decision makers. Can the process be less stages or can two stages be together or back to back.
Flexible process. Assess the required interview process and adjust for flexibility. If one person is unavailable, who else can run this interview or flip the 2nd and 3rd interviews if required. Reduce the number of decision makers and if you find someone you like, expedite the process, and move quickly.
Adjusting expectations. Rather having a shortlist of 5, consider it realistic to have a choice of 2 or 3 to compare.
Be prepared for the counteroffer. You can help negate this from the start by ascertaining if money or lack or promotion is the main motivator.
Be commercial. Think what revenue I am losing by not having the right candidates, and how can I off set that by accounting for 10-15% higher pay to reflect market conditions.
Utilizing a third-party recruiter. You may have previously found employees through your own connections and company specific job postings. The right recruiter will have spent their career networking in your target area. They should also know the market and can advise on process. They can move quickly and have candidates available not on your radar and consult throughout the process for a greater chance of success.