By Iterate Team
Last updated: Feb 15, 2023
Download our eBook for low-effort, high-impact ways to get a major edge in today's hot hiring market.
Let’s face it: The hiring market is hot right now — monthly job openings are nearing historic highs — and yet, high-growth startups are still up against a wall when it comes to recruiting.
Why? These days, the demand for top-tier talent far outweighs the available supply.
As an increasingly scarce resource, qualified candidates are more discerning than ever when evaluating potential employers. With the metaphorical ball in their court, today’s job seekers are looking for more than just a market-rate paycheck; instead, they’re weighing their options and choosing to pursue opportunities that speak to them on a deeper, more personal level.
Now, factors like company culture, professional growth potential, work-life balance, and flexibility all play starring roles in the recruiting process.
Candidates want to see exactly how and where they’ll fit into an organization, and companies that paint that picture most clearly will have a significant edge in a wildly competitive talent market.
So, then, how do fast-growing startups help candidates best envision themselves as part of their teams?
By adopting a spirit of transparency.
The importance and positive impact of transparency on an organization cannot be overstated, and it all starts long before a first-round interview. Slack’s Future of Work study, for example, found that 87% of workers are specifically seeking transparency in their next roles.
Not only does transparency lend itself to attracting high-quality talent, but it also goes a long way in building trust and improving retention. In fact, another recent study shows that transparency is the number one factor contributing to employee happiness.
Like most things in life, adopting a spirit of transparency is easier said than done. Some companies attempt to do so by posting highly detailed job descriptions that include salary ranges for their open roles. Others might turn to social media to share highlights around company culture.
In practice, though, it’s up to each organization to chart its own transparency course, there are still concrete steps that any company can take to stay on pace with the ever-evolving times and candidate expectations.
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