This article comes from Entrepreneur.

5 Top Tips for Hiring in a Tight Job Market

Here are five top tips for hiring the strongest candidates in the current employment climate.

1. Define your search strategy.

Top employers are using a variety of methods to identify qualified candidates. A balanced search strategy that integrates effective online tools will serve today’s companies well. Smart employers are enhancing their websites to sell their company’s story and culture to candidates. Additionally, companies are investing in targeted tools such as LinkedIn to ensure the right candidates see their job postings. Firms that are willing to pay for prominent placements on LinkedIn and other social media platforms are gaining the most exposure and winning top candidates.

2. Hone the interview process.

Before conducting any interviews, employers should clearly outline the qualities they are seeking in a candidate, prioritize those qualities and formulate questions that will reveal those qualities (or lack thereof). Create a list of “must-haves,” “like-to-haves” and “nice-to-haves,” then refer to that list while interviewing to measure how a candidate compares to the ideal.

Once a candidate has accepted an interview, employers should take the time to define who will represent the company in the process, including what specific information they are responsible for gathering from the candidate’s responses. It’s important to remember that in the current candidate’s market, the best talent is often being wooed by several companies at the same time. An interview will provide a candidate with their first glance into the company’s day-to-day operations and is a tremendous opportunity for an employer to sell their firm. For these reasons, interviews should always be conducted in a professional, private area that is free from distractions or potential interruptions.

3. Develop the right compensation package.

In order to compete and win top talent, today’s companies are re-examining compensation and benefits packages to align with current standards. Our firm’s recently conducted national survey revealed that compensation for real estate financial analysts, for example, has jumped by 29 percent in the past six years. Many other sectors are following suit, increasing salaries while also offering a wealth of perks consistent with the needs of today’s workforce, including flexible schedules and work-from-home programs, on-site amenities such as fitness and wellness programs, as well as robust health insurance, 401(k) plans and procedures for long-term growth.

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