6 ways to help you choose the best talent in a candidate-rich market

For companies who intend to hire in the upcoming months in the Philippines, you will likely benefit from a large talent pool. Right now, the Philippines is a very candidate-rich market, and companies are seeing a high level of applicants for each open job.

Receiving applications from dozens or even hundreds of candidates is great in terms of high chances to find someone who ticks all the boxes, but it can also create several challenges.

So, if you are hiring right now, how should your organization deal with issues that arise with sorting through a high volume of applications? And how can you be sure that you find the right fit, without allowing any high-quality candidates to slip through the cracks?

Here are 6 tips to help companies with hiring in these conditions in the Philippines.

1. Be specific in your job description.

Before opening up the position for applications, start off on the right foot by ensuring the job description accurately depicts what you are looking for. Murray Robertson, Associate Director, Michael Page Philippines emphasizes the importance of truly understanding what you are looking for.

“It starts with the initial agreement on what the company really needs. Then it becomes about communicating those needs effectively when posting the vacancy. We would suggest being specific on the 'must-haves' and also repeating specific keywords that focus on the select skills that you are seeking. This will ensure that your hiring needs come across in the job advertisement, minimizing unsuitable applications from the start.”

Related: How employer branding can help your company attract the best talent

2. Tighten up your recruitment process.

When dealing with a high volume of candidates, it is even more important to ensure that your recruitment process is organized and effective.

Review the process to ensure that your hiring team’s time is being spent in the most effective ways. Consider how many rounds of interviews are necessary for each open role, who needs to meet each hire, and how you will interview for factors such as culture fit.

This is a good time to start tracking metrics such as the number of applicants, and time spent in interviews, especially for the senior leadership team. Knowing how long is being spent at each stage in the process can help you remove inefficiencies, or restructure the interview stages moving forward.

3. Choose the right interview questions and skills tests.

In an interview, whether it’s the first screening or final rounds, asking the right questions is key. With effective questions, you will be able to understand who actually possesses the skills sets, experience and knowledge needed to succeed in a job.

Consider using behavioral-based interview questions that aim to discover a specific skill and will allow you to ask about specific experiences in a professional’s past.

Additionally, for technical roles, using skills tests are a straightforward way to find out who can do the job and to verify knowledge and technical skills. Design the tests in a way that will showcase a professional’s ability to handle situations that will come up for that specific role.

Related: 5 interview questions to ask to tell a great candidate from a good one 

4. Be ready with attractive offers.

Having a lot of candidates on the market doesn’t guarantee quality. This means that no matter the volume of candidates, companies will still compete to attract and retain the same high-quality talent, which is a significantly smaller pool.

Because of this, companies need to be ready to offer an attractive salary at, or above, market rates and use other non-monetary benefits. Robertson says, “With high competition for talent in the Philippines, companies should increase salaries offered, and focus on an effective recruitment process and employer branding.”

Related: Why a good talent attraction plan is the first step to retaining your best staff

5. Check for soft skills.

When there are many candidates with the same hard skills and experience, companies can look towards soft skills to find professionals who will truly bring value to their organization.

Robertson says, “The best soft skills to look out for will be a willingness to learn and adaptability. Seek out candidates that are able to show these skills in their past work experience or those that have gone through challenging situations that have helped them develop these skills.”

It’s harder to train candidates in soft skills, so looking for professionals that already possess the relevant soft skill set can be the differentiator between candidates.

6. Utilize external support.

If you are receiving an overwhelming number of applications, look into using automation software or partnering with recruitment consultants to help screen candidates and simplify the process. Automation is particularly valuable during the initial screening of candidates, both helping you find the higher value candidates and saving time when faced with stacks of applications.

Using the services of a recruitment company like Michael Page takes away a large amount of the administrative work, and allows you to focus on a few stand out candidates, freeing up time that can be spent instead on interviews and the later stages of the selection process.

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