The financial industry is currently facing a shortage of workers, while banks are struggling to find job applicants with relevant tech skills. One way to expand your talent pool is to contact passive candidates — those who are currently not searching for a job because they already have work. These individuals are statistically more likely to be qualified for a role in your organization and require less training, making them highly attractive. But how can you find passive candidates in the banking and finance sectors and convince them to join your team? Read on to find out.
Passive candidates aren’t actively looking for employment. However, they might be open to new opportunities, especially if an employer offers them something extraordinary, such as a high-paying role or generous benefits. That’s why many of these individuals still check their LinkedIn profiles and browse banking and financial subReddits. If the right job comes along, they could be willing to leave their current role.
If someone showcases their experience and expertise on r/Finance or r/FinancialCareers, contact them directly and strike up a conversation. You never know — a passive candidate might be interested in joining your team. The same goes for LinkedIn. Once you’ve found a passive candidate on the platform that matches your job requirements, send them a direct message. Explain that they have the skills you are looking for and ask if they are willing to learn more about your company.
But how can you find top talent on LinkedIn in the first place? Talent analytics software will help. Tools like Sprout Social let you filter LinkedIn profiles based on different criteria, helping you discover passive candidates in banking and finance with highly sought-after skills. You can also source candidates in a particular location.
Passive candidates aren’t checking Indeed or ZipRecruiter for new jobs. However, they almost certainly browse social media to learn the latest trends in the banking and financial sectors. By advertising a job on Twitter or Facebook, someone with the right skills for your role might come across it and think twice about their current position.
Feeling really brave? You could tag a passive candidate in your job post. If there’s someone that you really want to work for your company, this might be the first time they find out about your position. Alternatively, send them a direct message with a link to your job description and quickly explain why they would be perfect for it. You might not receive a response, but it’s worth a try — especially when not enough qualified candidates are applying for your job.
Passive candidates can learn how great your company is through simple word of mouth. If someone close to them raves about your company culture or work-life balance, they might want to know more. To increase the likelihood of that happening, you need to get people talking about your organization.
The easiest way to create buzz around your company is through marketing. Creating content such as blog posts, videos, and webinars requires an investment but increases awareness about your organization. You’ll want to include information in your content about why you’re an awesome employer. That means highlighting factors like your positive working environment, strong values, career progression opportunities, or anything else that makes you unique.
Thought leadership content, in particular, will strengthen your reputation and make you a more desirable employer. You’ll be able to demonstrate what your company believes in and why it’s a fantastic place to work. Posting unique insights about banking and finance can also help you increase your credibility and attract more passive candidates to your job positions.
Attracting passive candidates to your company is hard work, so you’ll need some help. It is a good idea to ask your current employees to contact qualified professionals in their networks. They might know someone perfect for a job position, and convince them to jump ship and join your organization.
Creating an employee referral program will encourage existing team members to help you source passive candidates. This recruitment strategy incentivizes employees to reach out to their networks and bring top talent to your organization. If someone finds you the ultimate candidate, you can reward them with cash, vouchers, or even paid time off.
Research shows that 37% of American workers are passive candidates, meaning they’re not currently looking for employment. If the perfect person for your job role is in that 37%, you’ll want to attract them to your organization. You can increase your chances of recruiting passive candidates by contacting qualified professionals on LinkedIn and Reddit, advertising jobs on social media, creating a buzz around your company, and establishing an employee referral program. Remember, the right candidate for your job might not even know about it!