If you had a dollar for every time you heard about the tight labor market, would you be able to buy yourself lunch or an all-inclusive paid vacation to a resort in Mexico? Alright, a vacation to Mexico might be a stretch, but the labor market is a hot topic these days for a reason.
The Bureau of Labor Statistics recently listed the national unemployment rate at 3.8%, the lowest it’s been since 2000. The lack of available talent means that job seekers have plenty of employment options, forcing you to compete for available job seekers or try to pry candidates away from other employers. No doubt, those other employers are trying to steal your employees, too! To retain your top talent and attract the best candidates, you need to be seen as an employer of choice. To do that, you need to have a strong employer brand.