Even towards the tail-end of the pandemic, the job market for creative advertising professionals is tight. Although other markets have high unemployment rates, both the advertising and marketing worlds struggle to find creative talent. There is such a high demand for creative professionals that the talent pool has become shallow. If you have found the perfect candidate, or the unicorn as we call them, chances are they have a line of offer letters waiting to accept.
As a company looking to hire creative talent, you will come to realize candidates have the upper hand. The talent pool is so shallow that companies are making the best offer possible to win the candidate. Especially in a time like this, you don’t want to pay more than you have to for a candidate, but when looking for talent, you don’t have a choice. When looking for creative talent, here are some of the best ways to win a candidate in a tight market.
Pay up
Now more than ever, candidates are showing their worth, especially when it comes to paying day. The pandemic took a hard hit on finances for millions of people, and people are now trying to recover. A tight candidate market means a candidate can list themselves above the asking price, and if you are not going to offer what they are asking for, chances are another agency will.
The cost of living has increased, but like any business, if there is a shortage of an item that people want/need, people will be willing to pay high prices. The same goes for the job market; the more you need someone, the more you will have to be willing to pay.
It’s all in the benefits
If your agency does not have the budget to pay more for a candidate, incentivize differently. Now that work environments have become more flexible, people are now choosing jobs with benefits over higher pay. The cost of living is not cheap, and companies can benefit by offering incentives to their workers.
When a candidate asks for specific benefits, it is better to accept their benefit needs than loo for a new candidate. It will take more time and energy to look for a candidate than to offer them what they want. A few examples of benefits you can offer are extended PTO, for those that believe in it, unlimited PTO, 401K matching, insurance, paid lunches, and tuition reimbursement.
Our business is people, so we understand the frustration that comes with a tight candidate market. Unfortunately, the market is not in the agency’s favor, and as a business, you will have to fight for good talent. Whether that’s offering higher pay, better benefits, or another alternative, you have to fight for what you want. We wish you the best of luck in your search for the right fit, and we hope these insights help you.
Clutch is a creative staffing partner. We connect digital, creative, and marketing professionals with companies looking for freelance, temp-to-hire or direct hire resources.
