The monthly jobs report released on April 29 by the Maryland Department of Labor, Licensing and Regulation showed Maryland’s preliminary unemployment rate dropped slightly to 5.4 percent over the past month. The state lost 5,700 jobs in this same time, but has added 32,100 jobs over the past year. Baltimore unemployment rates are still moderately high at 5.7 percent, though Baltimore jobs increased slightly by 700. What do the Baltimore unemployment numbers mean for organizations looking to hire?
Though the higher Baltimore unemployment rate indicates more job seekers are on the market, top talent for specialized roles can still be tough to find. In fact, a recent Robert Half survey reported that 68 percent of chief financial officers (CFOs) nationwide found it challenging to find skilled candidates for professional-level positions.
To reach sought-after candidates, employers hiring for Baltimore jobs that require specialized skill sets should consider enhancing their networking efforts. According to Joe Gonzales, regional vice president of Robert Half in the Baltimore area, it’s important to “cultivate a talent pipeline by personally reaching out to your network and recruiting sources.”
You can reach out to your in-house network first, but you shouldn’t hesitate to look for outside help, too. For example, working with a recruiting firm may provide you access to talent you haven’t heard of, such as passive job seekers who aren’t on the job boards’ radar.
To further increase your hiring pool, Gonzales suggests “identifying the skills that are mandatory and those that can be developed.” He says, “The goal is to hire the person who is the best match for the job and your work environment. It's important to differentiate between ‘must haves’ and the ‘nice-to-haves.’”
Once your search has yielded results, "be competitive with your offers and don't wait too long when you identify your top candidate," Gonzales notes. By acting quickly, you can edge out the competition for top talent.
How does the latest Baltimore jobs report affect your approach to hiring? Let us know in the comments.