The labor market is strong and continues to grow, with employers posting 11.3 million jobs in May 2022, making it an exciting time to be looking for a new job. According to the latest jobs report from the Bureau of Labor Statistics (BLS), hiring demand has remained strong in most industries, except for manufacturing and mining.
The current demand in the labor market is being driven by an expanding economy and low unemployment rates. This is a great time to be hiring, but it’s important to have the right strategies and tools in place. Let’s discuss some hiring process tips and tools, including using a hiring assessment.
The Current Demand in the Labor Market
As mentioned, the current demand in the labor market is being driven by an expanding economy and low unemployment rates. This means that there are more job openings than there are unemployed people to fill them.
In May, employers posted 11.3 million job openings in the United States, a signal of an extremely tight job market. The beginning of 2022 saw more workers quitting, however that has slowed now, and firing has risen. In May, 4.3 million workers quit their jobs, while there were 1.4 million layoffs and discharges.
Workers Continue Their Job Search
Job seekers continue to look for new jobs regularly, making it a good time to be hiring. However, there are a few tips to keep in mind during the hiring process to ensure it goes smoothly.
Hire for Potential
One tip is to hire for potential. When looking at candidates, don’t just consider their current skills and experience, but also think about their potential to grow and develop in the role.
This can be difficult to assess, but there are a few key questions you can ask during the interview process to get a better sense of a candidate’s potential:
- What are your long-term career aspirations?
- What are some skills you would like to develop in the next few years?
- When was the last time you learned a new skill?
Review Candidates Based on Your Current Organization’s Needs
Another tip is to review candidates based on your current organization’s needs. Consider not only the skills and experience a candidate has but also how they would fit into your company culture.
It can be helpful to create a list of key qualities you are looking for in a candidate and then use that as a guide during the interview process.
Use the PXT Select Employee Hiring Assessment Tool
One tool that can be extremely helpful during the hiring process is the PXT Select Employee Hiring Assessment offered by Corexcel. PXT Select is a innovative hiring assessment that can help you identify which candidates have the necessary skills and abilities for the job. It can also help you predict job performance and assess fit within your organization.
The PXT Select Hiring Assessment is a fantastic way to identify optimal candidates for the job and ensure a successful hire.
It works by candidates first taking an assessment that evaluates three key areas: Interests, Behavioral Traits, and Thinking Style.
Thinking Style: The thinking style portion of the assessment measures how an individual approaches problem-solving and decision-making.
Behavioral Traits: The behavioral traits portion of the assessment measures an individual’s approach to work, including their motivation, adaptability, and teamwork.
Interests: The interests portion of the assessment measures an individual’s preferences and interests in relation to work tasks and activities.
After taking the assessment, you will receive a detailed report that highlights their strengths and areas for development.
If you’re looking for a better way to identify the optimal hire for the job, then consider using the PXT Select Employee Hiring Assessment. This assessment tool can help you make better hiring decisions by finding the best fit for your organization.