5 lessons from Austin on hiring in tight labor market

Austin, Texas, remains one of the hottest labor markets in the country, topping the Wall Street Journal's ranking of 377 metropolitan areas for the second year in a row. Inspired by the city's successes, here are five considerations for companies trying to recruit talent in a highly competitive market.

Culture counts

In a tight market, choosing a place to work is about more than the pay and benefits. The workplace vibe and attitude count for a lot. In a healthy environment, a company's culture can be found in everything from the look of the entry space to the placement of the coffee bars to programs aimed at growing and developing the people working there.

Perks like comfortable workspaces, quality onsite dining options, flexible work schedules, the proximity to nightlife, and the opportunity to pursue interests outside of work also can be significant to a candidate who has financially attractive offers from other compelling companies. Moreover, a healthy culture that rewards and nurtures talent while simultaneously allowing employees to balance their whole lives with work can aid in retention and thus help align the company's hiring velocity with its growth velocity.

A friend of a friend

Candidates and employees have networks that transcend the workplace. Employees who feel valued, challenged, respected, and well-compensated will let their friends know, both intentionally and unconsciously, in person and via social media.