Wise employers keep close track of people they almost hired, an activity that’s even more important in today’s tight labor markets, recruiters say.

Humana and Allstate are good models for making the best possible use of runner-up job candidates, Kurt Heikkinen, President and CEO of Montage, told Bloomberg Law. Both the health insurance company and the insurance carrier are clients of Montage, a recruiting technology provider based in Delafield, Wis.

Employers can scarcely afford to leave any talent on the table, especially qualified candidates who made it all the way to the final round of the hiring decision. The unemployment...