Use Modern Methods to Recruit Better in 2019
Lana Cindric ·
A company isn't efficient unless its people are.
From seminars to recruitment ideas brainstormed in HR meetings, we all want to recruit the right people who can help our company succeed.
However, things have changed. It's no longer enough to post a job ad and call it a day. Modern times call for modern measures, and so do the changing workforce needs.
The 90% of the job market is now candidate-driven, and 25% of the US workforce will be over 55 by the time we reach 2024. You'll need new tactics if you want your company to succeed.
In this blog, we'll examine the latest HR and recruiting trends that can help you and your company recruit better and faster in 2019, while keeping your talent happy.
The recent advancements in the field of data analytics and application have allowed us to optimize nearly everything.
However, we still struggle when it comes to applying it to recruiting.
On average, it takes 42 days to successfully fill a position. And even when that time has passed, it doesn't ensure the hire will be satisfied with their job, or that you will be satisfied with their performance.
When costs of onboarding are factored in, it becomes clear that every time an employee leaves, it can cost your company up to $40,000 to fill the empty space.
Data-driven recruiting can help your company with decision-making that's optimal for the present and the future based on data analysis.
It's been proven to improve the most important hiring metrics such as: time to hire, cost to hire, and quality of hire.
By using all the data you collect on applicants, as well as performance data once they're hired.
The first option is using applicant tracking systems.
These systems eliminate the need for your HR department to manually go through hundreds of resumes. Instead, ATSs can distinguish between candidates who are the best fit for this position based on the materials they've supplied and pre-determined standards your company has decided on.
The system itself can also communicate with applicants and send emails and arrange meetings, reducing the time you need to spend on hiring while increasing applicant satisfaction.
Finally, ATSs keep diversity objectives in mind, making sure that your company is compliant.
However, data-driven recruiting doesn't stop with scheduling interviews. Once the candidates were successfully hired, ATSs track the costs and the time it took to fill the position.
The big data application to the hiring process helps even more with advanced systems allowing you to track the metrics throughout the employment lifecycle.
These newly-developed systems monitor how successful the process was in the long term, allowing you to make better decisions in the future.
Additionally, using data-driven recruiting can help you predict hiring needs and optimize your budget.
You'll be able to see employee turnover, the ratio of qualified to unqualified applicants, and characteristics that the best applicants and employees share.
You may be in charge of hiring, but the teams new employees will join are in charge of making it work.
Collaborative hiring is a method that was previously used by smaller companies who can collect all of their staff in one place to help with attracting similar talent.
However, the new methods are just as available to bigger organizations who want to leverage existing employees to draw in new ones, even beyond referrals.
Since 66% of job seekers believe that interactions with current employees of a company are the best way to gauge whether it's the right workplace for them, using collaborative hiring can be a great advantage in the current job market.
One of the main benefits of this method is increasing retention rates through allowing teams to give their insight on preferred new colleagues. This reflects on employee engagement rate, and it helps the company culture.
Down the line, allowing the existing employees to take part in the hiring process will also facilitate onboarding in a faster, more efficient way.
Typically, collaborative hiring includes a multi-stage interview. The top applicants meet the teams they'll be working with, or a few people. This helps establish the culture fit.
However, it can go further than that. You can include employees in the vetting process. You can even have them help with writing job ads.
After all, great minds think alike. Why not use that to help your company recruit better?
The top talent you want to attract is usually on the market for about a week but the good news is that around 80% of the workforce are passive job seekers.
In fact, 84% would consider changing jobs if they found a better company to work in.
This means that you're no longer just writing job ads or selecting from your talent pool. Instead, your company's hiring efforts have to be ongoing and you have to demonstrate your appreciation for the candidate (as well as your employer brand) throughout the process.
Most companies today invest in PPC advertising to talent for that exact reason.
Not only does that ensure you're reaching the right people through targeting, but it also has a good psychological effect on the candidates.
They immediately feel wanted.
Having a frictionless application process helps, as well. You don't want to discourage top talent from applying.
From forms to videos and other materials demonstrating your employer brand, you don't want the passive job lookers to be turned away by a clunky site that doesn't work on mobile.
You should also use up and coming tech to entice candidates into applying. Numerous companies use VR technology to give their potential hires a taste of what they can expect.
Finally, don't forget about the aging workforce. While there are differences between generations, they can work together. Implement a mentoring program that will allow older employees to feel more valued, while supplying the new, younger hires with the training they need for their career progress.
Today's recruitment requires a holistic approach. The technology allows you to optimize every part of the process, but you still have to employ the human touch to "seal the deal". When top talent is made to feel wanted, and offered competitive opportunities, they'll be more likely to stay at your company. At by merging the best of technology with the best of what your people have to offer, you can reach your one true employee faster than you can say: "Hired!"
- Recruiter Sentiment Study (MRI Network)
- Older workers: Labor force trends and career options. (Department of Labor)
- 8 Recruiting Metrics You Should Be Tracking in 2019. (Hire Vue)
- Employee Retention - The Real Cost of Losing an Employee. (PeopleKeep)
- Data-Driven Recruiting is Solving Decades-Old Hiring Challenges. (Smart Data Collective)
- 12 Recruiting Stats that Will Change the Way You Hire. (Recruiterbox)
- Passive vs Active Job Seekers. (Olive & Co)
- Employment Cost of a Bad Reputation Survey. (Corporate Responsibility Magazine)
- How VR and AR Are Changing the Recruitment Process. (HR Technologist)