Recruiting employees from the current available talent pool is not an easy task. As millenials have entered the work arena, there have been persistent questions about their ability to fit in the existing workplace. They are a generation that doesn’t like to get stuck doing the same thing, and know how to utilize technology better to find solutions and get ahead. Along with a different skillset, the millennial also bring a different mindset to the workplace, adjusting to which is a major challenge for employers. It is important for organizations to embrace the change to attract the best talent that can contribute to their growth. Recruiters have to start adapting their talent acquisition strategies and techniques to appeal to the current generation of workforce. This is where recruitment marketing techniques become important.
With the onset of 2019, there are going to be some new developments in the recruitment space worldwide, as each year brings with it a host of exciting possibilities and challenges. 2018 was the year when AI, automation and HR analytics were the most talked about terms in recruitment, and since the technology was still very new, these will continue to remain the mainstay of innovation in recruitment. What else is going to impact recruitment in 2019? Let’s examine.
Recruitment technology has witnessed a number of new developments in 2018 with terms like GDPR, Automation, AI and Blockchain becoming a part of public discourse. 2019 is likely to be even more revolutionary, with new developments in data analytics, & AI and machine learning, providing a favorable environment to transform the recruitment industry. However, organizations across the world will also have to step up their game to keep a tab on the emerging trends, evolve their infrastructure to implement new tools, and adopt best practices. Here are some of the major trends that will make their presence felt in 2019:
- Growth of recruitment marketing technology is the latest recruitment trend in 2019
- Improving candidate experience with Artificial Intelligence is the latest recruitment trend
- Background verification and assessment technology is a top recruiting trend in 2019
- The death of the CV will be one of the major recruitment trends in 2019
Growth of recruitment marketing technology is the latest recruitment trend in 2019
In simplified terms, recruitment is about selling roles to potential candidates. Amidst sustained talent shortages in the latest skills, it is imperative to use recruitment marketing and new marketing technologies to reach candidates through different channels at their preferred time of the day. Even after fifteen years, LinkedIn remains one of the most potent sources of highly qualified and experienced candidates as it has successfully managed to evolve the platform to fulfill the demands of the recruitment industry. Similarly, recruiters need to make sure that they are implementing best practices while performing daily routine jobs like job posting to get maximum visibility among the jobseekers. Also Read: Recruitment Strategies to Attract and Retain Talent
This is why Search engine optimization (SEO) will continue to play an important role as it provides the necessary visibility to job postings on the web. Most job applicants use search engines like Google to find jobs, and therefore, SEO will remain an essential component of recruitment marketing toolkit. Email marketing also continues to remain a vital means of communication with candidates.
In addition to all of this, one must not forget that with this smartphone generation youth, mobile apps, push notifications and Whatsapp has become a preferred source of candidate communication. There is an increase in the usage of Rich Communication Services (RCS) which in turn is leading to better engagement rates. These tools can also integrate with ATS systems are therefore ideal for improving talent engagement rates.
Improving candidate experience with Artificial Intelligence is the latest recruitment trend
Talent acquisition is one of the areas where artificial intelligence has found widespread acceptance. The reason behind this is that AI has shown verifiable results in improving recruiter productivity, reducing time to hire and hence improving candidate experience making it more intuitive and seamless. In 2019, we can expect to see continued exploration of possibilities that can be achieved with the application of AI, and the various ways in which candidate experience can be further simplified.
Whether it’s the bots that are making the application process faster or apps that simulate human conversations through text boxes or voice commands, AI is making more job search more fun for the candidates, enabling them to apply to jobs quickly and engage with employers with ease. Using these AI systems recruiters will be able to proactively communicate with candidates, and provide them with a 24/7 high value interaction consistently. Also Read: Why is Candidate Experience so Important?
Background verification and assessment technology is a top recruiting trend in 2019
Background verification and assessment is another area where AI is promising to make an impact and 2019 will certainly show some of that result. While earlier employee background verification process was manual and costly affair, often managed by external agencies, with Artificial Intelligence coming in the picture, this space is also undergoing a transformation for good. AI and machine learning promise to make the employee background verification process quicker, smarter, and more effective. An example of AI application in this space includes the Israeli startup, Intelligo, which is using AI and ML to make employee background verification 90% accurate. Another startup Vervoe introduced a hiring platform that uses machine learning to screen and predict skill sets, besides automating employee background verification.
In an age where digital fraud is on the rise and where recruiters spend multiple days on finding the right candidates, it’s vital to make use of background screening technology to avoid waste of their valuable time. Also, since the process of background assessment is multi-level, complex and time consuming, it makes for a perfect area of AI application.
The death of the CV will be a major recruitment trend in 2019
With Applicant Tracking Systems taking over recruitment, most organizations now have their own private database of profiles, stored on the cloud. This means that candidates don’t have to carry their CVs everywhere they go for an interview. Also, we’re going to see a change in how employees interact with candidates. Video interviews will become big where employers will have a chance to directly assess the candidate on the basis of their soft skills, personality and knowledge without having to call them for a face to face round to the office. Doing so will allow recruiters to easily assess candidates on a range of skills, from individualism, to creativity and an awareness of technology.
A McKinsey report in April 2012 an important fact was stated, “Companies with diverse executive boards enjoyed significantly higher earnings and returns on equity.” While this report emphasized on executive leadership, this statement applies as much to entry level employees as to the C Suite. A higher performing workforce is one of the biggest advantages of diversity hiring. What are other advantages of implementing a diversity recruitment strategy and how can recruiters attract and retain diverse candidates? Let’s examine in detail.
A recruitment budget is essential to cover all the costs associated with creating a recruitment strategy, engaging and recruiting talent, and retaining them once they are hired. However, it is essential to plan the recruiting budget correctly to effectively drive recruitment activities, capture crucial metrics and find areas of improvement. Without a well-planned recruitment budget you always run risk of overspending and ruining your entire hiring plan for the year. Also it can be difficult to track all the expenses that were incurred in hiring a candidate, right from the advertising the job to arranging lunch for candidates if required.
Mobile recruitment is not a recent trend, however, with the ever growing technological capabilities of smartphones, mobile recruitment has also grown stronger and acquired more prominent place in the overall recruitment strategy. So how exactly mobile recruitment works and what are its benefits? Let’s examine now.
- What is Mobile Recruiting?
- Why is Mobile Recruitment important?
- What are the benefits of Mobile recruitment?
What is Mobile Recruiting?
Mobile recruiting is a term collectively used for recruiting talent using mobile technology and hiring them on the go. Leveraging mobile technology for candidate engagement also comes under mobile recruitment.
Why is Mobile Recruitment Important?
Research tells us that the number of smartphone users is growing rapidly. In 2011, only 10 percent of the world population had access to smartphones while in 2018 this has grown to 36 percent. There were 2.1 billion smartphone users in 2016 which is expected to rise to 2.5 billion in 2019. Thus, the widespread adoption of smartphones by people across the globe indicates an immense potential in this technology to reach out to jobseekers from around the world.
This makes mobile recruitment one of the biggest game changers of the recruitment space. Besides, social media and mobile technology are closely related to each other and recruiters who are able to use these two technologies to their benefit can surely attract better talent.
What are the benefits of Mobile Recruitment?
- Improved candidate engagement is one of the top benefits of mobile recruiting
- Social Media Integration is an advantage of smartphone recruiting
- A wider target audience is enabled by mobile recruiting
- Better brand perception is an important value addition of mobile recruiting
- Increased productivity is achieved by recruiting on mobile
Improved candidate engagement is one of the top benefits of mobile recruiting
People are using smartphones as their single point of contact with the world. Whether it is checking their emails, social media accounts, or messages, it is now becoming the de-facto place for communication. This holds true for jobseekers as well. If recruiters have an active career site they can add a functionality to allow jobseekers receive alerts on their smartphones when they are shortlisted. Whatsapp, which is now the biggest instant messaging app in terms of active users can also prove an effective engagement tool where recruiters can communicate with candidates immediately when they are shortlisted for a particular role.
Also Read: Why is Candidate Experience So Important?
Social Media Integration is an advantage of smartphone recruiting
Social media surfing is one of the most prominent usages of smartphones. By building a good social media presence and integrating it with your mobile recruitment strategy you can drastically increase your reach. By posting on social media accounts you can drive visits to your own career site also. People are also more likely to refer their contacts for a job advertised on the social media channel owing to the convenience of sharing. It is important to have a mobile optimized career site which provides a seamless experience of social sharing to effectively utilize the power of mobile with social media.
Also Read: How to Create a Social Recruiting Strategy?
A wider target audience is enabled by mobile recruiting
Mobile recruitment has the potential to significantly increase the company reach to passive candidates who are too busy to go to a job board or career site and search for a better opportunity. Even these candidates would be checking their smartphones on daily basis. By creating a mobile optimized career site and optimizing the application process for the “mobile” user, recruiters can greatly improve their application rate. Organizations can also build recruiter mobile app that allows them to post jobs on the go, and view the status of the job created by them. This will not only add to the speed of hiring but also boost the overall productivity of the recruiters.
Better brand perception is an important value addition of mobile recruiting
Even if you do not want to create a separate mobile recruiting strategy, even having a mobile optimized company branded site can greatly affect the quantity and quality of the talent that your organization attracts. Most candidates, before applying to a job, research about the company and most probably use their smartphone for the same. Having a company website that breaks down on the mobile can leave a lasting poor impression thus harming the application rate. Thus, a mobile optimized company website is an important must-have.
Increased productivity is achieved by recruiting on mobile
With recruitment mobile apps, there is real time information available to recruiters who can check the status of the jobs created by them, review the candidate applications on the go and shortlist candidates remotely. They can also schedule interviews through these apps or view candidate documents like CV and others within a matter of minutes, anywhere, anytime. These smartphone recruitment apps allow recruiters to perform more in less time and with lesser efforts and hence a positive impact on their performance.
The race to hiring the top talent has become more competitive than ever. Recruiters can’t trust job boards and the career site as their only source of candidates. They need to broaden their recruiting strategy to include more channels and opportunities for making their next hire. These indirect channels sometimes prove more effective means of hiring passive candidates who are normally not active on job boards. Social media is one such indirect medium which has not only simplified communication within our network, but also expanded the reach of any and every business. Even Talent Acquisition professionals and recruiters can make a huge difference to their hiring outcomes by adopting relevant social media channels in their recruiting strategy. The question remains, how?
What is social recruitment?
Utilizing social media channels for advertising jobs, building CV database and hiring candidates is collectively referred to as social recruiting. Recruiters also use social media to research and identify suitable profiles for critical positions, which may not be looking for jobs actively. This is also called passive recruiting.
Economic prospects are looking optimistic post the 2008 global financial crisis. Businesses are growing rapidly and so is their need for talent. This has transformed recruitment into a highly competitive space where recruiters are using various tools, technologies and techniques instead of just relying on traditional methods. Social media is fast replacing traditional methods as the most effective source of hiring candidates.
Some Social Recruitment Statistics
- 70 % of hiring managers say social media has helped them successfully find quality hires. (2016)
- 80% of employers say social media helped them find passive candidates. (2018)
- 75% of potential candidates are not actively looking for a job change. Social media is the way to reach them.
- In 2016, 84% of companies were recruiting through social media.
- 79% of jobseekers are likely to use social media for their job search.
- 55% of the jobseekers decide to not apply to a job for an employer for which they have read a negative review on social media.
How to Create a Social Media Recruiting Strategy
- Figure out the best social recruiting platform for your company
- Do Employer Branding with Social Media
- Involve your employees while recruiting with social media
- Measure results of social media recruiting
- Use tools that enable social media recruitment
Figure out the best social recruiting platform for your company
Finding the right talent through social media starts with identifying the channel where your target audience spends most time. If you are an entertainment and media website, chances are you will find your prospective candidates on Facebook or Twitter rather than LinkedIn, because of the media-heavy nature of these social networks. Although LinkedIn is always an important place to start with because of its career specific nature, however in this case you might find passive jobseekers on Facebook consuming your content. In any case there are three most popular social media networks that you should use for social media recruitment:
LinkedIn: LinkedIn tells itself as the network for professionals. It is partly a job board as it advertises jobs from companies, features company pages and provides other recruitment specific features as well. Therefore, recruiting through LinkedIn is a no-brainer. As per data from Social Media Strategies Summit, 92% of recruiters have hired through LinkedIn at least once. It is glaring evidence that LinkedIn remains recruiters’ preferred network to source.
Facebook: If you think Facebook is only for casual conversations and content consumption, you can’t be more mistaken. Data suggests that jobseekers prefer Facebook over LinkedIn for getting hired. 83% of jobseekers are active on Facebook as against 36% active on LinkedIn. Facebook is the world’s largest social network with diversity in age, ethnicity and background. Facebook also provides a very effective targeting system through its paid jobs feature which can help recruiters reach out to rare talent for a particular role.
Twitter: Users on twitter are generally more active than Facebook and LinkedIn, although brevity is the soul of this social network. Using the right hashtags can help you reach out your job opening to potential candidates. Also utilize Twitter lists to connect with passive candidates.
Also Read: How to Improve Talent Acquisition?
Do Employer Branding with Social Media
Important reason recruiters should use social media for recruitment is that it provides them an opportunity to build a strong employer brand. The goal of building a commendable employer brand is to attract high-quality talent and social media can play an important role in this process. As per a LinkedIn survey, 75% of candidates research the social media to check a company’s reputation and 69% of them won’t apply to a company with a negative reputation even if they are unemployed. This makes it imperative for recruiters to put more time, effort and resources into promoting their employer brand on social media.
To establish an active and positive social media presence one needs to think about the brand messaging such as highlighting the most important parts of the company work culture through social media platforms.
Involve your employees while recruiting with social media
Having a strong employer brand automatically will enable you to use your current employees as your biggest advocates. If you allow your employees to share their voice on social media, prospective candidates will have an authentic and an insider view of the existing work culture, values and environment which they want to learn about. Employee advocacy is a recent concept that businesses are still warming to. However, using employees to spread your message will not only increase the reach but also find an audience that is more willing to listen. Numerous studies show that people trust people rather than brands. This is why employees should be an indispensable part of your social recruitment strategy.
Measure Results of Social Media Recruiting
To figure out the RoI of your social recruiting efforts it is essential to track all activities undertaken as a part of the strategy. Quality should always be given priority over quantity. Some of the obvious metrics that you would want to track include source of hire, time to hire, referral rates, and cost to hire. Tracking the number of applications submitted through social networks will help you find the reach of the network and the effectiveness of the recruiting strategy. Similarly, if your referral rates are going up, it effectively means your employees are sharing more jobs on social media which is again a sign of social recruiting success.
Use recruiting tools that enable social media recruitment
Instead of working on a standalone social recruiting strategy, a recruiter must make efforts to include it in their existing hiring process seamlessly. Therefore, the tools that are being used for recruitment, such as an Applicant tracking system must also be equipped to enable social recruiting. Features like one click sharing on multiple social media channels, source tracking and tracking referrals coming through social media are a must if you want an accurate picture of your social recruiting efforts. Therefore, invest in a comprehensive applicant tracking system that not only automates your hiring process but also enables a social media recruiting.
Also Read: Top 5 Recruitment Metrics That Matter
Talent management is becoming a key area of concern for most C-suit executives. Business leaders know that workforce is their biggest asset and plays the most pivotal role in success of a business. Therefore it is important to ensure that employees are happy, motivated and share the same vision as the company. It is in this context, that the concept of employee engagement is gaining a lot of attention these days. What is employee engagement and why do businesses need it?
What is employee engagement?
In HR, engagement simply means how motivated and energetic employees feel about their work. It’s not only about how communicative they are, or how satisfied they are with what they are doing as these emotions can be misleading. An employee might be satisfied with the little work that he is doing but is that good enough for the business? Employee engagement is the passion that an employee feels about their work, the extent to which they are committed to the vision of the business and the amount of efforts they put in the direction towards achieving it.
Why is employee engagement important to a company’s success?
A highly engaged workforce has often been found the key difference between a successful business and an unsuccessful one. According to a report by Gallup, 87% of employees worldwide are still not engaged at work. However, companies that have engaged employees outshine their competitors by 149% earnings per share. That seems a good enough reason to explain the need of employee engagement. Here are some other ways in which employee engagement adds value to your organization:
- Employee engagement to reduce attrition cost
- Impact of employee engagement on employee retention
- Employee engagement impact on revenue
- Effect of employee engagement on organizational performance
- Employee engagement leads to customer satisfaction
Employee engagement to reduce attrition cost
A disengaged workforce is more of a liability than an asset, slowly draining the business of its financial resources in the form of salaries, perks and other benefits. According to Gallup estimates, a disengaged workforce is costing businesses around $550 billion every year in terms of lost productivity. Also, since a disengaged employee is more likely to leave the organization, finding a new replacement for them will also waste valuable time, money and productivity. According to a study, it can cost up to 33% of the employee’s salary to replace them. With better engagement, this sheer wastage can be avoided. This clearly indicates the cost benefits of performing employee engagement activities.
Impact of employee engagement on employee retention
Engaged workforce bring more value and energy to the table simply because they are more connected with the business vision and have a firm belief in it. They are willing to stick to the company even when times are tough. Their loyalty is with the business idea and the vision of the company, not with a manager or any other individual aspiration. Therefore, it is observed that engaged employees reflect higher retention rate. When companies put in place effective HR engagement practices, they will into only increase employee motivation and their ability to work to their full potential, but also improve employee satisfaction level that ensures they remain loyal to the organization.
Employee engagement impact on revenue
Not only does an engaged workforce reduces financial drainage, but also positively impacts the overall bottom line of the business. The Gallup report estimates companies with highly engaged employees earn per share 2.6 times higher than the companies with low engaged employees. Similarly, businesses with a highly engaged workforce achieves 2 times higher net income than businesses with poor engagement levels. The Taleo research also found out that organizations experienced 26 percent higher revenue per employee where the engagement levels are high. A Towers Perrin research reported 6% higher net profit margins in companies with engaged workers. There is a growing body of research that indicates which now seems obvious; engagement drives revenues up.
(Also Read: Benefits of employee referral programs)
Effect of employee engagement on organizational performance
A HBR research when asked C-suite executives to define the factors which are most likely to bring success and growth in future received the following answers:
- High level of customer service
- Effective communication
- High level of employee engagement
Around 71% of the executives surveyed believe that high levels of employee engagement must be one of the priorities to drive growth and investment. When asked to rate the importance of employee engagement for business performance and overall organizational success, 48% gave a 9-10 rating which signifies extremely important. A disengaged workforce exhibits 33% higher absenteeism and is 60 % more error prone. These are some datapoints that directly reflect the impact of employee engagement activities on workforce performance. To foster a high-performance culture in the organization it is essential to engage with your employees so that roadblocks can be identified and worked upon.
(Also Read: Three Simple Steps to Avoid Making a Bad Hire)
Employee engagement leads to customer satisfaction
Based on the extensive evidences we have covered till now, it’s obvious that employee engagement impacts business outcomes positively. One of the best business outcomes for companies that have a greater engagement level is a highly satisfied customer base. It is not difficult to understand that when an engaged team puts in the hard work, and passion to deliver product or services, this will affect customer satisfaction. ISS, facility service provider collected 20,000 customer responses from over 2500 contracts and also 500,000 employee responses. The data analysis concluded a high correlation between employee engagement and customer satisfaction with a correlation coefficient 0.55, which is even higher than a correlation coefficient of sleeping pills and insomnia (0.38). This drives the clear conclusion that employee engagement affects customer satisfaction for businesses.
(Also Read: Why Employee Referrals are the Best Source of Hire?)
Metrics are the key to measuring success of any process. Without certain KPIs you wouldn’t be able to identify the areas where performance could be improved. In recruitment also, metrics act as a key indicator of the effectiveness of your recruitment process. As the usage of analytics in HR gains strength by the day, the power of metrics to provide a clear picture of the health of recruitment process in an organization also increases.
What are recruitment metrics?
Recruitment metrics are the standard KPIs used to assess and improve the hiring process in an organization. These metrics provide actionable insights on process effectiveness, and potential areas of improvements. The hiring metrics can be broadly divided into four categories, viz. speed metrics, quality metrics, productivity metrics and cost metrics. With adoption of the latest HR analytics tool, new metrics are being discovered to gain deeper insights on process improvements. Here we discuss the best metrics for recruitment success.
- Time to hire is one of the top recruiting metrics
- Source of hire is an important recruitment metrics
- Candidate experience is also a recruitment success metrics
- Quality of hire is also a measurable recruiting goal
- Cost per hire is another recruitment metrics example
Time to hire is one of the top recruiting metrics
Time to hire is one of the speed metrics. Also known as Time to fill, it pertains to the time taken by the process to identify and recruit a potential candidate for a vacant position in the organization. Knowing the time its taking to onboard a candidate on the team is important because it has direct relation to recruiter productivity, and process performance. Any organization would want to have the shortest time to fill so that candidates do not wean off to competitors during the hiring process itself. Candidate who is actively looking for a change would most certainly accept an offer that comes first their way.
(Also Read: How to reduce time to hire?)
Source of hire is an important recruitment metrics
When we look for productivity metrics examples in hiring, source of hire is the first metric to be noticed. Source of hire investigates the sourcing channel effectiveness. We know recruiters use multiple channels to source candidates to maximize their talent pool. Common channels include job boards, employee referrals, social networks and career site page. Identifying where best candidates are coming from can prove really helpful as that’s the channel you would want to allocate your job advertising budget. Also, the channels which do not provide relevant candidates can be identified and you could stop wasting the time/effort wastage on those channels.
(Also Read: How to Improve Talent Sourcing in Your Organization?)
Candidate experience is also a recruitment success metrics
Candidate experience, also understood as Candidate satisfaction is one of the quality metrics that recruiters must take care of. To measure this, candidates are asked to provide a feedback on the hiring process of the company. Just like we have a consumer Net Promoter Score to gauge consumer satisfaction, hiring managers now create a candidate NPS to gauge candidate satisfaction. A standard set of questions that you may ask to candidates in and after completing the hiring process such as:
- How would you rate your overall experience working with the organization during the hiring process?
- How was your experience with the recruiter?
- How satisfied are you with the speed and responsiveness of the recruitment process?
A satisfied candidate is definitely an indicator of successful hiring process. It helps in improving the employer brand and consequently gain access to better talent in the long run. On the other hand, an unsatisfied hiring prospect can vent out their dissatisfaction on various online channels, harming the reputation of the brand and also reducing chances of getting the top talent.
Quality of hire is also a measurable recruiting goal
Quality of Hire is another measurable recruiting metric that is also known by the name of First Year Quality. The first year performance of the candidate, often judged by their performance rating gives an insight into the quality of hire. Naturally, candidates who get a good performance rating are considered as a good quality of hire while those with low performance rating are indicative of bad hires. A bad hire can be a liability and prove costly, financially as well as through loss of productivity. Thus there are huge repercussions to a bad hire, in terms of direct as well as indirect costs. If you combine quality of hire with sourcing channel effectiveness, it can provide details of sourcing channel quality, which again will help you control recruiting costs and improve performance.
(Also Read: Three Simple Steps to Avoid Making a Bad Hire)
Cost per hire is another recruitment metrics example
A simple way to measure the cost per hire metric is to divide the total costs incurred in a recruitment process by the number of hires. However, in order to come up with an accurate cost per hire figure, you must keep in mind the multiple cost structures. Total recruitment costs include the internal recruitment costs, such as the total time spent by recruiters in hiring, lost productivity as well as the external costs such as advertising budget, candidate expenses, consultant fees and others. A low cost per hire is desirable and achievable with measures to control any loss in productivity and proper allocation of budget. In fact, if we continuously measure and control all other recruitment metrics, cost per hire will automatically be taken care of.
How to measure recruiting metrics?
While knowing the importance of these metrics is one thing, measuring them and implementing the insights is another. There are various analytics tool available that can help you in accurately calculating all these metrics. For example, sourcing channel effectiveness can be measured by using Google Analytics to track where the people who viewed the job/or filled the job application form on your website actually came from. You can set goals to check the conversion rate. If its too much a task for you to capture all these metrics separately than it makes sense to invest in a comprehensive recruitment software that comes integrated with advanced reports and analytics to measure the vital hiring metrics. These software provide graphical reports based on data collected from recruitment activities conducted in the organization. Based on these reports, you can take corrective actions wherever required.
Recruitment has become a battleground of sorts, where a constant fight is on for the best talent. To survive in this battle, one needs to have a solid recruitment strategy. However, prior to that, there is something that needs attention and is extremely important – sourcing, because the foundations of successful recruitment begins with knowing where to find the best relevant candidates. A recruitment process needs to identify sourcing as an integral part so that when a position is available, you have a ready-to- refer pipeline of candidates. Learn more about the importance of sourcing in recruitment.
Today, finding the right talent without effective sourcing methods in place is like finding the needle in the haystack. Talent shortage has made the situation even more difficult, which is why sourcing becomes all the more important. But what makes sourcing a specialized field of its own?
What is sourcing in recruitment process?
The goal of sourcing is to find and identify matching candidates for a target profile. It is much more than performing a specialized resume search on the CV database or just perusing the applications received in response to a job posting. That’s what generally recruiters do. However, a sourcing specialist would proactively search for qualified passive candidates by creating interest around an open position and convincing candidates to apply. A sourcing specialist uses different methods and techniques, including social media or a Google resume search by creating Boolean strings to help broaden the search.
(Also Read: A Guide to Boolean Search Recruiting with Examples)
Sourcing vs Recruiting
The difference between sourcing and recruiting can be hard to fathom and understandably, companies are not willing to invest in a dedicated sourcer because they have no idea of the return on investment that it offers.
Recruiting functions include networking with candidates, screening, scheduling interviews, making reference check, and many other related tasks. However, all these can only be possible if there is a pool of qualified candidates. Filling this pool with hireable candidates takes tremendous time and effort. A sourcing specialist identifies the channels that provide the most qualified talent. Recruiters are driven by results whereas sourcers are driven by research and networking. Other sourcing functions include making direct calls to passive candidates and utilizing the various available sourcing tools.
With the focus on hiring top talent before it is hired by the competition, the sourcing expert can improve the results of a recruiter who can focus on their work of filling the open requisitions.
Benefits of sourcing candidates
Sourcing is now considered a vital component of the overall recruiting process. As we know now, sourcing is all about building talent pipelines with a large pool of passive candidates of high caliber who can be hired for an open position when needed. Investing in sourcing is essential to give you a long-term talent supply.
- Sourcing is important in recruitment to improve quality of hiring
- Benefits of sourcing in recruitment in reducing time to hire
- Benefits of talent sourcing in improving workforce diversity
Sourcing is important in recruitment to improve quality of hiring
The shortage of qualified talent means that one has to proactively look into different resources to find candidates
that may be interested and qualified for the available job. In the current job market, as much as 75% of eligible candidates are not actively looking for a change. These passive candidates are open to a job opportunity if provided with the right information, compensation, perks and benefits. A sourcing expert would know the methods and techniques to find these candidates and reach out to them. Sourcers are adept at creating customized value proposition to attract and connect with top talent. With their sole focus on finding a candidate with the highest caliber that the hiring manager would want to hire, it’s easy to see how sourcing will improve the quality of hire.
(Also Read: Top 5 Recruitment Metrics That Matter)
Benefits of sourcing in recruitment in reducing time to hire
In an organization where recruiters are doing the sourcing, you should definitely expect some delays in the overall
recruiting process. Recruiters already have a plethora of tasks to complete, with little to no time to left for building a talent pipeline. Sourcing professionals, with their expertise and experience can support them by surfacing talent they would want to hire for the available position. With talent sourcing in place, open positions are filled almost immediately as sourcers have already identified and vetted a large pool of talent, thus shortening the recruiting cycle and reducing the recruiter’s workload also. Recruiters now don’t have to spend time reaching out to candidates, know their expectations and if they align with that of the organization as that has already been taken care of.
(Also Read: How to Reduce Time to Hire?)
Benefits of talent sourcing in improving workforce diversity
Since sourcing solely focuses on finding the right talent matching the job requirements, there is enough time to find and convince diverse professionals to consider your company as a perfect career destination. With their research and networking skills and no rush to sell, sourcers have the time and opportunity to attract culturally, and professionally diverse individuals and improve workplace diversity.
Recruiting and sourcing are increasingly recognized as distinct activities with very different goals and outcomes, requiring very different skills and processes. Sourcing is so much more than simply specialized resume search and candidate name generation. It has turned into a specialized field of its own, and if you don’t understand the difference between sourcing and recruiting, it will end up adding to the overall cost and time to hire.
(Also Read: How to Improve Recruitment and Selection Process)
What’s the purpose of making recruitment a strategic process? As per research by Josh Bersin, Principal & Founder of Bersin Research, companies spend 3 times more on recruiting than on employee training. Owing to high employee turnover rate (around 20 percent of all workers change their jobs every year), recruiters are continuously in the hiring mode, advertising jobs, sourcing, screening, interviewing and onboarding candidates. With so much complexities involved, thinking of recruiting in a linear fashion wouldn’t bring out the best results. You need to have a recruitment strategy that makes the process more efficient and helps achieve the desired results.
What is a recruitment strategy?
Recruitment strategies define the approaches to be used in order to get the best talents from the job market. These are a combination of choosing the right recruitment processes, right target audience and the right approach to make the best hiring decisions. It is a plan of action in place to successfully find and recruit high quality candidates.
Recruitment strategies to attract and retain talent
- Data Driven Recruiting Strategy
- Work on Passive Recruitment Techniques
- Adopt Creative Recruitment Strategies
- Develop Strategies to Recruit Global Talent
Use Data Driven Recruiting strategy
A huge amount of data is generated in recruitment every day; during the application process, while screening candidates, while communicating with them or assessing them after hiring. The advent of tools that can analyze this “Big Data” and provide actionable insights has led to the development of data driven recruitment strategies. Recruitment teams using data driven recruiting are more likely to reduce their hiring costs and improve the recruitment efficiency. Tracking data at every juncture of the recruitment process can result in real cost benefits. For example, tracking source of hire to determine which channels bring the best candidates will allow better budget allocation for job advertising. Similarly, tracking the conversion ratio of applications from one hiring stage to another can show the efficiency of the recruitment funnel and unearth any underlying issues which might be impacting the recruitment performance. Using data driven strategies, you can easily build a business case for further investment in technology to better utilize the available data.
(Also Read: Big Data in HR: Why it’s here and What it means)
Work on Passive Recruiting Techniques
Most recruiters are so occupied pursuing active recruitment strategies that they do not have any time or patience for passive candidates. Passive recruitment refers to attracting potential candidates who are not actively looking for a change. While this might seem counter-intuitive, passive candidates can actually serve as a great investment as the competition for them is the least. In addition to the cost benefits, candidates hired through passive recruitment techniques tend to stay longer with the employer as they will take the decision to change their job based only on strong reasons. However, to make passive recruiting successful, patience and communication skills are necessary as the whole concept of passive hiring is based on reaching out to interesting profiles, following up with them and gradually building a trustworthy relationship. In active recruiting, job ads discuss skills and experience required. However, in passive mode recruiters are in selling mode, and until you talk about opportunities and growth, you are not going to excite the passive candidate to leave his well settled job. Passive recruiting work best for leadership roles as most candidates on executive level are not actively looking for job change.
Adopt Creative Recruitment Strategies
Creativity is not meaningful only for so-called creative professions. In today’s age, as much emphasis is laid on being technically equipped, equal value is given to creative thinking. Recruiters can also be creative while planning their hiring plan for the year. How, you may ask? It depends on your target audience. If you are targeting millenials for a role, then using quirky social media posts for attracting their attention could be a good idea. A good example is the Hubspot’s Pinterest page which introduces jobseekers to its work culture and office.
(Also Read: Hiring trends in 2018 That You Can’t Ignore)
The famous fast food chain, McDonald uses Snapchat to find relevant candidates. It runs 10 sec ads on Snapchat where its employees talk about their working experience in McDonald. PwC hosts a monthly podcast to discuss workplace challenges, Johnson & Johnson uses the text recruiting app Text.io to review the language of its job postings, and Walmart goes even further by using virtual reality to attract potential candidates. With the advancement in technology and development of online social tools, we are living in a barrier free world where nothing is stopping your creativity to come up with next winning recruitment strategy.
Develop Strategies used to Recruit Global Talent
When economies are going global and we hear talks of inclusive growth and development, limiting your recruitment process to a very miniscule target audience of your city or state will be a regressive step to say the least. Growing economies also need more talent and if a jobseeker who stays in another state or country is qualified and willing to move, then why not hire them? Also, if the nature of work allows candidates to stay at home and work remotely, your hiring strategy should definitely be global. Global talent adds diversity to workforce, and brings a different perspective to any business problem.
After all, your prime responsibility as a recruiter is to attract and retain top talent, as it is the key to remain competitive. However, you need to do some extra work for hiring an offshore employee. Taking care of aspects like different time zones, communication styles, cultural difference now become a priority. Doing due diligence in these areas will make sure your rest of the recruitment process goes as planned. But first you need to make your employer brand such that it becomes a talent magnet for jobseekers globally.
(Also Read: How to Improve Your Human Resources Department?)
NAUKRI RMS ADVANTAGE
ABOUT NAUKRI RMS
“Naukri RMS is the Enterprise Cloud Business division of Naukri.com. Since its inception, Naukri RMS has developed a bouquet of customized recruitment solutions addressing needs of different market segments. Naukri RMS intends to evolve recruitment into more productive and efficient process through automation of the entire recruiter workflow, right from requisition to offer. It aims to become India’s largest one stop recruitment platform. “