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If hiring is on your company's horizon, there are a few changes in the landscape to which you should be paying attention. This article uncovers recruiting trends that will help recruitment department and its professionals to pose themselves as a strategic business partners. Highlights from the various research reports have been incorporated to compile this article.
Highlights
Obvious Ones - Quality of hire, employee retention, skill-based hiring, more emphasis on videos and mobile, selling capabilities of job descriptions, automating recruitment process among others.
Shockers – Social recruiting and any form of broadcast recruiting is obsolete, Gen Z candidates will take over job market, about 3.1% raise in salary, and improving office design to attract talent(!!).
Details:
Quality of hire was the most sought after metric by employers in LinkedIn’s 2016 Global Hiring Trends, it mounted up to 39%. To ensure quality of hire, changing tactics to reach candidates is necessary. It is forecasted that current process to reach candidates are obsolete; and this includes social recruiting. Employers and recruiters might have to look for new avenues to fish out quality candidates. While some say quality candidates are 'extinct,' we think it's all in where and how you reach out to candidates. In other words, the most effective companies will move away from broadcast marketing involving job boards and engage in direct marketing. To attract talent, organizations will need to build databases of candidates and consistently spend time building relationships with those people. Or find a platform that does that for them. And during this engagement process relationships between candidates and recruiters are moulded.
Like I mentioned before, the secret to finding quality & skilled candidates is about what to look for in a candidate and not what s/he shows on their resume. In an increasingly competitive job market zeroing-in on a candidate's personality and natural attributes becomes important. Doing it involves having a measurable process to determine whether people possess certain traits. Look for two major traits, unlearning capabilities and receptive nature.
And because candidate engagement and employee retention for employer branding is crucial, employing more video-based interviews and engagement techniques has been deemed beneficial. Among all the forms of media available, videos impact people the most, online videos now exceed 50% of mobile traffic and 64% of all Internet traffic. It’s an engaging way to show the culture of a company, as well as the excitement and passion around the company’s mission, products and services. Go for personalized recruiting videos, video job descriptions and may be even video job offers. Video selction can be employed for out-of-area candidates and first-round can with video interviews in place of telephonic interviews. Employer brand is a two-way process—candidates apply for companies based on the positive reviews they garner. Almost like evaluating consumer brands before shopping. On the other hand, employees are your brand ambassadors adding up to your brand value. LinkedIn’s report found that nearly 60% of companies are investing more to improve employer brand in an effort to keep current employees happy and recruit new, well-qualified talent.
HR thought leaders suspect that talent acquisition might turn into a seller’s market very soon. If the company takes too long to respond, they might pass it up for another— the competitive market provides them the opportunity to do so. Being quick is one aspect or engaging them can be another take on avoiding candidate drop off.
If you thoughts millennials rein the job market; brace yourself, because 2016 has a package waiting for you. Younger minds, explosive ideas – yes, Gen Z. So, engaging innovative young minds and building relationship with them can be very daunting.
This brings me to selling capabilities of job descriptions – this is the real test of your creativity and your candidate’s grasping power. Go whacky, or go any which way you like. Please do not stick with, “we are looking for dash professionals with dash qualities,” they are such a bore. Get their attention, mobile is the place for you to start. It’s 2016, if you haven’t made the most essential tool in hiring, the career page mobile centred, you are 15+ years behind (not kidding).
Referral hiring has been one of the most effective means to hire quality candidates who are also retentive. LinkedIn’s survey shows 2x increase in referral hiring, from 15% in 2014 to 30% in 2015. Referral hiring means like minded people working together, which means stronger workforce. Stronger workforce adds to productive work and as an end product you see more revenue, better branding, new candidates. The cycle of hiring is thus complete.
After working so hard on recruiting candidates, employers would definitely want to keep them. LinkedIn’s Survey suggests that 32% employers said they focussed on employee retention.
Abridged Version:
Unique sourcing process to find quality and skill based candidates; incorporating videos and mobile from start to end; Gen Z demand special attention, faster, and easier hiring process; automate recruitment to engage with candidates; retain candidates to improve employer brand; innovate job descriptions and promote referral hiring to see better candidates pool in.
You have probably read umpteen number of 'must read hiring trends' listicles. But have you thought of implementing it at all?
“I’ll get to it later” approach for our company will, unfortunately, mean that your firm’s competitors will implement these practices faster and they will win a top talent.
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