If you have an unlimited budget, which part of your company do you want to develop primarily?
Everyone surely has different answers to this question. But when HR managers were asked this question in Linkedin’s 2017 Recruitment Trends Report; the most frequent answers were Employer Branding, New Technology, Better Sourcing tools and Candidate Experience (1). As if that’s not enough, the total workload of recruiters in managers’ teams has increased compared to previous years (2); while the size of recruitment teams has not changed with an impressive 65% (3), according to the same research.
There is something wrong here. Companies are having difficulty in attracting the new talent and assessing them correctly. Technologies of the previous decade are failing to meet the emerging needs of today. Companies’ lack of technology is coming back to haunt them in extra workload on their employees who are already pressed for time.
Prolonged Recruitment Processes
The deficiency is not just there. According to the report, half of the recruitment processes of the firms take over a period of 1-2 months (4); even though the duration of recruitment is of great importance in measuring the success of managers (5). This inefficiency in recruitment causes a slight slow-down in business; however in the background there is a significant decrease in commitment and motivation to work. Presuming that 85% of employees start to lose their loyalty after the first 6 months, even a one month of a late start is critical for the company.
However, according to the report, companies spend more than half of their budgets on job board sites and staffing agencies; while this is limited to 8% for employer branding expenditures (6). Unfortunately the services that are far from fulfilling the expectations of better recruitment are still maintaining their strong positions on the budget front.
Simple and innovative technologies can solve recruitment managers’ problems with fast turnaround and quality candidates.
According to the report, one of the places where the company reached most of its candidates is social media (7) and it should be used more actively to attract talent. Companies that realize that the most effective way to “attract the attention of talent” lies in social media, have even begun to use it for their own benefits with “Targeted Recruitment Ads”. Now that we have the power to show ads to the people only in our target, why don’t we use this for recruitment?
Today’s Recruitment Trends
To assess the candidates correctly, the candidates’ application experience needs to be enhanced. This is important both to improve the employer branding and also to ensure that the candidate can give the best impression of herself. According to the report, the most important factor in today’s competition is to have the best employees with 57% (8). Today, companies that have developed their hiring process with video calls, chatbots and online tests have far better employees and are far closer to seeing the long-term benefits of this technology than companies lacking those technologies.
Luckily, it is not too late. We still have time to take action and jump on the bandwagon for new technologies to support the recruitment teams for better talent attraction and candidate experience.