Finding the right quality talent is becoming increasingly difficult due to various factors, like geographic limitations, fear of uncertainty, etc. According to a report by Gartner, only 16% of the hired people possess the necessary skills.
On the other hand, skilled employees are looking for better opportunities over low-paying options. The ongoing concern for the COVID-19 pandemic is also adding to the problem.
So, how can recruiters and hiring managers today deal with this problem?
Well, the age-old methods will not do.
Instead, focusing on developing a new recruitment plan can help the companies take the right approach toward recruiting more excellent talents.
These strategies align the recruitment efforts with company goals and help establish a more refined hiring practice.
Here’s what the hiring managers of today need to implement to build a quality talent pipeline.
Review the Existing Corporate Strategies for a Solid Workforce Plan
It is essential to evaluate your current recruitment strategy before you jump into altering it. Ensure that all the recruiting methods, business strategies, and other departmental strategies align with the corporate strategy. You also need an effective job description to attract the right candidate pool.
For this, having a well-designed workforce plan can be beneficial. It will inform the recruiters and hiring managers about the required skills according to corporate priorities. This refers to acquiring quality talent that can meet the organization’s long-term objectives.
A proper recruitment calendar is also an integral part of the workforce plan. It could be used to highlight the key recruitment events.
For instance, companies may need a greater number of temporary workers during summer and need to recruit students.
January and February are also busy times, as the hiring managers usually receive the annual hiring budgets for that year. This is also when the majority of workers return after holiday vacations.
Moreover, recruiters must review the departmental budgets when recruiting. All of these fall within the boundaries of corporate strategies for hiring. Taking advantage of online platforms like LinkedIn and Glassdoor can prove to be helpful.
Develop and Promote a More Efficient Employee Referral Culture
The next stage in building an effective recruitment strategy is to find ways to attract new candidates. Amidst today’s economic instability, it is not enough to replace talent. The recent large-scale shifts in the workplace call for more evolved skillsets.
Therefore, recruiters need to make use of any new talent acquisition strategies that work.
Building a solid referral program from the ground up can be a solution to this problem. Employee referrals are proven to reduce the time-to-hire by 40%.
That’s not all! The current workforce is the most aware of an organization’s required skills and competencies.
The candidates they recommend reflect their judgment as well. For these reasons, they will always refer a new hire who fits the role the most.
Recruiting candidates via employee referral programs prevents candidate ghosting by delivering better communication. It can work in two ways:
- In a good employee referral program, you keep the referring employees informed. This helps them communicate the updates to the referred candidate in their network.
- On the other hand, the employees referring the candidates make sure to refer candidates who are serious about the position.
Of course, you would have to work on the employee value proposition (EVP) to balance the rewards and benefits accordingly.
Seeking the help of an automated referral program system can help streamline the process so that no details are overlooked.
Do Not Be Shy to Implement New Technology
While smaller organizations can still perform manual recruiting, larger enterprises may often need to deploy software programs. Fortunately, there are many options when it comes to building an upgraded recruitment strategy.
Did you know that 66% of job seekers wait less than two weeks to hear back?
The proper tools can accelerate the process and reduce the load on the recruiters. For instance, HR management systems can provide all the modules and help with basic functionalities to automate the process.
Recruiters can also seek help from vendors specializing in applicant tracking systems (ATS) with more advanced functions. The following technologies in this regard are worth considering:
- Resume-parsing tools can be used to scan the resumes of numerous candidates faster automatically. These tools can then place the data in the specified fields of the recruiting system. As a result, recruiters do not have to review each resume manually. Moreover, you can search for candidates based on specific keywords.
- With about 16% of organizations becoming 100% remote, automating the onboarding process is a need of the hour. By adding an onboarding module to the HR system or ATS, recruiters can automate and make the process faster.
- Video interviewing software solutions can help increase hiring efficiency by eliminating the need for in-person interviews. You can use it as a standalone program or as part of the ATS. Nonetheless, this is an effective way of recruiting candidates and can even help overcome demographic constraints.
- Artificial Intelligence (AI) can be used to place job ads, screen and rank resumes, and interview candidates. You can even pull data from websites and social media and build a more comprehensive hiring strategy.
In a rapidly changing job market, traditional recruitment strategies are not going to make the cut. Designing the proper job descriptions, utilizing appropriate tools and technologies, and placing the right people is the key to success.
As companies still struggle to accumulate highly skilled talent and adjust to the remote and hybrid workspace, it is time to upgrade the hiring strategies.
The first step is to assess the required skills and company goals and design an accurate job description. Recruiters must also use any tools available to stay relevant in a competitive job market.
With the three tips mentioned above, you can alter the age-old hiring methods and focus more on high-priority tasks.
Not only will this help companies cater to the changing candidate expectations, but it also aids in leveraging the labor market properly.
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