Twenty-two percent of workers are planning to change jobs in 2017, according to a survey conducted online by Harris Poll on behalf of CareerBuilder, compared to 21 percent last year. These numbers are higher among younger workers, with 35 percent of workers ages 18 to 34 expecting to change jobs in 2017, compared to 30 percent last year. This compares to 15 percent of workers ages 35 and older. The survey found that 35 percent of workers are regularly searching for new job opportunities even though they're currently employed – a one-point increase from last year (34 percent). Besides finding a new job, the top New Year's resolutions workers say they're making for the office this year include: save more of my pay (49 percent); be less stressed (38 percent); get a raise or promotion (30 percent); eat healthier at work (28 percent); and learn something new (26 percent).
2017 Recruiting Trends: Welcome to “The Year of The Algorithm”
Dr John Sullivan December 8, 2016
Dynamic, rapid change is not something we traditionally associate with corporate recruiting, but buckle your seat belt, because 2017 is going to bring exactly that.
As the rate of change and level of uncertainty in the business world rapidly accelerate, recruiting will have no choice but to be swept along with it.
The coming trade uncertainties from Brexit and President-elect Trump’s perspective on trade will dramatically impact international investments and thus, where work is done and where we recruit. Market cap leading firms like Apple, Google, Microsoft, Amazon, and Facebook continue to be the examples to which every CEO aspires. But while other firms try to follow their lead to become digital innovators, the average corporate recruiting process actually scares away the most forward thinking and ground-breaking candidates.
Technology and robotics will begin eliminating many jobs at all levels. This will obviously reduce the need for many recruiters, while at the same time, require any remaining recruiters to focus on attracting hard-to-find and hard-to-sell technologists in every business function.
WHAT WILL REALLY MATTER IN 2017
You heard it here first: 2017 will be “The Year Of The Algorithm” as the shift to a data-based decision-making model takes off faster than ever before. Google’s success with harnessing candidate data to become the number one employer brand has led other corporations, like Sodexo, to join the analytically driven world of business.
Among the many weaknesses, this data has revealed is the failure rate of our hiring systems, which can often reach 50 per cent. College degrees, the school you attended and your grades are not the accurate predictors of success we thought they were. Data has also revealed poor hiring assessments can lead to up to 80 percent of employee turnover, according to the Society for Human Resources Management (SHRM). Years after Moneyball was published, recruiting is finally creeping toward adopting this numerical model for assessing talent. Coupled with the new wave of recruiting technology (i.e. recruit-tech) which also runs on numbers, no firm will be able to escape data-based recruiting decisions.
EXPECT THESE TRENDS IN 2017
- Prove your results or your approach will be dropped – Under traditional corporate recruiting, programs could remain operational for years without being challenged. However, under the new data-driven model, approaches and tools (e.g. sources, screening criteria, interviews, reference checks and brainteaser questions) with a questionable validity will simply be stopped. They won’t be reinstated until they can prove that they have a positive impact on the performance level of new hires.
- Quantify your business impacts in $ – The language of business is dollars, so existing recruiting programs will no longer be fully budgeted unless they can show that their direct dollar impact on strategic business goals (i.e. new hire performance, revenue, innovation etc.). This also means that recruiting results will have to be reported in their traditional numbers but also in their dollar impact on corporate revenue.
- Focus on innovators – The extremely high market valuation placed on serial innovation firms like Apple, Google and Amazon show the value of innovation over efficiency and productivity. The value of a single innovator may be two-and-a-half to 30-times higher than a high performer, so firms need to develop data-driven processes that are designed specifically to identify, recruit and retain them.
- Recruit-tech software and hardware eclipse tradition – Software algorithms are about to take over recruiting. Most of the new recruit-tech innovations will involve the use of software algorithms to find, attract, maximize diversity, sort, match and assess candidates. Recruit-tech hardware in the neuroscience area will improve interview assessments and it can already show us how to improve the readability and attractiveness of posted materials. All these systems are data-driven, so they will not only be more accurate initially but continually improve as they learn from each and every error.
- Prescriptive solutions are provided – Currently when there is a major recruiting problem, recruiters, and hiring managers are forced to utilize intuition and guesswork to find the best solution. This often causes delays and potentially, the application of the wrong solution. The new model will require providing prescriptive solutions that tell managers what to do next with some reasonable degree of certainty that the selected solution will work.
- Forget history. Managers want crystal ball metrics – 100 percent of traditional recruiting metrics are historical but executives want to know about the future, not the past. Newly developed metrics in recruiting will be predictive, from the career trajectory of new-hires to the positions they will need to be filling.
- Numbers prove that diversity is a business imperative – For years, diversity was looked at as primarily a legal requirement. Data has shown that diversity in customer and product impact positions can have a dramatic impact on corporate revenues. Unfortunately, there are currently no corporate diversity recruiting efforts that are data or business impact driven.
Most years, predicting future trends in recruiting involves only about a 10 percent variation from the previous year’s predictions. However, as a result of the recent preponderance of data usage and the advent of recruit-tech, I don’t see that any aspect of recruiting is likely to remain unaltered during 2017.
When it comes to crafting the ideal CV, under-prepared candidates can feel like they’re staring into the abyss.
And whilst there is no magic trick or special secret to CV writing, as a recruiter, you can advise your applicants on how to begin. A recent survey by StandoutCV polled 150 employers in order to glean what they wanted out of a candidate’s CV.
And it seems that the general line is to keep it succinct. 92% of those asked claimed that they wanted someone who could take responsibility whilst 65% opted for a negotiator – City AM reports.
The publication went on to list 13 verbs that employers would love candidates to include on their CV. We’ve compiled it below:
- Managed – shows control
- Delivered – shows determination
- Improved – shows value
- Reduced – shows resourcefulness
- Planned – shows forethought
- Supported – shows reliance
- Influenced – shows a necessary mindset
- Trained - shows expertise
- Resolved – shows candidate can face and control issues
- Presented – shows candidate can speak publically
- Analysed – shows candidate understands data
- Developed – shows drive
- Negotiated – shows multi-layered skill set
And whilst a CV is an intrinsic part of launching any candidate’s prospective career, the give-and-take of the candidate-recruiter relationship is also important. Even though recruitment is an applicant-led process, as a recruiter you have certain standards to uphold too.
One great surprise for me is the number of companies who still are not yet fully using social media within their recruiting activities. It is such a powerful addition to different aspects of recruiting and yet it is so under-used. How you choose to use it for your specific need is a bigger conversation, but surely it has become a no-brainer to be using it for recruiting purposes, hasn’t it?
Social Talent recently carried out research amongst recruiters and they found social media to be very effective to good recruiters:
As a consultant, I talk to many companies – both recruitment agencies and corporates, large and small, and STILL there is a misconception of using social media in recruitment. It IS NOT just for sourcing talent (although it is superb for that) and IT IS NOT for just posting jobs on (can someone please tell many of the HR/Recruitment software vendors that please). IT IS so much more than that and should be woven into the fabric of organisations – everything from sales, marketing, employer branding, customer services, communication, on-boarding and engagement.
Over that last year, the talent challenges every company is experiencing has heightened the need to be better and more efficient at recruitment – in every area. It is therefore no coincidence that we are now seeing companies release budget for new or improved applicant tracking systems (ATS’s), new mobile responsive career sites, moving from ATS to candidate relationship management systems (CRM’s) and increasing their recruitment training in social sourcing etc. But for me there is still a huge blind spot for companies in the one area they need to focus on the most – their target candidate audiences. One huge blind spot is their own data (ATS/CRM candidate databases that conveniently get ignored by many recruiters), the other blind spot is social media (away from LinkedIn), and how more effectively it could be used in the recruitment process.
Let me explain what I mean.
To start with, too many recruiters don’t take the time to really understand the talent they are trying to recruit for their roles. They are not trying to build candidate personas, or understand where their target candidate audience could actually be present – and that means looking past LinkedIn and the job boards. There are now 100’s of places that industry people go to chat and engage with their peers – both online and offline, but how many times have your recruiters gone into that teams in your company and actually asked them where they go to network with similar minded people? I know the answer to that, and it is very few! But surely that is the most logical thing to do isn’t it?
Did you know that the average person is on 5.5 social networks?
We all have to focus on making a more personal approach to candidates – blasting them with endless generic messaging just doesn’t work – especially when reaching out to the so-called passive candidates or the ones with really sought after skills. One of my mantra’s is to take the time to find out where your target audience is online and go to them there, taking the time to build a profile and reputation in those communities/networks. We know (graph above) that people are on multiple social networks, so it is just a question of finding which ones. They will likely be active of two or three, and judging by the fact that 1 billion people now us Facebook daily (3/4 times that of LinkedIn), that is a great place to start. So if you are one of the recruiters that still thinks Facebook is just for your friends and family, think again!
Facebook Graph Search is a brilliant tool for recruiters and should be part of your social media recruiting toolbox. Fortunately Balazs Paroczay and Shane McCusker have worked their magic and created anawesome new tool (and there is now a Chrome browser extension as well )to make it really easy to use the ‘revised’ graph search on Facebook. It makes it really easy to now use Facebook to find people. The tool is so easy to use selecting the fields shown here:
Facebook is just one social network, there are loads more that you should be looking at including:
Each have their own audience and each have different ways of being used for recruiting – sourcing, employer brand building, community building etc
It is all well and good to be on the social networks, but communicating with people you want to engage with can be a challenge sometimes. Therefore an important skill is the art of reaching out and communicating with people. While this can be done via the specific networks, but sometimes they can just be a stepping stone, and you need to message them via some of the specific messaging apps we all have on our smartphones. We all know InMail open rates are low and emails can be a challenge to get read sometimes, so try different candidate communication methods. These messaging apps on out phones – whether it be WhatsApp, Messenger, iMessage etc are used every day by all of us. But how many of you are using the messaging platforms (such as the ones below) that your candidates are using every day with their friends? Did you know the average WhatsApp user send 1200 messages a month and receives 1400?
Remember many of these apps produce push notifications on smartphones making the messages more likely to be read by the receiver. Have you got any of this integrated into your ATS/CRM to make it easy to connect with them?
Social media is a wide area within recruitment, and to demonstrate this I shared a fantastic social recruiting case study recently, where a company empowered their staff to become real social media recruitment advocates for their business by sharing content across all the social networks their target audiences are on. They used social media as an employer branding tool to help them with their recruiting.
Social media is not new, but it is for many in HR and recruiting. Here are a few points to consider:
- Lack of understanding will kill your social recruiting from the start. >> Just doing social recruiting for doing it’s sake, or because you are told to (by a senior manager and above) is a car crash waiting to happen. Take the time to understand the social networks and how they could benefit your company.
- Go where your audience is. >> Take the time to figure out what your target audience looks like and where it is. That surely makes perfect sense, doesn’t it?
- Being generic is boring. >> Social media is all about interactions, engagement and communication. If you don’t personalise your content, you will fail to differentiate yourself from all the others doing the same (and there are plenty!).
- You get what you post. >> If you post crap, all you are only going to get in return is crap. You have to make sure the content you share appealing and above all relevant to the audience you want to reach. If it isn’t no-one will even bother reading it, and they certainly won’t then share it with their networks.
- Do something different and try it. >> You can waste more money and time on underperforming job boards, career events etc or you can adopt a different approach to finding and engaging talent.
- Give people a reason to respond. >> Why should someone respond to your Inmail, Tweet, or Message? What is their motivation to do it? Do you even think about that? It certainly isn’t just because you are a recruiter and you assume they will want to talk to you!
- Treating social media like a job board is doomed to failure from the start. >> There is a reason why social networks are called social networks and not job boards because that is what they are! There are many good job boards out there – you know, you use them! Don’t then confuse the two. Sharing jobs on social networks is good, but not every one – just be a little selective!
- Don’t wait, do it now. >> There is no logic in waiting for your technology vendor to add social media to it’s roadmap. Get started today – the quicker you start the better it will be. And don’t forget to put a strategy framework in place to get you started.
- If in doubt buy the book. >> I can honestly say I have written the book on this subject, so if you need a good ‘how to’ guide then buy a copy of this excellent book.
Social recruiting is no longer the new kid on the block, it isn’t a fad and it certainly isn’t going away. If used well social media can help transform your recruitment processes (please note I didn’t say ‘replace’ – I said ‘help transform’!)
Remember when we all were deciding if we should post our profiles on LinkedIn? Times have changed, and now you almost can't find a job without a LinkedIn profile. As times continue to change, hiring companies are now trying to learn how to use social media to find good talent. If we are looking for a new position, what more do we do?
The time has come for the market research industry to leverage a both technology platform and the personal touch of recruiters with experience in our industry. Technology, AI, and matching algorithms are not enough, we need a solution tailored for our industry. A standardized set of terms for our skills, expertise, and experience already defined will make it possible for both talent and hiring companies to speak the same language. This lexicon will enable the matching algorithms to be most effective. Effective matching will save everyone time.
Candidates need a place unique to our industry to post profile information, as well as resumes, photos, and video interviews, whether they are actively seeking a new opportunity or not.
Hiring companies are finding it difficult to identify great talent to add to their teams, and an industry exclusive platform will be attractive to them in terms of saving time and money and helping them find the right person for the job.
Such a platform will be beneficial to talent, to recruiters, and to hiring companies in market research. It can be the bridge that brings everyone together.
Check it out today: TrustedTalentMR.com
Bob Ferro, Managing Director, Trusted Talent
Candidates are not an online commodity
by Greg Savage on June 3, 2014.
Technology is changing our industry, on all fronts. And of course, we are seeing the arrival of a myriad of online recruiting offerings, each claiming to be the beginning of the end for traditional recruitment.
But, lets get real.
Oh yes, you can identify talent via digital. But actually recruiting someone you have ‘found’ is a whole different matter. It’s a romance. A seduction. And that is where the magic happens.
Technology will never replace recruitment. It will drastically change the talent identification and sourcing function, the screening and even the interviewing function. Technology changes the mode of service delivery for third party recruiters, that is for sure.
Securing the best candidate is not the same as buying a movie ticket on the Internet. And so, in recruitment, we are not like Amazon or iTunes or any of the sales channels you find online.
You can buy a dress online because a dress does not say, “no I don’t want to go with this new buyer”. But a candidate does.
Candidates have opinions and options and alternatives. Candidates can be unpredictable and emotional, and unlike a book you bought on Amazon, will not want to discuss with its’ wife whether it should go to the new buyer.
Recruitment is always a human endeavor, and it relies on uniquely human skills. Well, the type of recruitment professional, consultative recruiters want anyway.
In fact, I believe that candidate search technologies will become so sophisticated, so pervasive and so cheap, that everyone will have them. Tracking and finding candidates on the web will become easier, not harder.
It’s happening right now. Companies like TalentBin, Dice OpenWeb and Entelo, and others, have been building very clever sourcing engines, to meet the sourcing demand for hard to get skills. Far more sophisticated tools than anything the average agency recruiter has access to.
So we actually have what looks like a paradox, but in fact it is just where the process breaks into two very separate functions
Candidate identification will get easier and easier. Candidate recruiting and hiring will get harder and harder.
So building relationships and managing the process via highly developed skills in the craft of recruitment, becomes the differentiator.
The very best technology is critical to recruiting success. But I also believe that the craft of recruitment will make the difference. Craft? Yes. I am talking about the nuanced skills. Persuading, prepping, negotiating, finessing, listening, negotiating, understanding, and managing both the client and the candidate. This will still have a value. Increasingly so, in fact. As much as the technology. More so, eventually.
Lets take ‘counter-offers’ just as an example. I predict that as the economy improves, and the inevitable skill-shortages really bite, top talent will know their value. So will their employers, and so every offer you get will be subject to a counter offer. That is my prediction. Every offer. Or at least 9 out of 10. Most recruiters I know have no idea how to predict, prevent, and manage a counter-offer situation. It’s a subtle skill that only a great recruiter can finesse.
That is where, for the agency recruiter, the sweet spot lies. Where you can give your clients something your clients cannot get themselves. And do you for one moment think LinkedIn or Seek or Freelancer.com or any other technology platform will provide these subtle human skills, wrapped up in the craft of recruitment?
I think not.
By Sally Horwood
Last week I had the opportunity to attend an RCSA breakfast event and listen to Florian Dean, Head of Strategy at SEEK, discuss how the employment market is changing and what the implications were for recruitment.
The Skills Shortage
Historically, there has been a negative correlation between unemployment and advertisement volume – when job ads went down, unemployment tended to be higher. Recently, ad volume has been rising, and so has unemployment. This is due to an increase in specialised roles, pushed by faster and more pronounced development cycles. Mr Dean highlighted that in the emphasis to find the best and most specialised candidates, candidates must continue learning throughout their careers, or businesses focus on non-learnable attributes when hiring, in an understanding that they will train the candidate to be where they need them to be later. For recruitment, this means there will still be plenty of work for us, as finding these specialist candidates can sometimes be like finding a ‘needle in a haystack’.
Skill Set Disruption
Mr Dean outlined that the above skills shortage is in part due to advances in technology. As new technology is developed and implemented, whole skill sets will become redundant (i.e. when driverless cars become common, will there be a need for taxi drivers?). Some jobs will always need people – especially ones that need emotion e.g. therapists, or ones that are highly unstructured e.g. managers. But, computers will replace roles that are learnable and repetitive. As such, organisations are already starting to build up a contractor workforce, to avoid investing in permanent teams that will become redundant in five years’ time. We’re already seeing this in recruitment, with temp desks growing in leaps and bounds across most role types.
Increasing Public Profile Data
We’re coming to an age where individuals are happy to have multiple public profiles of them on the Internet. Often these are pre-constructed, but as technology develops, there is more depth to the profiles and reveal behaviours, habits, and traits of individuals that ‘big data’ is able to track and collect. Interestingly, public data is becoming a two way street. Candidates are expecting there to be publically available information on a business before they start working there, revealing more about the company than what their marketing collateral suggests. The SEEK company review page is an example of this, and highlights the need for businesses to truly instil the values they have, lest they receive a 2 star average rating by ex employees.
All in all, Mr Dean emphasised that employment market globally is changing, at an increasing rate. There is a need for individuals to constantly keep learning, to remain in the workforce and to stay in jobs that are one step ahead of computers. Organisations have a responsibility to provide this learning, because this has implications for the image they portray to potential employees. Despite many of the above changes occurring in the middle-to-long term, professional development and training is an important benefit to many candidates, over many other benefits, indicating that some change is occurring right now.
Hurrah for the new ‘Golden Era’ of Agency recruitment !
by Greg Savage on March 11, 2015
Hardly a week goes by without some ‘expert’ trumpeting the death of agency recruitment, or a technology start-up predicting the ‘disruption’ of our industry, and how recruiters are an endangered species.
Really? Who exactly? And, when exactly? Didn’t LinkedIn promise that, what, a decade ago? We are still here. Growing in fact.
Agency recruitment is not a dying industry.
In fact, despite what you read, our prospects have never been better! We must re-invent and evolve, for sure, but where we are going, if we get it right, is a far richer, more intellectually stimulating future than anything we have seen before.
To be clear,
The opportunity for companies to grow and make profits has never been better. The opportunity for individual recruiters to make money and forge fulfilling careers is back on the table.
But, not for everyone.
In fact most will not ride this new wave of prosperity and fun.
It’s an opportunity, not a right. The smart, and the quick to adapt will thrive. The rest, not so much.
But, why do I believe Agency recruiters have the world at their feet, if they make the right strategic and tactical decisions?
1: The frailties of in-house recruiters.
For years now we have been running scared because of the rise of in-house recruiters. And hardly a week goes by without some head of internal recruitment trumpeting how they have reduced agency spend. And that reduction is no doubt true, and felt by many of us.
But, increasingly the evidence is that all is not so rosy in the in-house world. Reducing agency spend is one thing. But what about key metrics like ‘quality of hire’. Line managers are reporting a drop in quality of candidate, and that is holding business back.
And what about ‘time to hire‘? The internal team saves an agency fee, but it took them six months to fill the job? What was the cost to the business, of that delay?
And then, what about your employer brand if your processes provide a horrific candidate experience, which many corporates do. What does that cost? In money, in future candidates, and in customers?
There is no doubt that we are seeing a shift back to clients realising that the time and infrastructure required to recruit high quality people, at short notice, does in fact need agency expertise.
So the effectiveness of in-house is being tested. And will come under the microscope even more as talent shortages start to effect corporate results.
So, I believe that one of the biggest barriers to Agency growth — in-house teams — will become less of a threat. But only if we are able to provide our clients something they cannot get themselves.
We have to do, what in-house cannot do. And that is mostly to do with accessing specialist talent.
2: Technology recruitment solutions are not so scary.
Technology recruitment solutions have been popping up almost weekly it seems, all claiming to be able to wipe out agency recruiters.
Many have come and gone already. Others, like LinkedIn, pose a much more credible threat.
But none of them, LinkedIn included, has come close to wiping out third-party recruiters. And bear in mind LinkedIn has been around 12 years. Longer than most of you reading this have been in recruitment! LinkedIn is not a start-up, deserving of time, to ‘get it right’. In fact, frankly, LinkedIn have as many issues to address about their business model as recruitment agencies do. More maybe.
And our industry has not suffered since LinkedIn came along. In fact our industry just grows and grows, (The global staffing industry is worth USD $440 Billion and growing at more than 5% a year. The US temp staffing numbers have just hit an all-time high, with 2.9 million temporary workers placed through agencies, every day. The Australian recruitment industry is worth USD 21 Billion.)
And many of the digital, technology driven recruitment disrupters, who started with a hiss and a roar, while no doubt carving a niche in some cases, are clearly no significant threat to our model.
Don’t get me wrong. I am not dismissing the impact of technology on our industry, and on Agency recruiters. I call these companies ‘Hi Tech/No Touch’ recruitment matching models, and they will take some business, mostly low level, but in my view they will do our broader industry zero real harm.
And there is one key reason
Identifying candidates is not the same as recruiting them. It’s the ability to bring talent to the hiring table, and manage the process that clients will pay us for.
And that leads me to the core reason why our industry is approaching it’s best ever era.
3) Massive, global, skills shortages
Sustained, epidemic shortages of skills and talent required to do the jobs, many newly created, that society needs.
Skills shortages are already upon us, and they will get far, far worse. And skills shortages are nirvana for us. If we become world champions at finding talent!
There are endless stats on this topic, but suffice to say more than 50 percent of global employers are currently reporting talent shortages. And crucially, they say the shortages significantly impact their ability to meet their client needs.
Each industry and sector already has a list of niche skills that are in short supply, and this will intensify over the years ahead.
And the impact is being felt right now.
Just last month SEEK in Australia reported a 10% rise in job ads year on year, in the very same week that unemployment in Australia hit 6.4%, a 13 year high!
Meanwhile ITCRA reports that the time it takes to fill IT contractor roles doubled in the last three months of 2014, as the search for quality contractors intensifies.
And this costs companies money. And this is only beginning.
Talent becomes the epicenter of competitive advantage
In fact talent is now the new currency of wealth creation. It is what makes companies win or lose in the market, and it’s what will make entrepreneurs rich. Or not.
It’s a differentiator. It’s non-negotiable. You must hire the skills. And that ladies and gentlemen… means Agency recruiters are back!
Skills shortages and the currency of talent alone means huge opportunities for third party recruiters.
4: Changing candidate job search behaviour.
On top of this, technology has changed the way candidates look for jobs. They have literally dozens of channels including job boards, company career sites, social media, and increasingly, search engine job searches.
So the best talent will know their worth. And they will also know how complex the job search has become, how time consuming. What an invasion of privacy it can be. And if Agencies are good enough to provide this option, they will come to us because we can act as their Agent
5: Old candidate tactics no longer working.
It’s now crystal clear that many of the standard talent sourcing channels, that most corporates use, are becoming increasingly ineffective.
Job Boards are still a major source of hire. Don’t get me wrong on that. But they only tap into a very active group of job seekers, and more importantly job seekers are getting sick of them, favouring new ways to connect with new jobs.
LinkedIn is waning in effectiveness in my view. In many ways LinkedIn has actually weakened the efficiency of the recruitment function. It’s now more difficult to connect with qualified talent, because LinkedIn has made data so available, the best candidates get swamped, and they get approached in such an untargeted way.
Technology can help you identify talent. But human beings recruit!
The recent decision by LinkedIn to limit Inmails is clearly in response to many of it’s members being inundated with recruiter spam. Many of the most qualified individuals are actually going out of their way to make themselves harder to find! There is now perceived to be an advantage in privacy.
And in my view 2015 marks the beginning of an era where we return to ‘the relationship’. ‘All-digital recruitment’ does not work.
6: Power is shifting to the candidate
The fact is power is shifting to the candidate, and if it hasn’t in your sector yet, it no doubt will do. And in a candidate driven market place, waiting for them to respond, simply does not work. It changes everything. Relationship building and candidate experience become key.
We think all of this is a problem for us Agencies. But it’s a massive problem for companies who want to hire direct. Their old strategies are not working too. So what are they going to do now? Well, they will look for outside help. And we need to be ready. Match fit. Primed to respond.
And that means one thing.
Recruitment companies have to become world champions at finding unique talent. We have to create candidates. We have to be skills hunters and talent magnets.
And that is going to take a change in mind set for many of us. We have to be innovative and sophisticated in developing a wide variety of tactics to drive candidates into our talent funnel.
And to do that, recruiters have to behave like marketers.
Posted on July 13, 2016 by Mike Johnson in Analytics
HR has made great strides in getting a “seat at the table”. Why? One reason is that CEOs consistently rank finding top talent as critical to the future of their businesses. They need a strong business partner “at the table” to drive the company recruiting agenda. But having a seat at the table means knowing your success numbers in the same way sales, marketing, and finance leaders do.
While more sophisticated talent acquisition departments may have hundreds of reports around recruiting – along with the business intelligence tools and analysts to support them – they tend to be the minority. So to help the rest of you get that coveted “seat at the table”, here are three key metrics that will link your recruiting work to the bottom line, and give CEOs a stronger reason to invest in your TA department.
1. Sourcing Metrics
A company’s recruiting budget is usually spent on headcount first followed by sourcing and marketing tools, channels, and programs. Sourcing and marketing is a decent chunk of anyone’s recruiting budget.
Because you’re spending a lot, you need to understand the effectiveness of each of the channels you’re using: your company career site, job boards, LinkedIn Recruiter seats, niche sites, referrals, alumni networks, etc. You need to understand how these channels work for what types of jobs and locations so you can optimize your budget accordingly.
Sadly, this can be a hassle for companies as they hustle to manually cobble together data from multiple systems each year. This is all just to see what worked and then plan accordingly for the next 12 months. Unfortunately, this is not agile enough to be effective. In other words, you’re wasting money – maybe a lot of money – by blindly investing your advertising dollars until you get to see how it worked at the next anniversary of your reporting cycle. Our data science team has this data across over 750 SmartRecruiters customers – and you’d be surprised by the results. Millions and millions of dollars are wasted every year on sourcing and advertising that was never going to perform well in the first place.
Alternatively, when you have a recruiting platform that is connected to all of your sourcing and marketing channels combined with hiring teams using a consistent, quantifiable scoring model on candidates (like a 5 star rating system), you can now measure both the volume of candidates entering the top of your funnel and the quality of those candidates. And by having access to that information in real time there’s no more wasted budget.
2. Pipeline Metrics
These metrics tell you how well your process is working: what’s the throughput in your hiring process? What are your conversion percentages from one stage to the next, and how long does each stage take? You’ll also want to see this data divided by department, division, location, hiring manager, recruiter, etc. For example, if you have a stage in your hiring process where you hand the candidate off to a hiring manager to review, it’s important to know if those candidates sit in that stage for too long. If so, it can unnecessarily slow down your process and make you less competitive in the market.
With this information, you can start to implement and measure an SLA across hiring teams. The trick, of course, is to make sure that all stakeholders in the hiring process – recruiters, interviewers, and hiring managers – have access to the ATS to provide their feedback. You’ll also want your ATS to be intuitive and simple to use. Why would you want a cumbersome interface to become a burden on the user (or on your training team)? Without that, you end up where many are today: with what I call “zero days to fill” syndrome – the actual hiring process happens outside your system, via excel and email, where it can’t be measured.
3. Hiring Plan Metrics
These metrics tell you how well you are doing against a forecasted, budgeted hiring plan. Are you meeting the hiring goals set forth by the business, and are you reaching those on time?
An overall time-to-fill number is interesting, but it doesn’t tell the whole story. The key is to properly forecast how long it will take to hire someone in the first place. Ultimately, harder to fill roles naturally take longer. You’ll need to understand when your company needs those people in place in order to meet the business objectives. This is what the CEO and CFO want to know because this is precisely where revenue intersects with recruiting execution. When positions go unfilled for longer than forecasted, teams tend to go out to staffing agencies where expensive placement fees are paid (and it’s hard to justify a TA function when most filled jobs come with hefty placement fees).
However, there is a real cost to the productivity of the business; take your revenue per employee per day (total revenue divided by the number of employees divided by 260 working days in a year) and then multiply that times the number of days past the due date for that new hire and you start to see the impact. Let’s use an example of a company with 1,000 new hires a year and $250,000 in annual revenue per employee. If that company only hits it’s hiring plan on time 50% of the time, and misses it on average by 5 days, the loss of productivity/revenue to the business is $2.4M. If that same company hits the hiring plan goals 75% of the time they pick up another $1.2M in productivity/revenue. That’s a lot of money!
This is also a great metric to help recruiting leaders show ROI for their initiatives and programs, as long as you can demonstrate how and what you need funded to move the needle.
There are endless metrics in any business, but oftentimes it helps to boil it down to just a few. Understanding WHERE we find the best people, how efficiently we PROCESS those people through our pipeline, and whether we are meeting the demands of the business by hiring the talent they need ON TIME tells us quite a bit about how well our talent acquisition function is performing. It also gives us a good idea of where we need to improve it going forward.
75 CVs per position land on a hiring manager’s desk, according to CareerBuilder.com.
As such, only the best get more attention than the average six seconds it takes for a recruiter to decide the fate of your résumé.
To help you transform a bean into a beanstalk, The Independent compiled 30 things that should be omitted to help craft the perfect CV.
1. An objective
2. Irrelevant work experience – "Past work experience that might not appear to be directly relevant to the job at hand might show another dimension, depth, ability, or skill that actually is relevant or applicable.
"Only include this experience if it really showcases additional skills that can translate to the position you're applying for," says career expert Alyssa Gelbard.
3. Personal stuff
4. Your hobbies
5. Blatant lies – “[Lies may be a] “misguided attempts to compensate for lacking 100 per cent of the qualifications specified in the job posting,” says Rosemary Haefner, CareerBuilder.com’s Chief HR Officer.
“Hiring managers are more forgiving than job seekers may think. About 42% of employers surveyed said they would consider a candidate who met only three out of five key qualifications for a specific role.”
6. Your age
7. Too much text – use lots of white space and no more than a 0.8 margin, says JT O’Donnell, Founder of Careerealism.com.
8. Time off - “In some countries, it is acceptable to include this information, especially travel,” says Gelbard, but she doesn’t recommend including this information.
9. References – Putting ‘references upon a request’ at the bottom of a CV is a waste of a line, says career coach Eli Amdur.
10. Inconsistent formatting
11. Personal pronouns - “Don't write your CV in the third or first person. It's understood that everything on your CV is about you and your experiences”, says executive career coach Tina Nicolai.
12. Present tense for a past job
13. A less-than-professional email address
14. Any unnecessary, obvious words
15. Headers, footers, tables, images or charts
16. Your current business-contact info - "This is not only dangerous; it's stupid. Do you really want employers calling you at work? How are you going to handle that? Oh, and by the way, your current employer can monitor your emails and phone calls. So if you're not in the mood to get fired or potentially charged with theft of services (really), then leave the business info off", says Amdur.
17. Your boss’ name – only name them if they’re noteworthy or impressive, says Gelbard.
18. Company-specific jargon - “Companies often have their own internal names for things like customised software, technologies, and processes that are only known within that organisation and not by those who work outside of it,” Gelbard says. “Be sure to exclude terms on your CV that are known only to one specific organisation.”
19. Social media URLs that are not related to the targeted position - “Candidates who tend to think their personal social media sites are valuable are putting themselves at risk of landing in the 'no' pile,” Nicolai says. “But you should list relevant URLs, such as your LinkedIn page or any others that are professional and directly related to the position you are trying to acquire.”
20. More than 15 years of experience
21. Salary information - “This document is intended to showcase your professional experience and skills. Salary comes later in the interview process”, says Amy Hoover, President of Talent Zoo.
22. Outdated fonts - “Don't use Times New Roman and Serif fonts, as they're outdated and old-fashioned,” Hoover says. “Use a standard, sans-serif font like Arial.”
23. Fancy fonts - “People try to make their CVs look classier with a fancy font, but studies show they are harder to read and the recruiter absorbs less about you,” says O’Donnell.
24. Annoying buzzwords
25. Reasons you left a company or position - “Listing why you left is irrelevant on your CV. It's not the time or place to bring up transitions from one company to the next”, says Nicolai.
26. Your grades
27. An explanation of why you want the job
28. A photo of yourself
29. Opinions, not facts - “Listing why you left is irrelevant on your CV. It's not the time or place to bring up transitions from one company to the next”, says O’Donnell.
30. Short-term employment
Published: Thu, 12 May 2016 10:30am BST