Reference no: EM133136881
How to maintain a successful recruitment strategy when unemployment is low? (Article by Taylor McKinney)
National unemployment rates were at four per cent as of last month, more than half of what it was less than ten years ago. This is why employers are having such a time hiring these days. With so many open roles and not enough candidates to fill them, the competition is higher than ever. That's why it's important to develop the environment and opportunity that will set you apart from the pack -here's how.
A cultivated culture.
Providing a competitive salary, challenging workplace and health benefits is great, but it's not going to make a prospective leave their current roles for what they already have at their current place of employment. What makes your company stand out? What would make it worth it for prospective employees to leave their current jobs for a spot at your organization? It's all about company culture -especially for millennials, who would give up more than $7,000in salary per year for a better work environment.
An example of company culture
is the employer who supports causes their employees are passionate about (as donors or through company volunteering events). Another example is the employer who offers a better work-life balance, which includes options such as working from home, flexible hours, etc. Many of these organizations also host regular social events and team-building outings to integrate teams and foster a social atmosphere.
Recruitment software
If you're not using applicant tracking software (ATS), you're losing time in the recruitment process and missing a bevy of qualified candidates. That's because ATS streamlines the recruitment process by combing through thousands of applicants to find the perfect match for you. It also integrates with social media, which helps you cast a wider net. This means that you won't miss the most prime pool of candidates -millennials -who are more likely to use this technology for job searching and would miss a company who relied on more antiquated methods.
If you already use Indeed for your recruiting tool, you might not know that it offers a built-in applicant tracking system that allows employers to not only track current applicants, but also to sort by previous applicants. An email update to those previous candidates who are interested in your company, but might not be actively looking, could prove successful.
Make sure you're mobile friendly
Just like the example above, tech plays a big part in the recruitment process -especially in who and how many you reach. A whopping 78 per cent of millennials and 73 per cent of Gen X-ers used a mobile device as their primary job-searching device in 2016, and these percentages are sure to grow with each passing year. The moral of this story is if you don't optimize your listings -and your website -for mobile, you'll be missing out on a huge chunk of prospects.
Recruit internally
When unemployment is low, recruiting from within is one of the best things you can do, both for finding more applicants and increasing employee loyalty. Hiring an existing employee cuts back on time spent training. Plus, employees who switch roles or departments will be able to add even further dimension to a role thanks to their seasoned knowledge and experience specific to your company that an outside candidate wouldn't have.
Offer career-growth opportunities
Today's candidates are used to competitive salaries and benefits, and even company cultures are becoming the norm as a must-have. To take ita step even further, offer opportunities for growth so that you'll be seen as a place where one can develop and be loyal to, whether it's formal training, inexpensive or even free online classes, or room for cross-collaboration and title changes.
Get savvy with your strategy
Your applicants prepare themselves in order to make them stand out in a crowd for your company -why shouldn't you do the same? Videos are a great tool to give potentials a view into life at your company -if done right. Avoid the stuffy PR marketing variety videos and shoot real footage of people at work, snacking in the kitchen, talking by the water cooler or sharing a beer at happy hour.
Other ideas outside of the standard job posting route are to recruit via social media. You can use Facebook targeting to advertise to people who match a selected region, skill set and even hobbies.
Create reputation of positive interviews
Job interviews are stressful enough as it is, but when a candidate doesn't know what to expect, it's easy to get cold feet and ditch the opportunity. Worse, if you have a history of less-than-stellar interviews in your past, you can be sure word has gotten around in your industry. And who would want to sign on for a relationship with a company who gives a first bad impression?
One of the easiest ways you can improve your interview style is to give potentials an idea of what they can expect. Is your strategy a one-on-one? Panel or round-robin style interview? Informal Google hangout? Whatever works best for you, make sure you share as much detail as possible with your candidates so that they can feel prepared and therefore confident and relaxed.
Read the attached HRPA Article - "How To Maintain A Successful Recruitment Strategy When Unemployment Is Low" and answer the following:
- What are the key messages? What did you learn from this article that you didn't know?
- What do employers need to consider as they develop a recruitment strategy in a scarce labour market?