Outdated HR technology and recruiting strategies could be preventing your company from finding the perfect fit.
With millennials on track to become the largest demographic in the workforce, one thing is certain: the talent game is completely different than it was 10 or even five years ago. Young professionals are significantly less likely to stay with one company for their whole career, they value different things than their older peers (in particular, workplace flexibility and mobility), and they care less about climbing the corporate ladder than they do finding a good fit.
Unfortunately, as Jared Lindzon observes, “the [recruiting] industry has thus far been slow to react to these changes.” A recent study by Deloitte found that only 36% of respondents would give their employer’s HR department a rating of “good” or “excellent.” In addition, “only 22% believe that HR is adapting to the changing needs of their workforce; and only 20% feel that HR can adequately plan for the company’s future talent needs.”
As these stats demonstrate, the HR industry has undoubtedly fallen behind when it comes to meeting both candidate and employee expectations. Reliance on outdated technology has kept many HR departments focussed on transaction rather than interaction. Thankfully, there are a number of tools and strategies that HR teams can incorporate into their recruitment campaigns to attract top talent, especially when it comes to engaging school-leavers and younger jobseekers.
Promote Your Employer Brand
We’ve touched on the importance of employer branding many times, and for good reason: cultivating a strong, consistent and authentic employer brand increases the likelihood of recruiting (and retaining) top talent. Employer branding can take a variety of forms: from featured employee videos on your website’s home page, to engaging and original content on your social media channels.
However you choose to promote your organisation’s ethos, the goal is to communicate a consistent message and connect with potential employees as effectively as possible. After all, qualified candidates are more likely to apply for a position within your organisation when they can relate to your corporate mission and the stories of current employees, which give a human face to your company.
Streamline the Hiring Process
Not only does a prolonged hiring and onboarding process cost your organisation time and money; it also increases the likelihood that a “good fit” candidate who has interviewed with you will receive – and accept – an offer from another company. Luckily, recruiting technology has kept pace with the times, streamlining HR processes so that promising candidates can be selected and on-boarded with greater efficiency.
Specifically, video assessment software – coupled with advanced data analytics and machine learning technologies – have become a centrepiece of talent management, helping to personalise the recruitment process and improve hiring outcomes overall.
Don’t Forget About Retention
As Joyce Russell writes, “when you speed up the hiring and onboarding process, the time saved allows HR departments to pay attention to the initiatives and activities that will help you retain employees.” Though it’s true that Millennial employees display a tendency to job-hop, it’s not necessarily because they want to leave an employer in a bind or chase a higher-paying gig. In all likelihood, it’s because they’re seeking a better cultural fit. Doing everything you can to ensure that your employees remain satisfied and engaged in their work is essential to improving your organisation’s retention of top talent.
At the end of the day, your company is only as good as its employees – so make sure you’re doing everything in your power to attract and retain the very best.