A couple of things can be more disappointing to an HR professional that recruiting and onboarding the “perfect hire” only come to realize that the applicant was not a good fit after all. Exasperation apart, recruiting the wrong applicant is expensive for the companies. In reality, as stated by a recent survey, 66% of businesses estimate that every wrong hire comes at a price of at least $25,000 in lost time, efficiency, and company resources.
Fortunately, advanced staffing and recruiting best practices are becoming more proficient and recognizing the right applicants and eliminating the wrong ones. Here, have a look at the top trends to help you in recruiting top and skilled professionals who can add value rather than causing unnecessary cost.
- Recruitment Marketing
Recruitment marketing is fundamentally a strategy that depends on the implementation of marketing plans into recruiting – i.e. attracting the talent to your company utilizing conventional marketing techniques. Due to the existing nature of the job market, the power remains more in the hands of the candidate, therefore, recruiters are expected to go for marketing practices to sell their company to these talented individuals, much similar to selling a product or a service.
- Quality Candidate Experience
Candidate experience is mainly the general perception of a candidate – past, present, and prospective future – of your organization’s recruitment process. The overall anticipation is that the recruitment process must be fast, productive, easy, and mobile-friendly. A candidate is more likely to accept the job offer if he goes through a positive experience during the entire recruiting process.
On the other hand, if that candidate goes through a negative recruiting experience, there is a strong possibility that you may lose more than just a good candidate – you may lose your money. According to the calculations of Virgin Media, a British cable and mobile service provider, negative candidate experience costs them $5.4 million every year.
- Employer Branding
Employer branding signifies a company’s repute and fame as an employer, as well as its employee value proposition (a different thing completely from an organization’s brand repute and value proposition to the customers). In essence: how much of positive experience is provided to the employees working at your organization? Do the rewards and benefits make up for the performance? What can you offer them that’s different from any other workplace?
LinkedIn research has disclosed that 75% of the jobseekers carry out their own research on employer brand and popularity before even applying. This indicates if you have a bad repute, your organization will likely come to blows. Whether it is to attract candidates particularly top talent or retaining the current employees. Refining your employer branding is a must in 2019.
- AI/Automation Tools
Most of the time recruiting includes monotonous tasks. Several recruiters go through the challenges like handling numerous job requisitions (without any addition in the staff). Besides this, the candidate-driven market, and striving to involve the jobseekers fast before they lose interest. A few of the more low-level tasks can be handled by AI (artificial intelligence) or automation tools.
Despite the fact AI is becoming more accepted, automation tools are not unknown – they have begun to move beyond HRIS, applicant tracking system and recruiting software. A majority of the automation tools are going toward 2-in-1 ATS + recruiting solutions to combine things into one platform.
- Video and VR (Virtual Reality) for Interviewing
LinkedIn’s Global Recruiting Trends report states that 52% of the respondent admitted that innovations hold significant importance for the future of hiring. Utilizing video and VR (virtual reality) are two important innovations that are getting popular. Organizations who utilized either video or VR platforms for the interviewing procedures discovered that they were able to better evaluate skills, engage candidates more, increase productivity and refine talent pool diversity, and they came across less unconscious bias.
- Social Recruiting
It is quite simple to define it, the use of social media channels for recruitment is social recruiting. Yet, instead of only posting the open positions on your organization’s social network accounts, it signifies utilizing social media to proactively look for, develop relations with and inspire prospective candidates to apply. If you do this the right way, it is also going to help with your employer brand.
Undoubtedly, the HR and recruiting industry are going through continuous changes and evolvements. As you come across new and young candidates, these changes will become more distinctive. If you want to stay on the competitive edge, you need to remain on top of the latest trends that may affect the recruiting industry and also need to evolve with them throughout this year and in the future as well.