Lovepreet Dhaliwal November 29, 2021 The world is slowly crossing to the other side of the pandemic, and businesses are trying to prepare for new challenges, adapt their practices, and improve tactics.
As recruiting is the backbone of every organization, employers should start by re-evaluating and re-thinking hiring strategies. Every recruiter aims to hire top talents, the most qualified and compatible candidates. But the problem arises when the focus on volume suppresses the need for quality.
The unemployment rate remains at 6.7 percent in the U.S. since December, which means that there are roughly two people without work for each available position. The trend is also present in the United Kingdom, with more than 1300 percent increase in applications for some job roles. Yet, a Manpower research about talent pool optimization found that talent abundance isn’t necessarily a silver lining for recruiters.
Even though there’s an outbreak of job applicants, that doesn’t guarantee that the skills, qualifications, and experience a company needs are available. Moreover, perhaps the most compatible candidates are not even actively looking because they are already working elsewhere.
Coronavirus brought debilitating uncertainty, and most people desperately seek security and stable work. As a result, many will apply for a job position without reading the job description thoroughly or considering whether they are a good fit.
In times of crisis and limited resources, one can’t afford the luxury of making mistakes and relying on quantity. Recruiters should reconsider their strategies and navigate the talent outbreak landscape without endangering the quality of hire. Here’s how they can maintain the balance and ensure the best recruiting outcomes.
1. Recruiting Automation
It feels empowering to hire dozens or even hundreds of new employees because it gives a sense of reaching the ultimate recruiting goal. But the more workers one hires, the higher odds of selecting at least one incompatible candidate.
It is no surprise that 76 percent of hiring staff finds the process of attracting quality talents to be their biggest challenge. Hiring teams spend around 14 hours per week on manual tasks, such as sourcing, screening, and matching, which can be automated. Without automation, employers risk lower productivity, higher costs, and poor candidate experience. Thus, details that indicate candidate incompatibility might get lost in the process, which leads to a bad hire.
Recruiting automation allows recruiters to alleviate time-consuming tasks, improve the quality of hire, and focus on value-added activities. For instance, a resume parsing software targets and identifies the most compatible set of skills, qualifications, and experience. Thanks to those features, hiring teams can foster consistent recruiting decisions and ensure the best match.
2. Data-driven Recruiting
Data-driven recruiting will likely be one of recruiting highlights in 2022 because it quickly enables recruiters to identify talents that fulfill the requirements. As opposed to what many think, it’s not only about knowing how much time one needs for a new hire.
It is an invaluable approach based on technology, tangible facts, and statistics that exclude gut feelings, intuition, and bias. By measuring data such as cost per hire, talent pool analytics, quality, and performance, data-driven recruiting improves decision-making and helps detect the right candidate.
3. Referral Programs
Instead of focusing on what talent abundance has to offer, recruiters should pay attention to those marvelous talents they already have.
Nobody understands a company’s culture and values as its employees. That makes their opinion and contacts valuable and a potential shortcut to other top-notch workers. Investing in referral programs improves the quality of hire, and it also reduces costs and the turnover rate.
The technology could further humanize recruiting process
High-volume recruiting is not inherently wrong, and it’s not determined to result in bad hires. Yet, if recruiters focus solely on hiring a large number of candidates, they’re risking quality. In the long run, that can undermine every effort and disrupt the work of a whole team.
In the new realm where we have limited resources, opportunities, and freedom of movement, we’ll have to learn to work with what we have and nurture a quality mindset. The technology could prove to be one of the principal drives of quality and human-centric approaches in recruitment.
With its features that allow neutrality, thoroughness, and efficiency, recruiters can focus on each candidate and what makes them fit for a job role. By quickly weeding out incompatible job applicants and reducing repetitive tasks, technology allows hiring teams to make the recruiting process more human-centric.
It is how tech categories and tools, such as automation, data-driven recruiting, and resume parsing software, can emphasize quality and improve the hiring process in 2022.
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