The need for effective recruitment has never been more pressing. In today’s market, recruiters must navigate greater competition for talent, the influx of millennials into the workforce, constant pressure to keep costs down, and much, much more.
What do these challenges look like and how can you as a recruitment professional address them?
1. The Candidate-Driven Market
With the global economy having successfully emerged from the 2008 financial crisis we’ve shifted from an employer to a candidate-driven job market. The fact of the matter is that in many industries demand for talent far outstrips supply. With so many organizations competing in the same talent pool it can be difficult for recruiters to find, much less connect with candidates. The recruiters most at risk of going unheard are those whose sourcing strategies are built on out-of-date hiring practices like post and pray recruiting, an over reliance on InMails, and a general failure to take sourcing seriously. These methods are not just ineffective, they may also deter quality candidates who would otherwise be interested.
How to overcome this challenge: Start thinking like a marketer. Instead of selling a product, you are selling a job (maybe even a career). Doing this effectively will require you to do things like make your brand visible on social media along with writing smarter job descriptions. Beyond that, you’ll need to understand that in order to find the best candidates you’ll have to source them and communicate effectively once you’ve done so. A recruiter who doesn’t source might as well stop recruiting in today’s market.
2. Attracting Millennial Talent
By 2020, 40% of the working population will be millennials. Since this generation—born between 1980 and 2000—entered the workforce, they have transformed the employment landscape. With a more flexible approach to work, a strong sense of individualism, and the willingness to sacrifice stability and money for opportunity and adventure millennials are vastly different from their peers. Recruiters are going to have to find a way to more effectively pitch to these ideals while also keeping expectations realistic. A failure to do so will reduce in a lower number of quality hires and a greater turnover ratio.
How to overcome this challenge: When the vacancy is in the early stages of being created take the time to work with hiring managers to adjust the role to make sure it appeals to your millennial target demographic. For instance, the job might have to be restructured to allow for more freedom and flexibility. In turn you as the recruiter will be able to comfortably sell the job and keep expectations in the right place. In other instances you may simply have to adjust how the job is described. This could require you to emphasize opportunities over salary, discuss the impact the job will have on the community as a whole, etc.
3. Containing Recruitment Costs
Recruiters often face the precarious situation of having to find great candidates in a cruelly short timetable while also operating under budgets that are far too small. With financial resources being as restricted as they are, recruiters have to find ways to maximize their resources while keeping costs down. One of the biggest contributors to high recruitment costs is time. Vacancies stay open for too long, and then more and more money has to be spent on services and tools that can help you fill them.
How to overcome this challenge: Talent pipelining can be an effective way to keep costs down. Rather than scramble to fill jobs as they open, work to create vacancy forecasts and build talent pipelines that will give you a list of screened, prepared candidates in advance. This does require planning and time you may not feel you have, but by doing so you’ll save time and money in the long run.
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One of the best parts of recruiting is the dynamic nature of the industry. Things are always changing and new challenges are continuously emerging. The way you recruit today could be vastly different from tomorrow – which is why so many of us love what we do. By taking the time to assess the changes taking place we can determine how we want to tackle them and ensure we’re able to remain successful. Whether we are dealing with market trends, generational differences, cost containment, or anything else we can rest assured that solutions are there if we look for them.