There's no denying that hiring may be difficult. In this robust economy, finding someone who checks all the boxes is much harder. Employers are fighting for top talent, and you need every advantage you can get. Therefore, we've produced a list of the top recruiting statistics to assist you in developing a successful hiring plan.
If you don't employ good people immediately, someone else will gladly take them away from you. Therefore, it is essential to not put off recruiting or overthink hiring decisions. The best talent is generally simple to spot; move quickly if you notice it. Remember that a company is only as good as its workers. Hire the greatest individuals you can find, and your company will achieve incredible results!
If you want to discover top talent, find a recruiting situation that is just right. The hiring procedure should not be so extensive and difficult that it becomes intimidating to the prospect, but neither should it be a bit too easy as it becomes less exclusive and attractive.
If you're looking to acquire young talent soon, you will be relieved to learn that in 2020, 66% of millennials wanted to change their jobs within a two-year time span.
On the flip side, if your firm presently accommodates a large number of young people, the prospect of more than half of them departing may be a cause of concern.
Interestingly, as an HR representative, you have a lot of influence on whether or not these figures remain valid in your own company. You have the capacity to impact working conditions and foster an environment wherein workers won't want to leave.
To attract excellent applicants, emphasize career growth possibilities in your employee value offer and once they've joined your team, make sure to acknowledge their efforts! Employee involvement and high-quality wellness initiatives are also highly valued by youthful employees.
While it is critical to hire excellent prospects as soon as possible, it is not the only aspect to consider while obtaining their services. If you make a low-ball offer right away, expect them not to make it to your court.
The majority of employees value competitive remuneration plans above everything else, and your firm should be able to provide that as the money invested in attracting and maintaining the finest personnel will pay off in the long term.
Table tennis and beer taps in the office will almost certainly not help you recruit excellent prospects. Provide significant employee perks and work arrangements that are flexible. A well-designed salary and benefits package may not only attract top talent to your organization but also persuade your high performers to continue for the long term.
The way your company conveys its presence as a business is referred to as employer branding. This might involve displaying your company's goals, beliefs, and culture to existing and future workers.
Furthermore, when it comes to cold emails, only if the email is exceptionally well-written or comes from a well-known firm will it actually be well-received. If you received a cold email from Google, for instance, you'd be inclined to interact with it. Thus, proving why it is critical to building your employer brand, regardless if this is done through social networking sites or word of mouth.
Employer brand is really important as employee turnover is costly. It is critical to do everything possible to limit it. From hiring to onboarding, the entire process must be smooth. This is so that people are enthusiastic about working for your firm straight away.
If you plan on sending cold emails, customize each email, and don't be scared to inject some personality. Automated communications are less engaging than speaking with real humans. You may also write a personal Linkedin message, which humanizes the approach even further by allowing them to see your profile and give a picture to the name.
The way you advertise your job is also crucial to how you attract incoming talent into your firm. If you don't list your jobs a certain way, you may be losing out on some great candidates.
If you want your job advertisements to stand out, you must set them apart from those of your rivals. Include a wage and make it visually appealing.
It matters to have a good hiring experience. At every stage of the process, it's critical to make applicants feel comfortable and appreciated. When this happens, the individual will already hold your firm in high esteem, motivating them to go above and beyond to help you succeed.
Furthermore, you'll lose them if it takes too long. This is a significant opportunity lost, and you risk losing excellent applicants as a result of your inefficient approach. A good example is Google. They discovered that after putting in the effort to improve the hiring process, the interview procedure had all these phases, so they reduced it to four. Thus, now getting applicants much more quickly.
You may lose not just outstanding applicants but also clients and money if you have a terrible candidate experience.
Don't go overboard with the procedure. Nothing will ever be perfect, and you won't know if it's a good fit until you test things out. While companies recognize the significance of taking the time to get to know someone and requiring all possible applicants to go through many phases in the interview process before making a selection, there is the drawback that elite talent goes rapidly off the market. Frequently, businesses will overcomplicate the process and make it take longer than it should.
You should be timely, just as you want applicants to be on time. Show up or call exactly as planned. Also, avoid scheduling any part of the interview over the weekend, even if it's a phone interview. You want to demonstrate that the company is committed to having a work-life balance.
Recruiting and marketing are intertwined. To attract excellent people, you don't have to be a worldwide brand like Apple. To attract excellent people, you don't have to be a worldwide brand like Apple, Google, or Amazon. However, you must appear to be accomplished and effective. Potential workers will see your firm as such if it has a strong brand.
Any firm that wants to succeed in discovering and enticing world-class talent will need to have a social media recruitment strategy. Send relevant material (blog articles, corporate announcements, etc.) to those who are interested. HR may collaborate with marketing departments to improve the process.
A passive job seeker is someone who is presently working and is interested in learning about new employment prospects but is not prepared to submit their resume for a different role.
This implies you're missing out on a large percentage of the talent pool if the only candidates you're looking into for available positions are active job searchers.
As an HR, you must be engaged and spend time in places where eligible people congregate, such as industry forums. You may also communicate with potential workers directly on platforms like LinkedIn.
Passive candidates should not be ignored. Many businesses make the error of overlooking passive applicants. You're passing on a huge pool of talent who could be ready to collaborate with you if the deal was appropriate. All candidates, regardless if they are active or passive, must be seen as potential leads or prospects.
Hiring is not a one-time event. Creating and maintaining your employer brand is a continuous activity that involves many individuals from several departments.
Your HR department should make filling open positions a high priority. When job openings go unfilled, money is lost, team productivity suffers as employees attempt to complete duties for which they are not qualified, and corporate morale suffers.
Invest in a good hiring program and look after your present staff. Building and maintaining a great team requires certain best practices.
Consider the income lost as a result of missed opportunities, people being asked to accomplish more with less, resulting in mistakes made by employees who are given too much to manage, and so on.
But don't be too eager to hire just about anyone as it costs a lot of money to have a bad hire too. Make the most of your money. Although your applicant may have relevant expertise and appear to be a good fit on paper, their beliefs and personality should align with the company's culture too.
Employee referral systems are crucial because they make it easier for firms to find excellent personnel. No one knows better than your present staff what it takes to thrive at your firm.
That is, after all, what they do every day.
You can save hiring time and expenses, increase employee retention, and boost team morale by considering employee referrals seriously.
You're missing out on a big opportunity if your employee referral program doesn't result in at least 30% of new recruits.
Consider having an employee referral program that incentivizes current employees to refer potential candidates who could be a great fit for the company.
There are several software alternatives on the market, such as recruitment marketing software, to guarantee that your firm attracts top personnel. Keep the figures in mind if your firm isn't employing software in its recruitment procedure.
Recruitment software is the future, and it is highly important to invest in it now to save a lot of time and money presently and in the future.
Recruiting talent is no longer the same as it was a decade earlier. Candidates have varying needs, and there is fierce competition for their services. In today's recruitment process, technology plays a greater role than ever before. This is all visible through current recruitment statistics.
It may be challenging for an HR professional to develop a recruiting strategy that incorporates an eye-catching corporate image, a strong business culture, a quick hiring process, and other factors. You may be certain that the people you choose are the best for your company's needs if you use these facts to show how your company searches for potential workers.
If you're searching for tools to help you discover, hire, and manage staff, Lanteria provides a number of award-winning features; we can help you operate your HR department successfully, from onboarding to employee engagement.
