The Race for Talent
Every company wants to build a great team that is loyal, productive and consistent on delivery for return on investment. But unlike in years gone past, employers no longer have the advantage when it comes to recruiting the best talent. Unfortunately many companies miss out on key hires for their business.
We take a look at how employers are recognising the importance of implementing a more fast-paced and attractive recruitment approach to win the competition for skills, and what you should do to avoid being left behind!
Competition for talent dictates recruitment pace
According to a recent survey by totaljobs – as part of its Understanding Talent Series, nearly 50 percent of employers are realising the need to reduce the length of their hiring processes in order to beat the competition for desired talent. However, many employers are still falling behind in implementing technologically efficient and innovative recruitment practices.
In what is a significant reflection on the state of the UK job market, the survey of over 3,000 job-seekers and 100 employers found that 46 percent of employers said they have reduced the length of time it takes to recruit a candidate. Out of these, 59 percent of employers reported that they limit the space between the role being advertised to the first round of interviews to less than two weeks, with 92 percent making an offer in a week or less after the interview process.
In addition, 28 percent of employers have reduced the duration of the recruitment process as the time it was taking to hire was putting candidates off, preventing them from securing the best talent for their business.
Technology contributed considerably towards speeding up the recruitment process, and 10 percent of employers now conduct interviews over Skype, with 25 percent of employers using psychometric testing – a quick way of determining the cultural fit of candidates for the role and the company.
However, 70 percent of job-seekers used their smartphone to hunt for a job, while only 47 percent of employers say their company websites and application processes are optimised for mobile.
This difference in how jobseekers expect to job hunt, compared with how employers recruit extends beyond the use of mobile. While 84 percent of employers said they use their company website to advertise an available role, only 15 percent of job-seekers reported that they seek out a job through a corporate website. What is widely perceived as an effective recruitment strategy, with 53 percent of recruiters saying that they use professional networking sites to try and hire, only 24 percent of candidates use this platform to seek jobs.
How to win the race for talent
When you take skill shortages and how candidates now require more than just a high salary for services rendered, it’s easy to see that employers have to work extra hard to attract talent in innovative and efficient ways. Here are 4 top tips to speed up the process of recruiting the best fit for your organisation:
- Attraction comes from the inside out: Before you hire, you need to evaluate how your company operates internally. What is the culture? Do your policies encourage a healthy work to life balance? Do you have incentives that fuel productivity and subsequent delivery? Are your employees engaged, inspired and self motivated to grow on a professional level? If you answered ‘yes’ to all of the above, then what are you waiting for? Let your employees stand as testament to why candidates should choose to work within your organisation! Happy employees will be more likely to talk enthusiastically about their jobs and workplace culture. When the word spreads within their circle of family, friends and even acquaintances, chances are that someone in their network could perfectly fit the criteria for the role that you are trying to fill.
- Take advantage of social media: One of the most powerful – yet often underestimated talent attraction tools at your disposal is social media. Not only is it a cost-effective outlet to showcase your organisation, it also enables employers to target a wider talent pool at a much quicker rate. For those who use it for talent, many make the mistake of restricting their engagement to boring old job adverts, and in a highly competitive bid to attract the best talent, where candidates demand more than just a steady income, employers have to work harder to showcase their working environments appeal to their target candidates. Make noise on social media about what is happening within your organisation – whether it be photos of the best-performing department’s ski trip, a Linkedin published post from an employee who participated in a corporate responsibility initiative or video testimonials showcasing the perks of working within your organisation.
- Market your compensation package (beyond salary): Money is important, but it's not the be all and end all. They want a work environment that challenges them, allows for innovation, makes work fun but also provides work-life balance. This could mean paid time off, the ability to work from home if necessary, time to volunteer in their communities or the ability to take unpaid leave to pursue interests. When putting together a recruitment campaign, it’s important to emphasise how much you value the happiness and well-being of your employees, as this will inspire the best people to join your team.
- Optimise for mobile: We live in a fast-paced world with a high demand for instant gratification. Bright, highly skilled, determined and ambitious job-seekers simply do not have the time to dilly and dally on their laptops for hours at a time only to receive an automated email response to a lengthy job application that has repeatedly squeezed out similar (if not identical) information regarding the candidate’s skills and achievements . The reality is that job-hunting happens in real time, and simultaneously with other routine activities – such as commuting, grabbing a coffee or in the waiting room at the doctor’s office. The pull to your organisation isn’t visible or accessible during those times, not only will you go unnoticed, but also portray the message that you really don’t value the candidate’s need for efficiency and convenience to align with their busy lives. So get mobile, and get in touch with those candidates.
We want you on our team!
Are you an experienced recruiter looking for your next role within the industry? Search Consultancy is a nationwide recruitment agency that offers a wide range of jobs from a variety of specialist industry sectors. If you feel you would be an ideal addition to our team, please do not hesitate to contact our internal recruitment manager, Peter Barry by email on [email protected] Take a look at the recruitment consultant jobs that we have on offer here.