The New Approach to Recruiting
We’re at near-perfect unemployment and almost every qualified candidate is already employed. On top of that, the Millennial and Generation Z candidates in this limited talent pool expect companies to engage with them in new ways.
The unemployment rate has dropped to a 17-year low of 4.1 percent. This means almost every qualified candidate is already employed, and the hunt for skilled talent is only getting more challenging.
According to PwC’s latest CEO survey, 78 percent of CEOs say they’ve changed their people strategy to reflect the skills and employment structures they need for the future. They are “…taking steps to improve their access to talent and attract the people they need, whoever and wherever they may be.”
The 2019 workforce has a different expectation
If you’re looking to reach younger candidates, such as Millennials and Generation Z, it might be time to rethink your recruiting strategy; not only in the way they want to be communicated but also with clear branding that speaks to their values. If you make them click too many times, or your campaign isn’t mobile-friendly, goodbye potential candidates!
Forward-thinking talent acquisition executives and recruiting pros need to think more strategically and outside the box to show why candidates should apply for them and not their competitors. This means improving the quality, speed, and effectiveness of engagement across a broader candidate journey.
As the competition to find and hire top talent becomes more competitive, it’s important to expand the recruiting cycle – from recruitment marketing to hiring to new hire engagement. It’s not like in the past where all you need to do is “post-and-pray.” Now, you must win them over until they show up on the first day of the job. To do so means taking on a new approach: a shift in focus from managing requisitions to creating remarkable candidate journeys. This is where social media recruiting and continuous candidate engagement comes into play.
It’s more than a first impression
Engagement opportunities should be continuous. As previously said, it starts the moment a candidate is aware of your employer brand (“first look”) to employee engagement once they are on board (“first day”).
Continuous Candidate Engagement (CCE) is a candidate-centric recruiting model that encompasses both technology solutions and strategies to engage candidates at the right time, in the right way, at every single stage of the expanded candidate journey.
Nowadays, where social media is taking over, anyone can be found by anyone. As of April 2017, LinkedIn passed the 500 million user mark, and Facebook was over a whopping two billion. Thank you, social media for making it easier – and harder – than ever for recruiters to find talent and for talent to find companies.
Candidates are rejecting you before you even know it
It’s a new generation of recruiting with a new set of rules. Candidates aren’t afraid to reject a company that isn’t staying on top of innovation. Millennials, Generation Z, and the generations that follow who are seeking a job want their information within seconds.
If candidates are turned off by reviews or can’t find what they’re looking for, they’ll move on, rejecting you before you even know they’re looking. It’s the sad truth. It’s even true when it comes to your current employees – staying at a company for less than three years is the new norm. Take advantage of those job-hoppers who are bored after a few years in their current role and offer them a new, exciting opportunity they can’t deny.
The candidate experience can make or break a decision
Misspelled names in emails. An unpleasant interview process. No post-interview follow up. The list goes on and on. Providing a poor candidate experience can make all the difference, and today’s talent war leaves no room for mistakes – big or small. If there’s one takeaway, it’s that companies must put the candidate at the center of the recruitment journey.
- 60% abandon complex online applications
- 72% share bad experiences via social media and personal networks
- 85% won’t consider your company again after a bad experience
Virgin Media, a telephone service company, was one company that learned this lesson the hard way. In 2014, Virgin Media lost $5.5M solely to poor candidate experience. More than 130,000 candidates applied for a job at Virgin Media that year, 18 percent of whom were existing Virgin Media customers. But because of poor candidate experience, 7,500+ canceled their subscriptions and switched to a competitor. All of this could’ve been avoided if they put a little more effort into their candidate experience.
Companies that don’t adapt will be left behind
The shift is on. The model of the past, which was built on administrative efficiency, recruiter-centered processes and transactional relationships, no longer applies. To access, attract and retain the best talent, you must put the candidate at the center of the journey. To improve the recruiting process, you need to understand the meaning of each and where you can – and can’t – make an impact.
Candidate engagement is a series of interactions you have with a candidate and determining what that engagement looks like. ‘Engagement’ starts with you and is within your control.
Candidate experience is how a candidate feels about those interactions and the impression they have about your brand. Unlike candidate engagement, the ‘experience’ is not in your control. In other words, you can’t deliver a candidate experience anymore at this point. You can only deliver continuous engagement that influences the candidate’s impression of your company.