Five New Trends About Recruitment You Should Be Aware Of
Recruitment plays a crucial role in today’s competitive marketplace. With the need for new employees increasing, keeping up with the latest recruitment trends is critical for your future work planning and recruitment efforts. The importance of a successful recruitment and retention strategy cannot be understated as what you see also on https://www.tenstreet.com/recruiting. Here are five new trends in recruitment that you should be aware of:
Data-driven recruiting
With the emergence of data-driven recruiting, hiring teams can use data to reduce overhead costs and improve the overall hiring process. However, most employers do not use data to its fullest potential. Here are a few ways data-driven recruiting can improve your technique. Using social media as a recruiting tool has several benefits. People find job postings from their networks to be more trustworthy, increasing the likelihood of applications.
Using data to improve the hiring process will help you identify top candidates and eliminate unqualified applicants. The more data you have, the better you can recruit. Recruiting is an ongoing process, so data-driven recruiting will help you make the best decisions in the long run. Data-driven recruiting tactics should be integrated into your hiring process to improve the pre-hire experience. Often, simple adjustments can improve the hiring process and ensure that the most qualified candidates are hired.
Flexible work schedules
Offering flexible work schedules to employees is an increasingly popular way of attracting top talent. Many millennials and others who value their time off value having the opportunity to choose their hours. In addition to helping them maintain a work-life balance, these flexible schedules can also improve productivity by reducing stress and enabling employees to achieve their goals more quickly. While this flexibility may not be for everyone, it has a few benefits that can make it an attractive option for both sides of the equation.
As the work culture becomes more data-driven, flexible work schedules can help companies retain top talent. In addition to making employees more satisfied and productive, flexible work schedules improve a company’s bottom line. According to research, 4.3 million Americans currently work from home at least part of the time. The number is expected to rise with the pandemic. If your company does not embrace flexible work schedules, it may be forced to cut its hiring budgets.
Employee referrals
According to a study by iCIMS, Inc., hiring employees through referrals is faster and cheaper than other sourcing methods, including career sites and job boards. More than half of referred employees have been in their current job for at least five years. This increased retention rate makes employee referrals an excellent way to attract competent professionals to your company. Listed below are five benefits of using employee referrals in recruitment.
Recruiters often rely on employee referrals as a primary source of talent. However, companies can tap into their talent network, which is at least ten times larger than the pool of recruiters. According to the study, 88% of employers and employees rate employee referrals as their top source for hiring qualified employees. Referrals are an excellent choice for companies looking to hire a new employee, as they guarantee the candidate’s job security and a higher ROI than those obtained through job boards. Recruiters also benefit from this method, as they find that referrals are more likely to be accepted than those found through job boards.
Predictive analytics
When used in recruiting, predictive analytics can help identify the best candidates and screen out bad hires. It also speeds up the hiring process by allowing employers to compare candidates objectively. While there are still no foolproof ways to use predictive analytics, large data sets greatly help improve hiring rates. Recruiting in a tight job market can be a frustrating experience. Many people end up losing out on a job they would otherwise have had no trouble finding. Even if you do manage to find a candidate, you may not know they will fit into your company culture. With predictive analytics, you can avoid this frustrating experience and attract the right talent for your business. In addition, by identifying high-quality candidates early in the recruitment process, you can reduce the time it takes to hire them.
HCM software
Recruiters are playing an increasingly important role in human capital management, or HR, as they are tasked with aligning the workforce with the business’s goals. While the traditional methods of recruiting are still important, the trend toward virtual recruiting is gaining steam, especially with the rise of remote working. Instead of looking for candidates in their neighborhoods, businesses can now recruit top talent from anywhere in the world. In addition to using virtual recruiting software, recruiters and hiring managers should provide training to their staff and develop a standard candidate evaluation template.
The rise of remote working has affected HR and the role of recruiters, and companies are increasingly trying to improve processes. HR is making significant changes, including the adoption of artificial intelligence and machine learning. With the help of HCM software, recruiters can automate many manual tasks, freeing up their time for strategic activities like marketing to highly skilled workers and managing their employer’s brand. The future of HR is bright, and the use of HCM software can make the task of recruitment easier.
