The corporate ecosphere has acquired a dynamic state than it was ever before. The alarming rate of unemployment, skill gaps of resources and the scarcity of good resources have led to a talent war, which can be won only by changing hiring perspectives and making them more strong and data-driven.
The wake of 2019 brings in innovative ways to attract and retain talent, which has left the candidates with better ways to conduct job searches for their next choice of the employer. In such a scenario, it has become imperative for talent acquisition to come at the forefront and take a strategic seat at the table. Here are some talent acquisition strategies for 2019.
1. Merging Talent Acquisition with Business Goals
The list of best strategies starts with the merger of the process of talent acquisition with the overall business goals, as it is the foundation of a strategic approach. You can do this by staying consistent, across every touch point a candidate has with your organization, they should all get the same message, what your company goals are and what you are trying to achieve by having them as a part of your company.
Once the hiring process starts, it is important to set a regular process of communication with the hiring manager, such as a weekly email report or a quick in-person chat, whatever works best.
Taking this approach ensures that everyone understands their expectations and responsibilities. It also means outlining who in your organization is most vital to the hiring process and establishing strong relationships internally with them.
2. AI-driven Talent Acquisition
Gone are the days when the talent acquisition team carries power-point presentations to the meetings and leaves the more complex, data-driven excel spreadsheets for other executives to discuss and dissect. Talent acquisition teams today heavily rely on data, with having a simple dashboard that they can access at any time to help keep metrics top of mind. This lets them not just formulate great strategies, but also become trusted advisors to others in the organization.
One of the tools for making recruitment funnel more efficient is predictive analytics. Predictive analytics models can identify stronger candidates more quickly and accurately. HR software tools don’t just offer the technology that fully integrates the entire recruitment process, but also provides their own data across their client base and for the specific industry the company belongs to. The data can be used to benchmark the company’s programs and make the most of their association.
Today, talent acquisition professionals have a wide array of data at their fingertips. They have various data points to discuss such as pass-through rates at each stage, time to hire, candidate experience and offer acceptance rate.
3. Candidate Experience Should be the first approach
The importance of this approach cannot be underestimated, especially with the ever-evolving talent market. Candidates are a lot like customers – they want to know that the company cares about them and it has their best interests in mind.
‘Customer-centric’ marketing approaches are soon being replaced by ‘customer-first’ marketing approaches. The latter is just about making the customer an intrinsic part of every decision made. This also applies to recruitment – companies need to change their approach to a ‘candidate-first’ mentality!
Positive candidate experience’ is the current, past and future of the candidate’s overall perception about your company and its recruiting process. A Candidate’s experience is basically the candidate’s feelings, behaviors and attitudes which they experience during the whole recruiting process, right from sourcing to screening to interviewing then hiring and finally the onboarding.
A negative candidate experience can not only cost you some great candidates but also lose your company some million bucks!
4. Organized Hiring Process
Adopting a structured hiring process is going to be of one of the important choices, that the talent acquisition teams will take upon. A structured hiring process involves defining an ideal candidate by the business objectives of the job, having a deliberate process in place to assess the candidates and having a solid base of data and evidence for making hiring decisions.
This means that every company needs to have dedicated LinkedIn creative and regular postings to make everyone on the platform aware of the new opportunities with them. People who view them can refer or tag others in their circle, who might be interested in an opportunity with you, which is great for building a talent pool for your company.
LinkedIn research has shown that only about 36% of potential candidates are job seekers. However, more than 90% of them are interested in hearing about new job opportunities.
5. Social Recruiting
Social Recruiting refers to the process of using social media channels for the purpose of recruiting. Recruitment through social media involves platforms like Facebook, Twitter, LinkedIn etc. It also includes recruitment from job portals, blogs, forums, job boards and websites like Glassdoor in order to find, attract and recruit the best talent. The benefits of social recruiting are numerous, but why is social recruiting gaining so much popularity?
With social recruiting, you can achieve the following things:
- Reach the passively job searching candidates
- Social recruitment helps to get more referrals
- Target only your best fit candidates
- Use social media to showcase your company culture
- You can establish a personal connection with your potential hires
- Save a lot of money
6. Inbound Recruitment
Inbound Recruitment is a strategy that allows you proactively and continually attract your potential hires so that they choose you as their next employer. The primary goal of inbound recruitment hence is to attract, engage and convert candidates. It can be a great recruitment tool in case you are looking for a long-term solution to advance your recruiting and hiring strategies. With the implementation of inbound recruiting in your hiring strategy, you can build an Employer Brand that will enhance your pool of high-quality applicants.
Famous corporates have already implemented inbound recruiting as their preferred recruitment strategy. After implementing inbound recruitment though it will takes some time to get the desired results but in the long run, the time, cost and quality of the recruitment will dramatically improve.
7. Employee Referrals
Employee referrals are also quite a popular method of finding high-quality candidates based on the recommendations of the current employees of the company. By setting up a good employee referral program, employers and hiring managers companies can get a better ROI, and quality of the potential hires. Referred employed stay longer with companies