With the rise of new technologies, companies have an increasing amount of both candidate and employee data. This data is the fuel needed to power innovation and drive machine learning algorithms, setting the stage for AI (artificial intelligence) as the next big trend in recruiting. But we have a long way to go.
What are the tactics to overcome the challenge?
Most talent acquisition pros are still mastering the marketing skills that it takes to be a good recruiter in this digitally transformed landscape. Figuring out ways to cut through the noise and start a meaningful exchange with future employees is the single biggest challenge facing recruiters today.
With average turnover among millennials (the biggest demographic in today's workforce) at 33 percent, the only way you're going to be successful is by building a pipeline of talent and establishing an employer brand with a strong online presence. To win the talent of tomorrow you need to focus on the tactics of today, and at least for now, recruiting is still marketing.
Marketing tactics remain king in hiring
It's been fascinating to observe the parallels between marketing and recruiting. It happens time and again — there's an innovation in the world of marketing, and a few years later, we see the recruiting industry demand similar technology. Over the last decade, it has become increasingly clear that marketing is a telltale indicator for the next trend in the talent acquisition landscape.
With the last decade of bullish growth and hiring demand at an all-time high, the industry's leading recruiters are making the shift to talent pipelining. Branding and outbound efforts to drive career site traffic and interest in your company (push style marketing tactics) are fast becoming the most valuable thing a recruiter can spend time on.
The struggle is balancing the short term demand to fill today's jobs, while still finding time to focus on building a long-term talent pool. It's the innovator's dilemma for recruiters.
Putting the 'personal' back in 'personnel'
For nearly half of the people surveyed, a bad candidate experience means not only never considering working at your company again, but also not using your products either! So, you might not only be losing out on talent but also customers too. For example, according to Jobvite, nearly one-third of young people won't hesitate to preemptively reject a company that has poor reviews on Glassdoor.
You don't necessarily see that "Glassdoor effect" in your hiring reports, but it's clearly an external factor that can have a huge impact. Thanks in part to millennials who share an increased focus on values, transparency, and authenticity employer brand today requires a distinctly human touch. AI may help solve this problem someday, but for now, talent acquisition teams are looking to recruitment marketing and a personalized candidate experience to drive improvement.
Poor experiences today can range from a website that isn't properly optimized for mobile to slow response times from recruiting and hiring managers after an interview.
Recruiters are in the rejection business
The sales and marketing funnel shares distinct similarities with the recruiting funnel. However, one of the key differences between marketing and recruiting is that while we are both moving our "prospects" through a funnel, marketers want everyone to flow through the process and all become customers.
Recruiters have the difficult job of narrowing that hiring funnel down to the one person that gets the job. Recruiters are in the rejection business having to reject sometimes thousands of applicants to make just a single hire.
This is where recruiting software and artificial intelligence can make an immediate impact. AI and machine learning have advanced enough to help recruiters automate some menial tasks such as posting to job boards, digging through resumes, initial candidate screening, and interview scheduling.
Full-cycle recruiting platforms equipped with automation in these areas can help solve the innovator's dilemma for recruiters, freeing up valuable time to focus on the more human elements of recruiting.
Balancing short-term vs. long-term demand
Like marketers struggling with balancing the short-term demand for "leads" vs. the long-term corporate brand, recruiters too must consciously work to strike their own balance. If you're only spending time on the short-term demand to fill open requisitions, you'll be caught flat-footed whenever you have increased hiring demand or decreased employee tenures.
Think like a marketer, strive to engage with passive candidates who aren't actively looking to keep your company top of mind when those A-players decide to make a change. Challenge yourself to further drive that change in 2019, deepen your talent pool, and be ready for the next hiring push.