June 30, 2023
Top Hiring Practices For Businesses to Attract the Best Talent
Hiring practices have changed significantly throughout the years. Companies are continually searching for new and innovative strategies to find the most desirable candidates. Whether it’s through online platforms, Applicant Tracking Systems (ATS) or social media, organizations have a plethora of options to help them make informed decisions when selecting a prospective hire. Also, with the growth of the gig economy, more organizations are hiring freelancers and contract workers. In a world of perpetual change, it’s vital for companies to be ahead of the curve when it comes to sourcing candidates.
The advent of the Internet has revolutionized how organizations recruit candidates. Employers are now utilizing digital platforms to provide a broader reach and access to a larger population of job seekers. Online resources such as LinkedIn, Indeed and Glassdoor reach millions of potential candidates across the globe. By creating a robust profile on these sites, organizations can effectively build their employer brand and distribute job postings, allowing them to attract top talent. Additionally, Internet-based job boards provide key insights about the job market, including salary information, job descriptions and guidelines for interviewing processes, thus giving organizations the upper hand when interviewing potential applicants.
What is an ATS?
One of the most valuable tools companies use to streamline their recruitment processes is the Applicant-Tracking System (ATS). Applicant Tracking Systems (ATS) first emerged in the late 1980s, when the recruitment process shifted from paper-based to digital. They initially appeared in the form of a basic software package, designed to help with the tracking of job applications.
Today, ATSs are widely used, with a reported 83% of companies using some sort of applicant tracking software. According to a recent survey conducted by a leading software company, most employers looking for a recruitment-related software solution sought an ATS. The survey also revealed that almost all employers surveyed had already implemented some form of applicant tracking software. These figures indicate the significant progress that applicant tracking systems have made in the last decades. This system enables employers to manage large volumes of candidates, track interview timelines, rate applicants and assess applicants based on their specific qualifications. An ATS also automates mail tracking tasks, allows for customized tailored job postings, and provides customized applicant experience. By leveraging an ATS, organizations can efficiently search, identify, and assess suitable candidates.
How does social media help with recruiting?
Apart from online job boards and applicant tracking systems, social media has also arisen as an influential recruiting tool. Social media platforms such as Facebook, Twitter, and Instagram have revolutionized the way employers search for qualified candidates. Not only can employers access potential hires from across the globe, but they can also establish relationships with hires before and after the interview process. Social media gives employers an inside look at a candidate’s personality traits, cultural values, work ethic and soft skills. Companies are increasingly using social media to research candidates before having them come in for interviews.
Additionally, organizations are utilizing internal and external referrals as well as word-of-mouth to find potential candidates. Word-of-mouth is a commonly used method of recruitment for many companies and is estimated to fill up to 15% of job vacancies.
The types of jobs most frequently filled by word-of-mouth are high-level management positions, technical roles, and client-facing roles such as sales. This is because companies require specific skills and experience for these positions that can be difficult to find through other recruiting channels.
Costs associated with third-party software or membership fees are not applicable when opting to choose a job candidate referred to by an employee. This is because word-of-mouth referrals are a free option for employers and generally yield quality candidates. Furthermore, because the referred candidates have already been vetted by one of their employees, they are likely to be a better fit. However, it is important to keep in mind that these referrals are not always successful, and the employer may incur costs if they decide to terminate the employee.
What are traditional recruiting methods?
Finally, it’s important to note that even in the face of so many innovative recruitment tools, traditional methods of recruitment still have a role to play in today’s hiring. Traditional methods of hiring can still provide employers with suitable candidates. Job fairs, classified ads, networking events and associations can grant access to otherwise inaccessible prospects.
Although job fairs and classified ads are declining in popularity, employers should always keep them in mind as viable recruiting sources. Job fairs can be a great way to locate jobseekers who are actively looking for employment. It also gives employers a chance to meet with potential candidates face-to-face. Additionally, classified ads are a great way to reach out to a larger pool of applicants.
Networking events and associations are also popular among employers and offer many advantages over technology-centric or social media-based recruitment approaches. For example, these events provide an opportunity for employers to create contacts with prospective candidates and to build relationships and trust with industry contacts. Additionally, such events are useful for sharing industry insight and providing an employer with a better view into the job market. Moreover, such events can be used to get the word out about job opportunities and to track industry trends.
Overall, despite the advancements in recruitment technology, job fairs, classified ads, networking events and associations are still relevant and should not be overlooked as possible recruitment sources. By utilizing a variety of methods, employers can make the most of their recruitment efforts and find the right candidates for the job.
In the market for quality employees, employers must maintain a hybrid approach: by utilizing both technology-based recruitment methods and traditional recruitment processes. In doing so a company can gain access to a wider and better applicant pool. Failure to do so can result in an inadequate candidate pool – decreasing the chances of finding the best candidate for the job.
Does technology help or complicate recruiting?
The emergence of technology has certainly influenced the recruitment process. We have seen the growth of online profiles whereby companies are able to offload their recruitment activities. With the access of online software, recruitment boards, applicant tracking systems, and other automated technologies, employers can find and screen potential candidates with a degree of ease and accuracy. However, while these recruiting technologies may make it easier to source applicants, they don’t necessarily guarantee the best candidate for the job.
This is why more and more companies are also relying on traditional recruitment processes to vet and select the best candidates. Employers should leverage multiple sources and employ a multi-step process to reach the best and most qualified applicants. For example, advanced pre-screening options such as psychometric tests, online aptitude tests, and cognitive ability tests can help make the most informed decision about the qualities for a role. Regardless of where the candidate was discovered, the level of detail, or accuracy of their information, having them undergo a pre-screening aptitude test will give the employer a universal baseline for everyone in their applicant pool.
A balance of both traditional and emerging methods is key to a company’s recruitment strategy. Utilizing a hybrid approach allows employers the chance to cast the widest and strongest net into the applicant pool. It also allows them to think outside of the box when it comes to seeking out talents and skills which may not be found through the traditional forms of recruitment.
On the other hand, focusing solely on either traditional or technology-based methods will have its pitfalls. For example, companies may be missing out on a more vibrant applicant pool due to a lack of diversity and untapped resources, if they rely too heavily on the conventional recruitment practices. Likewise, a disproportionate favoring of new technology may mean that applications are perceived to be more deserving than those from the ‘old school’ approach.
Overall, using a hybrid approach to recruitment can help companies ensure that they find the best candidates for the job. Through utilizing both traditional and emerging technology-based recruitment methods, companies can tap into a much larger and diverse pool of applicants, thus improving their chances of capturing the best recruits. By optimizing recruitment strategies, businesses can ensure they can attract and hire the best talent for their organization. Companies that take the time to prioritize their hiring processes can be rewarded with a team of talented and motivated employees.
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