6 Signs It's Time to Find a New Hiring Strategy
Join us in a city near you at Entrepreneur’s Accelerate Your Business event series kicking off Feb 23. View cities and dates »
Ever wonder why employers have a difficult time hiring talented employees?
Not many employers have adopted modern hiring strategies, which costs them the best talent, money and stress in the long run.
Here are some signs it might be time to find a new hiring strategy:
1. The company's recruitment strategy is treated as a “one-size-fits-all” game plan. No single method can serve an employer in the competitive search for talent in today's evolving marketplace. To create a winning hiring strategy, employers need to closely examine their goals, such as the type of talent they're trying to recruit for a position.
Once an employer creates goals for the hiring strategy, the right HR technologies can be deployed. Every employer has different needs, so not every HR technology will be effective in each situation.
2. The hiring process is too slow. CareerBuilder reported in 2009 the average time to recruit a new full-time hire ranged from 4.5 to 14 weeks. By last spring Labor Department data showed vacancies remained open on average 23 days instead of 15 in 2009. And a Glassdoor assessment last summer of 25 companies with a grueling interview process, according to candidates, found its duration on average had climbed from 12 days in 2010 to 23 days.
Currently from application to hire, Jobvite finds, the average time is 25 days for applicants sourced from employee referrals, 35 days from job boards and 40 days from a company's own career site.
Although employers often equate time with quality during the hiring process, they should realize that slow hiring can put a damper on the experience.
HR technology can significantly decrease the time it takes to hire a new employee at every stage of the hiring process.
To speed up the sourcing process, for example, employers can use a tool like Kivvik, which matches candidates with employers that are a good fit for their skills and personality. This also lets employers take the guess work out of the recruitment process when hiring employees who might make a good fit.
To speed up the interview process, employers can perform one-way video interviews with candidates. According to Aberdeen Group, 10 video interviews can be done in the time it takes to perform one screening by the phone.
3. The recruitment process doesn’t tap mobile devices. Employers who don’t incorporate mobile communications in their hiring process are missing out on a huge opportunity to reach talent.
According to Jobvite’s 2014 Job Seeker Nation Study, 27 percent of job seekers want to apply for jobs directly from their phones. This means employers need to optimize their company’s career website for the mobile web and perhaps even design a mobile app.
4. Big data is overlooked. Thanks to social media and Google, almost any person can be found at a click of a button. With the vast amount of information online, identifying the best hires can be difficult, however. Employers' use of big data during the hiring process allows for screening of candidates, measuring their skills and even figuring out how long a candidate might stay with the company.
5. The company’s applicant-tracking system isn’t used properly. Or maybe it's not a good fit for the organization. Many employers think the sole purpose of an applicant-tracking system is to store resumes and search for candidates. It can be so much more, however.
Having the right tracking system lets employers save time and money and help recruiters find better talent and receive resumes better suited for the post.
Picking the right system can involve a great deal of research and time. Be sure to consider factors such as the tracking system's performance, integration and ease of use. Test the system before purchasing it.
6. Social recruiting is ignored. According to Jobvite’s 2013 Social Recruiting Survey, 78 percent of recruiters have made a hire through using social media.
Social media lets hiring managers and recruiters establish a relationship with potential hires and learn more about the behaviors of candidates.
HR technology can definitely help employers cut costs and save time during hiring. By investing time in developing a stronger hiring strategy, employers cam find talented candidates faster and improve the overall candidate experience.
Please share your thoughts about improving hiring strategies in the comments below.
Related: Building an All-Star Virtual Team