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Impact Investing

Are You Investing in The Right Hiring Solutions?

This is how an employer identify the right tools, technologies, recruitment consultants, staffing agencies to invest in
Are You Investing in The Right Hiring Solutions?
Image credit: Shutterstock
Guest Writer
Founder, Beatmysalary.com
4 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The key to success for every business is “Speed”. For some businesses, speed may be equivalent to being fast in communicating, while for others it may be the ability to complete a certain task in a certain amount of time. For most, it is about beating the competition and staying ahead of the game. Especially, when it comes to hiring the best of the breed employees, employers have to always stay ahead in the game of recruitment and complete the hiring cycle in the least possible time-frame to remain relevant and competitive in today’s recruitment market.

Recruitment is a challenging business, where the challenges are multifold. An employer, for instance, who wants to hire the best of candidates often has a daunting task ahead of going through a tiresome process. Writing Job specification is the first thing that any employer does first, however capturing finer nuisances of their “ideal candidate” is often unclear and is extremely difficult to articulate in words.

That is where the wisdom of a consulting firm or a placement agency comes into play. The consulting firm aims to understand the core DNA of the employer before even starting to look for a candidate, suitable for pocket and company’s work ethics both. Along with the employer’s preferences, it is also about fulfilling the career aspirations of an individual and being able to unite the focal point of a person’s career ambition to the realistic needs of a business.

For most employers, it is horrifying to perform end to end search, invest time and effort into finding a needle in a pile of the haystack is often not as fruitful as one may anticipate. What’s the worst part? They not only have to find the needle but also do it really quickly. This compels employers to outsource this task and look for sophisticated tools and clever ways of finding the talent, considering their budget and within a stringent timeline.

Employers have to wisely invest in tools and trends to stay competitive in the hiring market. It is an extremely competitive and crowded market. The highly skilled talents are always in great demand and short in supply regardless of what the global hiring scenario is. So how does an employer identify the right tools, technologies, recruitment consultants, staffing agencies to invest in?

Invest in The Latest Technology Driving Hiring Solutions: AI, Machine Learning and Big Data Solutions are leading the matchmaking space within the hiring industry. Not only the job portals are outdated, but the old style job agencies and cold calling techniques are also obsolete. Invest in staffing companies who have unique sourcing engines driven by AI, Machine learning and Big data-driven algorithms. If the staffing company has a web portal that aims at sourcing talents through the use of these cutting edge technologies than nothing like it.

Also, data privacy is the key at all levels and especially paramount for senior people in the industry. This is even more important for people at leadership role and for executive search firms. Days are gone when candidates would give away their contact details and personal information in the public domain or embedded within their CVs. So invest in solutions that facilitate handshaking with candidates after mutual interest is established and on solutions that prequalify a candidate for the role.

Experienced Sourcing Team: Sometimes engaging a sophisticated team of sourcing experts can be rewarding. Do not forget if you are dealing with a recruitment agency who has this team of sourcing experts then they are your company’s brand ambassadors. The way in which they speak to the candidates in the market and the way they use your company’s brand to gain a candidate’s attention will affect a company’s brand, reputation and positioning in the market either positively or negatively. If the sourcing team employs unethical approaches or come across as naive about what they are talking about will directly dent the employer's reputation.

Remember, one bad experience to a candidate can cause cascading effect and can go viral on social media causing extremely high reputational damage to the company that the agency represented. While selecting and empanelling an employment or staffing agency, be doubly sure on the techniques they use to source candidates. Also, ensure that they have a team of qualified experts who understands requirements well and are able to carry the brand and integrity of the employer they represent and act as brand ambassadors and not someone who is a pesky cold caller.

By investing in the right set of tools and technologies, teams and skills the companies are able to attract not only the best talents but also retain them in the long run.

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