3 Current Trends in Recruitment All Employers Should Know
If you’re involved in recruiting for your company, you know acquiring top talent is more competitive now than ever before – and it’s unlikely this trend will change anytime soon.
By 2030, it’s predicted there will be a talent shortage of 85 million workers worldwide. This means hiring – especially for positions that require in-demand skills – will continue to be extremely competitive.
With job candidates driving the labor market for the foreseeable future, HR professionals and companies must recruit strategically to secure top talent. Here are three current trends in recruitment that, if leveraged, can help you stand out from the crowd.
TREND: Candidates vet your company’s online reputation, just like you vet theirs.
Technology has changed the way we screen job candidates, but the access to information goes both ways. Applicants today, especially millennials, rely heavily on social media and job sites to research companies and find open positions.
TIP: Get active on employer review sites. These sites are often a first stop for job applicants, and in today’s market, companies can’t afford to ignore them. Most recruiters agree – three out of four say Glassdoor reviews are at least somewhat important to the hiring process. Keep in mind that even negative reviews offer valuable feedback. Responding in the right way can turn naysayers into your most powerful advocates. Make sure someone on your talent acquisition team is not only monitoring reviews for your company but engaging with posts and encouraging interested employees to share reviews to enhance your company’s profile.
TIP: Consider adding Instagram to your toolkit. LinkedIn and Facebook are still the most-used channels for recruitment efforts, but Instagram’s popularity among job seekers could make it increasingly valuable. The number of millennial and tech recruiters leveraging Instagram has doubled since 2017. If your target demographic skews younger, consider deploying recruitment strategies on all three platforms to effectively reach potential applicants.
TREND: Employee referrals trump technology.
Using automated referral technology can help relieve some of the repetitive, time-consuming tasks in the beginning stages of a recruitment – but it’s no substitute for leveraging employee connections.
Collaborative hiring is on the rise, and for good reason – 82% of employers say employee referrals generate the best ROI. Referred hires not only save your HR team time, but these new hires are also generally higher quality employees.
TIP: Implement referral incentives. Cash incentives tend to be the most successful in motivating employees to participate in referral programs. To encourage quality referrals, offer a bonus for the initial referral and a larger bonus if the referral is hired and maintains employment for a certain time period, like six months.
TIP: Focus on retention. Retention is key to generating employee referrals. Ensure current employees are having a positive experience and provide benefits they value, like a flexible work-from-home policy and on-site child care.
TREND: The push for better benefits is in full force, with increasing demand for family-friendly offerings.
Employees are expecting more from companies when it comes to benefits – from additional paid time off to paternity leave and better health care coverage. Competitive benefits packages and cultural perks can be major differentiators for companies – think Google and Apple – and play a key role in attracting the talent they need to succeed.
TIP: Add more family-friendly benefits to your package. Offering near- or on-site child care is quickly growing in importance for working parents, especially millennials – 83% say they would leave their current jobs for one with more family-friendly benefits. Keep this in mind when reevaluating your company’s benefits package.
At Primrose on Premise®, we know attracting and retaining top talent is essential to your success as a talent acquisition professional and the success of your organization. By adding employer-sponsored child care to your company’s benefits package, you can provide added convenience and flexibility for working parents and set your company apart from the competition.
To learn more about how Primrose on Premise can help your company capitalize on current trends in recruitment, please contact our team.