The modern candidate wants more than a comfortable salary and a decent job title. Today’s candidate wants a job that fits in with their values, goals, and vision. Especially, Millennials, the largest generation in the workforce wants a job with a purpose, one that affords an enjoyable work/life balance. It is the job of the recruitment department to hire the right candidate for the right job. The Harvard Business Review indicates that nearly 80% of employee turnover is a result of poor hiring decisions. The recruitment process can often be pressure-filled, time-consuming, and difficult. It can also be costly. According to the Department of Labor replacing a bad hire can cost an average 1/3 of employee’s salary. In an effort to save time and money, here are some best practices for recruiting that ensure success.
In the job market, a candidate has one chance to make a first impression. The same goes for an employer that should develop a brand which attracts potential candidates to work for the employer. The key is to treat the employer brand like marketing by articulating the benefits the employees would get from working in the organization. A successful recruitment strategy will build on the employer-employee relationship and strive to differentiate itself from the competition. According to research, a well-managed employer brand attracts 3.5 more applicants per job. It also reduces the cost-per-hire by 50%. Some tips include: identify what makes the company unique, create an awesome company culture, and digitize your brand. A healthy employer brand includes a strong recruitment brand which stands out in the treatment of current and potential employees.
According to a LinkedIn recruiting trends report 48% of employees seek out challenging work, while 42% are concerned about career advancement. Another 41% of employees surveyed are looking for better compensation and benefits. Employee experience is a major trend in HR in 2017. It is the practice of the employer looking through the eyes of the employee. While employees appreciate a cool company culture and perks, the majority are looking to grow and develop skills in their current position. As the recruitment field gets more aggressive, a study has found that 90% of employers anticipate more competition, the opportunities for employee growth and advancement need to increase. While 83% of HR managers said the “employee experience” is important to their organization, 56% of those surveyed are investing more in training. The success of the organization as well as its recruitment depends on potential candidates being excited about the internal opportunities for professional development at their job.
The best practices for recruitment are rapidly changing with the modern demands of HR. An organization that builds a healthy employer brand will be positioned to attract the best candidate in its hiring process. It is a combination of improving the employer-employee relationship and marketing the employer brand including the recruitment brand. Likewise, recruitment strategies would benefit from an investment in training and development of the employees. Overall, this enhances the employee experience in the organization and fosters positive “word-of-mouth” about the opportunities for employees.