5 Parts of a successful recruiting strategy
June 21, 2018
Hiring practices have made a dramatic shift over the last few years. In the past, when jobs were scarce and people were desperate for work, an organization's recruiting strategy would be to list a job on Indeed or Monster, and then they would receive hundreds or even thousands of applications. They had their choice of candidates to fill their vacant positions.
Now, the unemployment rate has hit a low of 3.9 percent, the lowest it has been since 2000—which means that it's harder to find candidates to hire. According to a study by the Society for Human Resource Management, 68 percent of human resources professionals say the current talent market is challenging, and one half of organizations report that competition from other employers is holding them back.
If companies want to find and hire the best employees possible, they may need to take a hard look at their talent acquisition process.
What Is Talent Acquisition?
Talent acquisition is a long-term, big picture strategy that human resources uses to recruit, hire and onboard the top talent to an organization. Talent acquisition and recruitment go hand in hand; while recruitment is about bringing the right candidates to the company, talent acquisition involves properly training these candidates and ensuring they are empowered with the right tools to succeed within the company.
With talent acquisition, human resources professionals oversee the candidate experience, figure out how to lower hiring costs and improve the quality of the employees they are bringing onboard. It is a proactive recruiting/recruitment strategy that extends beyond the new hire's first day and guarantees they have a positive and enriching experience at the company.
If organizations want to have a more effective and successful talent acquisition strategy, and retain their top employees, they need to work on improving the following:
1) Workforce Planning
Workforce planning involves looking at how many employees a company needs to function day-to-day, and what skills these employees need to have to ensure that they are performing their jobs at the highest level. Staying on top of this information will help HR plan for the long term.
2) Employee Branding
Employee branding is all about creating and cultivating an employee value proposition, as well as properly communicating that proposition to job seekers. For example, perhaps a company offers perks like unlimited vacation or free lunch, or it is known for its donations to local charities. These facts will attract candidates to a company.
Channels are where a company advertises its vacancies. They include branded career websites, job boards, agencies, social media and employee referrals. If Indeed or ZipRecruiter isn't helping human resources locate the right candidates, they should switch up their recruiting strategy by hiring agencies and asking current employees for recommendations instead.
4) New Hire Onboarding
New hire onboarding is all about how companies bring in new employees and set them up for success. For example, HR will need to thoroughly train these employees and be there to answer any questions. They should also ask for feedback regarding the hiring process and make improvements for future employees.
Effective talent acquisition is not just about having an excellent recruiting strategy, but also a retention strategy. What is HR doing to keep employees happy and motivated? Some techniques for accomplishing this involve providing constant learning opportunities, letting employees take the reigns of their learning experience and their careers and listening to their feedback. If these benefits are highlighted during the candidate hiring process, then candidates will be more interested in working for the company.
Do you want to take your talent acquisition and recruiting strategy to the next level? Are you looking for ways to stay competitive in the current climate and beyond? Learn how to stand out and attract and retain the top talent with Cornerstone's Recruiting Suite Software.