Recruitment

Productivity Parameters for Recruiters

Traditional recruitment process has taken a back seat in recent times. With new trends influencing every industry across the globe, technology has advanced steadily that has impacted growth of every segment. With this the recruitment process has also remodelled itself to meet the increasing demand for candidate sourcing. It is no more about the experience and gut feeling of the hiring manager. The hiring process and candidates have been quantified with the help of certain parameters. Hence the performance of the recruiters can now be measured and evaluated based on below factors.

  • The first and foremost parameter that forms the basis of the recruitment success and effectiveness is the time to hire factor. It is the time span that is taken up by a recruiter for bringing in the candidate onboard. The duration is counted from the time the job posting goes live across various platforms to the successful placement of the candidates. Organizations which have a strong talent management process usually have the lowest time to hire quotient.
  • Next factor to consider is the sourcing channel. The conventional sources such as job portals and normal company database wherein candidates drop in their resume are no more sufficient to indentify talents. Recruiters need to build up their own network of talent sourcing which may include personal channels, following up with the referrals and a strong reaching out ability to the passive candidates. The third scenario is the toughest to handle as these candidates are not looking out for job change. Convincing them to the selection process and finally placing the offer is a strategic work that requires proper planning and discussion.
  • Next in line is the cost of hire. It includes the compensation and other benefits that are offered to the candidate. There are a few to things to consider in this case. In case of technical professionals where the skill availability is less, it is obvious that the demand for compensation will rise. But the recruiter needs to understand the budget and work accordingly in order to retain the candidate as well as sustain the company benefit.
  • Just recruitment of a resource now days are not enough to add value to the workforce. The recruiter needs to identify a resource that can adjust with the company work environment and connects with the brand so that learning and development investment of the company gets paid off.
  • The ratio of the current vacancies versus positions filled for a particular time period is a good parameter for recruiter ability judgement. It can either be measured monthly or quarterly depending on the company policy.
  • Offer acceptance ratio is another factor that reflects the performance of the recruiter in terms of convincing the candidate regarding the positions. It needs to be performed from the sales point of view for effective results.
  • Lastly, the gender mix should be considered for performance evaluation. Workforce diversity is an important aspect of employee base for every organization and that can be looked upon through this parameter.

The Recruitment Funnel – the effective approach combating talent scarcity scenario

The recruitment industry constantly faces the challenge to find the right talent with right functionality. Due to diversification of the industries and domains, there is a massive requirement of niche and top notch professionals who have the knowledge about recent industry trends and technological innovations. But sourcing of such talents has become a tedious task for the recruitment firms and hiring managers. However, the new concept of recruitment funnel has evolved in recent times that can source the talented candidates through a steady pipeline. The framework of recruitment funnel involves five major steps, namely, Employment Brand, Sourcing, Candidate Experience, Candidate Selection and Insight.

  • Employment Branding refers to the company’s exposure as an employer in terms of work environment, compensation, employee benefits and such like. The unemployment is at its lowest rate in current times. One needs to understand that candidates now have multiple opportunities at hand when they consider employment. According to published sources, 56% employers who have a strong employment branding usually are preferred by candidates. So it is essential to keep track of a company’s brand value in terms of a recruiter. Based on this research a detailed layout of Employee Value Proposition should be structured and implemented within the organization.
  • Next is a highly effective sourcing process. Two major trends currently making rounds in the recruitment industry are tight labour market and multiple opportunities leading to high iteration rate. It has been observed that millennial altered their employment 15 to 20 times in their entire career. Hence the sourcing process should be dynamic in order to retain and engage the existing talent in a positive manner. Application Tracking System (ATS) is an effective approach for this initiative.
  • After taking up the first two initiatives, there is a need to build up the candidate experience in terms of brand knowledge. The content that is available on social media platforms, job boards and professional networks are a good source of interaction with the candidates. Some part of social media interaction is covered during sourcing, so it better to concentrate on application and interview process during this stage. The job posting should be structured in a way that represents a lucrative offer for the candidates. The application process should be made convenient and multichannel at the same time. Candidates should be able to apply for the job on the go especially through mobile phones.
  • Candidate selection process should be streamlined. One of the first pointers to note is that whether the resume is coming in with a cover letter. This shows the seriousness of the candidate as well as highlighted achievements relevant to the job role. Various online tools are present that can evaluate the technical and soft skills of the candidate before calling in for a face to face interview round.
  • The last stage of the funnel is gaining Insight. The market and industry need to be regularly monitored in order to tweak the recruitment model according to trend changes.

Team Building – The edifice of organizational structure

Team building is commonly referred to as recruitment of certain individuals who will collectively work towards achieving a specific set of tasks and projects. But the actual interpretation of this concept is way different. In actual terms it is referred to as a set of activities undertaken by an organization towards development of social interactions and communication within teams as well as other work groups. It mostly involves collective activities which can be related to the work or sometimes fun and creative activities as well. It is a type of training that improves the functionality and efficiency of a team to a significant level. The importance of this approach is as follows.

  • The activities conducted under team building initiative primarily helps in improving the communication levels between individuals within work groups as well as other teams’ members. This improves the work environment to a great extent by making the work culture friendly and informative at the same time.
  • As per research it has been observed that people tend to generate more creative ideas and contribute proactively within work environment when they are comfortable among their team members. Hence team building activities are a direct contributor towards generation of innovation and creativity.
  • It motivates people towards building up the team spirit which increase the fun of work and celebration of a successful project.
  • It generates a healthy competitive environment where in people strive for the best in a way that show cases their talent and contribution that becomes the source of others inspiration as well.
  • It helps in indentifying the strengths and weaknesses within a team. In this way it aids in striking the right balance of skill sets that is essential towards project management and boosting the performance of the team as a whole. It is a direct contributor of productivity increase and performance enhancement.
  • Channelizing information within team members increase the flow of information and facilitates knowledge sharing that helps in better management. Team building is a positive initiative towards building this approach.

With this, it is essential to keep certain elements in mind while conducting team building activities.

  • Even before deciding on the team building activities, the objectives should be clearly laid out for the same. There should be clear indicators and bench marks for this type of approach. A leader role should also be nominated beforehand so that, he or she can supervise the entire process systematically.
  • Commitment is an essential element in this regard. One should understand that this initiative is not for personal rewards and benefits only. It is rather a team approach to gain insight and rewards collectively.
  • Communication as mentioned earlier is the key to success in team building initiative. The participating individuals should have the clear understanding of the initiative, its purpose and end result in order to gain desirable results.
  • Lastly, rewards and appreciation is essential in this case. It helps in building up the confidence, urge to perform and give the best.

Impact of social media on Recruitment

Human Resource and Talent Acquisition forms the most essential part of an organization’s function. While organization use sourcing avenues like Employee Referral, Job Portals, Recruiting Agencies to find suitable Talent, the latest trend is hiring through social media. The current trends in digital recruitment marketing reinforce the idea that candidates have to be on major social media channels like Facebook, Twitter and LinkedIn. This is, however, a trend that might not last long. Looking for jobs or candidates on what are considered alternative social media networks might yield better results.

There is really high competition for finding your company or you as a candidate on major social media networks as everyone else is there. Especially for tech-savvy or specialist roles in your industry, going to specific networks is a better plan. As far as Indian context is concern, there are multiple views presented by experts about which particular platform is actually leading the way but one thing is for sure, “Social Media Recruitment” has actually taken off and Indians have accepted this with open hearts. What favors the use of social media in Indian context is the personalization factor which is the crux of communication through social media channels.

Considering the other end of horizon, even job seekers have understood the importance of social media in getting new jobs. Social media tools and social networking sites have revolutionized communication methods, both privately and increasingly, at work.

Communication through social media involves the use of an online platform or website (a social networking site) that enables people to communicate, usually for a social purpose, through a variety of services, most of which are web-based and offer opportunities for people to interact over the internet, e.g. via e-mail and ‘instant messaging’ (a form of real-time, direct text-based communication between two or more people using personal computers or other devices).

The Benefits of Using Social Media in Hiring

Candidate Quality – Those who frequently use social networks may be the highly desirable “early adopters”. This source may identify higher-quality candidates (including those who are more technically savvy and innovative). Note: The simple act of listing the primary source (that generated the resume) on the top corner of every resume will, over time, educate hiring managers and eventually lead them to shift their recruiting efforts toward sources that appear most frequently on their short list.

Hidden Candidates – The perfect candidates for your position may not be actively looking for a new job. Networking through social media can help to identify qualified candidates who cannot be found or successfully messaged using other sources.

Candidate Diversity – Social media may assist in identifying a higher percentage of qualified diverse candidates in managerial and professional jobs.

Cost per hire — The recruiting-related transactional costs can be significantly lower compared to other sources.

Employer Brand – Social media sites increase your visibility as an employer and significantly improves your leading-edge employer brand image among targeted prospects (even if the image-building it doesn’t result in immediate applications).