Unemployment is low and the economy is strong, making it more difficult to attract high-quality job candidates, according to a recent report from job search site Monster.
Of the 400 recruiters surveyed for the report, 62% said their job is more difficult than it was a year ago, and 59% said it was more difficult to attract quality candidates than it was a year ago.
The number of job openings is at the highest point in 17 years, according to the report, and 59% of recruiters said there is a shortage in the skilled labor they require to fill roles. Competition from other recruiters is also a pain point in the process, according to 52% of those surveyed.
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These challenges have led the majority of recruiters (83%) to take a multi-solution approach to attract higher-quality candidates, taking approaches including direct outreach to candidates (89%), traditional job ads (88%), posts on company/career websites (84%), and social media advertising (83%). Despite these efforts, recruiters are still only passing 44% of job candidates on to hiring managers.
“Today’s strong economy is increasing the overall demand for talent, so recruiters are under tremendous pressure,” Bob Melk, chief commercial officer of Monster, said in a press release. “That underscores the need for an integrated recruitment strategy spanning the entire candidate lifecycle–from employment branding that introduces candidates to the cultural differences that demonstrate how your company is a great place to work, to social recruiting that targets passive candidates and engagement tools that let you connect via text messaging and chat.”
The report offered the following three ideas to help recruiters make better hires.
1. Bring marketing to the core of recruitment
While 67% of recruiters said they felt they needed to understand marketing to be successful, only 36% said they were using employer branding strategies to attract candidates, the report found.
“The savviest talent acquisition leaders have established an employer value proposition, are sharing that competitive advantage in a consistent way across channels and touchpoints, including job ads, career sites, and candidate emails, and are differentiating their messages based on what is most important to the candidates (whether that’s unique perks, benefits, or company mission, among others),” according to a press release.
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2. Create balance between digital and humanity
Some 64% of recruiters said they felt they needed to be digital experts to be successful, but 51% said that technology made it harder to connect with humans.
Before purchasing any tech solution, recruiters should identify the problem they are trying to solve, and then apply technology to it, the report said. “Look at the candidate profile you need and match it to solutions that can specifically reach that audience,” the release stated. “This can help ensure that you’re not spending more time managing systems than you are building relationships.”
3. Optimize your processes with data and analytics
About two-thirds (67%) of recruiters said they felt that they needed to be analytics experts to do their job, the report found, with KPIs including reduction of time to fill and sourcing costs. Using data can help speed the hiring cycle and land better quality talent, the report noted. “There’s an opportunity to use historical data wisely–for example, identifying the requisition patterns that lead to applicant hires,” according to the release.
“For recruiting to be effective in 2018 and beyond, it must transform to go beyond traditional methods,” Melk said in the release. “A multi-solution approach – combining marketing, digital and analytics – is critical in moving talent acquisition from recruitment stress to recruitment success.”