Today’s job seekers have high expectations that go above and beyond a competitive salary and "cool" company culture. To hire and retain as efficiently as possible, TA teams must embrace new strategies aimed at creating a better overall talent experience for candidates and employees.
Here are 10 ways to improve your talent acquisition and management efforts in the new year:
1. Track recruitment KPIs and set measurable goals
Time to hire, applicants per hire, application completion rate, and cost per hire are all metrics every skilled recruiter keeps in mind so they can prove their ROI. If you can tie your value back to the financial ROI of the organization, you’re going to improve your strategy and feel the push to perform.
The simple truth? Time is money, and turnover is extremely costly. A recruiter who efficiently sources a hire that stays with the company makes a stronger recruiter than one who’s focused on sheer volume.
2. Partner with marketing to build your employer brand
A company's employer brand is incredibly important. A main reason? You want to grow your employee base with people who align with your company’s vision and purpose.
When your employer brand is firmly established and accurately reflected on your career site (and in all recruitment marketing activities), applicants that resonate with it will come pouring in — providing phenomenal talent who turn into long-term employees.
The common denominator of companies with a stellar employer brand? A strong partnership between their HR and marketing teams. Recruiting has become a form of marketing — and collaborating with colleagues who are skilled in creating and optimizing content will only help differentiate your organization.
3. Nurture relationships with “silver medal” candidates
Candidates who don’t make the first cut for a particular req are often a great fit for another role. Yet many recruiters are quick to move on to other opportunities without re-engaging “silver medalists” in their CRM. Big mistake.
These job seekers are just as valuable as the rest of your candidate pipeline. Connect with them through hyper-personalized email and SMS campaigns to keep the lines of communication open.
Presenting relevant opportunities by skill set, job experience, and location is a great strategy — especially if you feature dynamic content like video job descriptions and employee testimonials.
4. Diversify your candidate pipeline
Different genders and ethnicities bring a variety of skill sets to departments. The last thing you want is to lose an entire demographic off the bat with biased content. If there’s a pattern of attracting only men aged 30-35 or women aged 22-32, for example, it’s time to take a closer look at your recruitment strategy.
Job descriptions and employer brand are strong indicators of who will apply to your roles. Make sure all content is unbiased and revisit goal #2 by looping in your marketing team to compose compelling content that attracts instead of ostracizes.
Resource: Uncover Hidden Bias in Recruiting
5. Elevate your employee experience to retain talent
Attraction AND retention must be high on the priority list — especially in today's labor market. If the only focus is on getting career site traffic to jobs postings, you’re losing half the battle.
New hires may envision themselves at a company long-term — but only if they connect with its purpose, feel valued, challenged, see room for career growth, and are fairly compensated. Today's candidates and employees want it all, so give it to them.
Apply the same candidate experience ideology to your employee experience to improve retention and foster loyal brand advocates.
6. Turn to existing employees for referrals
Sourcing talent from your CRM, hiring events, LinkedIn, and job boards is standard procedure. But are you leaning into leveraging employees' networks? Talent knows talent. Ask your coworkers if they have anyone in mind who's ready for a career move that's suitable for the role you're filling. They have first-hand knowledge regarding company culture, after all.
With the right tech to support an employee referrals program, it's easy for employees to refer their professional networks to open roles. A good tool will let employees link directly to open positions on your career site, and enable them to post to social media.
With tracking capabilities, you can also keep everyone in the loop regarding hiring status — and recognize employees for their contribution to getting new talent in the door.
7. Champion internal mobility with a talent marketplace
The best-fit candidate for an open position might already be part of your organization. Upskilling existing talent is a great way to support internal mobility and employee development while meeting company needs.
Career pathing powered by artificial intelligence can highlight skills gaps, identify internal talent for future openings, and help TA teams determine when they should look externally to fill critical positions.
Once internal employees are identified, managers can recommend learning courses or gigs — short-term projects within an organization — so they can get hands-on experience and acquire new skills. Gigs also enable employers to reallocate talent to in-demand or critical areas of the business.
8. Implement technology to remove repetitive admin work
The definition of recruiting is to enroll someone in an organization for a cause. As a recruiter, this is your job along with all the monotonous work that comes with it. But we live in the age where automation tools can handle the bulk of the administrative workload so recruiters can focus on more high-level tasks.
Scheduling a single candidate interview, let alone multiple interviews, can be a recruiter’s most time-consuming responsibility. Automated screening and scheduling, however, can help you book interviews at scale, coordinate with internal teams, provide a remarkable candidate experience, and win back your day.
9. Improve the candidate’s lifecycle with consistent communication
Some miscommunication during the talent journey is inevitable. But major communication gaps are unacceptable according to today's talent — which makes this key revelation from our 2021 State of Candidate Experience report particularly concerning: Only 1% of Fortune 500 companies send a follow-up communication after receiving an application submission.
Advice to live by: Always let candidates know you appreciate their application, and answer their questions about its status. If they progress to an interview, explain the process and set clear expectations.
For candidates who aren't hired, express your appreciation of their time and encourage them to look out for future roles by joining your talent community. Continue engaging and nurturing them based on the content they interact with most — this is where intelligent talent analytics can underpin a truly personalized recruitment marketing strategy.
Frequent, expeditious communication between recruiters and hiring managers also impacts the candidate experience, so make sure these key talent stakeholders are also empowered to collaborate as seamlessly as possible.
10. Increase conversion rates with AI-driven technology
Artificial intelligence for recruiting, hiring, developing, and retaining talent is here to stay. So take advantage of it to connect with best-fit talent faster — increasing your speed, volume, and quality of hire.
Talent Experience Management (TXM) platforms are one of those AI-powered solutions that offer white-glove delivery of engaged candidates right to your desktop...or mobile. Do your research and implement a platform that boosts your recruitment strategies for 2022!