Recruitment, or talent acquisition, is an important aspect of a business emphasizing the need to pool a reliable team of skilled and knowledgeable working people, that will positively contribute to the overall success of the business. Every organization needs people, and its intelligence and capacities can never be matched with any technology-based tools or solutions. Effective human resource management is a leverage for any business, and should be managed and be motivated well, in order to tie up with the business system for an effective working relationship, and more positive results.
The rise of digital technology enabled businesses to achieve the benefits of going paperless and easy access to various types of information through the internet. Businesses, either big or small, are given opportunities to grow and expand through e-commerce. Relationships are built, whether professionally or personally, through strengthened communication channels, like the VoIP and the social media paving the way for people to interact globally. Many lives got interconnected, and we see the same trend with recruitment – the emphasis is on relationships.
Nowadays, we see ourselves in a fast-paced living, wherein technology is progressing at the rate in which you see that gadgets are being outdated in 1-2 years’ time, and market trends are averaging 3-6 months the longest. It seems that we cannot fully realize the return of our investments because we are driven to constantly update or change. The analogy of recruitment is that employees would somehow get bored or not be intellectually challenged that they tend to change jobs easily. For companies, this is considered a loss, especially with all the costs incurred to hire and train, which may not be recouped yet before an employee leaves. There is a need to uplift the recruitment processes and methodologies to achieve better quality hires, which can be measured through employee retention rates.
Employee retention rate is a measurable aspect of human resource management. It is among the key performance indicators within the recruitment process, which makes businesses to keep track of the recruitment process and apply the improvements out of the processed information through business intelligence.
Challenges in Global Recruitment
In addition to the growing need of quality hires to improve employee retention rates, there are challenges that businesses face. There was never a shortage of professionals, but the problem is, how would you know who will stand by your business for a long time. It is important that businesses will put emphasis on making work as mutually beneficial as possible, to establish a relationship with employees. Another important aspect to consider is the cost, which in reality cannot be substantially assessed using a single metric indicator. Nonetheless, here are the top challenges that recruiting agencies and businesses alike experience this year, according to LinkedIn.
- The lack of Information Technology (IT) professionals with specialization
Yes, the IT industry is just one sector, but almost all industries are utilizing the skill and specialization to drive itself in sustaining with the pace of technology advancements. The lack is correlated with the increasing demand, not just in volume, but in the quality of hire in terms of innovation and development. The lack also pertains to the handling of unique IT needs, which continue to grow in numbers due to the ever-changing market shifts.
On one perspective, though, the same idea goes to some skilled-workers like engineers, who lack the training for more advanced technology-based tools that the businesses are utilizing. Some specialized software needs expertise or training while there may be professionals who fit the bill in terms of other qualifications, but unfortunately not on a specific software skill. The answer here is for companies to provide free trainings, but has more challenges like additional cost for training and for not being able to fully utilize the employee right away because he or she needs to finish the training first.
- Skill set mismatch with specific qualifications and requirements
Human resource management comprises of a group of decision makers for the recruitment process. Normally for professionals, they got to be interviewed by different heads by hierarchy, including the HR manager, supervisor, department head and the VP for operations or the CEO concerned. Personality and technical skills have different assessment, which can influence the overall recruitment process depending on how one will perceive of it. Sometimes, going through different decision makers might not point to the best candidate to be chosen, which results to skill mismatch when a candidate cannot perform as required because of the actual skills and work personality that doesn’t match.
- Contractuals on the rise
Since especially skilled-workers are hard to find these days, the cost to get contractual employees is increasing in demand. According to an NFIB’s 2016 Small Business Trends, 15% of businesses are finding hard to look for qualified candidates to fill their open positions. On the other hand, 30% of businesses said that open positions cannot be filled called “collateral damage”affect the costs for special projects, because businesses have to haggle with clients to shell a little more to compensate for this overhead.
With this trend with contractors, this attracts more project-based individuals, which in turn will impact how businesses can get permanent employees.
- Administrative work challenges
The possibility of additional strain from administrative work conflicts with the existing paperless trends. But the fact that human resource management cannot go fully paperless, contracts and memos which should be simultaneously be in offline and online forms. This is brought about by the new requirements for recruits and to conduct training’s.
A staffing software is capable of addressing most of the tedious administrative work; making it an effective complementary tool for your recruiting initiatives.
- Demanding candidates
Applicants, nowadays, become more selective on companies they look for, and it is a different story on how long will they stay in a particular circumstance. According to Glass Door recruitment survey in 2014, the top 5 considerations (most to least) of applicants when applying for a job,is the salary, growth opportunities, work and life balance, company location or accessibility, and company values. Recruitment campaigns are becoming more-marketing like, that recruiters find themselves doing ways in order to “win” the candidates they desire.
- Slow and painstaking process to hire
It is ironic that will all the technology based tools that businesses can utilize nowadays in order to see better progress with their tasks at hand, delays are inevitable, or somewhat permanent, part of our life. For modern recruiting efforts, the delays were experienced because of the more stringent qualifications for a certain position, that HR managers are finding hard time to look for the best match among the pool of talents applying.
Importance of Business Analytics in Tracking Recruiting Efforts
Business analytics enabled businesses to keep track of the recruiting efforts by turning Key Performance Indicators (KIPI) to measurable factors capable of rendering a more visual and comprehensive report on the performance of the recruitment campaigns, and as well as, in initially assessing the qualifications of applicants.
Modern recruiting tools are integrating business intelligence with its methods to derive more valuable information from all digital information from applicant profiles and even with online communication channels. This enables the business to make improvements with its deployed recruitment initiatives and efforts to uplift the company recruitment process and even the employee retention rate.
An applicant tracking software is a type of recruiting tool, wherein HR people tracks the applicant with its deployed online recruitment system. It is the best complement to a recruiting software.
A recruiting management software,or recruiting software caters the growing needs of the HR management in coping up with the changes and shifts of talent acquisition. It is important that businesses realize that the quality of their products and services is directly proportional to what it can deliver to its clients as well, therefore it is a must to put emphasis on getting the appropriate and qualified candidates to fill in the job. This makes modern recruitment become more complex, thus needing the benefits of technology based tools like efficiency, mobility, accessibility and intelligence.
The best recruiting software is able to manage a variety of processes included in the whole recruitment system, which includes performance evaluations and applicant tracking. To know more what tool will best fit with your budget, needs and preferences, check out CrowdReviews.com’s reviews of recruiting software.
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