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Future of work

talent mapping

Talent Mapping is Essential to Effective Recruiting

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Why It’s Important
Talent mapping is a helpful strategy for companies to use, to better align short and long term goals. By using talent mapping, companies assess, evaluate, and review their current staff, to better prepare for the future. This technique, charts individuals’ skills, and abilities, vets their performance and potential and matches them with workforce planning strategies to balance an organization’s talent and needs. Talent mapping can enable an organization to determine strategies for future hiring, including internal promotions, short- and long-term hiring needs, and development of existing talent to meet future staffing needs.
It is a proactive approach for employee planning, both in the short and long term.

Planning Ahead
By planning ahead, companies create a culture of security for employees as well as stakeholders. If plan A doesn’t pan out, then plan B might be the better choice. This gives employees and management a safety net, in regards to future options. As the quote says “if you don’t know where you are going, any path will get you there.” Having a plan better prepares everyone for special circumstances that may arise, creating a more secure stance towards problem-solving.

Important Goals and Input From Employees
Companies must communicate short and long term goals with employees. These goals include specific, measurable, attainable, relevant, and timely; or S.M.A.R.T goals. Employees need to know how to stay on track and achieve milestones, which increases motivation. Company goals should be realistic and attainable. To reinforce goals, companies must allow and give all employees a voice for input. Gaining employee input can increase the sense of ownership and satisfaction in their roles in the company

Short Term Employee Goals
Training staff in the short term requires knowing your staff’s strengths and areas for growth. It’s highly recommended to focus on their strengths and allow employee input, into areas for their training and how they would like to obtain their short term goals. Short term could be a week or a month but would focus on what goals he or she would like to accomplish during that time, and in what capacity the employer can offer assistance.

Short Term Company Goals
What are your company’s short term goals? Are there any special projects coming up? Where will your company’s needs be, in order to fill in any gaps for short term projects? Are you set up for success with short term projects? Where does your company need assistance or shifting of roles for any of these projects? This could be in regards to a new client. You will need a plan and employee assistance with any new projects.

Medium Term
Where do your employees see themselves in the medium term? What strengths and goals do they have or how do they want to learn and grow? Are you utilizing all of your talent accordingly? By discussing goals with employees, and mapping a plan, you can create a culture of growth. You can also assess any gaps that may arise. If employee A wants to learn more about accounting, and employee B wants to learn more about marketing, you may notice a gap, that they leave behind. Do you have employees who want to fill those gaps? You will need assistance in filling in those gaps; SourceMatch specializes in talent mapping and consulting.

Long Term
What are your company’s long term goals? What do you foresee in regards to upcoming projects in the next 6 months to a year or beyond? What do your stakeholders expect to see during that time? You will need to plan and to fill any gaps in jobs, either using current employees or recruiting new ones. Discussing long term goals with employees, better prepares your company for any future vacancies or promotions. With this discussion of personal and professional goals, you motivate employees and provide positive reinforcement to the company’s value system or culture. By having a company-wide discussion and allowing employee input, this will boost confidence and allow for employees and employers to stay continuously up to date with any corporate changes.

Finding the Gaps
To find the short and long term gaps, companies need to create or have a plan. You can reach out to consultants such as SourceMatch, to better assist in this process. We have refined the talent mapping approach, to better serve our clients. The benefits of this are many. Companies who utilize this plan find that they save money, time, and resources. When an employee changes a position or gets promoted, you will have a new spot to fill. This happens quite often and causes a disturbance in daily operations. You can decrease the impact this may have, by consulting with our staff for solutions.

Benefits
To find and fill in the gaps, we plan accordingly. Using talent mapping, we find and fill in the present and future open positions. By consulting with employees, companies can verify gaps using a map-based system, based on employee strengths and goals. This requires input from your staff and managers, as well as constant feedback and open communication. Some employees may discover they prefer a certain job duty over others or might be more skilled in one area vs. another.

Attainable Company Goals
Companies need to have and share attainable goals, with employees. Companies make goals with management and operations, but they should also create goals with entry-level employees as well. This allows for employee retention and motivates employees to achieve goals within the company as well as achieve their own personal and professional goals. By setting your company goals to be attainable, you inform and inspire your staff to stay on board.
This takes engaging your employees to help reach the company’s destination, where employees will take appropriate risks and act in the best interest of the organization. You will need to clearly define the company goals, measure those, and provide metrics that are relatable. For example, you can share goals for improving customer service or satisfaction, retention, response time, new product ideas, or allow time for improvement ideas that employees may have. You will also want to set your employees up for success, based on these goals. You will do this by providing clarity, appropriate resources, information, skills, motivation, and training. Managers will also need to give plenty of feedback and recognition. Things like this can get lost in the day to day workings, but if you acknowledge efforts, you will have a motivated employee. Take and listen to what your employees say, monitor it, and adhere to the organization’s values for performance. You can create a level of trust and support, which can guide and grow your company. Utilizing this style of engagement and talent mapping, will create a successful atmosphere and work culture, for your organization.

Conclusion
Today’s workplace is continuously changing. By utilizing and staying up to date with your talent map, your workplace can obtain goals, both professional and personal, to guide and prepare for the next steps.

Reach out to us to learn more.

Social media in recruitment

Social Media in Recruitment

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Social media in recruitment – a game-changer

A study from Jobvite, with 800 recruiters as participants, revealed that the majority of respondents (67 percent) said their biggest challenge in hiring is the lack of skilled, high-quality candidates.

“With more open jobs than people to fill them and the market at near full employment, recruiters are finding new ways to reach candidates where they are—whether that’s on Instagram or via text. They’re re-evaluating what success looks like, with quality hires and retention rates becoming a higher priority than time- and cost-per-hire.”, according to the same study.

This is when recruiters get creative using social media to reach out to candidates rather than traditional websites like job boards.
The most used channel for recruitment efforts is LinkedIn— with 77% taking advantage — followed by Facebook with (63%). However, the number decreased in the last few years: for example in 2017, 92% of recruiters have used LinkedIn, compared to this year.

What about Instagram? Its popularity with job seekers has caused an increased use among recruiters — now, a quarter of recruiters are investing in recruiting efforts on Instagram, especially millennial recruiters (35%) and those working at technology companies (63%) — double the number than in 2017.
Social media recruiting can save time and money by targeting people who are qualified for the position. Using social media when hiring, creates a better position to accommodate clients’ urgent requests.

Different generation needs

While the number of smartphones grows, mobile-optimized job adverts and career pages matter even more and become a factor when job seekers pursue an active search. Companies respond with digital marketing strategies, create content that is mobile-friendly, work with streamlined user experience, and shorten application processes, which all translates into extensive mobile-recruiting efforts.
A study from the Aberdeen Group showed that 73 percent of millennials (18-34 age group) found their last position through a social media platform.

  • To use social media when hiring, in an effective way, you can do the following:
  • Use industry-specific hashtags to help identify top talent in the field.
  • Involve employees in the recruitment process but make sure you have a corporate social media policy beforehand.
  • Use video content. Video content on social media gets 1200% more shares than text and image content, and 87% of mobile traffic will be video by 2021
  • Connect with the Right People. Keep your profiles industry-specific and establish connections with industry leaders, experts in the field and people who have a niche specialization. This requires personalized messages and a lot of time and effort; however, chances grow to connect with potentially employable, experienced professionals.

There is a better way to recruiting. Reach out to us to learn more!

technology improves the recruiting process

6 Ways Technology Improves the Recruiting Process

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Technology offers many helpful tools that recruiters can utilize. It can improve the recruiting process by making it more efficient, organized, and productive. Technology can also help recruiters stay up to date with the latest skills and trends in the recruiting world.

Helpful Websites for Sourcing

The many available websites that make recruiting more efficient give recruiters access to candidates and clients as well. LinkedIn offers a recruiting portal (fee) or free access for browsing current subscribers. Here, you can browse for potential candidates by searching for particular skills and education. You can also browse current job openings, and reach out to potential clients. Linkedin has become a great resource for employers to network with others and to help in their recruitment needs. The potential for LinkedIn — and other social networking sites — to play a major role in your employee recruiting strategy increases as more job seekers post their profiles each year.

Indeed and Glassdoor are some other helpful websites for recruiters. These sites are job boards where recruiters can access current job openings and potential candidates who are interested in a career change. By posting a job on these sites or researching candidates, recruiters improve efficiency and create awareness in the job market among candidates about their openings.

Indeed Resume hosts millions of resumes from job seekers across nearly any industry and location. Employers can quickly find candidates by entering a job title or skill and geographical area. You can narrow down results by criteria – such as years of experience, education level, and more. Also, by setting up a Resume Alert, you can receive daily emails with links to new resumes that match the criteria for the positions you’re looking to fill. (Recruiting Strategies)

Glassdoor has more than 64 Million monthly unique users looking for a job. Glassdoor claims “Using numerous customization options to create targeted search capabilities, you can reach candidates on and off-site by occupation, location (country, city, state) and on competitor pages. As well, you can support your diversity and inclusion initiatives with laser-like focused data.”

Assessment Software

By narrowing down skill sets, assessment software offers recruiters an avenue to improve candidate matching. Analyzing behavior, skills, and language assessments; allows recruiters to better match a candidate to a particular position. This saves time for recruiters, clients, and candidates. SourceMatch combines assessment software and candidate analysis for our clients. We develop 360-degree profiles for candidates that allow the Hiring Manager to have a deeper understanding of each candidate while saving them the time of having to browse or review hundreds of resumes.

Organization Software

There are quite a few ways to organize recruiting tasks and goals. Asana is a powerful tool for organizing your team’s workload as well as your own by projects, or simply individual tasks. You can assign tasks, deadlines, and comment on what needs to get accomplished in a very structured way that eliminates some of the conundrum of doing the same via email threads. Gmail is also a great tool to use for staying organized. You can set up reminders, invitations to meetings, and times that you will not be available for meetings. By far the ability to connect multiple software solutions creates the ability to integrate a clear workflow with specialized software for every step of the way.

Agave.com is a great option for recruiters. They offer free or low cost recruiting Customer Relationship Management software (CRM) or Applicant Tracking System (ATS), rich API support, nurture campaigns and follow-ups, transparent offers, detailed reports, scheduling, and candidate sourcing. Some of these features are automated saving time as well as keeping everyone in the process up to date with the status or action items.

Communication Software

Skype is a free tool to use for conferencing with teammates, clients, or candidates. You can stay connected to your team and update them with questions or answers, as needed. You can Skype to interview potential candidates for open roles, to see which one matches your clients’ needs. Customization can be added through a project or interest-based groups making it easy to unify specific topics/discussion as well as separate the top priority ones from non-urgent chats.

Zoom is also a popular option to use for conferencing. Zoom is popular for meetings, webinars, conferencing, and business IM. Some other popular options include Google Meet (conferencing app), Webex (web conferencing), Blue Jean (conferencing, online meetings), Join.me (conferencing, online meetings), or even Slack (team collaboration).

Intelligent and Automated Screening Software

Using AI to screen applicants is a powerful tool. AI can recognize keywords, skills, education, and background knowledge. Using this, AI “filters” potential candidates from the larger group of applicants. SourceMatch uses 360-degrees AI as well as holistic screening, to find the top talent.

Using AI to simplify and shorten the time it takes to process various sets of information can lead to significantly faster decision making. At SourceMatch, the speed on some of the automated stages of recruiting reduced lead time by 2-3 days. It starts with simple workflows that keep candidates updated as to where they are in the recruiting process, as well as to remind them via email and text messages of their next steps (i.e. provide additional information, take assessments, complete their application, etc.). This is especially helpful to keep candidates interested in a job they’ve applied for when they also have a job, and multiple other personal priorities The advanced workflow stages rely on Artificial Intelligence and Machine Learning to evaluate statements of interest and writing samples submitted by candidates.

Organizing Social Media Accounts

Buffer allows the user to create one post for multiple social media accounts. You can even set up the specific day and time to share the post. This is great for social media marketing and posting job openings.

Hootsuite also analyzes and executes social media data and marketing. You can pay for these services and choose the right plan for your needs.

In conclusion, technology improves the recruiting process in many ways and it helps recruiters be more efficient, productive, and organized. What are your top technology “go to’s” when it comes to recruiting?

skills gap

Skills gap is here. How to Address it?

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What is the “Skills Gap”?

The ‘skills gap’ is the phrase used to describe the difference between the skills that employers want, as shown by their job advertisements, and those that are available from professionals looking for a job. According to Glassdoor, the high needs jobs include: project manager, physician assistant, software engineer, marketing manager, nurse practitioner, business analyst, operations manager, occupational therapist, electrical engineer, and product manager.

The top reasons for the skills gap include: competition from other employers, candidates who do not have the needed experience, candidates who do not have the correct technical skills, low number of applicants, non-competitive benefits or salaries, and candidates who do not have the right soft skills (shrm.org).

To address the skills gap, companies will need both short and long term goals. There are many ways to help support business growth, while also addressing the skills gap seen within some sectors. To do this, businesses need to be prepared. SourceMatch helps businesses prepare for both the long and short term employee skills gap.

Long Term

Provide Career and Professional Growth

Companies can better prepare for the skills gap by providing career and professional growth options; to employees. Managers can set up discussions about opportunities for more education in high need areas, and learn from consulting companies such as SourceMatch, about the current skills trends. By doing this, you invest in your workforce and create career ladders for employees. SourceMatch stays up to date on the current high need skills, as well as how to educate your workforce in those areas.

Invest in Future Employees

Investing in future employees can mean a few things. Employers can reach out to high school students as well as college students, and share knowledge about your organization, industry and how they can best prepare to be a valuable professional. This will create an interest for students to possibly invest in the skills needed for your company. To do this, SourceMatch can help, by offering our consulting and recruiting services. Sharing knowledge of your company’s needs and wants, better prepares the future employees, as well as your company. Your company can get a better grasp of the future workforce as well.

Provide the Cost of Education

Companies are also offering to cover some or all of the cost of education for their employees. According to Forbes, Many companies like Starbucks, Walmart, Chipotle, and Disney offer tuition assistance for employees. This boosts employee retention and morale, as employees can “grow” with their company.

Short Term

Refer to Outsourcing

For immediate hiring needs, SourceMatch offers assistance to companies looking to fill their skills gap. We specialize in finding and retaining the right talent. Outsourcing recruiting, allows for an immediate request to be filled, as we do the legwork in regards to finding the right candidates for the open roles. Because we specialize in consulting and recruiting, your company is enabled to be efficient at using valuable resources and funds, as we use our validated Engaged Recruiting model to find and fill in those skill gaps.

Utilize Recruiting and Consulting Services

To utilize recruiting and consulting services, companies reach out for qualified support. SourceMatch specializes in filling the skills gap for companies. Using our services, companies save time and money training or retaining “high needs” positions. In the short term, companies who use our services, are able to fill in their skills gap. Recruiting and consulting companies can reach out to untapped sources of talent, that many companies are not even aware of.

The Evolution of Technology

How to Keep Up

The digital skills gap is costing the US economy roughly $1 trillion in lost productivity – Entrepreneur. To keep up in the new age of IT, companies can utilize recruiting organizations; to fill their skills gap. Because technology changes so quickly, the workforce can lag a bit behind. This makes it so valuable for companies to stay ahead of the gap. By planning and using SourceMatch’s consulting services, companies are better prepared for future IT skills gaps.

Training the Workforce to Evolve

Many companies also offer paid training and certificate courses, for employees to learn and grow. This is a faster-paced solution to that individual skill gap. By doing this, employers and employees can keep up with the current high needs skills.

Faster Learning Opportunities (Rather Than Traditional 4 Year Degrees)

Some of the top-paying certificates take less time to earn than a traditional 4-year degree. These certificates may need a certain level of experience or hours, though. Some top paying certificates include: Google Cloud Architect, PMP, ScrumMaster, AWS Architect and Developer, MCSE, ITIL, CISM, CRISC, CISSP, CEH, Citrix Associate, CompTIA, and Cisco (CCNP). By gaining a base level of knowledge and then gaining a certificate, employees and employers can bridge both blue-collar and white-collar skills gaps.

The Case for Creativity in the Workplace

To keep up with the skills gap, many companies are turning to creative time in the workplace. This allows employees to “think and plan” and develop solutions to current skills needs. By allowing creativity in the early years of employment, professionals gain a way to be “forward thinkers” allowing them to innovate and create solutions for the future. Some companies also rotate managers, to allow for new, fresh ideas in the workplace. By switching things up, companies can evolve and entertain the skills gap, rather than be forced into it.

By being prepared for both the long and short term, future and present skills gap, companies can save time and money. Using creativity, planning, outsourcing, and education, companies can overcome the skills gap and create a veritable, efficient workforce.

Reach out to us to see how we can bridge the skill gap together.

outsourcing recruitment

Outsourcing Recruitment and its Benefits

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The Benefits of Outsourcing Recruitment

There are many benefits for companies that decide to outsource recruitment services. As companies have various talents and services, they may need support in areas that could be lacking. For example, an IT company may outsource their hiring needs to a Recruiting Company, such as SourceMatch. This allows the IT company to focus on its service, while Soucematch, focuses on supporting the company’s needs to hire the right talent. Or a retail company new to online ordering may need to outsource delivery options, web support, and web design services. When it comes to outsourcing recruitment, there are many other benefits to it. These include: experience level in regards to services, saving time, reducing costs, employment branding, sourcing and retaining talent, and the various functions required as time and demands change. However, more than anything else, engaging in a recruitment partnership enables you to have access to processes, resources and validated best practices that have taken significant efforts to reach a level of expertise that is recognized in the market.

Experience Level

Outsourcing is one way for a company to access a veritable wealth of expertise in an unfamiliar subject area. Many established companies, startups, and even reorganized companies utilize the resources of outsourcing recruitment. They realize that allowing fellow professionals to assist in an unfamiliar area is vital to the growth of the company. The experience level of the company in regards to the level of need is a factor in deciding which recruiting company to use. SourceMatch has over 25 years of professional recruiting experience, and has coined the term “Engaged Recruiting”. We assist established companies, start-ups, or those in need of reorganization. SourceMatch utilizes state-of-the-art technologies, metrics, recruiting, consulting, holistic assessments, and especially a “stay human” approach to improve our clients’ organizations, coming in stark contrast to the traditional recruitment agencies or veritable “resume shops.”

Emphasis on Return-on-Investment (ROI)

Saving money is very important to our clients, and what is even more important is that we increase the effectiveness by treating each hiring decision as an investment decision. Businesses that save money can focus on expansion, employee raises, and boosting morale. SourceMatch saves its clients money, time, and energy that would otherwise be expended finding and reviewing hundreds of resumes, filling back position because a candidate didn’t make it through the first months of employment, or simply employees that should not have been hired in the first place.
It’s our observation that it costs a company between 2 to 6 times a particular job’s annual salary to replace employees due to turnover with factors such as: time invested in searching, interviewing, and onboarding a new hire (across all involved stakeholders), lack of productivity, or cost of lost opportunity. SourceMatch stays ahead of the market trends to avoid the risks that such a hiring decision can bring, allowing our clients to focus on their particular business, rather than spending more time and money learning a new skill.

Access Wisely Combined Recruiting Resources

At SourceMatch, we thrive at searching for and retaining the top talent for our clients. We have access to a plethora of recruiting tools and assessments that we carefully choose and combine into individual solutions for each organization’s needs. These assessments include behavior profiles, skills, and language knowledge. We adjust assessments based on historical data of successful hires and ineffective hiring decisions. 

Tap Into a Well of Validated Expertise

As companies decide to outsource recruitment services, they discover that using a specialist delivers what is needed to excel at hiring. Consulting or recruiting services offer organizations the benefit of having an outside approach to problem-solving. SourceMatch has years of experience in consulting and providing recruitment services with which to serve our clients. Their growth and confidence in the employees demonstrate how beneficial outsourcing recruitment can be. With a constant concern for improvement, a partner such as SourceMatch will persist in updating, upgrading and innovating on the client organization’s behalf. It’s part of our core DNA knowing that change is also constant across the global talent demand and availability.

Top Talent Will only Respond to Top Recruitment Practices

Many companies provide a specific service: web design, software programming, and IT services are just a few examples. Finding and retaining top talent, not just any talent is a necessity for those businesses that want to thrive. Outsourcing recruitment allows companies to focus on their organization, while SourceMatch focuses on finding the best fit for their open positions. While most recruiting agencies rely on a “hit-and-run” approach, SourceMatch invests time with each of its clients to truly understand their vision, values, and objectives. By doing so, it allows the hiring managers to dive deep into what truly motivated them to create a job opening in the first place, which most often ties into the organizational culture and growth strategy. This approach is essential to attract top talent, who are especially interested in how they can personally contribute to a company’s innovation and long-term plans.

Retention Starts with Intelligent Recruiting

To retain talent, companies need to know the workforce. Many companies are skilled in certain areas but do not fully understand what is going on in the current workforce. At SourceMatch, we specifically study and utilize how data and trends affect the talent pool, so that our clients have actionable market intelligence. Although retention is the subject of many post-hire efforts, it is a key component to consider when searching for and interviewing candidates. Painting a clear picture of an organization’s culture, vision, mission, values and especially the unwritten expectations before prospective candidates is one of the best ways to avoid a misalignment of expectations once hired. That misalignment is what causes the first slips of motivation for new hires when the true faces of the manager, their new team and sometimes job responsibilities creep in after a few months on the job.

Flexibility is Key in an Ultra-Competitive Global Market

By consulting with SourceMatch, companies that have discovered new growth opportunities to learn can save costs during a restructure or reorganization. Having an outside view can also allow for new insights, new plans for areas of growth and effectiveness of investments. For example, department store retailers that used outside consultants were given plans and ideas for ways to change with the times. They successfully maneuvered through the online market, and have now expanded their profit margins. Other stores did not reach out for support, and we now see them closing their doors.

Candidates Can have an Amazing Recruiting Experience

That’s applicable whether you hire them or not. Allowing a recruiting partner to come up with a fresh perspective opens up more benefits for not only your organization but your prospective candidates as well. From an outsider’s perspective, companies can learn candidate experience analysis and improvement practices. Is your organization candidate-oriented and willing to change in a global market where the Skills Gap affects more and more companies?
Have you had a consultation with SourceMatch to check your candidate focus and areas for growth? We would be happy to assist in helping your company to reach higher profits and be ultra-competitive in a global economy driven by one key resource: the best talent.

The benefit of Outsourcing Recruiting Services

As you can see, there are many benefits for an organization that chooses to outsource recruiting. Experience, reduction in costs, access to resources, branding, sourcing and retaining top talent, reorganizing, and improving functions are just some of the benefits you can gain when SourceMatch provides your recruiting outsourcing services.

recruiting automation

Recruiting Automation

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Recruiting automation – technology at its finest

With the addition of advanced technologies like machine learning, advanced programming, and distributed data analytics, recruiters are ready to broadcast job openings to more places. We see the development of technologies that allows us to provide a platform for candidates to engage with companies and their recruiting processes.

That’s why it’s important for recruiting professionals to adopt cutting edge technology so that they won’t have to resort to outdated technology when learning how to use it.

Technology will play a larger role in our companies hiring process this year, and here a few reasons why:
Since last year, passive recruiting became the top priority source in every hiring organization (35% up compared to last year). In fact, to save time, over 42% of recruiters are turning to intelligent tools that process all data info for them and the other 46% don’t have enough data to make smarter decisions in their hiring process.
On average, recruiters can actively source for 64% of the open roles in their organization. Hence, why we see companies seek out additional recruiters to help out with that growing number of unfilled/hard to fill positions. For smaller businesses, recruiters are currently seeking candidates with more experience and with a greater level of skill than their average employee. However, 20% are actively sourcing for all open roles in their organization.

The preferred outreach method

Since 2018, emails continue to be the preferred method to reach out to candidates (up to 38%, followed by phone/text 33%) and LinkedIn inMails (13%) had a significant decrease since last year.

Your employer brand is influenced by diversity in the workplace, which is not only a value but a core factor that positively contributes to the quality of work if proper attention is given to it. The number of opportunities for hiring talent is growing with a staggering 80% of new hires done to improve diversity in the workplace. But even more compelling, a growing number of organizations are also leveraging hiring automation, finding solutions to the hiring pipeline needs for diversity, inclusion and equity training (AOC), and the integration of workforce management (WFM).

Where is recruiting automation most useful?

In order to stay competitive, recruiters must dedicate an increasing amount of their day to sourcing. This year, 22% of talent organizations will increase their spend in recruiting automation tools (up 30% YoY), creating better and more relevant results.
To ensure there’s a fit between jobs and candidates, recruiters need to understand how automation works, why it will impact their jobs and how to adapt to the changing landscape of data collection and decision-making processes. As for some job seekers, automation is a straight path to a less-stressful process after using grueling application processes and assessments. For others, automation for long-term planning means a fresh start.

Talk to SourceMatch to find out how we leverage technology to make your recruiting process better, faster and easier!

skills gap

10 Skills gap Statistics – Jobs are here but People are not

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We gathered 10 recruiting statistics to shed some light on the skills gap reality:

1. 80% of Americans agree there is a skills gap, and 35% say it affects them personally
2. Unfilled jobs cost the United States’ economy $160 billion a year
3. 81% of employers said prospective employees lack critical thinking and analytical reasoning skills
4. 75% of employers think graduates lack adequate innovation and diversity skills
5. 90 percent of hiring managers stated it’s difficult to find and hire the right tech talent and 83 percent said the shortage of tech talent is slowing company revenue growth
6. Job seekers’ resumes only match 59 percent of hard skills and 62 percent of soft skills in job ads
7. White-collar job seekers match hard skills 184 percent better and soft skills 42 percent better than blue-collar workers
8. 72% of respondents think skills needed for their jobs will change, and 73% say they’ve already had to gain additional skills to do their jobs
9. 80% of those who said the skills for their jobs will change also said they’d quit if their employers didn’t offer the requisite training
10. 41% of employers are set to focus their reskilling provision on high-performing employees while a much smaller proportion of 33% stated that they would prioritize at-risk employees in roles expected to be most affected by technological disruption. In other words, those most in need of reskilling and upskilling are least likely to receive such training.

How do YOU bridge the skills gaps? Let us help and find the right solutions for you.

future of jobs across regions

Future of jobs Across Regions

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The future of jobs across industries and global regions is fascinating. As the Fourth Industrial Revolution unfolds, we see both common and differentiated characteristics across countries and regions of the world.

What are the factors determining job location decisions through 2022 on overall industries?
The Future of Jobs report from WEF cites the availability of skilled local talent is the foremost consideration of the survey’s respondents, with 74% providing this factor. On the second place comes in the labor cost followed by production cost, and with less importance factors such as the flexibility of local labor laws, industry agglomeration effects or proximity of raw materials.

Region-specific roles
Expected to be in demand: Financial and Investment Advisers in East Asia and the Pacific and Western Europe; Information Security Analysts in Eastern Europe; Assembly and Factory Workers in Latin America and the Caribbean, Middle East and North Africa, South Asia and Sub-Saharan Africa; and Electrotechnology Engineers in North America.

The link between labor costs, skills, and investment in automation technologies
According to one recent study, manufacturing added-value per dollar of labor cost in 1997 was twice as high in Mexico than in the United States. By 2013, this gap had shrunk to less than 15%.
It’s expected that simultaneous investment in automation technology and labor augmentation in advanced economies continues through 2022. As a result, shifting the comparative advantage in labor costs will affect the industrial structure of economies such as Vietnam through re-shoring of work tasks in sectors such as textiles, apparel, footwear or electronics assembly.
This is why we see emerging economies increasingly shifting toward a domestic consumption-driven growth model, with rising local middle-classes generating increased demand for goods and services traditionally intended for export.

How optimistic are you about finding local talent in your branch areas in the future?
At SourceMatch, we’ve had the privilege to work with many of our clients who wanted to expand into new countries. We’d love to hear about your plans! Reach out to us at gettoknowus@sourcematch.team.

industry

Future of jobs Across Industries

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The impact on each industry that invests in new technologies is determined by the task structure of each sector and whether industry leaders intend to automate or augment specific tasks.
Robotic technology is set to be adopted by 23% to 37% of the companies surveyed, with variations by industry.

Financial Services & Investors industry are most likely to signal the planned adoption of humanoid robots in the period up to 2022, also promise to be an early adopter of distributed ledger technologies (73% of respondents expect their enterprise to adopt its use)
Machine learning is expected to be adopted across a range of industries, including banking and insurance, in the medical field, across the energy sector, and in the consumer sector, where it may enhance the industry’s ability to model demand.

What is the prediction for the Energy and Consumer sectors? The expectation is that physical and manual work activities will be replaced. If today 38% and 30% of such tasks in these two sectors are performed by machines and algorithms, by 2022, those rates are expected to be 56% and 50% respectively.
Today 25% of labor in the Information & Communications Technology industry is performed by machines and algorithms, while an increase to 46% is projected for 2022.

What about the skills gap?
According to respondents to the Future of Jobs Survey, more than 55% of workers across the Aviation, Travel & Tourism; Financial Services & Investors; Chemistry, Advanced Materials & Biotechnology; and Global Health & Healthcare sectors will need some reskilling.
All industries expect sizable skills gaps, with that at least 50% of their workforce requiring training to reskill or upskill.

How do you plan to bridge the gaps?
At SourceMatch, we work with our clients to look at how candidates fair in their personal development objectives, openness to learning new technologies and adapting to new market conditions.

flexibility

Flexibility in the Workplace as a Means of Attracting the best Talent

By | Blog, Future of work | No Comments

In recruiting, it is important to keep up to date with the demands of the workforce, as well as informing your clients about workforce changes that can impact their organization. Not only just recruiters, we are also the “go-between”. We are responsible for creating that bridge of information to share between candidates and employers; our goal is to keep both of them successful and “in the know”.

To attract the best talent, we take into account the generational needs and make sure that the most up to date information is communicated throughout the recruiting team. Things like what does the current workforce look like, what is the best way to communicate with both clients and candidates, and how to incorporate a work culture that spans all 5 generations in the workforce.

Each generation has a unique skill set, as well as unique needs in the work realm. The 5 generations that you may see include Traditionalists, Baby Boomers, Generation X, Millennials, and Generation Z.

Understanding the Workforce

Traditionalists – this generation was born between 1928 and 1945, you don’t see many of them in the workplace. However, they still make up around three percent of the workforce.
Baby Boomers – were born between 1946 and 1964, this group is also referred to as the “me” generation. They’re predominately in their 40s and 50s and are well-established in their careers.
Gen X – Generation X has around 44 to 50 million Americans who were born between 1965 and 1980. They’re smaller than the previous and succeeding generations, but they’re often credited for bringing work-life balance. This is because they saw first hand how their hardworking parents dedicated so much time to work and not enough to family. Members of the generation are in their 30’s and 40’s and spent a lot of time alone as children. This created an entrepreneurial spirit with them. In fact, Gen Xers make up the highest percentage of startup founders at 55 percent. Even if they’re not starting their own businesses, Gen Xers prefer to work independently with minimal supervision. They also value opportunities to grow and make choices, as well as having relationships with mentors. They also believe that promotions should be based on competence and not by rank, age, or seniority. Gen Xers can be motivated by flexible schedules, benefits like telecommuting, recognition from the boss, and bonuses, stock, and gift cards as monetary rewards.
Millennials – born after 1980, this tech-savvy generation is currently the largest age group in the country. They’re in their 20’s and are beginning to come into their own in the workforce. They’re the fastest growing segment of today’s workforce. That’s not to say that you can’t motivate this generation because you can by offering skills training, mentoring, feedback. Culture is also extremely important for Millennials. They want to work in an environment where they can collaborate with others. Flexible schedules, time off, and embracing the latest technology to communicate are also important for Gen Y. Millennials also thrive when there’s structure, stability, continued learning opportunities, and immediate feedback. If you do offer monetary rewards, they prefer stock options.
Generation Z – This generation is right on the heels of Millennials. And, they’re starting to enter the workplace. Even more interesting, they make-up one-quarter of America’s population, making this generation larger than baby boomers or Millennials. This generation is motivated by social rewards, mentorship, and constant feedback. They also want to do meaningful work and be given responsibility. Like their predecessors, they also demand flexible schedules.

Flexibility and Work-Life Balance

The main recurring pattern of these generations is a work-life balance along with a flexible schedule. But what does that mean?
Flexibility in the workplace along with work-life balance, span across the generations. But what does flexibility look like? According to candidates, flexibility is the ability to have time for work, while also having an employer who allows for life events. Let’s say a family emergency arises, employees want to know that they have security in a job, while also being able to be a contributing family member. They want to know that their family life will not suffer, that there is a realistic expectation in regards to work-life balance. Work is important, but family and relationships are also very important. Another example would be commuting to work. In many cities, traffic jams can cause much time to be wasted. If an employer is flexible, the employee could have the option to work from home, telecommute, or to arrive at a time that avoids heavy traffic. This allows for less stress on the part of the employee and the opportunity to build trust as an employer. Here’s an example of what it could look like:

Of course, this is going to look very different for each individual. If any portion seems to be taking more time from another, it could lead to burnout and resentment. As an employer, you want professionals to feel accepted in their role, along with respecting how valuable their time is. SourceMatch understands how important top talent is to your organization. That is why we keep up to date with the demands in the labor market, communicate openly with our clients and assist them in deciding on ways to meet them.

Many companies now offer competitive work-life balance options. Some companies offer flexible schedules, child care, telecommuting, gym access, cafeteria access, paid breaks, wellness programs, cash incentives, and even college tuition reimbursement. Professionals have options now. With a booming economy, we need to attract and keep that talent. Utilizing a flexible schedule and work-life balance in accordance with acceptable wages, has been shown to attract and keep professionals engaged and not worried about burnout and similar effects.

Have you noticed the shift towards more work-life balance? In what ways does this affect your recruiting and company values? Us at SourceMatch are here to match your work culture with the current workforce. Reach out to us!