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Recruiting

Measure the Return on Investment in Recruitment

How to Measure Return on Investment in Recruitment?

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How do we measure the Return on Investment in recruitment?

“It’s important to understand what the “gain” really is and evaluate it across several quantitative and qualitative measures” – Deloitte

If you want to measure the Return on Investment in recruitment, there are a few key metrics that you should consider: time to fill, time to hire, quality of hire, cost of hire, and turnover rate.

1. Time to fill

The time to fill with the time to hire might sound the same but they are 2 different metrics and should be treated separately.
While the time to fill tells you how fast your hiring process is moving, the time to hire tells you how quickly you identify the best candidate.

How to calculate the time to fill?

The time to fill represents the total number of days you need to fill a position from creating a job opening to hiring the new employee.

2. Time to hire

Workable has come up with a formula to calculate the time to hire:

Time to hire = Day candidate accepted the offer – Day candidate entered the pipeline

Statistics say that 57% of job seekers lose interest in a job if the hiring process is lengthy. That means that you can lose great candidates if your team isn’t fast enough.

3. Quality of hire

The quality of hire measures the value that new hire brings to your organization and according to LinkedIn, 50% of companies consider performance reviews (or just performance in general) when measuring the quality of hire.

So how do we measure it?

Quality of Hire (%) = (Indicator % + Indicator %) / Number of Indicators

Example:
Quality of Hire (%) = (Job Performance + Ramp-up Time + Engagement + Cultural Fit) / 4

(Source: Harver)

4. Cost of hire

The cost of hire is not something to rely on taken alone. It doesn’t say anything about the quality of hire, only the possible cost of your recruitment efforts: advertising fees, recruiter pay, and benefits, relocation costs, recruiting agency fees, etc.

The formula for the Cost Per Hire:

CPH = (Total internal + total external recruiting costs) / total number of hires in a specific time frame

5. Turnover rate

Most companies use the annual rate calculation to find out the turnover rate, which is the following:

Annual turnover Rate % = Number of employees who left / [(Beginning + ending number of employees) / 2] x 100
Who, when, and why do they leave? – are the questions you should ask to paint a useful picture and analyze your turnover rate.

Why is it important to measure these metrics? Just answer this question: How can you improve something you cannot measure?

Reach out to us learn more.

Recruitment Process Outsourcing

Recruitment Process Outsourcing (RPO) – a Deeper Understanding

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What is Recruitment Process Outsourcing (RPO)?

Have you heard about the latest way to find the top talent for your company? Recruitment Process Outsourcing allows companies to effectively reach the top and most appropriate candidates for job openings. RPO is a form of business process outsourcing where an employer transfers all or part of its recruitment processes to an external provider. RPO, as it’s called, channels many avenues to measure and appropriately reach the right candidates. By having a set flow, or process, companies utilize the RPO approach and maximize all avenues for candidate searches and matches. RPO starts with a recruiting company, such as SourceMatch, providing a service to a client. SourceMatch then applies a step by step process for hiring and filling any workforce gaps. We start with an ATS (applicant tracking system), then reach out and advertise as needed, carefully target suitable candidates that need to be identified, then schedule interviews, assess skills and behavior matches, select the top candidates that fit the hiring needs, check background and credentials, then you hire the right candidate for your onboarding and orientation!

When does it make sense for a company to outsource their recruitment? What are the advantages of RPO?

It makes sense for a company to utilize Recruitment Process Outsourcing (RPO). Recruitment Process Outsourcing (RPO) is a good fit for companies that find themselves in a hiring bind. Has your company found itself in any of these situations… an immediate-need hire? A reorganization in the company? Customer complaints? Internal restructures? Reduction in costs? or large scale hiring needs? If you answered yes to any of these, RPO would make sense for your company and fulfill those requirements. Does your company have high turnover? Finding talent nowadays has become increasingly difficult and organizations have trouble identifying key personnel for their growth. Have you had similar challenges for any of your positions? We’d be glad to speak with you about how we can solve these challenges working closely with your team.

How is RPO different from traditional recruiting?

Recruitment Process Outsourcing (RPO) is different from traditional recruiting just as a partner is different from a vendor. Traditional recruiting consists of keyword searches, reading resumes, and skills, then handing over the next steps to the hiring managers. RPO is more concise, more targeted, and will allow the team at SourceMatch to act as an extension of your own, as we have a vested interest in achieving your recruiting goals. RPO allows a professional to effectively handle and fully manage the most practical and effective hiring steps. RPO concisely follows a flow or process and fully oversees the candidate hiring steps from beginning to end. We take from our experience of more than 25 years of international recruiting across industries, sectors, and organizations. SourceMatch will take on all and any of the obstacles that your company may face in regards to hiring barriers while working closely with you to develop a relevant pool of professionals.

What does the outsourcing process look like?

Recruitment Process Outsourcing (RPO) begins with the definition of your exact recruiting need. In some cases, organizations might have a challenge with finding candidates, while others might have too many on their hands that aren’t suitable. With a clear objective, we build a service that complements the client’s own resources and efforts. Any of the components of our RPO solution have analytics at their core. This provides our clients’ team with transparency to understand key performance metrics at any stage of the process. While having in place clear processes and goals, we know that the market isn’t static. To address changes in demand and complexity, SourceMatch has the ability to scale allocated resources so that our teams’ efforts can address the client’s needs proportionately. Beyond the technology that enables our Engaged Recruiting RPO, our teams have a strong emphasis on staying human with benefits to both client stakeholders and candidates. Software and processes can easily lead to a transactional approach, with direct negative consequences on the quality of the recruiting process. At the end of the day, however, candidates and hiring managers alike are people with aspirations and expectations. There is much more covered by our process that would be detailed in a Statement of Work as soon as we define this with your team.

How do you outsource your recruitment process to make it more efficient?

Recruitment Process Outsourcing (RPO) makes your company’s internal functions more efficient in many ways. RPO can offer benefits such as improved hiring time, increased quality of candidates, and the provision of verifiable metrics for the recruiting process. In today’s competitive marketplace, these factors can give businesses a significant competitive edge. Making the recruitment process even more efficient, RPO gives overburdened companies an effective outlet for filling job vacancies. By allowing SourceMatch to be your RPO partner, you free up time and resources that your company may use for internal functions and management stability. At the same time, whenever you experience peaks in demand for hiring, we devise a plan to temporarily increase the number of SourceMatch specialists working with your core RPO team.

The SourceMatch Engaged Recruiting model is the upgraded RPO of today’s dynamic market

SourceMatch’s Engaged Recruiting model will fit your hiring needs. We’ve looked at the traditional RPO model and gave it an upgrade, with the desire to constantly find valuable candidates that meet and exceed our clients’ expectations, rather than rely on volume recruiting. Whenever a customer decides to use our Engaged Recruiting RPO mode, we start with a conversation about your organization. We first discuss your needs to clearly define what is it that you need to succeed. We also map your company’s work culture and your open positions’ requirements. SourceMatch then incorporates that information in our talent mapping process, targeting certain areas and a specific number of professionals that meet or exceed requirements. We do this by differentiating between active and passive candidates using our unique tools and an extensive network of professional relationships. As for candidates, we start with a simple yet powerful question as we further want to identify whether they are suitable or not: “What are the next logical steps in your career?” Too many times recruiters have treated candidates as commodities, to the detriment of everyone involved in the recruiting process.
If we see there’s a correlation between what they’re aspiring toward and want for their career, then we continue to determine their aptitudes, reliability, cultural proximity, experience, and behavioral traits. Last but not least, one of the key traits that make the difference in the success of a professional is Drive. Will they drive themselves, others, and the company toward new heights? Candidates then complete a custom set of assessments since we want to provide you with an additional layer of information about who the candidate is beyond the resume. We present our top candidates to you after we have fully vetted the applicants. We also help with job offer design and delivery.

Engaged recruiting is about having everyone engaged at every step: defining the talent you need, finding top suitable candidates, vetting them, determining the select ones that stand out, and eventually working with you to onboard the professional that can make a difference. Throughout this process, we involve you with relevant communication via email, status briefings, and data analytics pertinent for effective decision making.

Some advantages of RPO include reduced costs, reduced turnover, reduced internal strain, healthier work culture, happier staff, increased productivity, better branding, greater access to resources, and improving internal functions.

Reach out to us for a quick discussion to find out how SourceMatch can utilize RPO to suit your needs!

Attract top Talent in 2020 with These 6 key Points

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How do you attract top talent in 2020 when the competition is fierce than ever? Here’s how.

1. Post a clear job description and only in places that matter. Make sure you hit the right spots.

A clear job description will not only ensure you deliver the right message to the right people but will also allow you to use time in an efficient manner. Make sure you post it where your targeted audience is.

2. Include a video in your job advertising.

Job posts accompanied by a recruiting video see a 36% increase in applications.
Video content is a growing trend as when given the choice, 72% of people say they would choose video over text content to learn about a product or service – according to statistics.

3. Build a strong employer brand.

69% of candidates are likely to apply to a job if the employer manages its brand.
Employer branding is no longer a choice. Employer branding is defined by the company’s reputation as an employer and that exists, whether you actively pursue it or not. You take care of your employees and your employees take care of you – in other words, they talk about how great is the place they work at and do the marketing part for you.

4. Use storytelling

Don’t underestimate the power and importance of storytelling in the recruitment process. You will be surprised to see how much good it does, telling possible candidates who you are and what you have to offer. People tend to make a connection between what they hear in the story with a person, turn it into a personal experience.

5. Take care of your talent pool – a gold mine

Your own database should be the first place to start looking for talent. Here you find people you’ve already looked at or even spoke with in the past. It will save you time and help you become more efficient if you pro-actively build a talent pool!

6. Shorten the hiring process

Who likes a lengthy process? No one. According to Career Builder, when applying for a job, more than half of applicants (55 percent) will give up and move on if they haven’t heard from an employer within two weeks of applying. If YOU won’t hire them NOW, other companies will.

Recruiting comes with challenges, but having a clear direction, a good strategy in place, and the right recruiting model, can help you achieve growth. Reach out to us as we can walk you through our Engaged Recruiting model and demonstrate why it brings results unlike the traditional one.

tech recruitment challenges

5 most Common tech Recruitment Challenges

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Being a tech recruiter is no easy feat. In a market that’s driven by professionals, organizations that have the best tech talent will win in the market. What are the 5 most common tech recruitment challenges?

1. Skills gap

According to a new McKinsey Global Survey on future workforce needs, nearly nine in ten executives and managers say their organizations either face skill gaps already or expect gaps to develop within the next five years. The greatest need appears to be in data analytics stated by 43% of respondents, followed by IT management and executive management by 26% of respondents.

2. Tech talent hard to reach

With so many offers on the table, tech professionals get the steering wheel. Recruiters find it hard to get in touch with them as research shows that more than 70% are passive candidates and throwing a job ad won’t make them interested in an offer. Here, a resourcing strategy can make a difference, by reaching out to an outsourcing partner like SourceMatch.

3. Offers declined

Why would candidates reject your offer? Some would say that it’s hard to even reach the offering stage in the recruiting process. Candidates are not interested in changing roles or having a conversation with a recruiter. And with those that do show some interest, it is still difficult for recruiters to keep their attention until to the point of an offer. Som candidates use offers to negotiate with their current employer, or just to get a sense of their worth in the market. That is why organizations have to go beyond competitive pay wages and be more creative about the perks they offer.

4. Buyer’s remorse from the new hire

Without having all cards on the table when they are hired, candidates might have surprises when they get to truly know your organizational culture. Whenever expectations aren’t clarified prior to hiring, new employees will feel they’ve been sold on something that’s only partially true. That translates into frustration, low productivity and a new hire who’s already looking for a different job.

5. Tech recruiters don’t have a strong understanding of the job

One of the most challenging aspects when hiring tech talent is the vagueness of positions. According to research, technical hiring is one of the biggest challenges for recruiters. Understanding a job takes much more than a Job Description, years of experience and checkboxes for every skill. How would a tech recruiter be able to find the best candidates when they don’t know what the hiring manager is looking for in a candidate beyond their resume?

What other challenges do you encounter in hiring tech professionals? Let us know by leaving a comment below.

qualified candidates

5 tips for Generating Qualified Candidates

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We’ve heard so many hiring managers complain that it’s hard to find qualified candidates. What is the right approach when looking for the right people with the right skill sets? What are the sources that generate qualified candidates?

1. Nurture your ATS

Your database should be the first place to start the search when looking for talent. Remember, here you find people already interested to work within your team. Nourish your talent pool as this is a true gold mine.

2. Search wisely for relevant terms

When looking for candidates, make the search more personalized and keywords focused. How does that work exactly? Focus on using words that describe the activities from the JD (job description).

3. Use social recruiting and the right tools for talent sourcing

Work smarter, not just harder. There are many technology solutions to find and attract qualified candidates, including social and mobile sourcing tools. Websites like Glassdoor can also be helpful, giving prospects a sense of transparency regarding the workplace, employee reviews of the company, compensation, culture, etc.

4. Improve your employer brand

Employer branding matters more than ever. Statistics say that when deciding on where to apply for a job, 84% of job seekers say the reputation of a company as an employer is important. On the same note and emphasizing the importance of nurturing your employer brand, LinkedIn agrees that 80% of talent acquisition managers believe that employer branding has a significant impact on the ability to hire great talent.

5. Personalized communication

We’ve seen over the years that staying human is what makes the difference. Treat candidates like people, and they’ll be more open to what you have to offer. Starting with the first message, show genuine care for their next step in their career and personalize the message that gets in the inbox. For instance, you can write a personal note saying what you’ve noticed on their social media profile something that stood up – related to the job.

Considering all the tips above will make your work pay off in a short time. Now that you have the final details set up to look for top talent, take a look at the article we have on the 7 Habits of Successful Recruiters, to get in front of your competition.

Hiring trends for 2020

5 Hiring Trends for 2020

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Here’s a look at the hiring trends for 2020. These will help talent acquisition leaders shape their next moves and build better hiring strategies.

1. Companies increasingly use AI-powered tools & HR automation
Artificial Intelligence comes as a very practical solution to help identify and hire the best talent with apps like automated meeting schedulers, customer support chatbots, that make recruiters more productive.
According to Career Builder, 93 percent of employers that have automated parts of their talent acquisition and management processes, say the switch has saved them time and increased efficiency, and 67 percent say they’ve saved money and resources.

2. Employer branding continues to be vital in 2020
75% of job seekers research a company’s reputation and employer brand before applying, according to LinkedIn research.
Companies will research how their employees feel about the jobs they’re in, the thoughts they have on the employers, their work, so they can think long term and build a stronger employer branding.

3. Employers will further prioritize diversity and inclusion jobs
A Glassdoor survey reveals that 64 percent of workers say their company is investing more in diversity and inclusion than it has in years past. Also, Glassdoor’s Economic Research team found that job openings for roles related to diversity and inclusion in the U.S. have increased 30 percent since last year, with approximately 810 jobs open across the country.

4. More candidates will embrace the mobile job search
We see a decline in the use of the traditional desktop PC that has an impact on candidate experience, and so, employers will be looking to adapt in 2020 and streamline the mobile job application experience. It is expected that by 2025, nearly three-quarters of the world will use just their smartphones to access the internet (CNBC).

5. Employers will put more focus on candidate experience
A good candidate experience during recruiting can be defined by transparency, respect, communication, efficient application process, offering a fair opportunity, timely feedback and so on. Negative candidate experience has a negative effect on a company, as according to statistics, 54.1% of job seekers who had a poor candidate experience stated it would have a negative influence on their decision to purchase a company’s products or services or on their brand perception.

Is your 2020 recruiting strategy aware of these trends?
Schedule a complimentary session with us, let’s talk about recruiting and take your business to the next level!

hiring statistics

Hiring Statistics that will Drive your Recruiting Processes in 2020 and Beyond

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Is your recruiting team aware of the most important hiring statistics for your company? Are you in the loop with current hiring statistics as we enter 2020? Knowing which areas are in need of candidates will enhance and engage your HR services and recruiting efforts.

Current Unemployment Rate
Heading into 2020 in the US, we have a current unemployment rate of 3.6%. This unemployment rate may come as a shock to some because, at one point in 2008, the US had a 9.8% unemployment rate! This unemployment rate is one of the lowest we have seen in the US. What do these hiring statistics mean to employers and employees? At a very high level, it means that companies may have a more difficult time finding the right candidates and as quickly as they need.

Statistics on Hiring
Which areas will require most hiring growth and hiring needs? The highest growth is occurring in the fields of leisure and hospitality, education and health, and the financial sectors.
Leisure and hospitality added 61,000 jobs in October 2019. Within the industry, employment rose by 48,000 in food services and drinking places. Job growth in leisure and hospitality has averaged 51,000 per month over the past 3 months, compared to an average of 19,000 per month during the prior 7 months.
Within education and health services, employment in social assistance rose by 20,000 in October. Most of the job growth came in individual and family services (+17,000). Over the past 12 months, social assistance has added 139,000 jobs, with 111,000 coming from individual and family services.
Financial activities added 16,000 jobs in October. Activities related to credit intermediation added 4,000 jobs. So far this year, employment in financial activities has increased by 104,000.
These statistics mean that your recruiting efforts should be focused on these sectors as they are in need of candidates or may need assistance with business reorganization.

How Does This Impact Hiring Statistics in the US?
To understand and be prepared for the hiring needs in the US, you need to follow the trends and focus on future growth as well as employee retention. SourceMatch specializes in recruitment and sorting out the hiring cost statistics for you and your company. If your company is feeling the costs of low unemployment and job mobility, then it’s best to allow a partner to guide you through the hiring statistics and the added savings for your company. The increases that were seen in the hospitality, health, and financial sectors, demonstrate a high need for recruiting support in those areas.

US Hiring Projections Through 2028
Are you prepared for the long term with regard to recruiting and consulting for your clients? Recruiting teams need a plan as employment (US) is projected to grow by 8.4 million jobs to 169.4 million jobs over the 2018–28 decade, the U.S. Bureau of Labor Statistics (BLS) reported. This expansion reflects an annual growth rate of 0.5 percent. By staying up to date with the hiring statistics, your company can be better prepared for the recruiting needs of the future.

High Needs Recruitment and Service
Which 10 fields have the most growth? Occupational employment jobs are included in the fastest-growing occupations. Recruitment and support for these industries are projected to continue through 2028. These include solar installers, wind turbine technicians, home health aides, personal care aides, occupational therapy assistants, information security analysts, physician assistants, statisticians, nurse practitioners, and speech-language pathologists.
Hiring statistics for occupational employment is projected to grow by 5.2 percent from 2018 to 2028, an increase of 8.4 million jobs. Many of the fastest-growing occupations are in healthcare and related services. Other rapid-growth occupations are in computer and mathematics and in renewable energy fields.
What does this mean for your company? These hiring statistics allow you to focus on the impact on your clients and this also gives you preparation time for recruiting efforts and goals. In a few words – it allows you to be proactive.

Source: U.S. Bureau of Labor Statistics

 

Education Statistics
What does the employment growth look like for high school degrees and beyond? 12.2 percent growth is projected for occupations in which a high school diploma or the equivalent is typically needed for entry, compared to the highest growth for master degreed individuals at 21.2 percent. Less than a high school education is seeing a growth rate of 14.1 percent and those with some college but without a degree, are seeing growth at 17.5 percent. Knowing which candidates meet certain education requirements will better advance your recruiting efforts and your clients’ needs.

Discouraged Worker Statistics
Are you aware of the huge amount of potential candidates that are “marginal”? This means that they are looking for work, but not finding their work preference. In October, 1.2 million people were marginally attached to the labor force, down by 262,000 from a year earlier. These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 341,000 discouraged workers in October, down by 165,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 888,000 persons marginally attached to the labor force in October had not searched for work for reasons such as school attendance or family responsibilities.

To conclude, SourceMatch is equipped with guiding you through the data, hiring statistics trends, recruitment, and hiring costs associated with these current and future trends. The US is seeing low unemployment, high growth in the healthcare, hospitality, education, installation (solar/ wind) and financial sectors. Book a meeting with SourceMatch to learn more and allow us to learn about your vision and growth strategy through a brief introductory conversation.

Challenges that Companies face when Recruiting

How to Solve the top 5 Challenges that Companies face when Recruiting?

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Modern recruiters and HR managers find it essential to stay up to date with the changes in a candidate-driven market and they need to reevaluate their hiring techniques because of the challenges they are facing.

In order to get a clear picture of how to solve the top 5 challenges that companies face when recruiting, let’s first identify them:

1. The need for a new hire “Yesterday”

One of the biggest challenges that recruiters face nowadays is having to hire quickly. And we all know that vacant positions cost time and money. Hiring fast can have its advantages but it can also come with a cost. Hiring quickly to fill a role, can save a bit of money, but what if the candidate is not the correct fit? What if that candidate leaves, does not fit into the work culture, or does not match the skill set required? Candidates also prefer a quick application process. According to statistics, 60% of candidates have quit the application process because it took too long.

41% said automated decision-making would speed up their time to hire.

Solution: Build talent pools proactively. Having a nurtured talent pool can make all of the difference. It will come in handy when you need to fill a role fast. Using the right recruitment automation tools can ease up the HR workload, using time in an efficient way and improve the quality of results. In this process, don’t forget to be human. Candidates are people and they expect so see genuine care. Think about their plans, their aspirations, where they are in their career, as you would for yourself. This will have an impact in the long-term.

2. High Competition in the Market

The competition for talent at a global level is fierce. With outsourcing services and remote working, the entire workforce landscape has changed. A recruiter’s role (area of expertise) gets wider as challenges grow, and they need to go the extra mile to hire the best talent.
The Bureau of Labor Statistics confirms that in September 2019, there were 7.0 million job openings and only 5.9 million hires.

Solution: With many offers on the table, candidates get picky and look for more than just a paycheck. Actually, the first interaction they have with the company could be with the product/ service it offers. Employer branding is no longer an option. It can cut the time to fill in half and a positive reputation can lead to 50% more qualified job applicants. As a result, 59% of recruiting leaders worldwide are investing more in employer brand (Source: LinkedIn).

3. Finding Skilled, Qualified Talent

92% of business leaders think American workers aren’t as skilled as they need to be.
There is a real skills gap in the workforce that keeps growing. Depending on the role, there could be barriers from lower levels to higher levels. Time constraints and the need for specific skills sets can cause a skills gap, that can impact your company.

Solution: Fill the knowledge gaps by upskilling the team. There are different ways to accomplish this: current employees should have the opportunity to attend conferences, workshops, in-house training. Another approach would be to consider “virtual mobility” (an alternative or complement to physical mobility programs) – a relatively new concept defined by elearningeuropa.info portal as: “The use of information and communication technologies (ICT) to obtain the same benefits as one would have with physical mobility but without the need to travel”.
Bridge the skills gap by working with a recruiting company like SourceMatch.

4. Retaining Millennials
Millennials are the generation born between 1980 and 2000 and there are 75 million in just the US. It’s no secret that millennials want something else in the workplace. And by something else we talk about how they want their job to mean something, to have a purpose.

Solution: In an article published by Forbes, Nathan Peart argues that millennials are efficient, driven and focused and the Millennial workforce will show passion and dedication—giving workplaces the opportunity to offer Millennials a real trajectory and a chance to grow and stay. At SourceMatch we implement personal development sessions and each individual’s growth is very important to us. These sessions give us a clear understanding of where the person is, how they evolved, and the direction they’re heading.

5. Relationship with Hiring Managers

Is the relationship between the recruiter and the hiring manager a smooth and effective one? It should be, right? But the truth is that recruiting has a lot of expectations from various stakeholders and managers. From these expectations and the quality of candidates, you can sense the need for goal alignment and proper communication.

“51% of recruiters said hiring managers “should do a better job communicating what they are looking for in a candidate” and “provide relatable examples.” (iCIMS)

Solution: Effective recruiting starts with a healthy relationship between the recruiter and the hiring manager, that needs to be built on trust. A 20-minute meeting in which they look over the job description together, the new position to be filled, the mandatory requirements; can make a difference. In the hiring process, there are different perspectives but the same goals. Communication can change the perspective when you communicate about the goals required to meet those needs.

Summary

In this article, we pointed out the top 5 challenges faced by recruiters and how they can overcome each of them. Whether we talk about the need to hire fast, the competition when looking for talent, finding the right one with all the skills required, retaining the biggest generation active on the market, or the relationship between the recruiters and the hiring managers, one thing is certain: these challenges helped us grow and save precious time and money.

How can we further assist you in developing your organization’s competitive advantage? By finding the right people. The SourceMatch team works in a close partnership with our clients and makes sure that by the end of every project everyone in the recruiting process has won: the hiring manager, the candidate, and the recruiter. Get in touch with us to discuss your recruiting priorities as you take your business to the next level.

Understanding and Managing the Recruitment Process

Understanding and Managing the Recruitment Process

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“During the last decade of economic expansion, organizations have focused on finding the right talent to drive business growth.” Deloitte

Every company must develop a recruitment process that will support its growth strategy since having the right people onboard can very well determine whether a company succeeds and thrives, or will lose to its competitors. It must establish recruitment objectives, develop a hiring strategy, carry out recruitment activities, measure results and evaluate the effectiveness of it all.

“Employers who excelled in recruiting experienced 3.5 times more revenue growth and twice the profit margin of other employers.”

Finding professionals with the right skillset can be a challenging assignment. Managers must decide on what kind of candidates they want to attract, on what recruitment message to communicate and how to reach people. When done poorly, an organization’s talent acquisition efforts will result in job applicants who are unfit, need different traits or might be likely to quit within months of having been hired for a job. An ineffective recruitment process will miss highly qualified candidates altogether since these are professionals who excel at their current jobs and aren’t currently looking for a career change.

Recruiters have a critical job beyond assessing candidates. They have the responsibility to align their company’s vision and culture with the hiring process, and then making them clear to all candidates that they get in touch with.

Define what “best” looks like

When developing a recruitment strategy, recruiters should focus on identifying the best candidates for each opening. Therefore starting a search by clearly defining what “best” looks like for the organization is essential to the quality of the process: values, skills, experience, and potential. We recommend our clients to look at the best performing employees to date that have remained employed for at least 18 months. Observing what caused them to be successful can then be correlated back into the recruiting process, and have candidates vetted against those traits that are critical to success.

“The Average Cost-per-Hire for Companies Is $4,129, while the average time it takes to fill a given position is 42 days.” (SHRM)

While the process is important, measuring its success is even more significant. Starting from basic analytics such as time to fill a position, cost per hire or percentage of offers accepted, to complex subprocess indicators, there are numbers that can help you identify areas of improvement.

Reach out to us to learn more.

recruiting with SourceMatch

Recruiting with SourceMatch – a Partnership-Based Process

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When you find your company in a hiring bind, what should you do? What about when you have an abrupt reorganization demand? How does your company handle such issues? Do you have a plan for the short and long term? Companies who have a plan are better prepared to deal with changes or restructures in their organizations. Even if you do not have a plan now, working with a recruiting company such as SourceMatch, will better prepare you for any possible changes or employee gaps that may need to be filled. Just plug into our Engaged Recruiting process and run with it!

Recruiting Support. Due to the booming economy, especially in the IT and healthcare fields, companies find that they need the right talent, immediately. While some companies invest in internal talent acquisition and recruiting teams, they still have a hard time filling their workforce gaps. Recruiting with SourceMatch effectively sources candidates and matches candidates that fit our clients’ needs and their workplace culture. Even if your company has an internal recruiting firm, you may need the help of an outside resource to better handle reorganization or restructuring issues.

Engaged Recruiting Process. Recruiting with SourceMatch starts with an engaged recruiting process. We have developed this system to empower organizations to strengthen their hiring efforts. By joining forces with SourceMatch, your company will get a better grasp of new and up & coming concepts in the workforce. Things such as generational gaps and strengths, employee strengths, managerial skills, empowering employees, assessing behaviors, skills, situational behaviors, and language, are just some of the ways SourceMatch empowers our clients and their staff.

We first begin with a foundational discussion about your company’s hiring needs and workforce culture. Where do you see and envision your company going? What areas do you see for improvement? And, how does the job opening fit in that overall picture? What makes a candidate successful in your organization? We then offer suggestions and a follow-up meeting to discuss any questions that may have arisen. After coming up with a plan, we then coordinate an appropriate contract, in accordance with our client’s needs.

Recruiting Candidates. SourceMatch has served hundreds of clients by successfully navigating the current trends in recruiting. We have a step by step process for the candidate(s) search. By recruiting with SourceMatch, you not only gain access to the top talent, but you also gain access to trends, business plans, restructuring concerns, and you also gain a problem.solving, up to date, recruiting team SourceMatch Recruitment Information – “We take this important responsibility very seriously. Our clients come to us with a variety of different projects and needs. We will not accept any requests that we believe will not be successful in sourcing the appropriate talent that is qualified, interested and available.”

Reach out to us and let us assist you in finding the best talent for your organization.