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.
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.