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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 facts

10 Recruiting Facts that will make you Rethink the Whole Hiring Strategy

By | Blog, Recruiting | No Comments

Here’s a look at the recruiting facts we gathered that could make a difference in the way you approach your hiring strategy.

1. The healthcare insurance is the top benefit used to attract talent with 92% of employers stating they offer it.
2. 79% of employers say candidate experience is “extremely” or “very important” in their recruiting process.
3. The best practice for a memorable candidate experience is constantly communicating with candidates at every step of the process (voted by 72% of respondents).
4. 58% of employers have the best chances of finding entry-level workers, followed by 46% who have success in recruiting mid-level talent and 43% who are successful in finding professional talent.
5. 78% of respondents said they post jobs on their company website, while 72% used job boards like Monster or CareerBuilder.
6. Online recruiting strategies have gained popularity in the last few years, and as a result, 69% of employers say 50% to 100% of the jobs are filled by online applicants.
7. 62% say the biggest “pro” to online recruiting is a tie between increased exposure to a wider candidate pool and ease of use.
8. 71% say the biggest “con” to online recruiting is that it results in too many unqualified candidates.
9. For the 22% of respondents who say they do negotiate benefits with candidates, the top benefit to negotiate is: Paid time off (PTO), the amount of vacation, sick, and/or personal leave (69%)
10. Only 27% of respondents keep track of the “cost per hire” metric.

Create a hiring strategy based on recruiting facts, trends, and data that’s already validated in the talent market. You will see results in a short time.

Get in touch with SourceMatch to speak about how we partner with organizations to help them identify and recruit the best talent. Having a tailored recruiting solution can dramatically decrease your cost per hire!