Three quarters of HR professionals have reported hiring difficulties in the last 12 months according to the latest Resources and Talent Planning Survey from the CIPD/Hays recruitment, which recommends the adoption of a smarter approach to hiring by UK employers.
Here we look at ways to achieve that:-
Work on retention
A successful talent acquisition strategy must include talent retention too to prevent a repetitive cycle of short lived hires. Once you’ve secured a job acceptance from your new hire, retention must begin with onboarding to ensure they don’t (a) renege on your job offer before their start date or (b) leave within the first six months. Early departures create a major headache for HR as they again grapple with filling a gap in their organisation and the ensuing impact on morale and productivity. The creation of an effective employee experience must lie at the centre of your overall talent management strategy but HR can make a start by showing appreciation of employees for a job well done. Over half would leave a company that didn’t offer a simple ‘thank you’ for their efforts] on a regular basis.
Get to know your metrics
Less than a fifth of HR professionals measure the return on investment of their recruitment strategy according to the CIPD and over half don’t evaluate the cost of lost talent to their business. Getting to know your key metrics is essential to understanding the underlying patterns in your recruitment cycle such as your most successful source of hire and your candidate drop-off rates. Start by investing in recruitment software that reports on all of the data captured in your system and offers real-time access to your latest analytics.
Take your time to hire seriously
If you focus on only KPI, make it your time to hire. It is the metric which can have the most significant and rapid impact on your recruitment success Over 40% of recruiters in the CIPD survey believe that their time to hire has resulted in the loss of prospective employees in the last 12 months. Talent is only on the market for 10 days. If you can’t quickly capture their attention and demonstrate that your organisation is one that appreciates the value of qualified candidates, your business will experience ongoing hiring difficulties. Tag and fast track your talent through your applicant tracking software.
Overhaul your interview process
Your final candidate selection should not be based exclusively on the interview, nor should it be made within one minute of meeting a candidate, but that is the reality for one in five hiring managers, extending to a 15 minute decision making process for 40% of hiring managers. Unconscious bias results in HR returning to the same, shrinking talent pool again and again. Introduce the use of anonymised CVs through your recruitment software, coupled with extensive pre-hire testing and structured interviews. Support your final candidate selection with the evidence in your recruitment data to create a smarter hiring process.
Overcome your fear of AI
AI will replace ‘tasks rather than jobs’, according to Stanford University’s, One Hundred Year Study on Artificial Intelligence which suggests that AI is a ‘radically different mechanism for wealth creation’. Predictions of an AI apocalypse are yet to materialise and 61% of recruitment professionals either ‘disagreed or strongly disagreed’ about AI being responsible for job losses in their organisation according to the CIPD but too many hiring teams remain resistant to technology. Over half don’t use applicant tracking software in screening. Investment in recruitment software that replaces ‘tasks, rather than jobs’ is your first step towards a smarter approach to hiring.