The Recruiting Problem
Key positions, retirees, and millennials—oh my! Competition for good talent is tough. Two generations are preparing to retire simultaneously. This will leave key positions and leadership positions vacant. Millennials tend to job hop ever 2-4 years. This will leave entry-level and mid-level vacancies. The hiring process can take a while (source, search, interview, etc.). There is a natural tendency to rush and make quick decisions.
You’re not alone. More than half of companies in the top 10 world economies have been affected by a bad hire, according to a CareerBuilder survey. “Making a wrong decision regarding a hire can have several adverse consequences across an organization,” said Matt Ferguson, CEO of CareerBuilder. “When you add up missed sales opportunities, strained client and employee relations, potential legal issues and resources to hire and train candidates, the cost can be considerable. Employers are taking longer to extend offers post-recession as they assess whether a candidate really is the best fit for the job and their company culture.”
This is what can happen when we’re not strategic. A mis-hire can be costly both in terms of time and money, and not just in terms of the time and investment made by the recruiters and the recruitment process. Onboarding, training, salary payments, severance, disruption, and months of sub-par work performance can all have substantial business impacts. Employee morale can suffer, client interactions and deliverables may be less than stellar, not to mention the need to make another hire.
Strategic Recruiting: A Proven Solution
Take the guesswork out of the hiring process. Organizations are moving beyond basic applicant tracking. The shift is to integrated data solutions with a talent and role-based foundation. In addition, a recruiting marketing component allows organizations to better attract specific talent and reach a larger audience base. Having a solution which stores talent profiles allows organizations to better retain top talent and mirror top performing profiles in the selection process.
What is Strategic Recruiting?
- A fast, effective recruitment process that quickly identifies optimal hires for in-demand roles
- A mobile option which eliminates hiring manger and recruiter wait times to fill positions faster
- A way to simplify managing high volumes of candidates and moving them through the applicant process to get at the best-fit candidates quickly
- A way to take the complexities and ambiguity out of interviewing by managing the entire interview process from scheduling to feedback with data-driven candidate ranking
- A complete, simple process to manage offers so you can hire talent faster and easier
- Detailed candidate management reporting to give you the visibility you need into what roles are filling quickly and which take more time so you can alter your candidate pipelining strategies to drive better hiring in less time
Benefits of Strategic Recruiting
- Automate the requisition and posting process
- Increase reach of postings and the candidate search process
- Provide transparency to the fulfillment process
- Offer new mediums for your employees and managers as well as applicants (increases engagement)
- Create talent pools for cultivating new prospective applicants
- Use talent profiles to find candidates with similar skillsets as your existing top performers (trends) and help reduce bad hires
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About Illumiti HCM
Illumiti HCM is part of the Illumiti Group, which serves more than 200 customers across a multitude of industry sectors and locations. From its founding in 2000 to the end of 2015, Illumiti Group has completed more than 250 successful implementations at small, midsized, and large enterprises. Whether it’s an HR transformation initiative, a merger and acquisition related project, a drive to propel a business to best-in-class performance, or a system roll-out to other business divisions or countries, Illumiti HCM does it faster, at a lower cost, and with a higher level of confidence.