How much of your work hours do you spend on recruiting? How sure are you about the candidate before you e-mail the offer letter? Are you still breaking your head to reduce the cost per hire? Finally, when did your company last upgrade its recruitment strategy?
People buying honey in a departmental store usually rack their brains before a rack of myriad honey brands. But did you know? The quality of honey is not in the refining process but in the choice of nectar that the bees make. For a company, recruiters are like these bees; their choices decide how the company will be positioned in the business environment.
Recruiters need to be as wise as possible in choosing the nectar (Human Resource) to ensure the quality of the service (Honey).
An elaborate recruitment process as described in HRM books would evaporate a lot of time and money, which a company cannot afford in today’s neck to neck competition. Hence, to surface the right candidate from the pool of applications, companies keep innovating ideas in talent acquisition.
Our growth in technology and innovations today is already outperforming Gordon Moore’s famous prediction. Hence, gone are the days when CVs and referral letters are insisted on. Today, companies use more advanced recruitment software packages. They have moved to digitalised profiles and video resumes. Their applicant tracking system handles all the big data. With more features like asynchronous video interview, instant analytics and recruitment CRM being coded every day, they achieve shorter hiring cycles and lower recruitment cost ratio.
Moreover recruiters make more informed decisions by resorting to all kinds of social media platforms like Facebook, LinkedIn and Twitter that can pool data about their candidates. At the same time job seekers resort to company review sites like glassdoor.com etc. Thus when both the parties go online in the process, it becomes a fair game.
The trend setters have gone a step further to make it all possible via mobile apps, making hiring possible anywhere and anytime. These automated innovations also provide with instant analytics and comparison reports thereby greatly reducing the tedious responsibilities of HR managers.
In today’s scenario, the war for talents among companies is more severe than the war for job openings among applicants. So, to get ahead of the pack, ensure that you devise a smart recruitment strategy.