Hiring success depends on a number of things, including understanding the recruitment trends that may affect your ability to source and retain talent. Here are seven your hiring team needs to be aware of right now:-
A move away from zero hours
Last week McDonald’s announced its intention to offer 115,000 employees the option of moving from zero hours to fixed contracts. The global fast food chain is one of the biggest employers of zero hour contract workers in the UK and its move may prompt others to follow its example. Suggestions of a higher minimum wage for zero hours contract workers have also been raised. As the traditional 9 to 5 job changes, employers who offer job security and commitment will be the most successful in sourcing and retain qualified candidates.
Retention of new hires is a real problem
As the available talent pool shrinks this already significant problem will become more pressing for HR. 90% of businesses are already worried about their ability to hang on to their new employees. Slow hiring processes, a lack of diversity in screening, non-existent background checks and hiring teams with no interview experience all affect staff retention. Start by supporting your hiring process with recruitment software that pinpoints the problems in your process.
Your office space matters
The state of your office space may just tip the balance between your ideal candidate accepting your offer and that of your competitor. A recent survey suggests that over half of all job seekers turn down job offers if their new working environment fails to meet their expectations. Unsalubrious working conditions, broken furniture and a lack of natural light all influence that final decision. Location matters too, the closer you are to transport links and amenities, the more likely that your offer will be accepted.
Salaries are squeezed but not in tech or finance
Salaries for advertised vacancies have fallen by 3.8% in the past year but two sectors are bucking the trend. Glassdoor’s list of the highest paying jobs of 2017 is dominated by tech and finance companies. Understanding your specific industry and regional trends together with the patterns revealed in recruitment data will enable more successful targeting and promotion of your job posts.
Facebook and Google step it up
As Facebook reports almost two billion monthly users and continues to move forward with Facebook for Jobs, anticipation is rising over the launch of Google Hire as a prospective jobs site. Despite the acquisition of LinkedIn by Microsoft, it still struggles to appeal to millienials and recently reversed changes to its site in response to a wave of criticism from recruiters. Social recruiting should play a role in your hiring strategy. Data in your recruitment software will inform you which social media site is the most effective for your business.
Your graduate recruitment has to change
A further report by Korn Ferry, Graduates, Brexit and Beyond, found that nearly a quarter of graduates are changing their long term career plans following Brexit and nearly half of European students are reconsidering their options. The Association of Graduate Recruiters notes that employers spent an average of £1,700 per hire to attract and market to candidates but 5.4% of last year’s graduate vacancies were still unfilled and offers reneged on at the last minute. Your graduate recruitment strategy has to change in order to attract and retain the best talent this year. Faster recruitment times and paid internships are two strategies adopted by leading employers in a bid to secure the commitment of the best graduate talent.
The digital skills shortage is a bigger threat than AI
Artificial intelligence isn’t materialising as the threat to employment that has been predicted to date. 5 million low risk jobs have been created since 2001, compared to 800,000 high risk jobs lost, yet hiring teams are wary of harnessing the advantages of automation and AI in hiring. Of far more immediate concern is the digital skills crisis affecting the UK which prompted the CIPD to suggest businesses are ‘sleepwalking’ their way into a ‘low value, low skills economy’. Employers who fail to invest in digital skills training will jeopardise both their hiring success and their ability to meet business goals.
Stay ahead of the latest trends. Support your hiring process with recruitment software used by some of the world’s leading organisations to hire people faster. Contact Advorto today.
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