Keeping up with the latest hiring trends and best practice in a changing jobs market can be a challenge for overwhelmed HR departments. Recruitment software can help you to stay ahead of the competition. Here’s how:-
Timing of your job posts : New data indicates that candidates are more likely to apply for vacancies early in the month and preferably on a Monday or Tuesday. The research suggests that the number of applicants per vacancy is 44% higher on those days than on a Friday and four times higher than Saturdays. Jobsite previously recommended 11am on a weekday as the ideal time to attract more candidates. Research is helpful but the key is to attract quality over quantity. Recruitment analytics provided by your HR software will offer specifics on the best time (and where) to post your vacancies to attract the most qualified candidates.
Incorporating background checks : A further survey this week confirmed concerns over the rise in accurate or misleading information contained in applicant CVs. Research from Axelos, a joint venture between the government and Capita, found that that in the past three years nearly 100,000 applicants have lied about qualifications. Hiring an unqualified employee carries significant risks for a company’s reputation. Retail giant Morrison’s was found ‘vicariously liable’ by the Supreme Court in March this year when an employee attacked a customer. The financial cost of a bad hire is also significant. Almost 40% of respondents estimate they spent over £10,000 to replace an underqualified employee. For nearly 1 in 10 (9%) this cost rose to £40,000. Surprisingly, 42% of UK employers still skip this vital part of the hiring process. Automate basic, essential checks through your HR software to reduce your risk of a bad hire.
Ensuring a competitive salary : Nearly a quarter of jobseekers rate a competitive salary and benefits as their number one factor in accepting a job offer. Recruitment software quickly identifies vacancies which don’t match current market rates and may affect staff retention. Be realistic with your salary but be aware of other factors which can influence your job offer acceptance level. For example, flexible working is likely to affect the demand for talent in the next 5 years, according to Deloitte’s UK Recruitment Index 2016.
Identify flight risks : The 'post summer blues' is predicted to lead to a rise in the level of job seekers in the coming months. New data has revealed that work anniversaries and birthdays, can prompt employees to look for a new job. Recruitment analytics will identify those potential 'flight risks' while our previous article outlines additional ways to prevent a talent exodus.
Fast track candidates with critical skills : Data and analytical skills are now considered to be the most important in a new hire. 80% of business leaders also believe that data analytics should be a compulsory element of MBA programmes but the lack of investment in digital skills across the UK workforce remains a problem. Recruitment software identifies candidates with these vital skills and fast-tracks them through your talent pipeline. The CBI found that the UK ranks 14th globally in digital adoption so tapping into this key hiring trend is vital for long-term business growth. Deloitte’s UK Recruitment Index also highlights a greater use of technology as a key trend impacting demand for talent in the next 5 years.
Tap into the latest hiring trends with world class recruitment software that helps you to hire better people faster. Contact Advorto today.
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