HR is inching towards embracing technology in talent acquisition as it becomes more difficult for UK businesses to attract qualified candidates. Progress remains slow, however, with 54% of HR functions still relying on manual recruitment processes. That’s a scary thought, but the effect of HR software on your hiring process is scarier.
Here’s what we mean:-
Better quality of hire : LinkedIn’s Global Recruiting Trends 2016 identifies quality of hire as the most important recruiting metric for global business leaders. Without HR software it’s more difficult to analyse the common skills and attributes that your most successful hires share. In the UK, less than a quarter (23%) of employers expressed confidence in their ability to accurately measure their quality of hire and only 5% claimed to be ‘best in class’. What’s more scary, your inability to measure your quality of hire or installing recruitment software?
Effective screening : Early indications suggest that predictions of a 2016 talent exodus are proving correct. Unhappy employees are on the move. Recruitment agency Reed revealed that 60,000 new candidates registered on its website in the first week of 2016, with 1.1 million job applications submitted during the same period. The thought of getting to grips with recruitment software might be scary to some HR practitioners but the failure to screen high volumes of applicants effectively is surely a more daunting prospect.
Boosts employee referral programmes : Just over a quarter of employers believe that employee referral programmes will be a long lasting trend. This relatively low figure is probably due to HR's struggle to create a referral programme that works. Referred candidates are consistently shown to be a better quality of hire, high achievers and more loyal employees. Modern applicant tracking systems tag referrals and fast track them through your hiring process. Is HR software more scary than losing qualified candidates in the black hole of a manual recruitment system?
Higher retention levels : Nearly a third of employers cite retention as a priority in 2016 but the figures provided by Reed suggest a gulf between what employers want and what is really happening. HR software identifies the sources of your most successful hires and is integral to creating and nurturing a talent community, both key factors in improving staff retention levels. How scary is that?
Reduced time to hire : From the candidate’s point of view, delays in the hiring process leaves them at risk of a better offer. 42% of candidates reject job offers, many because your competitors snap them up while your HR function procrastinates. HR software provides insight into your company’s average time to hire and highlighting problem areas in the process, allowing you to take action. Is that such a scary prospect?
It’s cost effective : Investing in building your own technology infrastructure is an expensive option. Partnering with an HR software vendor means that you pay only for the technology your business needs today, keeping the cost of your investment justifiable. Scalable talent recruitment systems result in an affordable and efficient hiring process - not scary at all, really.
It makes HR accountable : When coupled with effective talent acquisition strategies HR software improves your overall hiring process and removes your company’s excuses for its inability to attract talent. Now that is scary!
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