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Finding and attracting the best talent is crucial for organizational success. However, because of changing candidate expectations and talent shortages, recruiters and hiring managers face challenges with where to find job candidates.
Experts project that by 2030, there could be a global shortage of nearly 85 million skilled workers. This could lead to an annual loss of $8.5 trillion in unrealized revenues globally. In the tech sector alone, the U.S. could face a deficit of over 6 million workers by 2030, losing $162 billion in annual revenues.
This article provides a guide for recruiters and hiring managers to find employees. It outlines 10 employee recruitment strategies for hiring managers to attract the best talent.
A compelling employer brand can differentiate a company in a competitive job market. Here are some tips for developing an employer brand:
Companies with a strong employer brand see a 43% decrease in cost per hire. Job seekers are always looking for employers that align with their values and offer a work environment that includes career development opportunities, autonomy and remote work options. Statistics show that nearly 75% of job seekers consider an employer’s brand before applying.
Hiring managers must use data and analytics in the recruitment process. Data-driven recruitment can improve hiring efficiency and quality. Some key metrics include:
These metrics can optimize recruitment strategies and help you make informed decisions. Using AI and machine learning tools to analyze recruitment data can improve hiring outcomes. Nearly 62% of recruiters have an optimistic outlook about AI’s impact on recruitment, and 27% say they’re actively using it. At least 30% of businesses plan to invest in AI-driven recruiting solutions.
Employee referrals have the highest applicant-to-hire conversion rate — around 7% apply, accounting for 45% of all hires. Employees hired through a referral program have a 45% retention rate after two years compared to only 20% for those hired from job boards.
Here are some tips for creating an effective employee referral program:
Employee referral programs can be a powerful tool for sourcing diverse candidates, encouraging employees to refer candidates from diverse backgrounds, helping establish incentives for successful referrals and providing the opportunity to leverage employee networks to identify talent.
Well-crafted job descriptions can help attract the right candidates. Here are some tips for writing effective job descriptions:
It’s important to ensure job descriptions are not too long, as posts with 150 words or less will likely receive more applications than longer posts. In addition, job descriptions that use gender-neutral language attract 42% more responses than those with gendered language.
Nearly 79% of job applicants use social media in their job search. There are various social media platforms that you can leverage for recruiting. LinkedIn is very effective for professional networking and job postings, while X (formerly Twitter) can be useful for sharing company culture and engaging with potential candidates.
Social media can be effective in attracting both active and passive candidates by:
Effective engagement can improve candidate experience and increase the likelihood of attracting top talent. Nearly 80% of job seekers think they would not reapply to a company that didn’t notify them of their application status. Similarly, 52% of candidates are more likely to engage with a company if they receive feedback on their interview.
Some key strategies for engaging candidates include:
Hiring managers and recruiters should use diverse sourcing channels to find qualified candidates. Some of these sourcing channels include:
Hiring managers should implement a user-friendly and simple application process to attract top candidates. Nearly 60% of job seekers quit while filling out job applications because of their length or complexity. Streamline the application process by:
A competitive compensation strategy should:
Hiring managers should communicate the full value of the compensation package and highlight monetary and nonmonetary benefits. Companies should also focus on employee well-being, including physical and mental health, work-life balance and a supportive work culture.
79% of recruiters believe AI will play a significant role in talent acquisition. Various technologies can improve the efficiency and effectiveness of the hiring process, including:
AI recruitment tools can help improve hiring outcomes, reduce bias, improve candidate engagement, streamline screening and increase transparency.
The strategies discussed above can help hiring managers:
If assessing your recruitment strategies and identifying areas for improvement interests you, contact our team today.
Dice Staff