by Raghu Nandhan | Apr 18, 2019 | Blog, Recruitment Technology, Talent Acquisition
In 2011, only 54% of recruiters believed we have a tendency to be heading towards a candidate-driven job market. The time (and the numbers) has changed, and today, 90% recruiters agree on the crucial role of candidates in any hiring plan.
A candidate’s opinions of your organization are going to be formed nearly entirely by the recruitment method. Consider their first initial point with your company as a primary date. While it’s crucial for the candidate to sweep the recruiter off their feet, recruiters usually forget however it’s is necessary for them to make a positive impression in favor of the organization.
After a nasty candidate experience, 72% of job seekers report sharing their encounters online. This alone will severely diminish an organization’s complete equity and stop future candidates from considering them as employers. In fact, 55% of job seekers report avoiding bound corporations when reading negative reviews.
Every interaction with a candidate sends a transparent message concerning the organization. Let’s examine some common enlisting mistakes, and also the message they send to smart candidates that may scare them away.
We explore the reasons behind this shift and share five trends in recruitment for 2019.
#1 The Rise of the Employer Brand
Studies by LinkedIn show that over half of job seekers conduct thorough research about a brand before applying. Now, for SMBs this could be a challenge — mid to large-scale companies have an established online presence and even word-of-mouth repute, small employers risk coming off as unfamiliar and uncertain. In 2019, this section can invest heavily in employer branding initiatives so as to draw in high talent.
“To build a strong brand, CHROs must have a dedicated tech team focused just on HR technology. Employer brands are maintained on the underlying technology that supports their initiatives. The Best practice is to have the tech team report to HR, not to IT. Technology moves quickly, so having experts focused solely on HR’s direction and initiatives are imperative. CHROs must be ahead of changing technology.
#2 It’s Social All the Way
2019 is a generation that’s grown up online, using social media to shop, ask for recommendations, and even job hunt. While social recruiting gained plenty of momentum in 2018, next year it’ll be a must-have. Further, in a candidate-driven job market, social media may be a bigger game changer holder recruiters realize and connect with passive talent.
#3 Drawing out the recruitment process
The interview method can be lengthily based on companies hiring policies. The overall method can take an average of 23.7 days. While a good candidate may be considering your organization, they’re likely possible considering different companies as well. By drawing out your process, you are communicating to a good candidate that not only is you still not sure about them, but they might not be your top pick. As a result, sensible candidates could withdraw themselves from the pool. Having multiple screening ways beyond the interview (IQ tests, presentations, panel interviews, etc.) also slows down the process and build more hurdles that scare candidates away.
Eliminate any uncalled steps or meetings, and make an offer as quickly as potential. Remember, if you string candidates on and treat them poorly, they’re going to possibly share their experience on sites like Glassdoor, thus communicate transparently and regularly.
#4 Proactive Recruitment Marketing Strategies
Recruitment promoting has been around for a minute, however specific campaigns are typically connected to a forthcoming hiring event, a spike in attrition, or seasonal shifts. In other words, it is reactive in nature. In 2019, this is poised to change with recruiters investing in solutions or partnering with agencies, helping create a continuous conversation around the company — and thereby boost candidate interest levels. There are already a number of recruitment marketing tools available like LinkedIn Talent Solutions or Breezy HR, and more will join the list in 2019.
#5 Forgetting to sell the company and opportunity
Finally, keep in mind that as a recruiter, you’re attempting to sell a candidate on your organization. It’s necessary to be clear about the realities of the job. It’s also crucial to share positive information about the culture, highlight their growth potential, and always ensure the candidate is completely informed of all aspects of the role they are interviewing for. Like in any sales cycle, you must close the positions!
Losing sensible candidates to a bad recruitment process will solely harm your talent pipeline however can influence how candidate interact with your brand and products at the end of the day. The best candidates perceive that interviewing could be a two-way street, this information should be shared each way, and candidates should be treated with respect and value!
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by Raghu Nandhan | Apr 8, 2019 | Blog, Industry Trends, Recruitment Technology
Hiring the best talent is one of the most important key for any successful business but it isn’t easy. Over time, the recruitment process has become advanced. The search for good candidates has never stopped. So, to keep up the pace companies are developing and implementing various new ways to improve their hiring process.
Recruitment was considered to be solely dependent on humans but with the introduction of Artificial Intelligence, AI many of us feared to be losing out our jobs. It’s true that AI would replace many of human driven jobs but need of human supervision will still exist. In fact, AI would save a lot of our time which was spent on doing repetitive tasks which now can be used wisely in building humanly relationship with candidates. Henceforth making the whole recruitment process easier and quicker.
Artificial Intelligence can help us overcome biases to make meaningful and data driven decisions. But to eliminate recruiting or interviewing biases we need to understand or identify the biases. Biases can be of many types but one of the most problematic and common one is unconscious bias as we are not aware of it. We tend to make opinion about candidates even before interviewing them just by going through there resume. A candidate who attended a reputed college is not always the right fit. And sometimes we tend to judge a candidate by his physical appearance. His visible tattoos or scars should not be a parameter to question his job suitability. We tend to select applicants who are like minded to us. And sometime we offer a candidate just because out sixth sense or intuition approves it.
Hiring managers should work to revamp their hiring program to remove all visible and hidden bias. Artificial Intelligence has the potential to do this. AI can be used progressively in all stages of hiring that is from resume screening, candidate acquisition to employee engagement and retention.
Artificial Intelligence can help reduce the diversity gap. But there are few drawbacks to AI: It tends to mimics human behaviour. Whatever is put into it gives out similar results. A vast amount of data and information is available so AI picks up the most usual trends like it chooses men over women for tech positions, education qualification over skill set. So intensive care must be taken while writing algorithms to design your AI tool.
This doesn’t mean that AI doesn’t have any future in recruitment. It just means we need to teach AI what we don’t accept it to do. By learning AI can definitely promote diversity by reducing bias. It can help save time by responding to job applicants who fit in the set criteria and also can help resolving applicant’s queries. It can also help detect and analyse attrition patterns.
In conclusion, Artificial Intelligence can help us in lot many ways. It should be accepted and utilized positively and to be considered as something which will take our jobs. It doesn’t inhibit equality. It is easier to remove biases from AI than from humans, so ultimately it has the potential to build an equitable and diverse workplace.
In the near future, existing recruitment system would be more AI driven then now which is data driven as it will be able to find quality candidates in a blink and fill positions easily.
Pragna has been leveraging the AI technology for RPO in the recent times to eliminate bias hiring. AI has undoubtedly and seamlessly done an exemplary job at eliminating bias when it comes to recruitment processes.
Pragna’s AI enabled staffing managers and leaders to attract, retain and inspire the competent manpower which has lead to the success and growth of out Esteemed customers
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by Raghu Nandhan | Apr 1, 2019 | Blog, Industry Trends, Recruitment Technology
Today most of the organizations are leveraging the power of new technologies to streamline the hiring process to identify the best fit for a company. No doubt that big data represents a challenge and an opportunity for recruitment teams and staffing companies, and power analytics is turning into a key part to make a successful talent management process.
At Pragna, we look at the exciting opportunity to determine big data and use effectively. We look forward to working with our clients to leverage the ability of staffing and big data intelligence technology to improvise their talent pipeline and resource investments.
What Power Analytics Means to the Staffing Industry
Here are the primary impact areas of Power Analytics in Staffing
Traditionally, predictive analytics has helped the staffing firm to deal with the essential business queries of “who, when and why.” However, once applied to the staffing firm, predictive analytics helps to anticipate and optimize
Talent acquisition: helps to identify who is the top best? When should they be contacted? Why is this requisition/ job change opportunity attractive to this top talent?
Talent planning: Predictive analytics will optimize a talent pipeline by investing talent information to establish key factors that may result in higher resource allocation. For instance, identifying the simplest locations to speculate on recruitment campaigns for certain skills.
Job-response optimization: Throughout the recruitment process, power predictive analytics helps organizations optimize their job-postings response. Data analysis will give staffing firms with custom recommendations and tailored best practices to assist firms to overcome with higher responses to their job postings based upon primary factors such as period duration, location, occupation, and industry.
Client acquisition: A staffing firm’s talent database is its proprietary competitive advantage and sales tool. Therefore with the facility of power analytics to harness a staffing firm’s massive knowledge and provide valuable insight into the talent existing on hand, a firm is empowered to drive future sales conversations directly aligned to the talent they need.
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by Raghu Nandhan | Mar 27, 2019 | Blog, Recruitment Technology
The world is changing due to the induction of new technologies. Manual jobs are taken by automation, the technologies or machines which were of great use until yesterday are being replaced by newer and better versions of it. As the whole era is changing so is the
Recruitment and Staffing Industry. Finding the right candidates was never easy. Few decades before there was lack of recruitment channels hence there was a time constraint to find good fits in short span of time.
After some years there was abundance of recruitment channels, thousands of candidates were available just a click away. But again, it had its own complexities not every person who applied for the job was a right fit. Filtering and identifying the right candidates was heck of a job for recruiters and obviously not forgetting the time consumed to find the right talent. So, the search for newer ways and technologies to overcome these challenges was always on.
ATS (applicant tracking software) has been and will continue to be highly useful to manage the candidates but it isn’t efficient enough to discover the right fit from a massive pool of applicants and it becomes even more impossible when the greatest fits don’t lie in the database.
So again, the search began and big data as a technology was discovered. It was successfully being used in different fields. So, leaders thought to incorporate big data into recruitment as well. Before we start discussing everything in detail about big data and how it’s being used to recruit top talent, we need to have a solid understanding of what big data is.
Big data is a terminology used for vast, unstructured, complex and huge data which is readily available to us and where traditional database management tools fails to manage it. This huge amount of data is analyzed to reveal patterns and insights which helps to make important decisions in various aspects. Big data analysis is used for everything from education, government, banking or financial services, to analyze someone’s productivity, or even monitoring the weather.
How Does Big Data help in Recruitment?
Big data helps recruiting companies to sort a wealth of information to see a larger and more complete picture of candidates. It evaluates a candidate’s profile by using five V’s:
Volume
- Variety
- Velocity
- Variability
- Veracity
Big data recruiting doesn’t analyze a candidate just by taking a look at the resume but it collects every bit of information available on internet about the candidate. Thus, helping a recruiter to evaluate the candidate from several angles. A candidate’s social media profile can help recruiter to screen not only on the basis of his skill set but also help analyse his personality and find weather he is a cultural fit or not.
It’s always been a challenge to find candidates with niche skills over job boards. Big data puts special emphasis on candidates who are active on social media platforms like LinkedIn, Facebook, and Twitter etc and demonstrate their expertise by sharing advice, thoughts, and interesting industry insights. It creates a 360-degree picture of a candidate both professionally and personally even before their first interview.
How big data has changed the traditional recruitment process:
- Big data recruiting is not biased as it is not based on subjective factors.
- It makes easy to screen or manager hundreds of applications in a short period of time thus reducing the cost per hire and the average time needed to fill open positions.
- It predicts the future recruitment trends.
- It also predicts about the candidate’s likely tenure with the firm and reveals whether he/ she might be a good fit for the culture of the firm.
If you wish to be a successful recruiter, then you have to learn to analyse data to provide the best possible fit for a position. Big data should be augmented with current recruiting practices and not replace it entirely.
Summary:
Big data recruiting can help you identify great candidates faster and in a more cost-efficient. However, you can’t solely rely on the information it provides, it can only guide you. Recruitment experts still need to correctly interpret the results to make better decisions.
Recruit smarter, not harder.
We as RPO leaders always thrive to implement new technologies; by leveraging such modern technology, we were able to deliver our customers more effectively.
If you have not yet leveraged the benefits of HR Data Analytics for your business, it’s time to look out for someone who does. Big data analytics in recruitment has transformed the way of recruitment process, saving you time and money as well as ensuring better hire quality
At Pragna, our vision, is to deliver good number of benefits to our Customers, when compared to traditional managed service
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by Raghu Nandhan | Mar 15, 2019 | Blog, Recruitment Technology, Talent Acquisition
Can you answer these questions?
- How many contractors do you use? How many suppliers?
- Are your labour rates at true market price or better?
- What percentages of your contract spend goes through preferred suppliers?
Drawing a blank? If you are not sure what the answers are, that’s OK. It’s likely that you are either new to using a vendor management system or you are currently researching VMS solutions for possible implementation. If you’re not familiar with VMS solutions at all, you’re in for a treat.
Today more than 45 percent of the world’s total workforce has become contingent workers. That includes temporary workers, independent contractors, SOW-based labour, and freelancers.
Most organisations report that they expect their need for non-employee workers to grow more in near future. The problem is that every other organisation is looking for non-employee workers to grow their businesses. So how can you source and manage your extended workforce effectively and efficiently so that you don’t lose the war for talent?
The short answer: VMS.
The way organisations employ workers has shifted away from the full-time employees of yesteryear to a workforce of contingent workers that offer their specialties on a project-by-project basis.
The contingent workforce has significant benefits for the plethora of companies adopting this modern way of hiring. However, those who are hiring contingent workers but are still using manual processes and outdated automation tools to manage their workforce, will not be realizing those benefits, and could in fact be losing out.
This is why a vendor management system (VMS) is fundamental to the success of your contingent workforce management strategy.
The first step is to understand the five core benefits of a VMS—for both procurement and HR. Those benefits include:
- Cost Effective: Contingent workforce expenditures rank among the top spend categories in most organisations. Perhaps more troubling is the fact that most contingent labour is not taken into account when conducting financial planning, forecasting, and budgeting. That means that you may be spending more than you should. In fact, VMS user’s report 80 percent higher year-over-year cost savings compared to non-VMS organisations.
- Clarity: Lack of clarity is one of the key reasons organisations do not know what they are spending on contingent workers. Ardent Partners research indicates that organisations only maintain visibility into 45 percent of their total contingent workforce.
- Compliance:When it comes to contingent workers, if you do not know “who” is doing “what,” “where” they’re doing it, and “how” it is being done, you are setting yourself up for failure. Two important examples that come to mind are misclassification of non-employees and allowing unauthorised individuals access to systems or facilities.
- Quality Matters: The entire goal of leveraging the contingent workforce is to attract, retain, and utilize the best possible talent. A VMS can reduce time to fill and expand your access to quality talent. Some vendor management systems even allow you to source talent directly from the VMS!
- Efficiency: A VMS also drives efficiency by allowing you to automate procurement cycles, consolidate billing, and ensure invoice accuracy. It also makes it easier to measure and monitor your supplier performance. That will help ensure process and performance consistency.
Remodelling VMS Requirements
Today’s organisations increasingly need VMS software to manage both contingent workers hired as individuals and external companies doing project-related work. Many also have a greater need to stay compliant with international labour and tax laws surrounding global use of contingent staff.
HR and procurement leaders should use some key criteria if deciding to switch VMS providers or invest in a new system
- Support for Statement-of-Work Contracting
One of the keys buying considerations today is whether the VMS will be able to support you as you move from using it for the selection and tracking of contingent workers, to the selection and tracking of project consultants
Managing project work is more complex largely because of the different pricing mechanisms involved. Payment in these arrangements is not only time-based, it might also be milestones-based, deliverable’s – based or tied into performance on service level agreements. You’d like to be able to use the same software tool when you have the need for an individual contractor as well as a consulting company.
- Ease of Integration with Existing Systems
A VMS should integrate well with your existing technology platforms or processes for managing contingent staff. Many companies have reaped benefits from integrating its VMS with a core human resource information system, purchase order request system, supplier relationship management system and a security system for contract workers.
The integration reduces multiple steps from multiple systems and put them all into one easy-to-use, one-stop platform.
- Robustness of Analytics Tools, Bench-marking Data
The quality of reporting tools also separates VMS providers. One key metric is a time-and-tenure report that ensures contingent workers don’t work beyond the specified limit for co-employment.
- Vendor Neutrality
Vendor-neutrality means the system isn’t provided by a VMS owner who will steer you to contingent resources which may not always be the best or most cost-effective. This can be a concern if the VMS provider also has other contingent staffing services under its organisational umbrella.
Hopefully, we’ve covered all the basics of vendor management systems and you have a good idea of what to look for in a VMS.
At Pragna, we have the experienced team who understand the fast paced VMS environment and can submit potential candidates within a few hours of receiving the job orders. We have a good track record of supporting many customers with VMS support services and understand the nuances of working with such a system.
We at Pragna expertise in providing Customized RPO, Offshore Recruiting Service pertaining to all the Industry verticals, We strive hard to apply best practices, proven methodologies, and additional levels of diligence to improve the quality of our services.
A blend of ground-breaking ideas, detailed approach, and quality-oriented delivery has positioned us as a leader in the Recruitment process outsourcing (RPO) industry.
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