It's Time to Rethink your Recruiting Strategies to Hire a Quality Talent Pool

This article has been contributed by Ms. Ramani Ganesh, HR Head, Hirect.

Hiring best-fitted employees is a challenging task today, and the pandemic has made it even further challenging. Recruiters face numerous challenges, which need to be addressed with the right level of skill and expertise.

It is difficult for traditional recruiting techniques to keep up with changing skill demands, which is one of the large-scale transitions presently occurring in the workplace. The neck-to-neck competition prevailing in every industry has prompted companies to rethink their recruitment strategies to hire the best talent available.

The Paradigm Shift in Recruitment Strategies
Concentrate your Recruitment Efforts on Acquiring New Talents
Target the Overall Economy for Skills
Ensure that EVPs are Responsive During the Recruitment Process
Redefine the Hiring Process with the Use of AI

The Paradigm Shift in Recruitment Strategies

Talent acquisition has already broken the conventional barriers and traditional hiring methods are already obsolete. In addition to replacing workers, it also looks at influencing them by identifying the skills required, finding workers more broadly, and creating customized employment value propositions.

The recruitment strategy has a more substantial role to play in any organization, and it ensures that the most qualified candidates are exposed to the appropriate positions in your organization. In this world of automation, mere technical proficiency does not accomplish this purpose.

The recruitment industry is also undergoing an exponential change, which challenges founders, HRs, and talent acquisition heads to achieve accelerated growth. In this competitive market, dominated by candidates, streamlining the hiring process is the best option.

Recruiting strategies have to also adapt to the changing environment, as technology is evolving very frequently. They must adapt to the changing needs of organizations and candidates to remain competitive.

A robust recruiting strategy is crucial today, especially in a candidate-driven market. To expedite the hiring process and guarantee that you can garner the attention of the right candidate effectively, companies should devise a comprehensive recruiting strategy. Designing a recruitment approach is an effective means to reevaluate and optimize the recruiting practices.

According to a recent survey conducted by a top consulting firm, 40% of hiring managers were not entirely satisfied with their latest hires. They felt that these hires also failed to upgrade their team's skillset necessary to overcome the impending challenges. The study found that only 29% of candidates came equipped with the requisite competencies. Additionally, only 16% of the newly hired staff was equipped with the skills they could use in their jobs for the foreseeable future.

Organizations have also switched their focus from replacing the workers to empowering them so that they could easily acquire these new skill sets and influence the Employee Value Proposition of their companies.

Organizations can implement these four key changes to their recruitment strategies. These are:

• Employers should lay strong emphasis on skills and competencies, other than the hiring profiles.
• Examine the whole skills market rather than just unknown talent pools.
• Companies should create responsive EVPs, not just responsive candidates.
• Leverage Artificial Intelligence to hire the best and most qualified candidates.

Companies investing in these workforce development strategies can see a 24 % increase in hiring quality without spending a fortune on recruitment.

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Concentrate your Recruitment Efforts on Acquiring New Talents

Today, companies are relying less on applicant profiles and placing more emphasis on the critical skills and specialization that are required to perform the job. To be effective at this new process, recruiters should assess skills abiding by the organization's long-term strategy.

Innovative companies utilize advanced technologies and human intelligence to map future skill needs and to empower recruiters with this information. This aligns the recruiters with the job strategies along with the company's overall vision and mission.

Target the Overall Economy for Skills

To expose the entire talent market, leading companies need to analyze how their current sourcing strategies and processes inhibit access to quality candidates. Leaders in HR should also evaluate their entire talent acquisition process in order to identify practices that favour certain categories of talent over others.

Ensure that EVPs are Responsive During the Recruitment Process

Adapting to the ever-evolving candidate expectations, these best organizations leverage the labour market insights, direct candidate feedback, competitor EVP (Employment Value Propositions), and employee needs to modify their EVPs to today's environment. Progressive organizations also employ these insights to guide job design and new employee experience initiatives.

Redefine the Hiring Process with the Use of AI

Recruiting new employees is a labour-intensive procedure, spanning from screening to onboarding. This process is now more efficient with the use of AI. With the help of AI-based technologies, it is possible to increase recruiting efficiency, automate routine tasks, and gain access to a global talent pool. It is a very new concept, but so far has proven to be exceptionally effective in identifying potential candidates with the right skill sets.

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Conclusion

It’s the best time to overhaul the entire recruitment process to hire qualified professionals. Finding the perfect employees can be time-consuming and costly. Fortunately, this does not have to be the case.

With this approach to hiring, a company can attract high-quality candidates best suited for the key positions within the company. Employing qualified talent saves time and money. This simple equation can completely transform the recruiting process, enabling the companies to manage the hiring process more.

An effective hiring strategy can decrease the time required to fill a vacancy by 50%. Taking this step will boost the potential to engage qualified candidates and make more informed hiring decisions.