Modern-day recruiters face a new set of challenges stemming from a variety of factors. There’s the pressure of keeping abreast with fast-changing technologies. In some nations, an aging population is a trend that recruiters and businesses have to contend with, not to mention several underlying factors in the social and economic landscape.
It’s quite common for millennial candidates, for example, to jump ship and start looking for a new job within three years or less of their employment. Some statistics say that close to 60% of millennials may have this kind of mindset. Then again, in countries with unemployment rates that only go slightly beyond 5%, recruiters might find the lack of active candidates a huge challenge.
Altogether, these difficulties spell the need for companies to revisit their hiring techniques – what’s working and what’s not, what improvements need to be made, or when’s the time to replace old recruitment solutions with new ones.
A lot of planning and expending of resources may take toll on the business in the long run, especially if these problems remain unresolved. With this in mind, we give you a rundown of the top 5 problems faced by recruiters, as well as possible solutions for each of them.
1. Finding the right candidates
Companies cannot overemphasize the need for recruiters to make sure that they are getting the right candidates for them. Not only are bad hires costly (approximately twice the salary paid to a worker who leaves within a year of employment), but they also say something about the efficiency of recruitment teams.
One workaround to this problem is to have a contract worker take on the vacant role temporarily until the right candidate is found.
You can also leverage machine learning technologies to help you narrow your candidate search. Although machine learning does not automatically select the best candidate for you, it’s a great tool that lets you sort tons of data about candidate profile, background, work history, and the like to have higher chances of finding a better match for your offerings.
2. Balancing speed and quality
Achieving speed and quality of hire is yet another challenge. It’s not uncommon for recruiters to want to hire an applicant as fast as possible. Then again, finding the right candidate can take time.
On the other hand, a speedy recruitment may also prove to be quite daunting considering the competition from other industry players who might have an edge in getting to the top talent first. By replacing your traditional recruitment strategies and shifting to more automated tools and processes such as ThisWay Global’s machine learning algorithms, you have a better chance of finding the best candidates quickly and more efficiently.
This is where machine learning comes into play, as it changes the way recruiting is done by offering both the benefits of speed and quality. Imagine how much time it would take you to filter through thousands of connections on LinkedIn trying to look for patterns in your candidates’ data. Machine learning’s various pattern recognition processes are definitely easing up HR workload in terms of time spent, effort, and quality of results produced.
3. Shortage of great talents
If there’s one suitable candidate for every five to ten job openings, you already know where it would lead to: shortage of great talents.
Recruiters find themselves mired in a war for top talent and end up losing in the competition unless the right applicant strategies are put into place. If you find your organization in this situation, a data-driven approach may be the missing link that can help you identify the best places to find your ideal candidate, and ThisWay Global can help you find great talent. Again, through their machine learning algorithms.
4. Outdated search tools/recruitment strategies
Sad to say, some firms commit common pitfalls in the recruitment industry by either not having a clear, purposeful direction in their employment strategy or keeping an old one at that. Both are equally perilous, as they are like a switch to a sure demise.
To prevent your business from this unpleasant scenario, make sure to stay current with your recruitment tools and techniques. The majority of recruiters are now turning to social and mobile platforms to find their next candidates, so this should be on top of your priority too. You’ll be surprised how going social will expand your reach with your talent pool.
Should you decide to use tools, consider ThisWay Global’s machine learning algorithms since they offer the most up-to-date system that addresses all your hiring needs.
5. Closing candidates with multiple offers
Sometimes, you come across candidates who decline your job offer on the advanced stages of the recruitment process due to a better prospect with other companies. This can be a great disappointment since it means the time and resources you have expended may just go to waste after all. Plus, you’ll be starting the recruitment process all over again.
Fortunately, you can make the prospect of working for your company look much better at the outset of the hiring process, and in effect, encourage your candidate to give serious thought to pursuing and completing their job application with you.
The bottom line is to provide candidates a pleasant experience all throughout—from easy navigation to your career site to designing candidate-friendly interviews and assessments, as well as meaningful interactions with officers representing the company.
By using GPS, a tool created by ThisWay Global, this issue can be resolved since algorithms will take all this information into consideration. Further, GPS provides a private user journey for the individuals, which enables them to be more honest and transparent from the off.
These and many other challenges should not dishearten you from keeping a positive stance on hiring. With a good strategy in place, you’ll find it easier to have all those possible hurdles out of your way. Actively seek new technologies and ask for advice from experts.
ThisWay Global will be more than happy to share with you how their technology can enhance your recruitment functions and make your service really count to clients.