The U.S. unemployment rate fell to 3.7 percent in September, the lowest it’s been in almost 50 years, the Bureau of Labor Statistics reports. Low jobless numbers mean many things to the nation, but for recruiters and agency owners, the most important takeaway is this: Competition for talent is set to get fiercer.
Solid candidates are becoming increasingly difficult to find. In fact, 46 percent of employers told Manpower Group that they are struggling to fill open roles. To succeed in 2019 and beyond, recruiters and agency owners alike need to pay even greater attention to the following industry trends. None of these is probably new to you — we’ve been writing about them all year — but if they’re not a priority, it’s time to make them so, or risk falling behind in the new year.
1. Candidate experience
How do job seekers perceive and react to your recruiting and hiring processes? Starting with their first exposure to your agency and continuing through their entire journey, what kind of experience are you providing them?
This is at the heart of the candidate experience. Eighty-three percent of job seekers told LinkedIn that a bad interview experience could cause them to change their mind about a job or organization they once liked. A shaky recruiting process could not only cause candidates to look elsewhere, but they could also share about it on social media, damaging your brand reputation.
Aim to make things simple, seamless and positive. This means:
- Write clear job descriptions
- Simplify the application process
- Give frequent status updates
- Give them post-interview feedback
2. Passive recruiting
A passive candidate is someone who is not actively searching for a new job but is open to hearing about new opportunities. There are a significant number of passive candidates out there, too; Indeed found that 71 percent of employees are at least open to a new opportunity. This makes passive recruiting an important recruiting trend.
Luckily, we can help. Check out the TrackerRMS blog for the five most effective passive candidate recruitment strategies.
3. Automation, artificial intelligence & the human touch
Automation and AI tools help you find, engage and nurture prospects and then convert them into applicants. They streamline the hiring and onboarding processes, freeing recruiters from the more menial tasks to do the work that machines can’t. Increased recruiter efficiency gives a boost to the bottom line — in some cases, by as much as 20 percent.
As the industry continues to adopt automation and AI, those who understand and embrace it will have a distinct advantage over those who do not. Equally prized will be soft skills such as humor, empathy, kindness, and communication and leadership skills. The more we incorporate automation and AI into our daily work lives, the more we need recruiters to be decidedly human.
4. Employee experience
Just like candidate experience is the sum of how job seekers perceive and react to your recruiting and hiring processes, employee experience is the convergence of all the workplace and management practices that affect your recruiters. Organizations that prioritize employee experience are four times as profitable than ones that don’t, according to Harvard Business Review.
If you aren’t already, focus on building and improving employee experience at your agency. This includes creating a positive culture, providing a pleasant workspace, and giving employees access to the top tools and technologies available.
5. Employer branding – Employer branding refers to your firm’s reputation as an employer. It’s your street cred; are you popular as a place to work? Do you provide value to your employees, and do they, in turn, sing your praises in both online and offline forums? Seventy-five percent of candidates consider a company’s brand reputation before applying for a job, and 69 percent said they’d rather go without a job than work for a company with a bad reputation, according to this LinkedIn report.
If you’re not sure what employees are saying about you when you’re not in the room, 2019 should be the year you find out. Start by surveying your employees (anonymously) and reading online reviews. Once you know where you stand, you can go about fixing anything that is subpar. Read our post, What Is Employer Branding and Why Is It Important to Your Recruiting Agency?, for expert advice on improving your employer brand.
Go into 2019 with the best recruiting software on your side
As we get ready to wrap up 2018, ask yourself this: Are you providing your recruiters with the best tools and technology available? Are you empowering them to do and be their best — and to drive profits at recruitment firm?
TrackerRMS is the industry’s leading cloud-based software provider. We combine recruitment, applicant tracking and CRM tools with the highest level of customer support to empower your sales and recruiting teams. Request a demo today.