The recruiting and hiring market is huge—to the tune of $400 billion. Yet businesses still struggle to find, engage, and hire the best candidates.
At SmartRecruiters, we took a look around the industry to better understand why this disconnect remains and what businesses can do to overcome the challenges plaguing their recruiting and hiring process. This infographic explains those pitfalls and proposes four new rules of recruiting.
Many of the problems start with technology: hiring managers and recruiters are typically working in silos with spreadsheets and outdated applicant tracking systems that are clunky and frustrate candidates. These tools leave little room for collaboration among hiring teams and don’t foster engagement with applicants.
A deeper look at the industry reveals several other issues with the recruiting and hiring process, including:
- 48% of candidates drop out of applicant tracking systems when applying for a job.
- 65% of candidates who job search on a mobile device will leave a non-mobile optimized site.
- 42% of candidates who had a bad experience would never seek employment at that company again.
As a result, businesses are losing tens of thousands of dollars due to bad hiring decisions and are missing opportunities to attract the best talent. Add up all these problems, and it’s clear that recruiting and hiring technology is broken.
The good news is, there are ways businesses can overcome these challenges. Central to the solution is making the entire recruiting and hiring process more social, collaborative and transparent. For instance, hiring managers’ social networks can be talent goldmines. Businesses can better connect via mobile to easily access their talent pool fort hiring managers to quickly find great candidates.
Also key is putting candidates first in the recruiting and hiring process. Businesses aren’t the only ones making a decision; so are candidates. That’s why it’s crucial to engage candidates in a positive hiring experience where they feel welcomed and important.
Feel free to share the infographic if it strikes a chord with you and how you’d like to see recruiting and hiring evolve for the benefit of hiring managers, recruiters and candidates all around. It’s time to spark a hiring revolution!
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