“Hiring the best is your most important task,” said Steve Jobs.
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Businesses spend $400+ billion a year on recruiting. $400+ billion! Why? Because the talent of your employees – moreso than any other variable – will determine a company’s bottomline. Sometimes hiring managers are battling for best (as they should be)… and other times, hiring managers are just settling for the first ‘acceptable’ candidate.
47% say finding quality candidates is too difficult. This means hiring managers do not have enough candidates to choose from. This infographic by SmartRecruiters explains the state of hiring, and hints at that trends that are poised to make hiring more efficient.
When it comes to sourcing, great hiring managers don’t just hire the first ’acceptable’ candidate. Quality of hire is driven by sourcing analytics, timely and purposeful engagement with candidates, as well as, the proper qualitative and quantitative assessment of candidates. It’s tough! Hiring managers admit, 20% of hires were ‘bad hires and never should have been hired in the first place.’
When it comes to attracting talent, businesses need to be smarter. Which sourcing channels have produced my top performing professionals? Which position has the lowest and highest candidate to interview rate? How about interview to hire rate? Businesses must measure and learn from the performance of past talent sourcing efforts.
This means leveraging new technology, such as mobile. Mobile career pages and job ads allows for candidates to engage with companies from their mobile devices. From 2012 to 2014, the adoption of mobile career sites increased by over 65%, but 80% of companies still don’t have a mobile optimized career site!
Last but not least, when the best candidate is on your shortlist, do you know it? Candidate assessment is one of the toughest challenges a business faces. What do your colleagues think of this candidate? What insights do behavioral, personality, and skills assessments give you? Leave no stone unturned.
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