One of the biggest transformations in the recruiting landscape has been the leveling of the playing field, as big corporations compete with lavishly funded start-ups to attract quality talent. Recruiting is complex today as money is no longer a guarantor of being able to attract the best and brightest of talent nor is a good brand name sufficient. Recruiting is now as much about the ability to leverage technology to reach the right candidate as it is about good old fashioned selling the company to the candidate.
Technology has changed recruiting landscape dramatically, placing greater power in the hands of candidates than ever before. Some of the major trends impacting the recruiting industry today stem directly from the new technologies that have changed the way employers and candidates interact with each other. We have gathered together 5 trends that will dominate the recruiting landscape in 2015 and beyond that as well.
Social Recruiting is going to get bigger and bigger
Recruiting is increasingly going social as social professional networks become the main source of sourcing quality candidates. Infact LinkedIn’s 4th Annual Report of the Recruiting Trends in India in 2015 lists social recruiting as one of the key trends influencing recruiting for 2015 with 73% of recruiters planning to invest more time and money on social recruiting.
Employee Referrals will grow in size and importance
Employee referrals will gain in importance with top global organization look at recruiting at least 50% of their new hires through employee referrals. The reason for the growing popularity of employee referrals will be more as a source of sourcing passive talent that would not otherwise be accessible to the organization.
Recruiting will increasingly rely on hard number based data to make decisions
As with all other business decisions, data will increasingly drive recruiting decisions as well as technology makes it possible to track the cost effectiveness and efficiency of different sourcing methods and techniques
Employer branding will be a key pull factor for candidates
LinkedIn’s 2015 Global Recruiting Trends cited a good 56% of respondents globally confirming that a good employer brand helps with recruiting and creating a good talent brand would be a key area of priority for them to attract good talent in the current year. LinkedIn research in fact suggests that a good employer brand can help reduce cost per hire by as much as 50% as well as keep attrition rates low. Organizations are already using social media as a marketing tool to promote their products and services, the current year will see an increasing use of social media to promote the organization culture, values, employee philosophy etc to create and strengthen the image of an employer of choice.
Passive candidates will be targeted equally if not more than active candidates by employers
The gap between active and passive candidates will narrow considerably as organizations will leverage both social media and employee connections to reach out to passive candidates in their bid to hire the best talent in the market. While traditionally recruiting has always focused on attracting active candidates to join the organization, recruiters will increasingly focus on sourcing passive candidates as well to make up talent shortage in the market.
The recruiting trends for 2015 clearly bring out one important fact, namely that power is increasingly shifting in the hands of the candidates as technology opens up newer avenues of employment entrepreneurship.