Trends in Recruiting and Retention

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Dale Caldwell
6 years ago
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1 Trends in Recruiting and Retention June 29, #WFBCON16 Patty Cox Digital Marketing Veteran Former LinkedIn Executive Executive-in-Residence and Adjunct Professor, Northwood University Recruiting and Retention Trends 1

content share skills, experiences, examples Recruiters can search the web

fit Links to social platforms and other tools make communication,

Mobile accessibility is a requirement so is speed Candidates can access

trend in short job postings to grab prospective employee interest About

used a smartphone as part of a job search.

email, text, messaging 60% of prospects have quit the application process

largest search engine online is YouTube Used by recruiters as branding

2 6/26/ Top Recruiting Trends 1. Paper resume is replaced by digital candidate portfolios So much more content share skills, experiences, examples Recruiters can search the web for ALL content about a candidate do a better job of sizing up skills and fit Links to social platforms and other tools make communication, networking and referrals easier 5 Top Recruiting Trends (cont.) 2. Mobile accessibility is a requirement so is speed Candidates can access your job posting and employer content 24/7 Social platforms are seeing a trend in short job postings to grab prospective employee interest About 28 percent of job seekers including 53 percent of 18- to 29-yearolds have used a smartphone as part of a job search. Apps allow job applicants to submit to posting from mobile devices enable , text, messaging 60% of prospects have quit the application process because it took too long (Google/MS ~ 4 steps) 5 Top Recruiting Trends (cont.) 3. Video is becoming an important tactic Used by candidates to search second largest search engine online is YouTube Used by recruiters as branding tools invest in video assets to sell your company Used by hiring mangers via webcam or Skype to conduct interviews streamline, cost savings, remote candidates Videos are shared 12x more than text and link posts combined 2

Key hiring factors High performing HR employees/hiring manager Provides insights into process effectiveness that can drive down time and cost Increase

make good use of the data at their disposal 5 Top Recruiting Trends (cont.) 5. Investment in employer branding as a hiring asset is on the rise.

impression of a prospective employer is their online presence including social sites New hires are 40% less likely to leave in the first 6 months at

3 5 Top Recruiting Trends (cont.) 4. Increasing use of data for talent analytics Data can provide information about: Best candidates, best skills Best sources for acquisition and retention Key hiring factors High performing HR employees/hiring manager Provides insights into process effectiveness that can drive down time and cost Increase retention rates Improved culture fit Create a pipeline of potential candidates A 2105 study by Jibe found that only 24% of top recruiters believe they make good use of the data at their disposal 5 Top Recruiting Trends (cont.) 5. Investment in employer branding as a hiring asset is on the rise. LinkedIn s latest career survey shows: 75% of job seekers consider an employer s brand before applying 52% of job seekers say that their first impression of a prospective employer is their online presence including social sites New hires are 40% less likely to leave in the first 6 months at employers with strong branding Recruitment Trends A couple other key factors Competition is high both passive and active candidates are open to opportunities (up to 30% of the workforce!) Referrals will play an increasing role in finding candidates (some studies indicate as high as 50%) 3

4 5 Top Retention Trends 1. Investment in employee engagement to improve culture and retention Not just about making a company a great place to work Increases daily engagement and job satisfaction, purpose Need to be always on Not just annual reviews, but more frequent Not just exit interviews, but stay interviews Three levels of engagement (teams and individuals) Create Measure Monitor Consider linking engagement to compensation for appropriate roles 5 Top Retention Trends (cont.) 2. Increased focus on internal hires When asked by LinkedIn, companies called out employee retention as their #1 priority 38% Only 12% said that internal hiring and transfers was top priority When asked what best describes their company internal recruiting efforts, they said: Employee replacement costs for low-mid range employees is 15-20% of annual salary 5 Top Retention Trends (cont.) 3. Increase in Boomerangs 50% of employees would consider going back to a former employer (and experience less anxiety around job change) Familiar with structure, and bring back new skills Only 1/3 2/3 the cost of a new hire 76% of managers are more accepting of hiring a former employee Infrastructure to maintain a rehire pipeline Active growth of alumni events 4

Management found that HR professionals recognize the positive benefits of flexibility: 68% say it positively affects work/life balance 91% say it positively

hire and retain key employees Lack of balance will cause 1 in 4 workers to seek new employment 5 Top Retention Trends (cont.) 5.

in a world of customized experiences Rewards for doing their own tasks well Rewards that recognize personal time as important (not about climbing the ladder)

5 5 Top Retention Trends (cont.) 4. Increased flexibility and balance 67% of employers feel workers have work-life balance, 45% of employees disagree A study by the Society for Human Resource Management found that HR professionals recognize the positive benefits of flexibility: 68% say it positively affects work/life balance 91% say it positively affects satisfaction and engagement 89% say it has a positive impact on retention 64% of small businesses say that offering a flexible work option has helped to hire and retain key employees Lack of balance will cause 1 in 4 workers to seek new employment 5 Top Retention Trends (cont.) 5. Investing in Millennials Largest workforce segment (skilled and unskilled) Self-focused (not selfish) work ethic means motivating millennials differently grew up in a world of customized experiences Rewards for doing their own tasks well Rewards that recognize personal time as important (not about climbing the ladder) Individualized plans Time is currency Have short term plans and rewards more about the present Face time is not as important this is a tech-enabled workforce generation Approach as a tour of duty with defined (joint) goals then offer the next challenge Important to balance the individual need with corporate need ask and engage Social Recruiting 5

6 Social Recruiting A recent SHRM study found that: The use of social media for recruiting has grown 54% over the past 5 years 82% of respondents reported leveraging social media to recruit managers 87% said they recruit other salaried employees using social platforms 79% of job seekers use social media in their job search This figure increases to 86% for younger job seekers who are in the first 10 years of their careers 73% of year olds found their last job through a social network About 1 in 5 have applied for a job they learned about through social media 59% of recruiters rated candidates sourced from social networks as highest quality Recruiters and Hiring Managers Studies show that implementing social recruiting leads to improved recruiting metrics: Quality of candidates - 44% Quantity of candidates - 44% Time-to-Hire - 34% Employee referrals - 30% Jobvite, 2015 Job Seekers Social platforms are used differently by different audiences Jobvite,

7 6/26/2016 Case Studies L Oreal (B2C) Facebook Global Careers page showcasing stories from all markets Specific tab for job postings Saved search alert feature to track new jobs Successful internship programs via FB social recruiting app Case Studies L Oreal (B2C) (cont.) LinkedIn Brand page plus a Careers page Video content on what it s like to work at L Oreal Saved search feature and prospects can follow you Separate pages for job listing option to link to website application process or use API to apply with LI profile Case Studies L Oreal (B2C) (cont.) Twitter US recruiting page links to website careers page Showcase on interns Content on women in science Country-specific pages Job posting included in content thread 7

8 6/26/2016 Case Studies L Oreal (B2C) (cont.) YouTube Specific Careers at L Oreal page separate from brand channel Features Experience 1 Minute video series showcasing employees from different functional areas of the company Also Who You Can Be and Get Inspired videos all featuring employees Case Studies Hubspot (B2B) Facebook Leverage brand page to showcase career content such as Best Place To Work awards, employee videos Specific tab for job postings powered by Jobvite API Saved search alerts Link to website careers page Case Studies Hubspot (B2B) (cont.) LinkedIn Brand page plus a Careers page Video content on culture and opportunities Employee Spotlight feature link to profile, see experience, connect Saved search feature and prospects can follow you Separate pages for job postings save and track while job seeking 8

@hubspotjobs Case Studies Hubspot (B2B) (cont.

9 6/26/2016 Case Studies Hubspot (B2B) (cont.) Twitter Leverage brand page to push career content Link to website career page special capture for Slack Team interaction Specific page/handle for Hubspot job Case Studies Hubspot (B2B) (cont.) YouTube Hubspot s main channel highlights culture Hubspot Career Stories video playlist features 20+ employee videos spanning different career roles Some follow from home to office with day in the life theme Unique We re Hiring videos with link to website postings Case Studies Hubspot (B2B) Pinterest?? Might not expect to see a B2B play here Educational/ helpful business content Career-related content Culture content Be where your audience is 9

10 Q & A Brought to you by the TCA Recruitment & Retention Human Resources #WFBCON16 10

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