According to the United States Bureau of Labor Statistics, the June employment report marks the fourth consecutive month of job growth. With the unemployment rate falling to 6.3% (as of March 20, 2015 the unemployment rate is 5.5%), less people are scrambling for a job.In fact, 1.4 million new jobs have been created between January and June of 2014. This is the largest gain seen since 2006 (The Economist, July 19 – 25, 2014, p. 22).
With fewer job seekers on the market, recruiting qualified candidates becomes more difficult. Employers must now begin to consider including relocation, wage increases, and employee engagement tactics into their recruitment strategy.
Employers must now consider offering relocation assistance to qualified job applicants, particularly to applicants with specialized skill sets. Relocation assistance now needs to be part of an employer’s recruitment strategy even for hourly and non-senior roles.
Economic growth triggers recruitment challenges for employers. Various industries including education and health services, finance, leisure and hospitality, professional and business services, and manufacturing have recorded employment gains in June. Companies that need to hire individuals with specialized skill sets or particular expertise such as bilingual fluency or computer programming are most affected.
With unemployment rates as low as 3% in some parts of the U.S., the pool of available talent is much smaller than it was several years ago. Employers now need to look outside of their local job market to fill their job openings.
Relocation has most often been limited to those in the most senior level roles. However, the largest employment growth has been seen in hourly and junior level roles. This places new pressures on employers who need individuals with specialized skill sets that may be scarce or in high demand in their local markets. For example, employers who need bilingual customer service representatives or I.T. technical support representatives, or need individuals with any type of specialized skill set will need to offer some type of relocation assistance. Otherwise, they risk not filling their open positions.
Candidates who are not actively seeking jobs, also known as passive candidates, are even harder for employers to attract. Passive candidates are gainfully employed and, as such, require significant incentives to resign their current position. Higher wages are an obvious motivator. However, given the fact that the majority of new jobs created have been for low wage earners, these individuals are particularly attracted to opportunities offering better work-life balances and career advancement opportunities.
Do Something Different to? Motivate Candidates To Apply:
While incentives attract the candidate,they only work if candidates are aware of them. Placing job ads and waiting for candidates to apply is no longer sufficient. With so many job ads and social media campaigns being conducted, employers need to get creative in how they capture job candidates’ attention.
During the holidays, we created a “Use Your Resume to Fight Hunger Campaign.” For every qualified application received, we donated much needed food to the Salvation Army. This campaign brought thousands of unique applicants to our client. Candidates went the extra step to complete the application process because they felt they were using their time and resume for a good cause while pursuing a career-growth opportunity.
With the growing numbers of new jobs being created and a rapidly decreasing unemployment rate, employers need to consider the above factors in their recruitment plans. By rethinking their approach, employers can get the attention of top talent in an economy with dwindling supply. As a Recruitment Process Outsourcing provider, we not only find, attract and assess talent but provide counsel to companies on ways to make job opportunities appealing to the talent they need.
Are you considering outsourcing the recruiting process and trying to determine if it makes sense from a financial perspective? In order to make a proper analysis, organizations that are looking at the option of Recruitment Process Outsourcing (RPO) services need to compare their own costs to those expenses related to RPO. During this analysis, there is a need to dig deep into the data to answer the big question of Return On Investment (ROI). What does it truly cost to deliver recruitment services to an organization and what is the return on that investment to that organization?
A cost-per-hire (CPH) or a Recruitment Cost Ratio (RCR) capture only a portion of the relevant costs – although in theory should include all costs. Costs are more than just agency fees, advertising, and career fairs. Costs include payroll, taxes, and fringe benefits of staff, training and travel costs, office costs (telephone, internet, etc.), technology and software, legal and IT support services and dont forget the actual costs of the office space itself.
To identify all costs its often useful to answer the question: If the recruitment function was a stand alone company how much money would you need to operate it?
Once you have identified all your costs, the more important question of return can be answered. Did the investment yield an acceptable return while at the same time meet desired standards of quality of candidates, timeliness of hires and quantity of staff acquired? Can you receive a better return elsewhere (i.e., by outsourcing to an RPO)?
When answering the ROI question, the analysis often suggests that certain functions or levels are better outsourced while others are best performed in-house.
When it comes to deciding if and what to outsource, we believe the ROI metric is an important measurement to consider.
What are your views and experiences? Has your organization gone through this process for recruiting or other functions?
Employee satisfaction has a strong influence on retention. Did you know that organizations with high turnover typically have large numbers of dissatisfiedworkers? Where does all this dissatisfaction come from? It comes from individuals expectations of the employer not being met. The good news is that through upfront communication, retention and employee satisfaction can be increased.
What Can You Do To Increase Retention During the Hiring Process?
During the selection process, candidates should receive an accurate portrayal of what it is like to work in your organization. They should be given detailed information on:
Their job tasks and responsibilities.
Their performance expectations.
The work environment and the place(s) they will work, including working hours and who their coworkers are.
The companys code of ethics and workplace norms.
In a tight labor market or in highly competitive industries, employers sometimes feel they need to sell the organization in order to attract candidates, and so they highlight the positives, and minimize (or completely ignore) the negatives. Presenting a balanced picture of both the negative and positive aspects of your organization is a better long-term strategy. It prevents individuals from forming false expectations about your organization and their job that will come back to haunt you later in the form of a dissatisfied employee.
Once hired, employees need to receive and/or witness those things management promised to do or provide. Honesty in employment means that management fully states its intentions, does as it says it will do, openly communicates the risks and potential for shortcomings, states what it expects, and is clear about who gets what for the level of effort, performance, or result that is achieved.
A little increase in the communication of expectations can go a long way in keeping good employees happy and within your organization. What strategies have you used to increase employee retention?
When searching for the ideal candidate for a position, we need a way to evaluate their skills and experience. The common practice for this evaluation is through an interview. However, most candidates do not know that interviews are considered “tests.” As such, they should comply with fair testing standards. One aspect of these standards suggests that test takers should be made aware of the best way to maximize their score. In other words, test takers should be instructed on how they earn and lose points. For example, on the Wonderlic Personnel Test, a popular cognitive ability test, you earn one point for each correct answer and there is no penalty for guessing. Wonderlic also tells you that questions become progressively harder, so you are better off spending time answering early questions, which are easier to answer correctly, than later questions, which are more difficult to answer.
The reason testing standards suggest telling test takers the best strategy for maximizing their test score is because the test should assess only the variables it was designed to validly measure. Unless the test is designed to measure “test taking” skills, it should provide crystal clear instructions on how to do your best. Interestingly enough, when it comes to interviews, candidates rarely ask about the type of interview they will complete or how they will be evaluated from the information obtained during the interview. It’s a mistake not to ask for this information. Knowing the interview type helps you answer questions and display behaviors in a way that best allows the employer to predict your job success prior to hiring you. In addition, you should know how this prediction of your potential job success will be made.
As a recruiter, do you perceive interviews to be tests or is it less abstract than that?
We are happy to announce a recruiting campaign where we will be making donations to The Salvation Army in Tampa, FL for every qualified resume that we receive for job openings with one of our Fortune 100 clients.
To run the campaign, we have partnered with YouGiveGoods.com, which has a platform that hosts online food drives. Anyone who is interested in applying for one of the available positions can contact The WorkPlace Group for more information. To fuel this drive and to encourage people to apply for the positions available, we will make a food donation on behalf of every qualified application it receives.
The Tampa area unemployment rate peaked in February 2010, and the job market has been improving since. Top Talent now has many job choices as competition among employers for talent has significantly increased. Our philosophy is that in order to attract top talent we need to stand-out from the crowd. Use Your Resume to Fight Hunger campaign is one significant way to attract the attention of Top Talent and give back to the local community.
Our client is looking to fill a number of Customer Contact Sales Associate positions. To qualify, applicants must have one year of customer service and sales experience within the past five years, hold a High School diploma or GED and be comfortable navigating through multiple online systems while speaking to customers.
We are thrilled to work with The WorkPlace Group team, said Patrick O’Neill, CEO of YouGiveGoods. We see more and more companies using our website to incorporate giving back with other objectives they are seeking to achieve.
We chose to support The Salvation Army because we believe they are a great organization, and we know that they can use more food to meet their mission of helping the hungry in the greater Tampa area. Our goal is to donate one ton of food to them from our drive.
Our Company has a tradition of giving back. By incorporating a charitable cause into our recruitment strategy, we are inspiring qualified candidates to help the hungry in their community simply by applying to our Customer Contact Sales Associate openings in Tampa. For more information on this campaign, please contact a WorkPlace Group associate.