In yesterday’s Advisor, we reviewed four recruiting trends we’ve been seeing in 2016. Remember: knowing about recruiting trends can help keep you from being caught off guard when these impact your organization, and it can help you plan in advance.
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Now let’s take a look at two more of these trends.
- Employers turn their recruiting focus inward to current employees. This point is applicable in multiple ways. For one, with top talent harder to come by, employers are focusing more and more on retention—it’s better to keep a good employee than to try to find a new one. Employee retention efforts are critical.
Another way employers are focusing on current employees is to tap their existing workforce for referrals. A referral program can benefit both the employee and employer. The employee can benefit from a referral bonus, and the employer can benefit from a shortened time to hire. New employees who were brought on board from a referral also often have a higher success rate in terms of retention and performance.
Yet another way employers are focusing on current employees is to pay attention to the talent already on board when it comes to filling open positions. Internal candidates are easier to find when the organization has an employee development plan in place and knows employee career goals. For top positions, succession planning also plays a role.
- Data and analytics aid decisions. As we gain more and more data, we can make more data-based decisions. One of the latest trends in recruiting data is the shift to assessing quality of hire. In the past, simpler metrics like time to hire and cost per hire were the norm—and there’s certainly still a place for them—but lately they’re joined by more qualitative data that assess whether new hires were a good fit and provide an appropriate return on investment for their capabilities. Recruiting teams are relying more on data curated from new employee surveys and info from managers outlining satisfaction levels with their new team members.
The caveat here, of course, is qualitative data is notoriously difficult to quantify and to get consistency with; be wary of using data that may not be accurate. That said, if you can get quality data outlining the profiles of candidates who became key talent in the organization in a short time, this information can be used to improve future recruiting.
Have you been seeing these trends play out in the market so far this year? Let us know in the comments what other trends you’re seeing in today’s recruiting environment!