5 Market Insights To Develop An Effective Recruitment Strategy

An effective recruitment process is an integral part of running any business; no matter if you are a small business owner, a hiring manager, an HR professional, or the CEO of a large company, you will have to recruit at some point for your organization. The most successful recruitment strategies and recruiting software depend upon your business’s unique needs and the type of candidate you’re trying to hire for the position.

Today’s environment of economic instability has impacted recruiting in multiple ways. As a result, recruitment leaders are struggling to keep up with hiring quality talent.

In this blog, we bring you 5 strong effective ways to develop a recruitment strategy to get the desired results.

Develop an Effective Recruitment Plan With Data and Metrics

Several tools are needed to manage a talent pool. The most famous way is to maintain a talent pool through an applicant tracking system (ATS). An ATS will give access to the candidate’s records who have already been added to the database. The tool can be used for connecting with the most recent candidate files, as a starting point for connecting with people, asking them for referrals, and developing market intelligence.

You can also take help from departments like Marketing to create a compelling career webpage that will reflect on your company’s website. This will help promote brand awareness and will increase visibility. Also, having a dedicated career page brings authenticity to the overall company’s image.

Most importantly, defining KPI’s for your recruitment process will further quantify your overall efforts in the process.

Create a candidate persona for hard-to-fill roles

In the recruitment process, the world is experiencing macro shifts and it has become more challenging for our fundamental assumptions of traditional recruiting methods.  In fact, nearly 3,000 candidates and more than 3,500 hiring managers were surveyed by Gartner on their experiences and expectations of the hiring process and recruiting function in order to better understand how recruiting leaders can effectively shape the workforce and meet changing business needs. Amid this, engaging in a passive recruitment strategy can help to reach out to the candidates personally and will be useful for filling hard-to-fill roles. It should definitely be one of the methods companies should adopt in your talent acquisition strategy. Doing so will show that you are truly interested in their profiles and want to grab their attention.

Implement an employee referral program

Employee referral programs help to get pre-vetted candidates and companies’ recruitment teams will have to apply minimal effort. Referral programs also often improve the most important recruiting metrics such as – time to hire, cost per hire, quality of hire, and retention rate.

Some ATS platforms, like Workable, come with an employee referral tool embedded in your HR system that makes it easy to gather employee referrals and reward them for their recommendations within the organization.

Specialized Platforms and Websites Can Help Identify Talent Pools

Most recruiters have their go-to channels to find candidates. More than half, 52%, say they first turn to their professional network, and 28% say they first turn to LinkedIn. But why stop there, when there are plenty of other websites/social media platforms for hiring that can be dived into to find the candidates? To implement this, candidates should be reached out on messages on less conventional websites. For example, check out Triplebyte if you’re looking for engineers, Hired for tech talent, and Underdog if you’re hiring for a startup. These sites can yield unique information that provides good fodder for personalized outreach.

Use a Content-Based Strategy as Your Employer Branding Approach

Outreach candidates for your company can be made more effective when your content is powerful and attractive. One basic thumb rule that can be applied – make your messaging more candidate-focused. View it as a way to offer superior customer service to your prospective candidates. Address their needs, demands, and wants. The message should target the candidate’s goals, not your company’s. Effective communication turns the tables on traditional hiring methods and makes your talent the priority.

Conclusion

As you near the end of your read, we hope this guide on ‘Market Insights To Develop An Effective Recruitment Strategy’ has proved beneficial to you and brought you a deeper understanding of how market insights can positively impact an organization’s recruitment game. Understanding these strategies alongside learnings from common recruiting mistakes can enhance your recruitment effectiveness

Let’s quickly recap:

• Data metrics can be a game changer when it comes to effective recruitment, as you can calculate the performance.
• Considering a passive recruitment strategy can help you fill the ‘hard-to-fill’ positions.
• Referral programs help to save the company’s time and apply minimal efforts in recruitment, as they get data of pre-vetted candidates.
• Content-based strategy will help to attract more eyeballs to the job posting you do.

Effective communication can turn the tables on traditional hiring methods and makes your talent the priority.

NLB Services