Proactive Recruiting

March 15, 2010 by · Leave a Comment
Filed under: Recruiting, Recruiting Update 

Over the years, one of the biggest challenges Hire Velocity has faced is communicating the importance of proactive recruiting to our clients. A large majority of US companies approach recruiting from a much more reactive standpoint. For example, many companies fail to build the relationships and talent pipelines they should be building, when hiring is down. Instead, many companies wait until five electrical engineers are needed, and they post jobs expecting to get the five best electrical engineers out there. Although this approach does work occasionally, we have come to find that the best talent is acquired through continuous proactive recruiting. Creating a talent pipeline can enable your company to pick from the best available prospects when the time comes. Generally, companies may view proactive recruiting as the more expensive approach, but the cost of reactive recruiting can reach similar heights while necessarily bringing back the quality talent you’re looking for in a timely manner.

Instead, find a recruiting partner that can build relationships with prospective applicants and passive candidates in order to streamline the hiring process. The University of Illinois at Chicago did a study on proactive recruiting particularly pertaining to finding qualified female candidates. In two different job searches for the same position, proactive recruiting nearly doubled the number of qualified applicants and showed a huge increase in the number of female applicants. Proactive recruiting was defined as an aggressive search for talent rather than a simple job post.

In recent years, Technology has eased the pains of creating an effective proactive recruiting process. Applicant tracking systems such as Silk Road’s Open Hire, iCims, and Taleo, (for example) have enabled companies to build robust talent pools and ease the process of finding qualified passive candidates. Leveraging the right technologies can create the infrastructure and foundation needed to lower your recruiting costs and enhance your recruiting process. Thus, it’s essential to look past the “reactive” recruiting methods such as job postings, and create a proactive recruiting process that will build a much more qualified talent pool.

Finally, remember that it is always a good practice to continuously promote your brand from a recruiting perspective.   Your career site is the door to your company and should display the goals, values and culture of your company.  Once you do proactively get the candidate to your front door, make sure you leave a great impression!

Byron West
President

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The Importance of Diversity Recruiting

March 4, 2010 by · 5 Comments
Filed under: Diversity Recruiting 

Most American companies view recruiting diversity as a burden for business, unrelated to the idea of having diversity in the workplace but rather the hassle associated with finding diversity candidates. It’s no secret that diversity recruiting is not a common result of the standard recruiting process. Many companies find that diversity candidates are not resembled in the majority of resumes on Monster, Careerbuilder, and other large job sites. However, there are overwhelming benefits to integrating a diversity of cultures in the office. Several companies have found first hand that the diversity of culture has led to several new ideas that have increased efficiency or led to new products.

Take the Frito Lay organization for example, their desire to recruit diverse candidates led to their product Doritos. Increasing diversity in the workplace will also increase creativity. Not all problems can be answered with one solution; other cultures can bring new ideas, which a homogeneous culture might not stimulate. Therefore, diverse recruiting strategies will bring benefits to the workplace, which are always worth pursuing.

Additionally, in an examination of common western culture in comparison to eastern culture, one noticeable difference is the view of relationship management. Eastern cultures rely on strong relationships between whom they work with. As a result, many customers of companies in the Far East have strong relationships with those they work with. Recruiting diversity more specifically from Asian countries can create stronger relationships with customers and strengthen the ties between those you work with. One downside to diversity in the workplace can be barriers in communication, however those barriers subside over time leaving the benefits of recruiting diversity.

Byron West
President

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Generation Y

February 19, 2010 by · Leave a Comment
Filed under: Recruiting Update 

As we look forward to emerging out of this recession and reducing unemployment, a new and highly anticipated generation of employees is moving into the workforce. There seems to be a lot of skepticism about how effective the “me” generation will be. Growing up in a culture centered on instant gratification and focused on efficiency, this new generation of the workforce will bring a new set of cards to the table.  No longer is the time dedicated to a job, a justified means to being promoted. Generation Y will now see their performance as the most justified reason for upward mobility in the company. In addition 35% of Generation Y employees wish to communicate with their boss several times a day. What is to be expected from these new employees should be clear, obtainable, and concise. Focused on efficiency, the more communication will be essential in obtaining the optimal performance from new workers.

In addition, Generation Y, or the “me” generation, seeks to obtain the security and status their parents obtained much earlier in life.  In a recent survey Generation Y respondents ranked “working with a manager I can respect and learn from” as an 8.74 on a 10 point scale. With most new employee’s eyes set on upward mobility, the ability to gain wisdom from their managers is becoming ever more crucial. Skepticism about this new workforce has led Generation Y to be referred to in a negative connotation. However, I believe that the new mold of employees can bring new effectiveness to companies through their aptitude with technology and ambition to jump through the necessary hoops to achieve success. Most of Generation Y has grown up with computers and has become extremely proficient at navigating the Internet. Their awareness with new developing technologies will bring technology options that may have gone unnoticed. Nevertheless, with the new employees coming into the workforce, I think we can all anticipate what Generation Y will bring to the table.

Resources:

Questions and Answers about GENERATION X/GENERATION Y. www.bc.edu/wfnetwork. Sloan Work & Family Research Network, n.d. Web. 18 Feb. 2010. <wfnetwork.bc.edu/‌pdfs/‌GXGY.pdf>.

Byron West
President

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Powerful Tools: For Recruiters

February 8, 2010 by · Leave a Comment
Filed under: Recruiting Tools 

A good recruiter not only finds the best talent, but does it quickly and efficiently as well. With Salesforce.com’s application exchange recruiters can find myriad applications to do just that.

While Salesforce is not an applicant tracking system, by utilizing its extensive database of applications, Salesforce can be equally as valuable as a Candidate Relationship Management tool. The PowerDialer application uses a powerful telephony tool, changing the way you reach out to candidates. For high-volume recruiting environments, the application can increase call efficiency by up to 400% through automatic updates of activities, automatic pre-recorded voicemail tool, and their powerful auto-dialer feature.  Other applications such as Jobscience allow recruiters to distribute job openings and manage resumes all within the Salesforce platform.

Organization is fundamental in recruiting and that is where the Customer Relationship Management aspect of Salesforce comes in. By embracing Salesforce’s activity and task management features, recruiters can create a more organized and efficient workflow while keeping up a fast pace.

The true value of accurate candidate tracking truly adds to a more pleasant candidate experience. Qualified candidates are more likely to apply to a requisition after speaking to a recruiter that is familiar with them and any previous conversations they may have had.

Byron West
President

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Executive Hiring on the Rise

February 1, 2010 by · Leave a Comment
Filed under: Executive Hiring 

One thing that remains uncertain for the future is the speed at which hiring will pick back up. Several analysts say that the level of unemployment rests in the volatility of the market forces, but recent articles are speculating a speedy recovery of the executive employment market. The recession has put many current executives’ retirement on hold but as the security of their retirement begins to return, companies are seeing a greater need for replacing their long time executives.
A recent press release by ExecNet reveals a growing confidence among recruiters for the future of executive employment in America. ExecuNet cites that amongst its 172 recruiter surveyed “56 percent are confident or very confident the executive employment market will improve during the next six months”. Although the speed of executive hiring may not return as it did in 2001, hiring in the business leadership market will soon be picking back up.

Mayclim, Troy. “Top Of Employment Market Stabilizing .” www.execunet.com. N.p., n.d. Web. 29 Oct. 2009. .

Byron West
President

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A New Way to Look at Cost Per Hire

January 22, 2010 by · 1 Comment
Filed under: Recruiting Update 

Several recruiting experts across the board say that cost per hire is irrelevant, and in most cases they are absolutely correct. When cost per hire is not calculated correctly, its value is relatively minimal.

PwC Saratoga’s most recent report on the United States’ Human Capital Effectiveness, cited that the average cost per hire was $2,658 in 2007, a 4% decrease from the previous year. The report uses six different elements, which are taken into consideration when finding the cost per hire: Advertising, Agency and Search Firm, Referral bonuses paid to employees, Relocation costs, and Company recruiter costs. These elements seem to cover most of the costs, which are related to hiring, but Figure 1-A shows all costs related to an individual hire, sometimes overlooked by companies. These additional elements of the hiring process can even double the cost per hire. However many talent acquisition experts believe that the statistic is still completely irrelevant to the hiring process. Todd Raphael of ERE LLP, says that the cost per hire statistic reveals nothing. He refers to an occasion in which Texas Instruments even paid $25 million to retain a techie, but his productivity was worth well more than that. And to his point, not all employees are created equal. Even fast food restaurants have steep changes in compensation between a manager and a cashier, but used in the right context, cost per hire reveals a rough estimate on hiring costs. Statistics like those by PwC Saratoga show cost per hire across the board from a macroeconomic point of view, but its true effectiveness is found when comparable positions are averaged together. The cost per hire of an executive drastically differs from that of a customer service representative. The statistic may not play a large role in determining whether a company should hire an executive as quality can often cover the costs. Yet, in most other cases, cost per hire allows companies to focus on the means by which they go about the hiring process and whether tools like job postings or agency fees are truly necessary.

Several companies have edged away from cost per hire, and have seen their hiring process become increasingly costly. If consumers lost sight of the price of a cheeseburger at McDonalds versus Wendys, there would no longer be a dollar menu. Thus, it is essential to use cost per hire as an instrument that gives insight into the cost of the hiring process.

US Human Capital Effectiveness Report: Executive Summary. http://www.pwc.com/us/en/hr-saratoga/publications/2008-2009-human-capital-effectiveness-report.jhtml. PwC Saratoga, n.d. Web. 21 Jan. 2010.

Todd Raphael “Cost per hire: don’t even bother“. Workforce. FindArticles.com. 21 Jan, 2010. http://findarticles.com/p/articles/mi_m0FXS/is_6_81/ai_87509062/

Byron West
President

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