I’m using the term Recruiting ROI (Return on Investment), but the R in ROI doesn’t just mean a financial return. It simply encompasses all the time, energy, labor, and yes, financial contributions that go into finding great talent. Finding ways to reduce recruiting ROI is crucial to maintain a healthy business.
Recruiting is a constantly evolving art. Even the most seasoned recruiters need a little refreshment from time to time. With technology moving at the speed of light – especially with emerging trends in AI and HR, it can help to brush up on the fundamentals and the newest best practices that will ensure your success.
According to this year’s Global Talent Trends report published by LinkedIn, 75% of the people you’d hire for non-critical roles are passive candidates; people not actively looking for the position.
Unemployment is at 3.6% and there are over 3 million fewer workers in the labor force with over 11 million open jobs. So, with fewer people looking for work how do we get the ‘most for our buck’? Online advertising is on the rise – A LOT! Some advertising costs have increased more than 100%. It is vitally important to reduce recruiting ROI and to capture candidates in the age of the Great Resignation.
Job Titles vs Job Functions
Job Titles should relate to what the worker will be doing. The functions and job titles are very different things. A job title is essentially the name of a position within an organization. A Job function is the routine set of tasks or activities to be completed by a person in that position. An employee’s title and function are often closely related, though not all job functions are clear based on the title alone. When recruiting, does the Job Title clearly describe the job functions? Be sure the position you are filling meet the job functions and NOT just the job title.
Posting a job? Always think – What’s In It For Me (WIIFM)? Is this open job on a bus line? Is there mandatory over-time? Don’t shy away from posting pay, location, and schedule. Clearly define responsibilities and duties. Candidates these days are looking for a work-balance life so by clearly defining a job posting you will have a better chance of getting that person that will “stay on the job”.
Be Engaged not Recruit
Some recruiters won’t put the candidate and the position before their own needs. Doing this could create a stigma around recruiting in general. Approach passive candidates with sincerity and good fits. Try to talk to the candidate about what he or she is looking for in a job. Then, you can naturally offer a position that fits their unique skills and background. Your recruiting status will come out organically and will build your professionalism.
Cardinal Staffing Services
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