Bullhorn recently published their 2018 North American Staffing & Recruiting Trends Report, a survey of more than 1400 staffing professionals.
Compared to 2017, the majority of staffing professionals – 67% – are less confident about the future. This is likely due to the tension between the potential opportunities presented to staffing agencies vs. the challenges they face in 2018.
I’ve highlighted some important findings on recruiters’ priorities for 2018 from Bullhorn’s report below.
Increases in hiring and operating budgets
Whether internal or external, recruiters are experiencing the same challenges from the tighter labor market.
While 70% anticipate an increase in hiring needs, 64% of staffing pros say their top challenge is the talent shortage. Continue reading
According to Korn Ferry’s data, 63% of talent acquisition professionals report AI has changed how recruiting is conducted in their organization.
A big part of this recruiting AI is the chatbot.
A chatbot is defined as “a computer program designed to stimulate conversation with human users.” Although the chatbot is a relatively recent innovation in the recruiting context, chatbots have been used for years in customer service and as virtual personal assistants. Hello, Alexa!
Have you used a chatbot?
Maybe, I don’t know if he/she was human or a bot.
Drift, a leading marketing chat software (both people and bots), recently conducted a survey along with SurveyMonkey, Salesforce, and myclever on how chatbots are changing the online experience. Continue reading
HR and Recruiting Buyer Survey to capture who the HR and recruiting professionals who purchase HR tech are and their buying process.
Workology recently conducted the
Here are the top 5 findings from the Workology HR tech buyers survey.
23% fewer than 50 employees
15% 101-250 employees
13% 1,000-5,000 employees
13% 10,000 or more employees
With almost a quarter of surveyed buyers work at small organizations of (less than 50 employees) while a quarter work at enterprises (1000 or more employees), which explains the variation in HR tech products that the market is able to offer. Continue reading
Recently, RedThread Research in partnership with Mercer, published an industry report titled, Diversity and Inclusion Technology: Could this be the Missing Link?
The goal of this research was to address five key questions:
What is D&I technology?
Why are D&I technologies coming to market right now?
What are the benefits and potential risks?
What types of D&I technologies exist?
Who are some of the players in the different D&I technology categories?
The report summarizes some of the major benefits and motives behind the increasing interest in diversity and inclusion tech including:
More consistent, less biased, and scalable people decision-making processes
Raising awareness of bias occurring in real-time and at the individual level and enabling a range of people to act on it
Measuring and monitoring the impact of efforts designed to improve D&I outcomes
Signaling the importance of a diverse and inclusive culture to the organization
The research covers over 100 vendors in the space divided into D&I “focus”, “feature”, and “friendly” vendors in sourcing, selection, performance management, and leadership development. Continue reading
Tens of thousands of HR executives will be in Las Vegas next week. That’s right, it’s that time of the year again – HR Technology Conference & Exposition!
With keynotes from Arianna Huffington and Josh Bersin, more than 450 exhibitors, hundreds of sessions, and plenty of parties, HR Tech is the can’t miss event of the year.
This year’s themes include emerging technologies such as machine learning, natural language processing, and chatbots, the rise of niche products that address specific new needs, and the consolidation of the HR tech market with all the recent acquisitions and partnerships (e.g., UltiPro acquiring People Doc). Continue reading
HR.com and IBM Smarter Workforce Institute recently released a comprehensive report on the state of talent acquisition called, “How Organizations Identify and Hire Great Talent.”
The extensive survey included questions about HR leaders’ top hiring challenges, their time to fill, and their desired outcomes for using AI in talent acquisition.
Here are 7 new insights into today’s talent acquisition from the HR.com and IBM report summarized in an infographic:
1. 38% believe the biggest hiring challenge is losing promising candidates during the hiring process
Losing promising candidates during the hiring process was the hardest hiring challenges for 38% of respondents. Continue reading
Gartner estimates HR can boost an organization’s profit margins by 4% and drive talent outcomes by up to 23% by improving its analytical capacity. It’s not surprising then that 70% of organizations expect to increase their investment in workforce analytics in the coming years.
This renewed interest in analytics is driven by two main factors. First, our ability to collect and store vast amounts of data has dramatically increased recently with breakthroughs in computing power. Second, this increase in data collection has resulted in the rapid adoption of AI and automation tech.
The logical next step is the ability to use this data and tech to solve critical business challenges in HR and beyond. Continue reading
Candidate experience is a top recruiting priority this year and there’s no better source of data on it than the Talent Board.
Their extension data collection has created invaluable benchmarks for organizations big and small. Overall, the winners of the CandE Awards demonstrate these best practices:
Listen and communicate more often.
Set clear expectations about the recruiting process from pre-application to onboarding for candidates.
Hold themselves more accountable for candidate experience and talent acquisition performance while measuring it regularly and consistently.
Be perceived by candidates as having a fairer process (e.g., candidates believe they have been able to share why their knowledge, skills and experience deserves consideration for the jobs to which they have applied). Continue reading
LinkedIn reports quality of hire is the most important recruiting priority for talent acquisition leaders. Quality of hire is the value a new hire adds to your organization in terms of performance and tenure.
For financial services, quality of hire is a top priority because it directly contributes to their bottom line.
Measuring quality of hire is notoriously difficult, however, because it requires technical know-how, access to data, and a long-term mentality. Organizations that can get it right will create a huge competitive advantage.
Here are 3 tips for measuring quality of hire when recruiting for financial services.
Tip #1: Partner with the business to determine what a quality hire looks like
The first step to measuring quality of hire is going back to the basics. Continue reading
Annual turnover rates in retail range from 50% to over 100% for some retailers.
With the average cost to replace an entry-level retail employee calculated to be $3,328, turnover gets expensive quickly. As an example, if Walmart replaced 50% of their 500,000 entry-level employees in an year, it would cost them approximately $850,000,000!
It makes sense then that quality of hire for retail generally focuses on turnover. The responsibility for increasing quality of hire by decreasing turnover usually falls on the recruiting department.
Here are 3 tips for improving quality of hiring for retail.
Strategy 1: Offer a competitive salary and incentives
A survey of retail employees by Korn Ferry found the #1 reason for leaving a job was “better opportunities / promotions” followed by more money. Continue reading