Many recruiters don’t consider the psychology of how to approach different industries and verticals, even though they’re recruiting human beings, so psychology is going to play a role somewhere.
Here are 5 steps to understanding the psychology of candidates for financial institutions.
Step 1: Make sure you’re undeniably professional
While financial services are now embracing digital and mobile and tech overall, it’s still a traditional industry in terms of processes and behaviours.
And because salaries for early-stage career hires are higher than in many other industries, there’s an expectation of professionalism throughout the process. This means making sure you’re on time to all meetings, presenting well physically for any in-person appointments, and having strong grammar in any email correspondence. Continue reading
According to Silkroad, employees referrals are still the top source of hire at 30% of all hires. With the market getting even tighter, leveraging referrals is more important than ever.
Your current employees are likely to know people who would be good fits for roles you need. When a referral program works well, recruiters are a lot less stressed.
Why don’t more companies use referral programs?
The main reason is that referral programs are time-consuming.
At a RecruitingDaily event in Atlanta, the consensus among recruiters was that while referrals are an effective channel for them, it can take up to 70% of their time in a given week to manage it. Continue reading
What should you be doing as a recruiter? Most would answer this by simply shifting the word: You should be recruiting, of course.
Makes logical sense. But recruiting involves lots of different things:
Working with hiring managers
Moving through the process
Working with HR on an offer
It’s a lot. There are theoretically 40 work hours in a work week, although many of us do work more.
Science has shown that about 55 hours/week is a hard ceiling on productivity. That’s 10+ hours/day Monday to Friday.
A percentage of that time will be taken up by calls and meetings. Continue reading
To most people, recruiting is “a HR thing.” That’s the silo it belongs to. Silos are very prevalent in business. In fact, Machiavelli discussed silos in 1513.
But we also work in a time when collaboration is super important. Teams are scattered all over the country or even the world, and the strategy often involves a “road map,” which means A needs to be finished before B gets started. Groups need to come together to hit goals.
The “knowledge economy” we often reference is really a “collaboration economy.” Collaboration and silos don’t typically go well together.
All this said, what other departments should talent acquisition be working with the most? Continue reading
If you work in a tech-driven atmosphere, time to hire is still important, even increasingly so. A lot of tech organizational planning is based on road maps and sprints with sequential budgets (e.g., Project A must be finished before Project B can commence).
If this how you’re doing planning and budgeting, speed in hiring is crucial. You need to get the right people – and fast. This means thinking really strategically about remote workers, salary bands, how to source effectively, and everything else that would go into a quality hire discussion.
But there’s another school of thought, embraced by people such as Malcolm Gladwell, that recruiters have too much of a focus on speed, and should slow down and think more about what they actually need. Continue reading
There’s an increasing body of research that shows human beings don’t use our time all that well, including this study on how judges schedule their time.
One of the key findings of this research is:
“For knowledge workers and managerial positions, there is evidence from time diaries that all sorts of workers schedule their workflow ineffectively, in the sense that they tend to jump from one task to another too frequently.
They spread themselves thin, and then they achieve less than they would if they worked on something until completion.”
If you’re reading this, you’re likely in recruiting, sourcing, or talent acquisition. Continue reading
With recent entries in applicant screening tools from Google and Facebook, candidate screening software is currently top of mind.
Here are some factors to consider when buying candidate screening software.
What do you need from candidate screening software?
This is where the discussion needs to start. Before you progress to the demo stage, you need to ask yourself if the screening software you’re considering fits these criteria:
Aligns with your business model
Integrates with your pre-existing software and processes
Is capable of handling the highest volume of hiring you plan to do
Those are the “big three” you typically need in place when evaluating candidate screening options. Continue reading
There are two sides to most AI staffing discussions.
The first side is the business productivity one: 70% of staffing firm executives, for example, believe that AI staffing will play a role in improving recruitment.
Infosys completed a survey of 1,600 business and IT executives and most noted the potential of AI staffing, with 85% indicating they’d train employees on the benefits and uses of AI.
So that’s all good. There is legitimate potential for more recruiting productivity using AI staffing.
But the other side of the coin is the fearful one: if AI staffing truly gets to scale, will human recruiters be phased out? Continue reading
The HR tech market, including candidate sourcing software, is estimated to be $14 billion globally – and rising.
The rise of artificial intelligence, while not fully at scale, seems to be the next major turning point in the HR tech marketplace.
While there are now hundreds of different vendors offering slightly different solutions, what really needs to be addressed are some core pain points on the talent acquisition side.
The core pain point of recruiters
“Sourcing qualified candidates” comes in as the #1 stressor for recruiters in almost every survey.
This is only logical: good sourcing takes a lot of time, especially manual searches using Boolean strings and LinkedIn, and good sourcing never stops. Continue reading
In the modern business ecosystem, what are today’s hiring best practices?
HR thought leader Josh Bersin recently wrote about the seven practices of high-impact HR, which include:
Designing better employee experiences
Leveraging HR technology
Leading corporate digital transformation
Understanding/supporting agile and team-centric org models
Working with leadership to craft a culture of trust and accountability
Designing the HR function as a network of teams, breaking down silos
Continuously developing your HR talent
These are all noble goals for HR, but there’s another aspect to this equation: Bersin notes how busy and stressed most workers are feeling.
According to the Bureau of Labor Statistics, American employees has lost on average a full week of vacation since 2000. Continue reading