Have you been wondering what stats your recruiters need to know?
Thanks to the record-low unemployment rate, hiring and recruiting are more difficult than ever. Job-seekers have their pick of positions, so keeping your process as streamlined and efficient as possible is key to convincing candidates to choose your company.
The hiring process is often treated as an indicator of how the job itself will be. According to a recent CareerBuilder and SilkRoad survey, 68% of employees believe their experiences as job candidates reflect how the company treats its people.
That same survey found nearly half of employers reported it’s taking longer to fill jobs than ever before. Continue reading
Candidate Experience at North American Banks
In 2019 we struggled to find current research on the candidate experience at North American banks, so we conducted our own!
We wanted to understand exactly what today’s candidates experience at every step of the job search. To uncover meaningful results, we applied to 140 jobs, at 35 different banks. This article provides a deep dive into the recruiting process of key financial institutions in the North American market. To close, this article also summarizes examples of great candidate experiences and areas for improvement.
You might be surprised by what we found.
The State Of High-Volume Hiring at Financial Institutions
As the finance sector continues to be a strong source of economic growth, recruiting for financial institutions faces a new set of challenges. Continue reading
Have you ever considered HR tech in financial services?
You probably wouldn’t expect a large bank to dabble in HR technology. HR seems compliance-driven, and what banks do seems very revenue-driven. Those are often very different lines of business/business models. But banks are increasingly entering the HR space. Note this from The Wall Street Journal:
Investment banks better known for big trades and mega-mergers are descending from the C-suite to pitch for business managing companies’ employee-benefit programs. It isn’t a glamorous business but it offers the type of sticky, predictable revenue that bank shareholders want—and executives are willing to embrace—as core Wall Street businesses struggle. Continue reading
Have you ever considered the idea that your employees are also your customers?
Let’s think through a new idea here: What if you started viewing your employees as internal customers? This might be a leap of thinking for a lot of people who run organizations, but it makes sense: employees work on the products and services that you ultimately sell for money. We tend to have developed strategies for our customers — customer service, customer success, customer experience — but our strategies around employees are less developed. Yes, we’ve talked more about employee experience and employee engagement in recent years, but we still spend way more time focused on customers than on employees. Continue reading
Second interviews are not just a formality, they are an essential way to really understand how your candidate ticks and whether they are the right choice for the job. These 15 second interview questions will help you select the cream of the crop of talent available to you and can make it much easier to choose between equally matched candidates.
What’s the point of a second interview?
Second interviews have a very different dynamic to first interviews. You’ve already established the candidate could be good for the job. You know their background is broadly relevant, they seem to have good interpersonal skills, they come across well in person, etc. Continue reading
Are you trying to make a case for diversity and inclusion in your organization?
No organization will actively reject the idea that diversity and inclusion programs are good things for their business.
Once you get past the “OK, no one is outwardly saying no to this idea” phase, you get to more complicated ground, though: what are companies actually doing about diversity?
And then you come to this: can you actually build a business case around diversity and inclusion? What does that look like?
Follow the bouncing ball
The first important situation is simply dealing with standard organizational process. To put anything in play at most companies, you need to present a business case. Continue reading
Is recruiting now longer your typical 9-5 job?
It’s no longer a 9-5
To say that technology has changed the traditional 9-to-5 is overly simplistic. Each new invention or improvement on existing internet technologies brings a new wave of innovation across all industries, and recruitment is no different.
Business is already undergoing rapid change, and is no longer relegated to the Monday to Friday “grind.” Case in point: a recent Gallup survey found that 35% of current employees would quit their job for the chance to move into a role that offered full-time remote or flexible work.
As these younger generations – known as Millennials and Generation Z – begin to enter the workforce, non-traditional working cultures are already starting to become the new normal. Continue reading
Sourcing is the second highest origin of hires after direct applicants, so a lot of attention is being paid these days to metrics and tools to improve this crucial function.
Here are 7 metrics about sourcing that every talent acquisition professional should know summarized in an infographic below.
Metric #1: Every 1 in 72 sourced candidate is hired
According to Lever, candidate sourcing is one of the most effective ways to hire. On average, one in every 72 sourced candidates is hired compared to one in every 152 applicants.
Metric #2: Sourcing takes up 1/3rd of a recruiter’s work week
Entelo’s data found on average, a recruiter spends ⅓ of their week or about 13 hours sourcing candidates for a single role. Continue reading
Sourcing – finding and qualifying candidates who have not applied directly to an open role – is the second best hiring source, accounting for up to 33% of hires.
Korn Ferry’s latest survey found 69% of talent acquisition professionals believe using AI as a sourcing tool has resulted in higher quality candidates.
Clearly, recruiters that leverage technology like AI for candidate sourcing have an advantage in today’s tough talent market.
Here are the 3 major benefits recruiters are enjoying by using AI in sourcing.
Benefit #1: Freeing up recruiters’ time
According to Korn Ferry, recruiters are seeing the value of using AI in sourcing:
48% state AI is making their job easier
40% believe AI provides valuable insights
27% say AI has freed up their time
Entelo’s data shows the average talent acquisition professional spends about 1/3 of their work week sourcing candidates for a single role, which is around 13 hours a week. Continue reading
61% of recruiters expect hiring volume to increase this year, but recruiter headcount is expected to be relatively stagnant. As a result, there’s an even greater need for better candidate sourcing tools in 2018.
But which candidate sourcing investments make the most sense for you? Here’s my guide to understanding how AI is improving candidate sourcing tools in 2018.
Candidate sourcing: where is recruiting headed?
Recruiting increasingly needs to become a strategic advantage.
It’s true that automation will eventually fully get to scale and potentially eliminate million of jobs, but that’s still decades away. Today, people power organizations and having the best people makes the best organizations. Continue reading