Recruitment is a top priority for all employers big and small in 2015.
This is a fact supported on LinkedIn when they published their “2015 Global Recruiting Trends” in October 2014 to which it projected that employers will need to create larger budgets and prepare to hire in larger volumes over the next year.
For example, almost half of 450 financial professionals surveyed in November expect their companies to increase hiring next year, according to the (2015) Association for Financial Professionals Business Outlook.
As hiring managers plan to hire more employees, they should be mindful of the following pieces of information:
Retention, Retention, Retention:
Employee retention is critical to the long term health and success of your business. Hiring managers readily agree that retaining your best employees ensures customer satisfaction, product sales, satisfied co-workers and reporting staff, effective succession planning and deeply embedded organizational knowledge. Employee retention is one of the primary measures of the health of your organization. If you are losing critical staff members, you can safely bet that other people in their departments are looking as well.
Exit interviews with departing employees provide valuable information you can use to retain remaining staff and heed their results. You'll never have a more significant source of data about the health of your organization.
The quality of the supervision an employee receives is critical to employee retention. People leave managers and supervisors more often than they leave companies or jobs. It is not enough that the supervisor is well-liked or a nice person, starting with clear expectations of the employee, the supervisor has a critical role to play in retention
The ability of the employee to speak his or her mind freely within the organization is another key factor in employee retention. Does your organization solicit ideas and provide an environment in which people are comfortable providing feedback? If so, employees offer ideas, feel free to criticize and commit to continuous improvement. If not, they bite their tongues or find themselves constantly in trouble - until they leave!
Offer “above” market Budgets
Putting in place a competitive wage scale, can allow you to compete and “out do” the other competitors that require the same staff, while also enabling you to attract and retain top talent. Your company’s overall budget, and the scale for each position, should take into account the education, skills, training and experience of your employees, as well as your profit margin. Budgets may be determined by committee and approved by the board of directors, or the chief executive officer may set the pay scale him/herself. The exact method used may depend on the type of business you are in and on the culture of your company.
Are you aware that recruiting has changed? Gone are the days of “Post and Pray”: where you post a job listing and wait for the swarm of candidates to apply. Today’s companies have bigger, better technology but we also have a veritable firehose of candidates to deal with.
To begin, at the core of the need for any hiring manager is to ensure that the various elements of their employer brand are in keeping with current best practice. It also means that some if not all of any organisation's communications need to reflect and promote the brand proposition. While word of mouth is one of the most frequent ways in which an organisation's employment reputation is communicated, there are also a variety of more overt communications channels that need to be co-ordinated to ensure that talented people are attracted to the organisation and to reinforce the feel-good factor in existing employees. These include corporate and third party web sites, national, local trade and technical press, brochures, posters, exhibition stands and presentations, and many more beside.
Mobile recruitment for Hiring Managers
According to “Jobvite’s Social Recruiting Survey” released in August 2014, nearly 70 percent of 1,855 recruiters surveyed said they expected more competitive hiring over the next 12 months. And 73 percent of the recruiters surveyed said they plan to invest more in mobile recruiting to address this trend.
The massive advantage of creating a mobile site that is applicable to your job posting and lets job seekers apply for jobs directly from a mobile device is because younger members of the population have the highest levels of mobile penetration. They also have the highest adoption rate of smartphones. 80% of adults between the ages of 18 – 34 own a smartphone (79% for 18-24, 81% for 24-34), more than other age group. This is the demographic that includes those that will be starting work and looking for their first jobs and approx. 70% of the IT workforce over the next 15 years. Statistics from: “International Telecommunications Union”
Planning for Demographic Changes:
Demographic changes have already had a major impact on companies around the world. Labour forces have become increasingly diverse, and this has forced organisations to make considerable changes to the way in which they approach people management. According to a new report by the “SHRM Foundation and the Economist Intelligence Unit (EIU)” , the main challenges include:
Ageing populations are apparent throughout the developed world as people live longer, healthier lives, and they are going to have huge implications for HR organisations in the future
While some populations are ageing others are moving in the opposite direction, with developing countries in particular facing the challenges that come with an increasingly youthful labour force. The Asia-Pacific region, for example, is home to 60 per cent of the world's 15 to 24-year-olds
A globalised workforce
Another trend identified in the report is that of people movement. Globalisation means employable populations are moving more freely than ever around the world, which is leading to increased cultural diversity and reduced cultural homogeneity within national workforces.
A surge in female employment
According to the report, figures from management consultancy Booz & Company show that in the ten years between 2010 and 2020, some 865 million more women will have entered the economic mainstream, resulting in a boom in female employment.