Recruitment Market Segment LS
Recruitment Market Segment RS
Tuesday, 12 July 2016 10:35

The great untapped candidate pool is there for the picking

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Even if you are 100% happy in your job, 75% of employees are “passive candidates” ready to be poached, a new study has found. But how can technology identify these future employees?

So says Rob van Es, chief operating officer of REFFIND. And he is right. There is a vast pool of people who have been trained by other companies (at their expense) just right for picking and poaching, but they don’t know because they don’t read the job ads or actively seek jobs. As a consequence, they are invisible to recruiters. Building a pipeline of potential candidates is key to successful recruitment.

Social media is a start — searching for the right people on LinkedIn and putting the word out  but mostly it is by engaging with a pool of like candidates and asking them for referrals.

Van Es said, “Best-in-class companies are 30% more likely to invest in new technology that makes recruitment more engaging. This technology puts businesses ahead of the competition by ensuring the talent acquisition process is smooth, efficient, and interesting for all parties involved, not just the candidate.”

REFFIND has identified three ways technology can empower recruitment teams to be successful:

1. User experience

The recruitment team’s user experience should be simple, mobile, and should help them make the candidate’s experience as smooth as possible. Mobile-optimised recruitment technologies mean users can use any device, anywhere, and any time that suits them. This helps to streamline interactions with passive candidates and reduces the number of candidates lost due to poor experience, especially if it takes too long.

2. Collaboration

Organisations that let recruitment teams collaborate on candidates are almost twice as likely to grow hiring manager satisfaction and customer satisfaction on a year-on-year basis. Recruitment technologies can support team collaboration with tools that let them comment, thumbs-up, and ask questions of their colleagues about candidates.

3. Hire quality analytics

Recruitment technology can help companies determine if candidates are the right fit for different roles and can track how well new employees acclimate to the company, the role, and their responsibilities. Recruitment technologies make it simpler to measure and understand quality of hire, and analyse trends.

“Employee referral programs are the most powerful corporate recruiting tool, bar none,” said Dr. John Sullivan, internationally renowned HR thought-leader. Van Es says that where one in 18 candidates are hired from traditional methods, one in four candidates are hired from referrals. Add to that a 45% retention rate after two years (20% for traditional) and employee referrals using staff apps and incentives make sense.

Comment

During my 40 years in business — well before LinkedIn and social media  the best recruitment results were achieved by asking, and rewarding, my staff and my competitor's staff for referrals. That was true social networking, and a high percentage of employees came from organisations where they conveniently thought they would stay for life.

It seems building a potential employee pipeline is as important as building a customer pipeline. A lack of quality candidates can stifle a company’s growth. Van Es is not advocating poaching, but suggesting that many employees stay put and ultimately do a less than sterling job if the company is not the perfect fit.

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Ray Shaw

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Ray Shaw [email protected]  has a passion for IT ever since building his first computer in 1980. He is a qualified journalist, hosted a consumer IT based radio program on ABC radio for 10 years, has developed world leading software for the events industry and is smart enough to no longer own a retail computer store!

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