In order to play a role in key business outcomes, it is important to understand the industry and where it is headed. LinkedIn recently released its annual Global Recruiting Trends report for 2017, based on 4,000 corporate talent acquisition leaders across 35 countries. Take a look at some of the trends that will define recruiting in 2017.
Talent acquisition has a seat at the executive table
Hiring and talent leads will have more influence in 2017, giving leads greater access to those that make key decisions. Talent acquisition is seen as an important issue for most companies.
Hiring placement will increase
Recruiters can expect a busy work day looking for quality hires. The hiring volume of candidates actually placed is expected to increase in 2017.
Top source for quality hires: employee referrals
The top three sources for obtaining quality talent include:
This is not a surprise given that it is typically quicker to hire a referred employee. Some studies even show that referred employees perform better and help with attrition rates.
However, due to budget constraints, only 9% of companies’ recruitment budget is invested in employee referral programs. So, where is money being allocated?
Budgets allocated towards job postings and staffing agencies
Despite employee referrals being the top source for talent, most companies will invest the bulk of their recruitment budget in traditional tactics.
Additionally, compared to last year, it seems as though more recruiting budgets will remain flat. With budget constraints, recruiters will need to find creative ways to attract talent. We will see a rise of recruiters partnering with marketing to utilize job postings and ads as a sales and branding tool.
Employer branding remains at the top of the budget wish list
While most companies’ investment goes towards job boards/advertising, leaders appreciate the impact employer branding has on talent acquisition and would invest more money to this category if there weren’t constraints.
FUTURE TREND: Increased importance of diversity, screening automation, mission and data
Top trends to shape the recruiting industry in the next few years include:
With a hiring volume increase, focusing on these strategies will help to minimize human bias, make the time to hire less lengthy and will serve as key differentiators for competitors.
According to the “2012 Atlas Van Lines' 45th Annual Corporate Relocation” survey, 87% of firms have a formal relocation policy. Two weeks ago, I provided tips for employers offering relocation packages (read post here). It is time to flip this view and provide advice from a candidate and/or current employee perspective. Here are a few things you need to know before asking or considering an offer for a relocation package.
Know what to ask for
You need to know what types of support and assistance are required. A single person will not have the same needs as a homeowner with a spouse and two kids. Take the time to assess your personal situation, being realistic about the services you think should be covered. Then, conduct research to see how much everything will cost as you will use this information in the negotiation phase. Some items typically offered in relocation packages are noted below.
According to the Atlas survey, more than 50% of companies will reimburse or pay directly to:
Additional services to consider:
Be prepared to negotiate
As mentioned in my previous post, it is normal to go back and forth when running relocation package numbers. However, you must be prepared to make your case. Start by explaining why spending money on your move is a win-win for both parties. For example, if you are expected to move in a short period of time, explain how the assistance would help you focus on the move while ensuring you are able to reach your start-date. Additionally, support your request with research. Know what is standard in your location, industry and even your type of role/title so you can validate what you are asking for. Remember to mention all risks and costs associated with your potential move.
Negotiating relocation packages is like an art. Having that said, sometimes negotiation does not work or both parties cannot seem to come to an agreement. Make sure to have back up ideas of ways the potential employer may provide support. The employer cannot offer child care? Ask for a sign-on offer to be able to afford child care. However, remember that you might walk away with not everything you asked for. It is a matter of give and take.
You need to document everything for two reasons:
Moving to a new location can be stressful not only for you but your loved ones. At the end of the day, research is your best friend during this process. Thorough research and data to back up your ask is needed if you are going to obtain the assistance your desire and the time needed to move/find the right place for you and your loved ones.
What role does the 2016 Presidential Election play in the job market? I have read multiple studies with information and different theories answering this very question. So what is true? What is false? Read below to find what parts of the job market and employment are impacted by the 2016 Presidential Election.
TRUE: Companies factor in the election when business planning
According to a recent survey by the American Institute of CPAs, 64% of CEOs, CFOs and other senior-level CPAs in U.S. companies said the outcome of the election is a consideration or factor in their company’s business planning, budgeting or forecasting for the next fiscal year. As the 2016 election closes, employers will need to consider how policies will change or become more firmly rooted. With changes on the horizon, some companies will be more cautious when it comes to job creation, spending and expansion.
FALSE: Hiring is halted prior to the election
The American job market is actually very strong right now with unemployment at a solid low rate. According to AICPA, 81% of companies said the election is not a factor in staff decisions and/or companies plan to keep hiring at their current pace. Only 5% of respondents said they plan to reduce hiring until after the election.
SLIGHTLY TRUE: Temporary employment increase as a result of the election
While you can expect more positions to be created to support the presidential campaigns of all candidates in 2016, the increase in temporary workers is all rather independent of the election. Instead, the increase in temporary workers has rather been an ongoing hiring trend for the past few years (before the election even started). According to CareerBuilder, job growth will hold steady in 2016 —with 47% of employers expecting to add temporary or contract workers during the year. This is only a slight increase from 2015 (46%). So while in high-demand, the increase is largely equated to a changing workforce and a better U.S. economy.
FALSE: The election does not hurt workplace productivity
Anytime an election occurs, emotions run high for all those involved. This election was not any different. Because voters have intense feelings about presidential candidates and their proposals, it is common for these conversations to move into the workspace. However, studies show that these conversations in the workspace can affect productivity. An APA survey reported that:·
Regardless of who won the election – the truth is this. It is inevitable that political conversations around the outcome of the 2016 campaign will continue to be a hot topic in business planning and in workplace conversations to come. One thing is for sure though – while hiring might not have drastically changed, retaining productive employees will be critical to ensure business success throughout the rest of 2016.
Globalization plays an influential role in today’s candidate-drive market. This makes finding top talent locally difficult. As a result, hiring managers are extending recruitment efforts beyond states and sometimes even internationally. Relocation packages are valuable recruiting tools. They give the impression that the company is a place that values great employees, pays for performance and takes care of its people. Here are a few things you need to know if your company is offering or is considering offering relocation packages.
Be aware of what other companies are offering
Whether it is lease break coverage, home sale/purchase assistance, spousal job support, temporary housing, whole-house pack and transport, or even child care (to name a few) make sure you know what is standard in your location and industry. But, be realistic when considering what your organization is prepared to offer by outlining a specific percentage point you’re willing to cover.
Be prepared to negotiate
You may know what is standard for your location and industry, but that does not mean your potential hire will agree to your terms. It is normal to go back and forth when running relocation package numbers. Remember to assess all risks and costs associated – weighing all pros and cons. Have multiple options prepared in advance and make sure the candidate is clear from the beginning about what their expectations are for support.
Having said the above, sometimes negotiation does not work or you cannot seem to diminish the inability to offer a similar package as your competition. Do not let this inability stop you. Consider all your options. Cannot offer child care? Offer a sign-on bonus to give extra assistance to help the family afford child care. You can even consider great work life flex benefits to ease any stress from moving.
Be sure to document everything
Agreed on specific terms for a relocation package? Make sure you get everything in writing. Add in a non-compete clause, a confidentiality agreement, buy-out provisions and any reimbursement metrics. Relocation is typically a stressful experience. Contracts will eliminate any potential miscommunication while keeping communication between both parties transparent. They also and allow your organization to potentially retrieve a return on its investment.
At the end of the day, unpredictable things can always happen after you have agreed on a relocation package. Your new hire could get home sick, be a bad performer or even attempt to pursue new job opportunities after relocating. So, before offering a relocation package, make sure the candidate you are investing in is worth the investment.
In the past, most of my pieces have focused on how the recruiter or hiring manager can work to make the candidates hiring experience one to remember. In the spirit of Halloween, I thought I would switch things up and focus on what the candidate can do. The hiring process can be FRIGHTENING for candidates. The interview phase is typically the final stage in the process, so it’s important not to SPOOK your potential employer. Avoid these SCARY interview mishaps to ensure your interview is one to remember.
MISTAKE #1: Cloaking your preparedness
According to LinkedIn, not knowing enough about the employer is the #1 mistake made during most interviews. Lack of preparation becomes obvious quickly.
Instead: Be prepared! Research not only the company but the interviewees as well. What type of culture does the company have? What is the company’s mission and service offering? What are the interviewers’ names and their hobbies? Leveraging the answers to these simple questions can give you a one-up on the competition.
MISTAKE #2: Revealing your fangs when it comes to your previous employer
While there are nightmare employers out there, badmouthing your current or past employer is always a frightful mistake. If you are badmouthing one job, what leaves them with the impression that you won’t badmouth their job?
Instead: Keep your vampire fangs and claws away! Spin any conversation about your employer in a positive way without lying. You are better off focusing on the fact that you are looking for new challenges and opportunities.
MISTAKE #3: Acting as stiff as a mummy
The hiring process is a two-way street. However, I sometimes get candidates that freeze when asked questions or do not know how to respond.
Instead: Loosen up! Your body language is just as important as what you say. Try not to twitch, remember to smile and relax. If it helps, take a few deep breaths before responding to a question so you have time to quickly process your thoughts before answering.
MISTAKE #4: Showing up dressed like a zombie
First impressions are everything. Showing up in the wrong outfit and accessories can send the wrong message.
Instead: Do your research! Look up the company’s website ahead of time to see how people dress. When in doubt, wear a suit or ask the hiring manager what the attire is.
MISTAKE #5: Arriving spin-chillingly late
Want to send your potential employer to their grave? Arrive late. It is more common than one thinks. Being late right off the bat makes the employer question your punctuality if hired.
Instead: Be on time! In fact, arrive at least 30 minutes earlier than your scheduled interview. This allows you to scope the surroundings and calm your nerves.
MISTAKE #6: Asking corpse-like questions
Every interview has a part that asks, “Do you have any questions for me?” This is the time for the candidate to shine and really express interest in the position. But, I cannot tell you how many times I get questions that are stale and still, leaving me pale like a corpse.
Instead: Show up with meaningful questions that truly give sight to what the position entails and to the culture of the company. Not sure what that looks like? Consider asking the following:
This is just my top list. What other common SCARY mistakes rattle your bones? Not providing solid references? Rambling on? Comment below.
Nowadays, hiring managers need to be nimble when it comes to securing top talent. And, based on the pace needed to secure top candidates for a position, you would think that a majority of companies have efficient and smooth hiring processes. However, that is not always the case.
In my last post, I talked about five ways hiring managers can quickly search and find the right talent to vet. Yet, while half of the battle is finding the right people to interview, the other half of the battle is actually taking candidates through the interview phase. In part two of my two part post, I provide my top five tips to quickly move through the interview process.
Finding the right talent is crucial to the success of any organization. Some organizations believe that a longer hiring process is useful because it provides the company enough time to compare candidates and secure the right talent. But, in today’s day and age, the right talent has most likely been picked up by another company by the time you take them through your tedious hiring process. To ensure you do not lose out on a potential top performer, speed up your hiring process all the way from finding the talent, to actually interviewing them and supplying a job offer. After all, a little speed never hurt anyone.
In today’s day and age, top talent is in high demand and in short supply. Despite the demand, many organizations have slow hiring processes. According to The Wall Street Journal, employers, on average, are taking 25 days to fill vacant positions, with the average increasing to 58.1 working days at companies with 5,000 or more employees. Time is money. If you leave a $150,000 position open for just one additional month, that equates to $37,500 to $62,500 of lost opportunity the company will never see (according to a study done by CareerBuilder).
Do not lose talent to competitors, counteroffers or frustration due to a long hiring process. In part one of my two part post, I provide my top 5 tips to quickly search and find the right talent you wish to vet.
As the talent pool continues to shrink and becomes more competitive each day, organizations must keep their eye on the prize. You do not want to and cannot risk losing a quality candidate. In a nutshell: plan ahead – know what talent is available and make it easy for them to apply. Organizations that learn to improve the speed of simply finding a candidate to interview will gain a competitive advantage.
Be on the lookout next week for part two of my two part post, which focuses on how to speed up the vetting/interview phase once you have a group of solid candidates.
Time and time again I have heard horror stories about candidates’ hiring experiences. So what part of the job hunt is the most frustrating for candidates? Here is my top 5 list:
1. Not Hearing Back
I think the number one thing that annoys job seekers is not hearing back from hiring managers. While a company might be flooded with hundreds of applicants and cannot respond to every applicant, this black hole can be irksome. To make matters worse, some hiring managers express interest in applicants and then suddenly disappear for a prolonged period of time or don’t respond to the candidate even after the interview has taken place.
Tip: First, be patient. HR is probably being flooded with hundreds of inquiries. Second, where possible, take an alternative route by connecting with employees inside the company. Ask them to forward your resume to the right person or to follow up on where the company is in the hiring process. Making connections inside the company might lead to faster results.
2. Tedious Application Process
Statistics show that approximately 50% of mid-sized companies and almost all large corporations use online application systems to screen and filter through numerous candidates. Unfortunately, this software is not always customized by the employer, is too lengthy or does not auto-populate the resume into the online form – making the application process very tedious for the candidate. The candidate is often left frustrated thinking, “Why did I spend all that time writing down all my history only to then be asked to submit my resume as well?”
Tip: While these online applications are unavoidable, I recommend taking the time to ensure accuracy when filling out the application. Additionally, these online systems are designed to automatically filter through applications, meaning generic resumes will not make the cut. When applying, tailor your materials and content to meet the needs of the employer. Research “buzz words” and review the job description in detail to guide you.
3. Job Descriptions That Lack a Job Description
Many companies leverage previously produced or Google-searched job descriptions. This can lead job seekers on a lengthy road that goes nowhere. Many find down the road that the company they are applying to is not something they were interested in at all, or even qualified/over-qualified for. Job-seekers regularly find themselves applying and interviewing for jobs that bear little similarity to what they thought they were applying for. Now that is just a waste of time for the candidate and for the employer involved in reviewing the applications.
Tip: How else will candidates know that they fit the needs of the company if it is not clearly articulated in the job description? When possible, inquire about the job description in more detail and research the company/hiring professional responsible for filling the role. But, also ask yourself if this is a place you are serious about applying to. A company without a job description or lack of detail in the description may reflect upon the company’s structure throughout the organization.
4. Mass Networking Events
I often hear about candidates attending networking events but then find the event to be a huge waste of time. Mass networking events can be awkward for job seekers especially if you do not know anyone there or are naturally introverted.
Tip: Make sure you are networking in the right areas. Spend your time networking at places that are specific to your industry. Try and get the attendee list to target a select group to research beforehand and then connect. Focus on individuals that have actual decision making power in the company.
5. Needing Experience to Get Experience
We live in a world full of contradictions. Job seekers apply for jobs to gain experience but are expected to come in with years of experience already on their belts. This is especially frustrating for millennials and recent college graduates entering the workforce. How does that even make sense?
Tip: So, how do you overcome a job description that asks for 5+ years of experience? Focus on the skills needed to fill the role and apply anyways. Rarely do applicants meet all of the job requirements. Additionally, if you lack great experience, make up for it in other ways. Immerse yourself in the industry, know the trends, have an opinion, network and obtain internships.
Being a recruiter, I understand that the job search can be tedious, frustrating, time consuming and competitive for job seekers. It is up to the hiring manager to ensure the hiring process is a great one as it reflects greatly or poorly upon the company’s reputation. Looking for ways to stand out with a stand up hiring experience? Read my recent post here.
So, what else really grinds your gears about job hunting? Comment below and keep the conversation going.
In my experience as a recruiter, I have seen two main interview formats: one-on-ones and panel interviews. Panel interviewing allows multiple people to interview a candidate at the same time while one-one-ones consist of individual interviews with each candidate. So which is better? I have heard horror stories about why panel interviews are a bad format to use for hiring and assessing candidates.
But to be honest, to panel or not to panel, should not be a question. When organized properly, panel interviewing is more effective and efficient than traditional one-on-one interviews. We’ve all heard the cons regarding panel interviewing, so what are the pros?
Panels can save time and resources
If it is not already obvious, panels reduce the time it takes to hire a candidate. According to The Wall Street Journal, employers, on average, are taking 25 days to fill vacant positions, with the average increasing to 58.1 working days at companies with 5,000 or more employees. Factoring in the risk, time and resources needed to take candidates through a hiring process utilizing one-on-one interviews can have adverse outcomes on the bottom-line. Having numerous interviewers assess the candidate at the same time eliminates back-to-back interviews and follow-ups, which will result in cutting down on the time it to takes to hire someone.
Some might argue that a company spends more time coordinating a panel interview; and this, more times than not, results in a loss of a good candidate to other employers. But, this does not make one-on-one interviews more efficient. To avoid this, spend the time upfront to create a panel interviewing strategy as part of your hiring process. This upfront work will save you time down the line for future hires.
Panels offer a better assessment of the candidate
When there are structured roles and a mix of accomplished-based and behavioral interview questions, panel interviewing can help to create a better, overall accurate portrayal of the candidates’ experience, motivations and potential to fit within the company culture.
Panel interviewing allows time to listen intently and better analyze the candidate’s body language and answers when other interviewers are asking questions. Additionally, since roles and responsibilities are structured in advance, it ensures all of the right questions are asked and that the panel can focus on different aspects of the candidate’s expertise.
Panels ensure that biases tend to be minimized
Because the panel is made up of different viewpoints and levels of expertise, each panel member offers a unique assessment of the candidate, which results in a more objective interviewing format. Having multiple panel members often leads to fresh perspectives. Different panel members might inquire about specific answers in more detail lending itself to important information – questions that, other panel members might have not thought to ask.
Additionally, multiple interviewers allow for a better weighted and productive conversation following the interview because all impressions are based off of the same experience with the candidate. Active discussion allows for the panel to address concerns and bring all thoughts to the table – helping to come to an unprejudiced decision.
BONUS FOR CANDIDATES: Panels provide candidates a view of what it is like to work for the company
A well-organized and professional panel gives the impression that the company runs smoothly and efficiently. How the panel interacts with one another also gives sense to how effectively individuals at the company work together. Candidates often leave panel interviews with a better understanding of the job and company culture, and that helps them to immediately assess whether or not they would be a good fit.
At the end of the day, preparation is crucial when conducting a panel interview. The horror stories I have read about panel interviewing come from individuals that did not take the time to formally structure the panel. Make sure each panel member understands not only their role in the interview and what types of questions to ask, but also the job description and core qualifications the candidate should possess. Adequate planning and coaching can lend to better results and a clearer understanding about what the company is trying to achieve by hiring for the role in the first place.
Turnover is a reality and a big concern for executives in today’s world. The costs of turnover can be detrimental – from lost productivity to the time it takes to hire and onboard a new employee. In a study conducted by the Center for America Progress, the actual cost of losing a highly trained employee making $120,000 a year could be a true loss up to over $255,000 to the company (213% of the salary).
With that in mind, I found this employee retention report by TINYpulse, which surveyed 400 full-time U.S. employees. Let explore the reasons employees leave their jobs and address what you can do to make sure turnover doesn’t become a trend in your workplace.
Relationship with supervisor
28% of micromanaged employees are more likely to think about a new job.
As the old saying goes, people leave managers, not companies. The study found that employee job satisfaction correlated with the employees’ ability to have independence in the workplace. Employees want the ability to make decisions on how to do their jobs. In addition, employees were 68% more likely to think about a new job if they had a disrespectful manager. To add fuel to the fire, employees with low levels of peer recognition are 11% less likely to stay at their current job.
Tip: Provide your employees an opportunity to use their skills and abilities, giving them a sense of accomplishment and pride in the workplace. Empowering employees and providing a sense of autonomy or decision-making power, while recognizing job performance in the process can go a long way.
Lack of advancement opportunities
Employees are 10% more likely to stay with their organization if there are professional growth opportunities.
The study showed that professional development and training access impact employee retention. Professional development is growing ever more crucial. If an employee can’t see their growth potential in your current organization, they are likely to look elsewhere.
Tip: Make sure that your employees are in a constant state of learning. Create a growth plan for each employee. Whether that is through coaching, supporting training and development with tuition assistance, providing simple feedback or chances to visit conferences, professional development opportunities can be a deciding factor in whether or not an employee stays in their position if other advancement opportunities such as job promotions are not currently available.
Negative work-life balance
31% of burnt out employees are more likely to leave their job.
We all know that our jobs can be demanding, requiring us to work at nights and even on weekends sometimes. In fact, in today’s day and age, it is now expected. Add in company changes like a restructuring or growing demands from management, your employee is likely to burn out, leaving your employee no choice but to choose between their personal life and career. A positive work-life balance can lead to a 12% lower chance of attrition.
Tip: Allow flexible work arrangements such as working from home options or flexible work hours. Implement a “be where you need to be culture” allowing employees autonomy in where and how they complete the work. Additionally, encouraging employees to use PTO makes them 13% more likely to stay. As an added bonus, implement small perks like gym memberships, weekend “staycation” deals or even small comforts such as snacks and free meals. For individuals working beyond the typical 40 hour week, especially for those that travel, benefits like these can really help your employee maintain and upkeep their personal life, causing less stress and more productivity.
Poor corporate culture
Employees are 40% less likely to think about a new job if there is a positive work culture
Your overall culture keeps employees – or pushes them away. The study showed that 12% of employees were less likely to see themselves staying at their job if they did not fit culturally. While it is not easy to define and articulate, culture matters becuase it influences the work experience. Positive work experiences and peer relationships can help make a demanding job manageable.
Tip: Build relationships with coworkers and your teams to build peer respect. Provide perks that demonstrate caring and respect. Companies that implement activities and team building have a 10% higher chance of retention. Additionally, get back to basics. Establish your employee value proposition and create an employee engagement strategy providing experiential activities surrounding the corporate culture, mission, vision, etc… To be truly successful, your corporate culture must be reflected in every aspect of the employee experience.
FINAL THOUGHT: Lack of salary growth
The study seemed to miss one reason employees leave their job, which I find is worth mentioning…COMPENSATION. You can have a great relationship with your employer and receive good benefits, but without compensation over an elongated period of time, employees will consider leaving if a higher paying position comes around. In the end, money may not be the first reason why employees leave an organization, but employers should consider offering competitive compensation packages and utilize career conversations to outline growth strategies/timelines that encompass plans for salary growth.