The Most Important HR Function

Finding and hiring suitable candidates to expand your company is vital to its success. It all begins with a well-managed employment procedure. After all, hiring the wrong person costs your business time and money.

According to the Society of Human Resource Management (SHRM), it takes thirty-six days to fill a vacant position.

When done right, an efficient employee recruiting process saves time, improves the hiring process, increases employee engagement, and raises your company’s brand. It also gives your company a tactical advantage in a highly competitive marketplace.

The Scope of Recruitment and Selection as the Most Important HR Department Function

According to a new report by The Boston Consulting Group titled, recruiting is the most significant human resources activity in terms of ROI.  More than 4,000 people from 102 countries were polled to compare high- and low-performing firms on 22 distinct people-management characteristics.

The analysis ranked each critical HR function based on its economic impact. Companies that succeeded at recruiting grew their revenue 3.5 times faster than their less adept competitors. The areas with the most significant effect were onboarding, retention, and talent management.

HR specialists, executives, and managers know that recruiting and selecting qualified candidates is one of the most critical workplace decisions and forms the crux of your recruitment strategy. 

If you have inept management, it all comes down to who you hire to lead. If you have low-performing personnel, you should reconsider your hiring. There is fierce rivalry for skilled and talented individuals, including competition from other countries. The good news is that plenty of qualified, educated, and intelligent people are accessible; all you have to do is locate them. Large corporations are always competing for talent.

If you’ve been following mergers and acquisitions, you’ll know that Oracle just purchased Taleo, a talent management and recruiting software business (also known as an ATS), for $1.9 billion. Moreover, SuccessFactors was purchased by SAP for $3.4 billion.

When you add in Recruit’s billion-dollar acquisition of Indeed, it’s clear that substantial money is being spent developing efficient and inventive ways to find talent.

Tiffany Kuehl, a Fortune 100 company’s Talent Acquisition and Staffing Leader and President of TCHRA, an SHRM affiliate chapter, said, “You must speak with the interviewers and management to ensure that they have a true understanding of what they want and need from a candidate.” You may need to reshape the design, scope, and expectations to match the company’s demands. It’s not only about seeking foreign applicants; internal talent must also be moved.”

Why Is a Proper Recruitment and Selection Procedure Required?

Recruitment is known as recruiting qualified individuals for open job postings at your company. In contrast, the process of identifying and selecting the best candidate for that position is known as selection.

Each employee’s efforts are critical to the company’s survival and growth. A terrible hire can impair the company’s overall outcomes. When you hire the incorrect person, the consequences are often far worse than not hiring at all! Recruiting is a vital strategic activity for the organization, as well as an operational one.

As a result, a solid recruitment and selection process must be developed.

A suitable procedure demonstrates your company’s professionalism and your expertise in attracting and hiring the best job seekers.

Furthermore, a good recruitment process aids in proactively developing a talent pipeline, which aids in achieving mid and long-term company goals.

Recruitment involves numerous parties, including senior firm personnel, and can be time and money-consuming. As a result, ensuring the process is well-defined and optimized to fulfill the interests of all parties involved is critical.

Steps to Consider in a Successful Recruitment Process

A few things to remember to have a smooth recruitment process:

Tap on Social Media for Job Advertisements and Job Descriptions

Create a job description database and connect job opportunities to well-defined job descriptions and abilities. This benefits the recruiter, hiring manager, and even the candidate.

You should post job opportunities on your website’s “Careers” page and other social media platforms. You want to be visible everywhere, especially on social media platforms, where most of your potential prospects hang out.

Social networking sites such as Facebook, Twitter, and LinkedIn have proven to be excellent tools for locating applicants, engaging them, and informing them of available positions. Ninety-two percent of businesses use social media networks for recruitment, and the benefits of social recruiting have been established.

According to 42% of those organizations, adopting social recruitment strategies has increased the quality of their prospects. These channels are also great for placing the brand and culture in front of suitable candidates, piquing their interests, and building talent pools.

In addition, according to Mediabistro, 14.4 million job searchers in the United States utilize social media in their job search. Social media is the essential technique used by 29% of their survey respondents in their search.

Resolve a Streamlined Approach to Make Application Procedures Easier

You want to pique a candidate’s interest and sell the position. A lengthy application process turns off most prospects. The best candidates should be able to register once and submit their resumes for many openings, and the application process should function across all devices, including mobile.

Figure out a streamlined hiring approach so recruiters can accept, review, and manage resumes all in one spot. Use short yet detailed line items to convey the job’s critical tasks. Make sure your core responsibilities correspond to the ones you’ve been given. Make it obvious where candidates can delegate or collaborate when necessary.

Furthermore, start effectively managing your candidates and resumes once you have figured out the correct streamlined approach for hiring top talents. Create a database with easy labeling and searching capabilities so that old submissions are not frequently misplaced. Maintain a list of candidates and notify them of new openings.

Assign pre-screened candidates to interviewers and send automatic reminders to both candidates and interviewers.

Maintain Communication With Potential Candidates

It’s critical to communicate with prospects regularly. They may not have been hired for the job they applied for, but they could be a good fit in the future.

According to a recent poll, 34% of candidates prefer more outstanding communication from firms during the employment process. Candidates want to know how they’re doing and if you’re still interested in them. When people don’t know where they stand with a potential employer, especially when their livelihoods are on the line, it irritates them.

You can provide automatic updates to applicants throughout the process using an application monitoring system. These extra interactions show candidates that your business appreciates their time, whether you’re merely telling them when they can expect to hear back or giving them more extensive instructions. 

Keeping in touch with them creates relationships and reduces the time required to hire future candidates.

Create a Solid Onboarding Procedure

Improve new hire readiness from the start by onboarding them smoothly. Employers can enhance retention rates by obtaining early buy-in from new staff. According to the 2019 North America Mercer Survey, companies in the United States have an average turnover rate of around 22%.

Companies pay between half and two times an employee’s annual salary to replace them, making this a pricey trend. According to a Bamboo HR report, the first six months after recruiting new employees are essential because 31% of new hires are likely to quit.

Keep Track of the Recruitment Process

Keep precise statistics on different portions of the process to iteratively enhance the recruitment and selection process. Resumes received, resumes evaluated, interviews, no-shows, a job offer, acceptances, time to hire, and so on are some of the recruitment metrics you can track.

The recruiting team’s primary purpose is to find the ideal employee, and implementing the correct procedure can improve the experience of the candidate, interviewer, hiring manager, and human resource department. It can also assist you in improving the efficiency of your company.

HR experts must follow proper recruitment and selection procedures to attract the best employees for their company.

To know more about how to improve the efficiency of your recruiting process, Recruiter.com should be able to assist you and customize your strategies to scale your hiring team. Contact us today to find out what recruiting solution is right for you!

 

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