Deconstructing the Recruiting Funnel

Data-driven analysis and decision making is even more important today in talent acquisition than it was just a few year ago. And understanding some of the most important benchmarks can help your recruiting organization recognize how it stacks up compared to other enterprise organizations. Based on Jobvite’s internal data, we were able to aggregate the most common metrics used to assess recruiting effectiveness. In this post, you’ll not only see the metrics, but also benchmark numbers and conversion rates, so you can compare and track your recruiting funnel health, efficiency, and performance.

Recruiting Benchmarks

#1: Website Visitor to Applicant Ratio: 34.6%

• If your conversion rate is more than 35%, you are doing great; you probably have a well-known employer brand and a career site that attracts and engages visitors.
• If your conversion rate is less than 34%, you are below the industry benchmark, so you should prioritize improving your employer brand and optimizing your career website with tailored content that will convert visitors into applicants.

#2: Average Number of Applications Per Job: 24.3

• The tight labor market in the last year has shown that it is challenging for employers to attract quality candidates.
• If your average number of applications per job is number is above 25, you are performing above the benchmark of applicants per open role.
• If your number is below 24, it doesn’t necessarily mean that you are doing something wrong. It could just mean that your roles are specialized and attract fewer applicants.

#3: Application to Interview Ratio: 8.4%

• The conversion rate from applicants to scheduled interview has decreased in recent years; for the last 12 months, the current application to interview ratio is down to 8.4%; this is down from around a high of 12% in the last decade.

#4: Interview to Offer Ratio: 36.2%

• This number has grown fairly significantly. While the interview to offer ratio had hovered between 16% and 19% during the last decade, this number has risen sharply to more than 36%. This could mean more quality candidates are given opportunities for interviews or employers want to widen the field when it comes to candidates reaching the interview stage.

#5: Offer to Hire Ratio: 55.6%

• While this number had held steady in the 80% range for some time, the offer to hire ratio has gone down fairly sharply within the last few years. This means that about every 1 in 2 applicants accepts an offer they are given by an employer.

#6: Time-to-Hire: 43 Days

• Time-to-hire for most organizations hovers around more than 40 days, and currently, it is sitting at 43 days as the latest benchmark. This means that within just over one month, companies are filling their open roles. With hiring a game of speed, it is critical to determine areas where you can reduce the time to hire overall, including shortening feedback loops internally and moving candidates quickly through the hiring process.

#7: Top Sources by Hire

• Understanding where your top sources are coming from is also integral in knowing how to get more of your best talent. From a benchmark perspective, top sources of talent are coming from direct or private browsing, Indeed, company career site, and Google. Spending time and resources to support candidates as they look for open jobs on these sources is paramount to staying competitive in finding top talent.

A Few Things to Keep In Mind

Remember, how you capture your company data depends on your processes. Make sure to have the right processes in place to ensure your data is consistent and usable for decision making. Also, remember to track the data that means the most to your business. And finally, remember the difference between must-have data and nice-to-have data. It is essential to identify which data can help your talent acquisition function optimize performance.

Get more industry data and recruiting benchmarks from the latest Employ Quarterly Insights Report or follow our blog to stay up-to-date on the latest talent acquisition insights.

The post 7 Benchmark Metrics to Help You Master Your Recruiting Funnel first appeared on Jobvite.

Recruitment metrics are designed to measure successes and bottlenecks in the recruiting process. Metrics include key performance indicators (KPIs) that help measure progress in your recruiting strategy. These metrics allow for agility in recruiting, pointing out trends and potential issues as they happen.

As the talent landscape continues to evolve and challenges arise, recruiting teams have had to get even more nimble and learn how to analyze talent data in real-time to adjust and improve their processes. An analytics platform that automatically reports on key metrics can empower your company to make those data-driven decisions in real-time. In fact, leveraging recruiting analytics to drive greater visibility, smarter automation, and more predictable hiring results is the ultimate goal of using a data-driven approach.

From the number of open reqs to application source to candidate conversion rates, time-to-fill, quality of candidate, source of hire, DEI data, and internal mobility, there is virtually no end to the recruiting data you can track. So it’s critical to find out the most important metrics to your business and then keep a clear pulse on that data.

When you leverage a data-driven approach, you can more easily deliver better candidates faster, and continuously improve how you hire talent for your company. Let’s dig in a bit further on what data-driven recruiting is, examine the benefits for your organization, and give you some examples of the types of recruiting metrics to measure.

What Is Data-Driven Recruiting?

Data-driven recruiting is an approach to hiring that uses analytics specifically for talent acquisition to inform and improve the recruiting process. For talent acquisition professionals, getting a handle on their analytics, creating visibility, and shining a light on the most vital aspects of their performance is critically important. By tracking metrics, such as funnel, source performance, quality of talent pool, satisfaction scores, and diversity you can see how your recruiting strategy is performing, fine-tune what’s broken in the hiring process, and continuously improve.

Interestingly, seven percent of a company’s total operating budget is spent on talent acquisition, and the average cost per hire is about $4,000. According to Aptitude Research, 82% of companies say data plays a critical role in driving talent acquisition decisions. Yet despite these big numbers, only about 50% of companies measure their recruiting effectiveness at all. Not being on top of your data in today’s technology-enabled world is a disaster waiting to happen. And it gets more pronounced when you think of the perceptions, or misperceptions, of your key stakeholders, including your hiring managers.

The right talent acquisition suite offers the capability to collect critical talent insights and provide real-time information on key recruiting metrics, making the hiring process more efficient for recruiters, more impactful for hiring managers, and more desirable for candidates.

Talent acquisition technology can bring the data together all in one place so you can see up-to-date candidate experience metrics, sourcing effectiveness metrics, and overall hiring metrics. Tracking recruiting benchmarks can also help your business understand where their best sources of talent come from, so you can deliver more predictable hiring outcomes and get even more agile in your recruiting approach. Remember, recruiting is all about speed and knowing how to make faster, smarter decisions is the name of the game.

Top Benefits of Data-Driven Recruiting

When an organization is dedicated to increasing agility by leveraging recruiting data and analytics, it can benefit greatly. Here are a few of the most common benefits:

#1: Improved Sourcing Effectiveness

For too long, recruiters and hiring managers have had to find candidates based on feel and previous experience. But the sheer volume of open positions and time required to source quality candidates requires a better approach. What worked previously may not work any more. And finding the right talent for your business requires a more informed approach.

Data-driven recruiting can help you uncover more quality candidates by specifically understanding source effectiveness and measuring items like number and quality of sourced hires. Having the ability to measure, analyze, and refine your sourcing function is a key component to optimizing your entire recruiting operation. With solid strategies, defined processes, capable CRM and sourcing technology and thoughtful analytics, sourcing can become a core competency for any organization. This means you can find more talent from the places that deliver better hires consistently for your business.

#2: Enhanced DEI Initiatives

Leveraging data-driven insights and analytics can also enhance agile recruiting by better supporting diversity, equity, and inclusion. When you are laser focused on expanding the inclusiveness of your workforce, recruiting analytics can help you track and report on the diversity of your hiring funnel based on key DEI data. With insights to help identify top DEI candidates, you take the time and guesswork out diversity hiring, while also eliminating unconscious bias. And that helps ensure you hire candidates who will widen the perspectives of your organization and contribute to higher performance levels in your business.

#3: Decreased Hiring Costs

By focusing on the best sources for talent and streamlining the hiring process using data-driven insights, your business can help decrease overall hiring costs. Ensuring you identify and tackle roadblocks to hiring, you can decrease time-to-fill or the elapsed time between a job opening is posted and when it’s filled.

Measuring time-to-fill can help you understand the real cost of filling a role, especially since productivity and revenue can both suffer the longer a job remains open. Plus, starting with more qualified candidates allows you to save time and resources on talent that may be a poor fit for the role. Having those key insights into where you should post your jobs and identifying which channels bring the highest quality candidates takes the guesswork out of hiring, helping you reduce hiring costs and empowering you to fill positions more quickly.

#4: Improved Candidate Experience

When you collect data regarding your hiring process, it can help you identify pain points for candidates and create a more positive candidate experience overall. Identifying candidate conversion rates along the recruiting journey helps you identify candidate engagement levels, especially as you encourage candidates to apply.

Perhaps you are not converting at the point of application or you are seeing candidates fall off after the interview process. Or maybe candidates are not accepting offers and your offer-to-acceptance ratio has decreased. Whatever it is, understanding key areas throughout the candidate experience can help you pinpoint areas where potential hires are not receiving an optimal candidate experience so you can work to improve their interactions.

What Recruitment Data You Should Measure

It’s clear that data analytics yield powerful insights, but which of those insights should you focus your efforts on? Assess your current situation by first measuring specific items in these three categories. Examples are provided for each type below:

• Speed-based recruitment metrics: Time-to-fill, time to disqualify, time to offer, time to acceptance
• Quality-based recruitment metrics: Source of candidate, source of hire, applications per requisition, application completion, submission to acceptance rate, quality of hire, hiring manager satisfaction
• Cost-based recruitment metrics: Cost per hire, cost per channel, cost per applicant, cost per job board, cost per candidate conversion

With leading talent acquisition technology, you can accurately capture and analyze recruitment data and take charge of identifying where you can improve your hiring process and deliver an optimal candidate experience.

Get More Agile with Data-Driven Recruiting

To get the most value from your recruiting data, you need real-time analytics that will improve your responsiveness and ability to make better hiring decisions. When you leverage the right recruiting data for your business, you can become more in tune with the performance of your talent acquisition function and also outperform your competition in connecting with candidates.

Ready to learn more? Download our Recruiting Metrics Toolkit or stay up-to-date with the latest recruiting insights by signing up for our Jobvite Blog Digest.

The post How to Achieve Agile Recruiting Using a Data-Driven Approach first appeared on Jobvite.

Data from Employ reveals more than 80% of talent acquisition professionals acknowledge recruiting has become more challenging over the past year. And 62% of recruiters say their top priority is increasing quality of hire. With a lack of qualified candidates, organizational leaders must take the opportunity to examine what is working to understand where they should focus.

From a strategic leadership level, emphasizing hybrid work options, supporting DEI initiatives, making compensation and total rewards adjustments, and addressing applicant flow have been the most impactful in competing in the challenging hiring environment.

For recruiting to function as a strategic lever within an organization, business and talent leaders must provide recruiters with the tools and resources necessary to compete in a dynamic labor market. Recruiters recognize the need for additional tools, which is supported by Employ data, with 63% of HR decision makers and recruiters anticipating that an increase in recruiting technology spend would be necessary in the next 6 – 12 months.

The Opportunity for Leaders to Support a Data-Driven Talent Acquisition Function

Talent acquisition has a huge opportunity today — to become more agile using data-driven insights. Optimizing recruiting based on key performance metrics can help your organization make smarter, faster decisions and spot any areas that need to be addressed to streamline your hiring efforts.

Recruitment metrics are designed to measure successes and bottlenecks in the recruiting process. Metrics include key performance indicators (KPIs) that help measure progress in your recruiting strategy. These metrics allow for agility in recruiting, pointing out trends and potential issues as they happen.

As the talent landscape continues to evolve and challenges arise, recruiting teams have had to get even more nimble and learn how to analyze talent data in real-time to adjust and improve their processes. An analytics platform that automatically reports on key metrics can empower your company to make those data-driven decisions in real-time. In fact, leveraging recruiting analytics to drive greater visibility, smarter automation, and more predictable hiring results is the ultimate goal of using a data-driven approach.

From the number of open reqs to application source to candidate conversion rates, time-to-fill, quality of candidate, source of hire, DEI data, and internal mobility, there is virtually no end to the recruiting data you can track. So it’s critical to find out the most important metrics to your business and then keep a clear pulse on that data.

When you leverage a data-driven approach, you can more easily deliver better candidates faster, and continuously improve how you hire talent for your company. Let’s dig in a bit further on what data-driven recruiting is, examine the benefits for your organization, and give you some examples of the types of recruiting metrics to measure.

What Is Data-Driven Recruiting?

Data-driven recruiting is an approach to hiring that uses analytics specifically for talent acquisition to inform and improve the recruiting process. For talent acquisition professionals, getting a handle on their analytics, creating visibility, and shining a light on the most vital aspects of their performance is critically important. By tracking metrics, such as funnel, source performance, quality of talent pool, satisfaction scores, and diversity you can see how your recruiting strategy is performing, fine-tune what’s broken in the hiring process, and continuously improve.

Interestingly, seven percent of a company’s total operating budget is spent on talent acquisition, and the average cost per hire is about $4,000. According to Aptitude Research, 82% of companies say data plays a critical role in driving talent acquisition decisions. Yet despite these big numbers, only about 50% of companies measure their recruiting effectiveness at all. Not being on top of your data in today’s technology-enabled world is a disaster waiting to happen. And it gets more pronounced when you think of the perceptions, or misperceptions, of your key stakeholders, including your hiring managers.

The right talent acquisition suite offers the capability to collect critical talent insights and provide real-time information on key recruiting metrics, making the hiring process more efficient for recruiters, more impactful for hiring managers, and more desirable for candidates.

Talent acquisition technology can bring the data together all in one place so you can see up-to-date candidate experience metrics, sourcing effectiveness metrics, and overall hiring metrics. Tracking recruiting benchmarks can also help your business understand where their best sources of talent come from, so you can deliver more predictable hiring outcomes and get even more agile in your recruiting approach. Remember, recruiting is all about speed and knowing how to make faster, smarter decisions is the name of the game.

Top Benefits of Data-Driven Recruiting

When an organization is dedicated to increasing agility by leveraging recruiting data and analytics, it can benefit greatly. Here are a few of the most common benefits:

#1: Improved Sourcing Effectiveness

For too long, recruiters and hiring managers have had to find candidates based on feel and previous experience. But the sheer volume of open positions and time required to source quality candidates requires a better approach. What worked previously may not work any more. And finding the right talent for your business requires a more informed approach.

Data-driven recruiting can help you uncover more quality candidates by specifically understanding source effectiveness and measuring items like number and quality of sourced hires. Having the ability to measure, analyze, and refine your sourcing function is a key component to optimizing your entire recruiting operation. With solid strategies, defined processes, capable CRM and sourcing technology and thoughtful analytics, sourcing can become a core competency for any organization. This means you can find more talent from the places that deliver better hires consistently for your business.

#2: Enhanced DEI Initiatives

Leveraging data-driven insights and analytics can also enhance agile recruiting by better supporting diversity, equity, and inclusion. When you are laser focused on expanding the inclusiveness of your workforce, recruiting analytics can help you track and report on the diversity of your hiring funnel based on key DEI data. With insights to help identify top DEI candidates, you take the time and guesswork out diversity hiring, while also eliminating unconscious bias. And that helps ensure you hire candidates who will widen the perspectives of your organization and contribute to higher performance levels in your business.

#3: Decreased Hiring Costs

By focusing on the best sources for talent and streamlining the hiring process using data-driven insights, your business can help decrease overall hiring costs. Ensuring you identify and tackle roadblocks to hiring, you can decrease time-to-fill or the elapsed time between a job opening is posted and when it’s filled.

Measuring time-to-fill can help you understand the real cost of filling a role, especially since productivity and revenue can both suffer the longer a job remains open. Plus, starting with more qualified candidates allows you to save time and resources on talent that may be a poor fit for the role. Having those key insights into where you should post your jobs and identifying which channels bring the highest quality candidates takes the guesswork out of hiring, helping you reduce hiring costs and empowering you to fill positions more quickly.

#4: Improved Candidate Experience

When you collect data regarding your hiring process, it can help you identify pain points for candidates and create a more positive candidate experience overall. Identifying candidate conversion rates along the recruiting journey helps you identify candidate engagement levels, especially as you encourage candidates to apply.

Perhaps you are not converting at the point of application or you are seeing candidates fall off after the interview process. Or maybe candidates are not accepting offers and your offer-to-acceptance ratio has decreased. Whatever it is, understanding key areas throughout the candidate experience can help you pinpoint areas where potential hires are not receiving an optimal candidate experience so you can work to improve their interactions.

What Recruitment Data You Should Measure

It’s clear that data analytics yield powerful insights, but which of those insights should you focus your efforts on? Assess your current situation by first measuring specific items in these three categories. Examples are provided for each type below:

• Speed-based recruitment metrics: Time-to-fill, time to disqualify, time to offer, time to acceptance
• Quality-based recruitment metrics: Source of candidate, source of hire, applications per requisition, application completion, submission to acceptance rate, quality of hire, hiring manager satisfaction
• Cost-based recruitment metrics: Cost per hire, cost per channel, cost per applicant, cost per job board, cost per candidate conversion

With leading talent acquisition technology, you can accurately capture and analyze recruitment data and take charge of identifying where you can improve your hiring process and deliver an optimal candidate experience.

Get More Agile with Data-Driven Recruiting

To get the most value from recruiting data, you need real-time analytics that will improve your responsiveness and ability to make better hiring decisions. When you leverage the right recruiting data for your business, you can become more in tune with the performance of your talent acquisition function and also outperform your competition in connecting with candidates.

Ready to learn more? Download our Recruiting Metrics Toolkit or stay up-to-date with the latest recruiting insights by signing up for our Jobvite Blog Digest.

The post The Data-Driven CEO: How to Achieve Agile Recruiting and What it Means for a Volatile Job Market first appeared on Jobvite.

For talent teams that are looking to hire the best candidates, evolve recruiting processes, and improve key recruiting metrics, it might be time to upgrade talent solutions. Because a fully integrated, end-to-end TA suite, with a wide breadth and depth of capabilities, can transform talent acquisition and maximize hiring outcomes. That’s why we are thrilled today to introduce you to the Evolve Talent Acquisition Suite.

The Evolve Talent Acquisition Suite Is Recruiting Reimagined

What companies need most today is a unified talent acquisition suite that addresses the entire talent acquisition lifecycle and is fully dedicated to the talent acquisition function. That understands recruiters, supports hiring managers, and enables the widest range of functionality ever provided in a single solution. A system that goes far beyond the capabilities of an ERP just trying to check the box for recruiting. That embraces the full scope of recruiting beyond single-point or standalone solutions.

The breadth and depth offered in the Evolve Talent Acquisition Suite are what your TA team needs now to be competitive in the most difficult hiring environment in history. It’s time to move beyond where you are. To evolve your talent acquisition function. And to start transforming how you find and hire the best talent. It’s recruiting reimagined.

How Your Organization Can Benefit from a Holistic Talent Acquisition Suite

Looking for more reasons to supercharge your talent acquisition solution and evolve your recruiting efforts? Here are the biggest impacts that an end-to-end recruiting solution, like the Evolve Talent Acquisition Suite, can have on your business:

1. Enhancements to diversity, equity, and inclusion (DEI) initiatives

Today’s candidates expect a workplace that’s diverse in representation, offers equitable internal opportunities, and supports all employees. TA teams have been working hard to improve diversity, equity, and inclusion within the company to better attract quality talent. The journey to creating this culture is no accident — it takes time and effort from everyone. But talent teams can easily encounter roadblocks trying to focus on DEI recruiting, while also filling several open requisitions and improving processes all at once.

Luckily, unified talent acquisition technology can step in to reduce the workload of tasks like sourcing and scheduling, while also improving things like the diversity of talent pools and candidate experience. An evolved talent acquisition suite can do everything from grading job descriptions and building diverse talent pools to automatically sourcing and matching candidates.

2. World-class candidate, recruiter, and employee experiences

Gone are the days when a company can win and retain the best talent while providing a poor experience to candidates and employees. The Great Reshuffle demonstrated that TA teams must adapt their processes and technology to meet growing expectations from candidates and employees, or risk losing talent in the short- and long term to competitors.

Automation and AI are helping TA teams create intuitive candidate, recruiter, and employee experiences at every touchpoint in the organization — from job broadcasting all the way to internal mobility opportunities and employee referral programs. Leverage holistic TA technology to free up time for recruiters by automating tedious daily tasks like scheduling interviews, screening candidates, or answering candidate questions. This extra time can be used to build and refine the recruiting process to maximize results while providing a better, more personalized experience for candidates and employees.

3. Improvements to key recruiting metrics

As we all know, a great recruiting process takes time to build. And it takes even longer to get right. Unified talent acquisition technology, like that offered in the Evolve Talent Acquisition Suite, enables a robust analytics platform that can dive deeper into data to inform decision-making. In order to be agile, recruiting teams should consistently monitor key metrics in their hiring process and use the data to make improvements.

An advanced analytics portal helps transform recruiting by allowing TA teams and leaders to learn about roadblocks in their processes in real-time, making it easier to adapt to changes. It offers unique, customized reports and dashboards that automatically put important data in front of key stakeholders like leadership and hiring managers. Use data to reimagine recruiting strategies and create a better candidate, recruiter, and employee experience.

4. More robust employer brand and recruitment marketing strategies

In a tight labor market that favors candidates, recruiters have had to add another role to their growing list: recruitment marketer. Talent teams must build a strong employer brand to attract and hire top talent before they get snatched up by a competitor. In general, an employer’s brand should reflect their values and company culture, and tell candidates why they should come and work there.

An elevated employer brand will stand out to job seekers and show off a strong value proposition for working at the company. Here are some more elements of a strong employer brand:

• Demonstrated commitment to improving DEI in your organization
• A career site that shares a variety of employee stories and information about working for the company
• Makes the most of social media by engaging potential candidates and posting about work opportunities
• Engagement campaigns to keep candidate and industry connections warm, using social, email, and text

The Evolve Talent Acquisition Can Transform Your Talent Acquisition Function

The entirely reimagined Evolve Talent Acquisition Suite can move you beyond where you are now. And transform how you find the best talent. Find out to evolve your talent acquisition function and deliver better recruiting results. Curious to learn more? Watch our product tour and see how our end-to-end suite is built for modern recruitment.

The post The Top 4 Ways Your Business Will Benefit from a Unified Recruiting Solution first appeared on Jobvite.

Like most organizations today, you may be struggling to find enough qualified candidates, especially as you navigate the challenge of the Great Resignation. Or maybe you are losing internal candidates to your competitors? Over the last two years, talent acquisition teams have been adjusting continuously. For many organizations, addressing these shifts is made more difficult with technology that no longer supports their strategic talent acquisition needs.

That’s why we have created an interactive quiz to help you determine if a strategy and technology upgrade could move you forward in tackling your greatest recruiting challenges. Take a look at these challenges below, or you can go directly to the two-minute quiz now.

How to Tell It’s Time for a TA Technology Upgrade

1. Your company is struggling to find and attract top talent.

You’re not the only one. With the high demand for applicants, you must recruit like a marketer using the best technology available to find the talent your company needs. If your company can remove certain hiring barriers and bottlenecks, why wouldn’t you? This is exactly why companies have increasingly turned to technology for recruiting automation during the pandemic.

Automation improves recruiter efficiency by eliminating repetitive, administrative tasks and data entry errors. It can narrow down applications to the most qualified candidates quickly by integrating tools like chatbots. So, while the system is working in the background, engaging and informing candidates on-demand, your team will have more time to find and market to the best talent to fit your culture.

2. You need visibility to see where your best candidates and hires come from.

Do you have visibility into what sourcing is working and what’s not? Sourcing technology, such as Jobvite’s Source & CRM, can effortlessly publish job postings to 20+ job boards, including boards dedicated to specific audiences, and engage candidates through the channels they are most responsive to — whether that’s email, text, or social media. And a customized reporting tool gives you a bird’s eye view across all talent pipelines, helping to see pipeline activity in real-time and adjust strategies as needed.

3. You need a better referral program.

Employee referral programs are the second-highest hiring source (29%) for recruiters behind internal candidates. They reduce cost-to-hire and time-to-hire and are proven to attract employees who stay longer and perform better. However, most companies are only sourcing referrals from 15% of their employees. An end-to-end TA suite helps organizations harness their social capital. Offerings include automated incentive management trackers, automatic notifications, and referral analytics. Does your current TA strategy help you streamline your referral program and get better results, with less effort? 

4. You aren’t able to quickly make data-driven decisions.

Keeping pace with the demands of talent acquisition means making faster, more informed, data-driven hiring decisions. Does your system give you real-time visibility into the health of your talent acquisition program with embedded analytics, including displays of hiring trends and bottlenecks? Do you feel like you need to dive deeper into your data with reporting capabilities and custom reports that reflect your hiring workflows, and keep internal stakeholders up to date on hiring progress and achievements?

5. You need to streamline candidate communication within your core TA suite.

Today candidates open and respond to text messages more than emails. According to Jobvite research, there is a 98% open rate for recruiting texts versus 20% for recruiting emails. And 69% of respondents prefer text over email or phone calls for certain parts of the process.

One way to raise your company’s hiring game is by adding intelligent messaging (IM) and text integration to the mix. For instance, short text-in codes are a great way to engage potential hires when hiring at scale. They give job seekers an immediate way to respond to an opening. IM technology can also schedule and confirm interviews, send video links, share relevant web pages, and more. It helps build talent pools, leads to quicker candidate conversions, and is integrated right into your TA suite.

See What’s Right for Your Situation

As Harvard Business Review warns, a successful recruiting strategy today “starts with acknowledging that you won’t solve your current hiring challenges by applying the solutions of the past.” It’s not something to fear; talent leaders just need the right tools that empower them to move forward.

Take the quiz now to find out if it’s time to rethink your approach with a TA technology upgrade.

The post Take the Quiz: Is Your TA Technology Holding You Back? first appeared on Jobvite.

At Jobvite, we keep our finger on the pulse of talent acquisition to help customers recognize potential opportunities and make the most of them. Our new Top 10 Recruiting Trends for 2022 e-book digs into the important focus areas that we believe will shape the recruiting industry in the coming year. Below is just a sample of the insights you’ll find in the complete e-book.

What Will Impact Recruiting in 2022?

1. The “Great Resignation” and its after-effects: Over the past two years, companies everywhere have felt the impact of the “Great Resignation.” While there’s no telling how long this movement may last, it doesn’t have to stunt your business.

While employee turnover is normal, regardless of economic conditions, the best approach to managing this issue is two-fold:

• Take care of the employees who want to stay with your company long-term. Training, mentorships, and internal mobility are just a few ideas to nurture your most valuable assets. See #3 below for more.
• Minimize the impact of those who choose to depart. Build a strong talent pipeline that you can tap into when the need arises and leverage the power of employee referrals to fill open roles.

2. AI and automation for more “human” recruiting: While artificial intelligence might seem more like sci-fi than reality, the technology is catching up to the hype. Many organizations are turning to automation to streamline the hiring process and relieve recruiters of time-consuming, tedious, and repetitive tasks.

With more time to focus on the high-touch aspects of the job, talent teams are improving efficiency and delivering a better candidate experience. Candidate engagement scoring, text-to-apply, smart self-scheduling, and AI-powered chatbots are just a few of the many automated tools that are changing the face of modern recruiting.

3. Greater emphasis on internal mobility: When hiring conditions are tight, giving existing employees an opportunity to grow within your company is a win-win. Our most recent Recruiter Nation Report found that 40% of companies are making more internal hires since the pandemic began — yet nearly a third of workers (29%) say their employer doesn’t provide an easy way to apply for internal roles.

Don’t miss the opportunity to hold onto the top talent you already have. Jobvite offers internal mobility functionality to automatically recommend the best internal roles for an employee’s career path and create a VIP experience for internal candidates.

4. Better communication from start to finish: Delivering a great candidate experience is critical — especially when you’re trying to attract high-quality talent from a limited supply of job seekers. And the 2021 Job Seeker Nation Report found that employer communication is the most important factor in a positive candidate experience.

Nearly 70% of job seekers prefer texting for job-related communications, so automated messaging is a smart way to stay in touch with top candidates. With Jobvite’s Intelligent Messaging solution, you can use either text messages or chatbots to invite candidates to apply for a job, answer common questions, schedule interviews, share information, and more.

5. More demand for actionable analytics: Agility and efficiency are critical to recruiting success, which means that talent teams everywhere are working to drive better results with less effort — and fewer resources. But it’s difficult to know where to focus your efforts without deep, reliable analytics.

No matter how many tools are included in your HR tech stack, your data should tell a story, with reliable, real-time insights across the entire candidate experience. And with Jobvite’s Unify Advanced Analytics, it can. You can also take a look at our Recruitment Metrics Kit for actionable insights to improve your recruiting outcomes, ROI, and overall candidate experience.

The complete e-book includes additional details on each of these topics, plus five more trends to watch in 2022.

Are You Ready for the Year Ahead?

After the wild fluctuations and challenging conditions of the past several years, planning for the coming year may feel especially daunting. But Jobvite is here to help. Download Top 10 Recruiting Trends for 2022 for tips and insights to help you attract and engage top candidates — no matter what the future may hold.

The post What Lies Ahead for Recruiting? Here Are Five Trends to Watch in 2022 first appeared on Jobvite.

The 2022 Talent Acquisition Planning Kit

During the month of November, we’re releasing two worksheets per week about a variety of TA topics geared towards planning for recruiting in 2022. These worksheets will help your team evaluate current programs, list priorities, improve TA strategies, and make data-driven decisions to optimize recruiting. Every Wednesday and Friday in November, we’ll release a new editable worksheet to give you a full workbook of nine worksheets by the end of the month.

Help your TA team prioritize strategies and action items for the upcoming year. Look out for worksheets on topics like:

• Creating a high-level strategy for a successful year of recruiting
• Developing candidate personas
• Building targeted audience plans
• The importance of DE&I
• Best practices for talent acquisition metrics in 2022

Jobvite gives back this November

To celebrate the month of giving, each week anyone that downloads a workbook will be entered into a drawing. Winners are chosen every week and will get the opportunity to select from a list of charities for Jobvite to make a $1,000 donation. We’re looking forward to sharing our 2022 recruiting strategies and helping the community during November!

Sign up to receive an email each time a worksheet is added to the 2022 Talent Acquisition Planning Kit, to help you plan for recruiting success in 2022.

Winners have chosen these charities to receive a $1,000 donation from Jobvite:

Week 1

Congratulations to Melissa Whitlach, Talent Acquisition Supervisor at Freedom Financial Network, who chose to donate to Dress for Success. Dress for Success “empowers women to achieve economic independence by providing a network of support, professional attire, and the development tools to help women thrive in work and in life”. Congratulations to Melissa and thanks to Dress for Success for all they do to make the world a better place!

Download the 2022 TA Planning Kit

Ready to start planning for recruiting next year? Download the 2022 Talent Acquisition Planning Kit and keep your eyes out every Wednesday and Friday in November for new worksheets! Be sure to subscribe to the Jobvite blog and resource library and stay up to date on the latest in TA.

The post Get Ready for 2022 with the TA Planning Kit first appeared on Jobvite.

As we move into 2022, it’s clear that recruiting teams need help and are looking to their leadership to invest in their recruiting processes. As a TA leader, here’s where you can help improve the efficiency of your team and reduce stress.

Candidate and employee experience are key

The labor market today is centered around candidate and recruiter experience through the entire hiring process. In a time of high turnover and increased hiring, recruiters are more stressed than ever before trying to fill roles with qualified candidates. In fact, 65% of recruiters reported that their stress had increased at least some over the last year. And these short-staffed companies need happy recruiters to carry out an effective recruiting strategy.

TA leaders should focus on both the candidate and recruiter experience by simplifying the application process, adding automation and AI tools for recruiters, expanding DEI hiring efforts, and improving onboarding practices. These strategies can be used to improve valuable recruiting metrics:

• Quality of hire
• Hiring manager satisfaction
• Retention-of-hire rate
• Time-to-hire

There’s (still) a shortage of qualified talent

Even though The Great Resignation is leading to a record number of employees leaving their current jobs for more competitive offers, there’s still a shortage of qualified talent in the market. Candidate expectations for employers are at an all-time high, and they are waiting to find a company to meet their needs rather than taking the first offer that comes in. TA leaders need to get agile and adjust their screening process in order to find suitable candidates.

Companies are competing for top talent – and those that don’t adapt to this ever-evolving workforce will continue to have trouble attracting the right candidates. One of the biggest concerns for recruiters in hiring top candidates over the next year is the ability to provide remote work flexibility. 60% of recruiters believed that their organizations will lose their high-quality employees if they don’t transition to a remote-first work model.

Recruiters also reported that candidates are attracted to employers with things like remote work flexibility (44%), ability to negotiate salary (73%), organization DEI programs (49%), and benefits like medical and dental coverage (51%). It will be crucial to push for these perks in order to snag top candidates from competitors.

Agility will save your team time and effort

The best TA teams have adapted to this new labor market by adopting an agile recruiting strategy. Agility in recruiting allows teams to remain flexible and adapt as the market changes. 78% of recruiters reported that their priorities shifted over the last year – and agility helps teams quickly adjust. But agility isn’t just about being flexible and shifting priorities.

TA teams are combining technology and strategies to improve their recruiting process and hire top talent. Automation and AI are available to help teams source and match candidates, write inclusive job descriptions, make job recommendations, and more.

Here are just a few tools you can use to easily communicate with candidates and meet their expectations:

Text messaging – 60% of recruiters believe that texting is an effective way to engage and communicate with applicants during the recruiting process. By incorporating automated texting into your strategy, you can easily reduce frustrating delays in sourcing, screening, and even scheduling interviews.

Chatbots – Chatbots can also take care of stressful, manual processes and help recruiting teams automatically engage with talent on their career sites. In fact, many modern recruiters use chatbots to screen applicants (50%), schedule interviews (53%), and even take employee referrals (44%).

Social media – TA teams are seeing success with sourcing and engaging candidates on social media. Recruiters use social sites to post job openings (66%), reach passive talent (47%), build an employer brand (57%), and learn about candidates (30%).

Step up budgets to support agile recruiting strategies

The past year brought all types of changes to recruiting teams everywhere, and budgets were cut to as hiring halted. Now, companies have ramped up hiring and are looking to compete for the best candidates with a strong employer brand and value proposition. And that means an increased budget for recruiting activities.

An impressive 64% of recruiters reported that they expect budgets to increase over the next 6-12 months. Here are the top sources they plan to invest in for 2022.

• Social media (51%)
• LinkedIn (39%)
• Employee referrals (37%)
• Job boards (34%)
• Virtual hiring and recruiting (34%)

Final thoughts

Looking for more insights on the 2021 Recruiter Nation report? Be sure to read 4 Recruiting Trends to Watch for 2022 and watch the Recruiter Nation Report Webinar to hear how recruiters are getting agile to drive success. And don’t forget to subscribe to our blog and resource library to get the latest trends and priorities in recruiting.

The post Top Priorities for Talent Acquisition Leaders in 2022 first appeared on Jobvite.

Don’t worry if you missed the webinar – we’ve wrapped up our top takeaways from these experts.

Top Five Takeaways from the Recruiter Nation Report

5. Prioritize candidate AND recruiter experience

If we’ve learned anything from the last year, it’s that candidate and recruiter experiences need to be the top priority in any organization that hopes to retain top talent. During a time of high employee turnover and tight competition for qualified workers, 65% of recruiters are experiencing even more stress than last year.

“We’re seeing roles open at a faster rate than probably any time in history.” – Jones

Talent acquisition (TA) leaders are increasing support for recruiters with additional budgets for automated tools to lighten the load of daily tasks. Improved recruiter experience will lead to a better candidate experience – and that will attract qualified candidates to your career sites. Recruiters are finding that prioritizing things like an easy application process, candidate communication, and job descriptions can lead to better quality-of-hire and time-to-fill.

4. Agility helps TA teams meet goals

An agile recruiting strategy has helped teams adapt to the changing market by prioritizing flexibility and technology to fill in the gaps – especially on teams that are short-handed. Two of the newest challenges for recruiters from this year’s report focused on communication during the hiring process. Misalignment between recruiters, hiring managers, and/or interview panelists (23%) and communications with candidates throughout the hiring process (28%) emerged in the last year as concerns for recruiters.

TA teams are finding success by proactively managing these challenges by implementing an agile recruiting strategy. Agility helps TA teams to evaluate the recruiting process at its different steps to spot ways it can improve communication and efficiency.

3. Recruiting budgets have increased to hire better candidates

A shortage of qualified candidates AND recruiters has led to companies stepping up their budgets to help recruiters easily find the right talent. We love to hear it! A whopping 64% of recruiters expect their budgets to increase in the next 6-12 months.

Additional budget for recruiting means that priorities have also shifted for TA teams. Recruiters reported that they’re focusing on these priorities in the coming year.

• Improving quality-of-hire (48%)
• Improving time-to-hire (28%)
• Growing talent pipeline (25%)
• Updating recruiting technology (21%)
• Improving diversity (18%)

2. Quality of hire is the top metric for success

Although the number of recruiters stating that they were prioritizing quality-of-hire as a key metric has decreased since last year (38% in 2021, down from 48% in 2020), it remains a top metric for TA teams. High turnover in the job market has made it more important to have a strong employer brand in order to find quality candidates that see a future in your company. These channels are the favorites of recruiters for growing employer brands:

• Social networks (63%)
• Career sites (48%)
• In-person or virtual recruiting events (30%)

Yet, even during high-stress times, recruiters need to keep an eye on quality-of-hire.

“Never settle. Always make sure you’re assessing (candidates) properly and you’re holding hiring managers accountable to what they said they wanted and needed for their teams.” – Ray

1. Communicate frequently with hiring managers for more agile recruiting

Communication and agility go hand in hand when it comes to recruiting. One of the most important decision-makers in the recruiting process is the hiring manager, but often this is where communication breaks down. Recruiters are finding that agility is helping their teams to overcome hurdles with a requisition by improving communication with hiring managers.

“Meet with hiring managers about each job requisition in detail helps to find the right talent as quickly as possible.” – Fisher

Discuss with them things like required skills, areas of compromise, preferred experience, and even flexibility for salary negotiations. All these details can hold up the recruiting process and cause companies to lose top talent to better-organized competitors. But communication should be prioritized with all hiring managers, not just ones that have open requisitions.

Final thoughts

Thanks to everyone that joined us for this session! See upcoming events and webinars on our schedule here. Download the 2021 Recruiter Nation Report and stay up to date on the latest in HR tech by subscribing to our blog and resource library.

The post Agility: The Essential Ingredient for Recruiting Success Webinar – Takeways first appeared on Jobvite.

This just in! Jobvite’s 12th annual Job Seeker Nation Report has been released, uncovering a profound change in concerns, challenges, and priorities for workers while navigating the job seeking process amidst COVID-19.

At 6.2%, the U.S. unemployment rate today is lower than it was in April 2020 at the beginning of the pandemic; however, it remains well above its pre-pandemic level of 3.5% in February 2020.

The pandemic has greatly altered the dynamics of the U.S. labor market, bringing about what we believe to be the rise of the optimized workforce. COVID-19’s significant impact on the workforce has made it evident that employers and recruiters must have a complete understanding of how to adjust efforts to meet the demands of varied realities—for individual work experiences of today and tomorrow.

To little surprise, the job market shift has led stress levels, job insecurity, and financial concerns to skyrocket, especially among working parents. In contrast, purposeful awareness of social and racial justice issues has drastically altered job seekers’ expectations of employers, particularly when it comes to COVID-19 safety measures, diversity initiatives, company culture, and remote work.

The 2021 Job Seeker Nation Report offers an in-depth look at the behaviors, views, and preferences of the modern workforce.

About the Job Seeker Nation Report

Year after year, Jobvite surveys hundreds of U.S. workers for its annual Job Seeker Nation Report to better understand the realities and preferences of today’s job seekers. In 2020, Jobvite conducted two surveys. The first was pre-pandemic (February) and the second was in the beginning days of the health crisis (April), with the data revealing a dramatic shift in the job climate.

As a follow up, the 2021 Jobvite Job Seeker Nation Report surveyed roughly 1,500 adults in the U.S. to gain awareness of the current state of the workforce roughly one year since the onset of the pandemic.

Here are a few of the big highlights from this year’s report!

State of Job Seekers Today

The challenges of the past year have resulted in a growing fear of job loss.

• 41% report that they, or someone in their immediate family, is afraid of losing a job – a 13% increase compared to 2020

In addition to concerns over job loss, the leading stressors in the job seeking process include:

• Catching COVID-19: 40%
• Mental health struggles: 38%
• Long work hours: 34%

With an increasing number of remote interviews, 36% of job seekers, unfortunately, could not participate in a video interview due to a lack of adequate access to technology or Wi-Fi.

Remote Work

With millions of U.S. job seekers moving to working remotely over the past year, continuing to have a choice of work environment and location is now of utmost importance to job seekers.

• 35% have declined or would decline a job offer that required them to work full-time on location, in an office, or at a worksite
• 74% said remote work figures in their decision to reject or accept a job offer

Yet even with an increase in remote work, company culture remains important.

• Despite the rise in remote work, 86% say company culture is somewhat important or very important to them, up from 37% in 2019. Yes, as workers, we are still social beings and want to feel connected and part of a great company and team

COVID-19 in the Workplace

The pandemic has drastically altered the expectations employees have of their employers.

• 60% have inquired about current or prospective employer’s COVID-19 safety measures
• 49% think employers should require employees to get the vaccine, while 36% disagree, causing a challenge for employers as they navigate varying opinions on the topic and manage employee relations appropriately

COVID-19 and the rise in remote work has resulted in 42% of employees working more hours since the onset of the pandemic.

Additionally, 25% of workers have taken advantage of their employer’s mental health benefits more since COVID-19 hit. We are so happy to see workers prioritizing their mental health, taking care of themselves, and reaching out when they need help.

Download the Full Report for More

These are just a few of the key takeaways from the 2021 Job Seeker Nation Report. Download the report today for hundreds of additional statistics and insights to help talent professionals understand how adjusting efforts to meet the demands of the job market today will progress into the future.

DOWNLOAD THE REPORT

The post 2021 Job Seeker Nation: Key Findings from This Year’s Report first appeared on Jobvite.