As the talent war wages on, organizations must constantly evolve their strategies for recruiting and hiring. Employee-employer relationships are becoming increasingly complex and the power is shifting largely toward the employee. Recently, employees have taken on a role more similar to consumers. Employees are no longer committing to one organization for life, but rather just looking to gain a few years of experience and then move on to their next big thing.
What is changing?
- Salary is not the number one factor. The top four things job seekers want from a company are: appreciation for your work, good relationships with colleagues, good work-life balance, and great relationships with superiors. A fixed salary comes in eighth on the list. This demonstrates that the Millennial generation places a much higher value on work culture and environment than simply their salary amounts.
- Employees want a more personalized experience. Employers can no longer afford to treat employees as just a number. They now want a more personalized work experience. Each person is motivated by different things and may excel in different environments. The ability to adapt to the diverse needs of your employees is critical to stay ahead of the game.
- It is easy to switch jobs. Recruiters are no longer just in contact with people who are actively seeking jobs. They are also consistently reaching out to people who are currently employed and keeping passive candidates engaged through the use of Talent Communities. Due to the rise of technology tools for recruiting, it is now easier than ever to contact people across the world and connect professionally with individuals through sites such as LinkedIn.
What can you do to adapt?
- Encourage employees to write Glassdoor.com reviews. A recent study by recruiting software matchmaking site, Software Advice, shows that 48% of candidates say that the Glassdoor.com reviews of the company over the past six months had the most impact on their perception of the employer brand.
- Give your HR department a crash course in marketing. Marketers are building brand perception and increasing sales at the core of their function. Bring in marketers to show your HR team how to best market your employer brand to job seekers.
- Stay competitive. Recruiters are getting better at poaching employees. This is due to a decreasing amount of people in the workforce and a more competitive talent marketplace. This means that there are less people out there with the skills needed for your organization. Be sure you are offering competitive salaries and benefits plans. More importantly, don’t forget to show recognition for a job well done.
- Utilize social media. It’s hard to keep up with the Millennial generation. The easiest and most effective way to do so is through the use of social media. Social media provides a platform where your HR department can reach vast amounts of job seekers in a short amount of time. Specifically, using LinkedIn effectively can yield your HR team a myriad of great candidates.
- Build Recruiting Specific Content. Show off your organization’s culture. Many organizations are creating recruiting videos and other content pieces to show job seekers how great it is to work for their company, and it’s working.
- Get to know each employee. Find out what motivates and engages each employee, then tailor their work environment to fit their specific needs. Involve your employees in decisions, allow for upward mobility, and engage your managers – not only are they employees too, but they also work with the people reporting to them and can provide insight on how to improve the working environment.
- Invest in a Human Capital Management System. A study by Gartner forecasts that by 2018 the global investment into Customer Resource Management systems will be $41 billion, but the amount invested into Human Capital Management systems will only be $11 billion. This discrepancy and mindset will need to change in order to hire and retain the best employees for your organization.
Remember, your employees are your biggest asset, not an expense or liability. The nature of hiring and retaining employees is constantly changing and is currently headed toward a consumer-minded employee. In order to stay ahead of the change, become an innovator and get creative. Tailor your messaging so that it speaks to job seekers on a personal level.
This DATIS Blog was written by Carley Donovan, DATIS, on September 2nd, 2015 and may not be re-posted without permission.