According to a series of articles from the Society for Human Resource Management (SHRM), job openings have broken 5 million, voluntary quits are at an eight year high, and time to fill has increased by ten days over the past decade. The job market has definitely shifted to a candidates’ market. Organizations need to develop focused strategies to break through the tightening market.
During Ultimate Software’s 2016 Connections Conference, Ryan Bergstrom, senior director of products, and Eric Edwards, product manager of talent acquisition solutions, shared three trends they’ve been noticing that recruiting teams need to watch.
#1 – The Mobile Job Seeker
In today’s business world, mobile means modern and it’s modern employment brands that attract candidates. Fifty percent (50%) of job seeker expect to search and apply for jobs via a mobile optimized website. This is different than being a mobile friendly website, which means the website is displayed on mobile devices the exact same way it is on a PC. The term mobile optimized means that the site is responsive and changes to the technology it’s being viewed on. Mobile optimized sites provide the complete mobile experience candidates are looking for.
In addition, candidates want the ability to search for job openings and complete a simple application on their mobile devices. Job seekers want to spend minutes applying for jobs (versus hours.) And, they prefer to use the professional sites they’ve spent time already cultivating – like LinkedIn (more on that later.)
#2 – Job Marketing Aggregation
Technology solutions recognize that human resources professionals have very little spare time. To be valuable, solutions need to be cost-effective and scalable. Aggregators are designed to do both: save time and cast a wide net by simplifying the employment advertising process. There are two different types of aggregators to consider:
Job listing aggregators such as Indeed and Simply Hired simplify a job seeker’s access to employers and opportunities. Making it easier for a candidate to find your company’s job opening.
Job post distribution aggregators such as eQuest and Broadbean simplify the company’s efforts to advertise through your most effective channels. The company goes to one place to distribute their message (versus multiple sites.)
#3 – The Popularity of LinkedIn
Organizations can increase their candidate conversion rates when they use a combination of social media and mobile optimization. LinkedIn continues to rise in popularity. It operates the world’s largest professional network with more than 400 million members in over 200 countries and territories.
A recent study titled “The Ultimate List of Hiring Statistics” indicated that LinkedIn is the #1 source of quality hires. The same report indicated that new hires sourced through LinkedIn are 40 percent less likely to leave the company within the first six months.
This directly aligns with what recruiting teams are trying to accomplish: hire the best talent, within the fastest time frame, using the fewest resources possible.
One other comment that Ryan and Eric made during their session was that recruiting teams need to get comfortable accepting social profiles rather than resumes. I’m not sure it’s as much a trend but an outcome of using these three trends to attract the best candidates. Organizations that want talent will need to change their recruiting experience to include social, mobile and job distribution sites. It means making the process easier for candidates. Long resumes and lengthy applications aren’t easy.
Have you notice a change in the job market? What trends are you noticing to attract the best talent?