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Strategic Planning and Management Insights

Planning & Evaluating your Recruitment Strategy

[fa icon="calendar"] August 11 / by Kelly Barcelos

Amidst the struggle caused by the new virus-initiated turbulence, organizations are
compelled to rethink the role of Chief Human Resource Officers (CHROs) and their cruciality at the strategic planning table, especially when it comes to responding to the global COVID-19 pandemic. 

COVID-19 is certainly creating a paradigm shift towards a human-centered, systems-minded approach that can adapt to the demands of a remote, virtual workplace culture. In such times, CHROs are on
the front line and must assume the onus of achieving long-lasting workforce resilience.

 

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The question is, how do we plan and evaluate the human resources recruitment strategy in
these uncertain times? The road map can get complex, but every organization needs to look
at three critical aspects for making 2020 successful:

  • setting the right metrics
  • creating actionable goals and tracking efforts
  • re-engineering strategies with the constantly evolving market scenario

 

How to set Recruitment Metrics

Setting the right measurement parameters and key performance indicators (KPIs) are fundamental to creating actionable recruitment goals which will define your company’s growth. There are several recruitment metrics, some of which include:

  • Cost per Hire

Cost per Hire is the total cost involved in talent acquisition, from sourcing to onboarding.
Measuring this metric helps an organization evaluate the efficacy of their recruitment
process, and take initiatives to further streamline the recruitment funnel.
  • Quality of Hire (QoH)

Quality of Hire evaluates the quality of your new talent and their value addition to the
company’s growth in the long term. This is slightly difficult to determine, but goes a long
way in uplifting the organization’s retention rates and optimizing hiring resources.
  • Time to Hire

Time is a valuable resource. This parameter helps determine how much time it takes
to fill a position from the moment it becomes vacant, and is very useful to help
an organization identify and focus on its most effective recruitment strategies.

 

Setting Recruitment Goals

In any business or process, the most successful goals are the ones which are SMART –
Specific, Measurable, Achievable, Realistic and Time-bound. To plan an effective
recruitment strategy, set SMART goals that help you with a clear vision and actionable
road map.

 

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S – Specific: Clearly define your hiring objective from a strategic perspective
M – Measurable: Have KPIs in place to quantify your goals
A – Achievable: Ensure that you have the resources and skills needed to accomplish the goals
R – Realistic: Check if your goal is significant and worth the time and effort
T – Time-bound: Set your goals with a target date in mind

Prioritizing HR goals - keeping in mind the company’s broader strategy, is critical to ensure
that the organization’s targets are not missed because of ‘people-issues’. Regularly
evaluating your goals on a monthly or quarterly basis will help you track performance, and
allow you to adapt your strategies to newer and more competitive challenges in changing
market scenarios.

 

Achieving Recruitment Goals

Successfully achieving recruitment goals is as critical for HR professionals as setting the right
metrics and goals. Let’s look at some recruitment strategies which will help you make
significant improvements to the recruitment process and thereby attract the best talent
resource for your organization.
  • Employer Branding:

Culture is slowly becoming one of the most important aspects for attracting the right talent and
driving the company’s strategic growth. Workers have a much wider choice given the
serious shortage of talented workers in the workforce. 70% of professionals in the U.S. today would not work at a leading company if it meant they had to tolerate a bad workplace culture.

While competitive wages certainly matter, your culture will be your greatest strength for retaining
the best employees and attracting new talent which thrives in that culture. And thus,
employer branding is an integral aspect of presenting your cultural values to prospective
employees.

Three quarters of hiring staff say it’s easier to attract top talent when the candidate knows about your organization.

The message is clear: a strong, value-based work culture, coupled with serious investment in
employer branding, is a powerful business tool in 2020.

  • Enhancing your Career Page

As we transcend towards completely digitizing our lives (a phenomena further catalyzed by
the COVID-19 pandemic), it is more crucial than ever before for companies to have
informative and appealing career pages. 59% of candidates visit the company website after
discovering a job.
If you do not have the development resources to build a career page with strong UI/UX, you
can ensure that the content is clearly descriptive of the organization and the role, and that the
application process is seamless. A well updated career page significantly helps reduce the
initial screening time, and a smooth application process prevents any dropouts of talented
employees at the initial stage.
  • Improving the Quality of Job Descriptions

Successful recruitment cycles are the ones which begin with the hiring managers coming up
with a detailed candidate persona, and recruitment managers vetting the candidates
carefully to match this persona. Broad, wordy or ambiguous job descriptions result in
increasing the time to hire because of attracting a mixed talent pool and a longer vetting
process.
High quality job descriptions attract high quality applicants who are well versed with what is
expected of them. Furthermore, it will give you a chance to evaluate the candidates on
more important values like work ethic and cultural fit, thus improving your Quality of Hire
(QoH).
  • Optimizing the Recruitment Process

Companies lose as many as 89% of potential candidates due to a prolonged screening
process. In order to avoid this and expedite the process, you can invest in a feature-rich
applicant tracking system. Your productivity must be your priority. Ensure that you
spend more time interviewing worthy candidates rather than screening and filtering
applications.
Furthermore, a smooth, automated recruitment process also ensures that you get more
time in positive communication. Job applicants who do not receive an offer are 80% more
likely to apply again if they had a positive candidate experience. This is a sincere investment
in employer branding, and building a rich talent community.
  • Building a Talent Community

A successful recruitment cycle is one in which you have a successful current hire and a rich
pool of future hires ready to tap into whenever an opportunity opens up. While you may
not extend an offer to every good candidate for today’s position, you can build a community
of previously vetted candidatures which can be directly leveraged at a later stage.

Recruitment marketing efforts will further keep this community engaged.

Attending or hosting recruitment events also greatly improves the talent community that
you have. These events help you connect with genuine talent who can evaluate your
organization upfront and thus increase your ROI on employer branding. A healthy talent
pipeline is directly proportional to reduced time-to-hire and a great quality of hire. Not to
mention, it gives you a significant edge over your competitors at any given point of time.

 

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Recruitment strategy and planning has gained prime importance today. For an effective
recruitment strategy, it is essential that you start with SMART goals, while always keeping space for
evaluating the goals and being flexible with the need of the hour. Pivot your
organization by leveraging on strategies which work, improving performance on failed
strategies and formulating new strategies to adapt to changing times.

May you have a successful 2020 during these challenging times!

Topics: Human Resources- HR

Kelly Barcelos

Written by Kelly Barcelos

Kelly Barcelos is a content marketing manager for Jobsoid and specializes in HR. When Kelly is not building marketing campaigns, she is busy creating content to help people hire better. As a working mom of three, she knows the importance of time management and counts on her multitasking ability to get her through her to-do lists.

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