Research has shown that candidates are driving the hiring process, so the responsibility is on the companies to make it a positive experience.
Studies indicate a positive recruitment experience motivates 97% of candidates to refer other candidates with over 50% of them likely to share their positive experiences with people they may know through social media.
In addition to this Deloitte reports that 87% of candidates say that a great recruitment experience can change their mind about a company that they once had doubts about.
Similarly, 83% of professionals that took part in the survey said that a negative interview experience can change their mind about a role or company they once admired.
Artificial Intelligence (AI)
Industry experts believe that AI will act as a support system for HR Managers, and reduce hours spent on administration duties.
A recent study conducted by Modern Hire found that today 50% of firms use Artificial Intelligence to source and screen many of their candidates.
A common myth regarding the AI screening is that the AI deletes any resumes that do not meet or exceed the desired criteria. However, this is not the case for the vast majority of AI screening tools. The control remains in the hands of the recruiter.
Watch out for soft skills
It has been estimated that between now and the year 2030, demand for social and emotional skills will grow across all industries by 22% in Europe.
Personally speaking, at Red Chair Recruitment we do believe that AI and automation will mould and re-shape traditional roles with hard skills being most susceptible to automation.
According to Harvard Business Review, results-oriented, relationship-focused, process and rule followers, innovative and disruptive thinkers and pragmatic skills and emotional competencies are most advantageous for candidates to have.
Advancements made in automation could give HR teams more time to focus on retention.
Certain HR trends remain key to employee
retention, and ultimately attraction. I think, particularly this year, well-being, remote working, company culture and learning and development need to be prioritised more.
Companies now have the opportunity to build up and promote a brand that is more social and ethically responsible, along with being a fun and inclusive place to work.
The outcome of this is that companies with great employer brands receive 50% more qualified applicants and see a 50% reduction in cost-per-hire, according to Linkedin Research.
With 75% of jobseekers considering an employer’s brand before even applying, an attractive brand may be the difference between finding the perfect person for the role – or losing them to a competitor.
Clients of ours often ask us the same question, what are the best ways to promote a company brand. We recommend that businesses do this through their current employees and where their prospecting candidates are, such as social media.
According to Linkedin;s Workforce Learning Report research has shown that 93% of employees would stay at a company longer if it invested in their careers.
As previously mentioned, soft skills are becoming more necessary in the workforce and career development is now a key factor in employee retention, therefore HR departments need to look at their current workforce for potential job opportunities. This is done through HR data and analytics.