Published: May 15, 2023Time to read: 6mins Category: Recruitment
3 Top Recruiting Trends to Elevate Your Hiring Strategy From the 2023 SHRM Talent Conference
If you work in talent acquisition, you’ve probably heard of the SHRM Talent Conference. This annual event is hosted by one of the world’s leading human resource organizations and provides a platform for HR professionals to share their expertise and exchange ideas. Attendees also get the chance to see firsthand the latest tools and technologies HR professionals can use to optimize their talent strategies and improve the candidate experience.
This year’s conference covered a range of topics that are shaping the future of recruitment and retention, including the use of artificial intelligence (AI) in recruiting, the importance of employer branding, and how to optimize your internal talent pools.
In this blog post, we examine these top recruitment trends, what they mean for hiring teams, and how an intuitive applicant tracking solution makes it easier for organizations to stay competitive in the race for top talent.
Trend #1: Embrace Machine Learning, AI, and Analytics
If your talent strategy doesn’t include recruiting analytics or similar technologies to inform your decision-making, you’re already behind the competition. As the talent marketplace becomes more volatile, recruiters and talent acquisition leaders are recognizing the immense value of time-saving tools like artificial intelligence and machine learning to make data-driven decisions and improve hiring processes.
Timely, accurate candidate data is essential for businesses to acquire and retain the highest-quality applicants. A potential economic downturn coupled with jobseekers’ evolving attitudes toward work means candidates aren’t willing to spend months on what they might consider an arduous interview process. Hiring teams must incorporate tools that allow for a swift and efficient interview process so as not to lose out on top candidates.
Technologies like machine learning, AI, and recruiting analytics let recruiters and hiring teams quickly access vast amounts of data and reports so teams spend less time compiling data and more time finding the right fit for their organization. Recruiting analytics tools incorporated directly into your ATS can also help recruiters identify trends in their hiring data, such as which sources are producing the best candidates and which areas of the hiring process need improvement.
AI, machine learning, and recruiting analytics are fantastic tools to assist recruiters and talent acquisition leaders in making informed decisions. When properly integrated into recruiting software, AI and machine learning algorithms help recruiters sift through resumes, match candidates to open positions, and even predict which candidates are likely to be successful in a role.
That said, it’s imperative to remember that these technologies are tools meant to aid recruiters and hiring managers. They don’t—or shouldn’t—replace human judgment. While these technologies can provide insights into your applicants, ultimately AI and machine learning cannot tell you who’s the best fit for your organization. Use AI, machine learning, and analytics to inform your hiring decisions, but weigh the candidate insights you receive against your personal judgment and that of your hiring teams.
LEARN MORE ABOUT DATA-INFORMED HIRING | ‘How Data Insights Lead to More Efficient Recruiting Processes’
Trend #2: Renew Your Focus on Employer Branding
Many companies mistakenly believe that having a fantastic consumer brand means their employer brand is just as strong, but that’s simply not the case. While your organization might be easily recognizable to consumers, that kind of branding doesn’t give jobseekers any unique insights into your company’s values or culture. Potential employees want to understand what it would be like to work for your company and whether your mission aligns with their desires. The easiest way to demonstrate what you have to offer is through strong employer branding.
Employer branding is the story of why people want to work for your organization. Since nearly one-third of job seekers want more information about a company’s culture before applying for an open position, it’s important to keep your employer brand top-of-mind.
Candidates are paying attention to companies’ reputations, and hiring teams are responding by treating talent acquisition like an ad campaign. As with marketing to consumers, hiring teams are identifying their audiences and are tailoring their messaging to various talent pools. Companies looking to improve their employer branding should invest in configurable recruitment solutions, such as software with custom career portals and templates. These can be used to share your organization’s values while still appealing to different candidate groups.
Trend #3: Maximize Your Strategy With Untapped Talent
Every industry is feeling the strain of a tight labor market, and things aren’t likely to change any time soon. In response to these worker shortages, organizations are turning to internal talent pools that have previously been underutilized.
Internal candidate pools should play a major role in your overall talent strategy, especially when you consider what it takes to fill an open role with an external candidate. Employees with a year of service are 87% more likely to stay with your organization when there’s an opportunity for internal mobility compared to those who can’t earn promotions or make lateral moves within their company. The last thing you want in a tight labor market is to lose the talent you already have, so it’s crucial to offer your employees pathways to advance in their careers. Cultivating homegrown talent can also go a long way in bolstering your company’s reputation and contributing to positive employer branding.
In addition to internal talent pools, companies can also tap into non-traditional candidate pools, such as former employees, individuals with career gaps, military service members, and career transitioners. When sourcing applicants and reviewing resumes, think in terms of what job tasks and processes can be taught versus the skills required to perform well in the role. Often job seekers with non-traditional backgrounds bring a plethora of transferable skills and knowledge to a position. It’s highly likely that they have the skills you’re seeking and can be taught the rest on the job.
Hiring teams that are ahead of this trend are leveraging intuitive recruiting software to identify untapped talent. Recruiting software can source your best internal candidates who qualify for open positions based on employee skills data you already have. Recruiting software can also sort external applicants according to relevant skills, so you won’t miss out on non-traditional candidates who might be the perfect fit.
MORE ON TALENT ACQUISITION | ‘5 Can’t-Miss Recruiting Trends for 2023’
Choose an ATS That Supports the Latest Recruiting Trends
A successful talent strategy requires an applicant tracking system capable of supporting multiple initiatives. To stay ahead of the trends, you need a solution that incorporates data analytics and other cutting-edge technologies so you can make informed and efficient hiring decisions. Not only that, but you need the ability to configure your career portals so they appeal to your target candidates while supporting your employer branding efforts. Although it can feel daunting, the right ATS can easily allow you to leverage new technologies, respond to applicants’ needs, and keep pace with a volatile labor market.
Discover Our Intuitive Recruiting Solution
PeopleFluent Recruiting gives you everything you need to attract external candidates, identify your top internal performers, and tap into non-traditional talent pools. To learn more, schedule a free demo or download the product sheet today.