In a recent Paycor survey of nearly 6,000 professionals, more than half said they believe the talent shortage is a long-term or permanent feature of the economy. Now that recruiting is more competitive than ever before, potential hires have the power to reject workplace norms; even when it comes to the recruitment process. To find and attract top talent, employers are experimenting with new recruiting methods and developing a proactive approach to hiring.
Here’s a breakdown of 6 popular recruitment trends HR teams can use in the coming year.
1. Use Artificial Intelligence Instead of Keywords
Keyword (or Boolean) search is a method of trial and error in which recruiters enter keywords and manually sift through listings, wasting time and increasing the likelihood of missing many qualified candidates. Keyword search can also be discriminatory because it only shows people with the “right” keywords on their profiles. And research shows that diverse candidates tend to write less in their resumes and LinkedIn profiles.
Recruiters can reduce time-to-hire by using artificial intelligence (AI) to source not only those candidates who are actively looking to change jobs but also passive candidates who may not be in the market, as well as diverse candidates who may be ideal for the role but overlooked by traditional systems.
2. Improve Retention Efforts
Retention of existing employees is also a form of recruitment and a fantastic way to reduce employee turnover. If an employee is high-risk for jumping ship, consider finding them a new challenge within your organization. When you match internal candidates with positions that fit their passions and skill sets, you may just get employees to stay for the long haul.
Traditionally, this internal movement can be a valuable opportunity for employees to develop added skills, boost their visibility, and expand their network. It’s a great opportunity for recruiters too! For starters, it reduces cost and the time-to-hire KPI. When you leverage existing employees, there’s no need to get them up to speed with the industry or company culture.
3. Focus on Salary Transparency
Employees discussing their salaries with co-workers used to be off limits, and companies’ pay bands were often a closely guarded secret, but all of that is changing with the advent of new laws. Colorado’s Equal Pay for Equal Work Act (EPEWA) went into effect in 2021. New York City and the state of California followed suit in 2022, and Washington state’s salary transparency law went into effect January 1, 2023. These laws require companies to be more open about their pay range data in job listings.
Pay data transparency is directly linked to closing the male-female wage gap. While pay discrimination has been illegal since 1964, even today many white women still only earn 80¢ to their male counterparts’ $1. A PayScale study found companies that willingly practice pay transparency closed the male-female wage gap with women earning $1.00 to $1.01 for every $1.00 a man earned.
Being open about salaries paid is counter to many recruiting tips that focus on the art of negotiation, but it’s important to pay attention to the laws of the states you’re hiring in.
4. Rev Up Your Candidate Pipeline
Proactively search for unconventional candidates such as former military members, people with minor criminal convictions, and passive candidates who might not actively be hunting for a job.
You can also search your pipeline for candidates you’ve previously interviewed who weren’t the right fit for other positions, employee referrals, former interns/co-op students and more.
A well-structured pipeline can:
- Create a better candidate experience
- Shorten the time-to-fill open positions
- Increase confidence in hiring decisions
Having a pipeline ensures you always have access to a network of top talent, making the recruiting process easier and faster while achieving better results.
Use Social Recruiting
Using social media to find, attract, and hire talent is more popular than ever. According to Glassdoor, 79% of job applicants use social media during their job search. As a pillar of recruitment marketing, this method enables organizations to not only extend their reach, but also get in front of their ideal candidates.
What are the benefits of social recruiting?
- Reach passive candidates
- Get more referrals
- Promote your company culture
- Establish personal connections with candidates
Finding talent through social media is extremely cost-effective, making it a top recruiting trend for many HR professionals.
Boomerang Hires
Believe it or not, your best hires can be former employees. They know the business, they understand expectations, and they can hit the ground running. Boomerang employees accounted for 4.5% of all new hires among companies on LinkedIn in 2021, up from 3.9% over the same period in 2019. So, why should you consider this trend?
Because with boomerang hires:
- There are no surprises
- You can reduce cost and time-to-hire
- And you can potentially get competitive intelligence
Looking for more thought leadership?
Check out Paycor’s On Demand HR Webinars page. These complimentary webinars are hosted by HR and finance experts to guide you through current trends and best practices focused on how to manage your business better.