Paramount Software Solutions Inc

Hiring in a Social Economy – What the Best Candidates Expect.

The Age of the Millennials

78% – the percentage of CEOs who say they have needed a change in their people strategy to improve their access to talent. And for good reason, because it is a candidate’s market out there. Unemployment in the United States hit a 50-year low in December 2019, which means most of the good talent out there is already employed.

Candidates are picking jobs now – and those picking jobs are the millennials (who will comprise 75% of the workforce by 2025).

How do we engage with millennials? How do we get them on board?

We prepare for social, continuing candidate engagement.

The Social Millennial

Both Deloitte and PwC agree that to engage with millennials, social and continuing engagement are a necessity. Companies must make the effort to understand them. Here are 3 attributes to keep in mind when hiring millennials.

  • Millennials grew up enjoying recognition simply for participation (not only for excelling!) This has led to a need for constant feedback and approval.
  • They want a healthy work-life balance. They won’t remain at companies for long, unless they are engaged and entrusted with evolving work.
  • Culture is key. Organizations that are open and communicative have a distinct advantage over others.

Since recruitment, as a function, is now fully integrated with social media, high-tech and fast processes the consequences of not keeping up to speed can be more than just losing a good candidate

Eliminate old school, candidate-does-it-all employment models.

  • 60% of applicants today abandon complex online applications. So, simplify your application process.
  • 86% of job applicants are apparently using smartphones to make applications – so make sure your hiring platform is mobile friendly and interactive.
  • 6 in 10 job seekers expect companies to stay in touch with them. Millennials expect openness and communication from organizations, even at the pre-hire stage! So, keep them informed at every stage of the process.

Figure 1: Traditional Recruitment

Figure 2: Continuous Recruitment

Finally, a game plan for successfully recruiting the candidates you want

The key is to leverage both technology and specialist resources.

  • Brand your company’s culture, work environment and benefits to showcase your core values. This is as essential for recruitment as it is for customers.
  • Sourcing right, over both candidate databases as well as social forums, is important. Whether it is influencers on Twitter or an experienced candidate on a job database, the engagement models are different.
  • Use chatbots, linked sign-in to portals (such as LinkedIn and Google and automated resume processing) to reduce the effort involved in gathering candidate information.
  • Also, chatbots and automated messages are an excellent means to keep candidates engaged, while reducing the burden on your HR team.
  • If there are unanticipated delays in the recruitment process, let the candidate know immediately, even if with an automated message. Candidates who don’t hear back from a potential employer simply assume the process is closed and move on to other options.

Since recruitment, as a function, is now fully integrated with social media, high-tech and fast processes the consequences of not keeping up to speed can be more than just losing a good candidate – just ask Virgin. In 2014, a bad recruitment experience cost Virgin over $5 million in lost subscriptions!

We can help you plan your recruitment brand, source the right candidates, engage successfully with them and build an efficient, millennial-driven enterprise!

By N.R

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Hiring in a Social Economy – What the Best Candidates Expect.

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