Learn how recruiting has changed and why recruiting efficiency for high volume recruitment is what you need right now. Contact Predikt-r to learn more!
Post a job ad online. Go on, I dare you!
It’s more important than ever before to ensure you have the best people on your team, to underpin and drive your business performance. The global economic downturn may well have increased job seeker numbers, but don’t be fooled. C-19 hasn’t ended the war on talent. The battle has shifted, and it could be argued that recruiting has become more challenging with added layers of complexity.
Whether you’re hiring or not, now is the time to commence planning to mitigate a raft of future recruitment challenges.
We’ll be releasing more articles about this new era for recruitment to help you navigate this minefield. First up we’ll address the number of job seekers in today’s market and the challenges of high-volume recruitment that come with it.
Having confidence that you’ll attract plenty of candidates when the time comes to fill a vacancy seems obvious. Unemployment in Australia is expected to reach 10% (1.4 million people) by the end of the June quarter. We worked with a client recently that received 1300 job applicants within 24 hours of posting a vacancy for a Brisbane-based warehousing role. There’ll be a good portion of vacancies that attract similar (if not higher) volumes of applications and this huge applicant pool will be brimming with hireable candidates. You’ll need more than luck to find the needle in that haystack!
1300 applications in 24 hours. How do you shortlist this volume of applications? Spin the wheel and pick a number? Blindfold and pin the tail on the donkey? Spin the bottle? Ok, maybe not!
Hiring is much more than just a party game and, when executed well, can have a profound commercial impact on your business.
Using traditional methods is an inefficient way of shortlisting applications and becomes a huge challenge for high volume recruitment. Even if you can take the time to manually review your towering pile of applications one-by-one, the odds of accurately identifying the candidates with the highest performance potential are stacked against you. And right now, the need to find the best fit candidates is greater than ever to give your business a competitive advantage.
Although you may not be ready to hire yet, rest assured, the time will come. And as unemployment continues to rise over the coming months, it is probable that you will receive an avalanche of job applications when it does come time to fill your next vacancy.
Planning to manage and shortlist volume applications is a challenge you should start preparing for.
In my above mentioned example, our client used predictive analytics technology to shortlist candidates automatically and scientifically. This improved recruitment efficiency and minimised the in-house recruitment process to a teeny tiny 12 days end-to-end (that’s contracts signed, induction complete, and plenty of time for candidate care). Compare that to the average 42 days to fill a vacancy and I need not say any more. Just one thing though… and I might be stating the obvious, but manually reviewing 1300 applications will surpass 12 days just from resume screening, without yet having picked up the phone to have a conversation with a single candidate.
Predictive analytics technologies are designed to improve recruitment efficiency and will be a godsend for those dealing with high volume recruitment and its challenges. HR must create smarter ways of working for its people and be at the fore regarding the transition back to better business through avenues such as automation and technological innovation in what is set to be a ‘digital recovery’.
Get ready and be prepared. Volume is coming like a freight train restocking toilet paper… or something like that.
Head of Clients & Partner
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