In the last few years, a handful of studies have shed light on the way recruiters hire and think about candidates. Below are three that may inspire you to rethink your talent acquisition strategy.
1) MRI Network Recruiter Sentiment Study: This 2014 survey examines recruiters’ confidence in the economy, their hiring activity and job acceptance rates. According to the report, recruiters are confident in the U.S. economy and are stepping up the pace in how they source and interview. However, talent acquisition leaders are struggling to attract top performers due to:
- A perceived shortage of skills across markets and
- A rising trend of top performers receiving multiple offers
The hiring pace is only expected to increase, creating an even more uncertain environment for recruiters who are struggling to compete in a career marketplace that is largely talent-driven. The report concludes that:
- Employer branding is more important than ever — a company with a disjointed talent brand will turn off candidates.
- Salary and benefits need to be aggressive since top performers have a range of available options.
- Employers can increase their chances of securing top hires by speeding up the hiring process.
2) LinkedIn Talent Trends 2014: Last year, LinkedIn released a survey of 18,000 professionals across 26 countries, asking questions ranging from how satisfied were they with their work to what would attract them to a new job. The result they were most eager to get was what percentage of the workforce is open to discussing a new career opportunity. An overwhelming 85 percent responded positively.
The trick is that 85 percent of these professionals have varying levels of interest. While some are actively looking for a new job, other passive candidates are just relying on networking, and a good portion is not actively looking, but is open to being approached. This means that you can’t rely on candidates to find you – you have to engage them through effective talent branding first.
3) Google: Part of the Google DNA is to make decisions based on data, so their HR team decided to see if screening people based on school grades and logic puzzles produced better hires. In 2013, Google’s senior VP of people operations, Laszlo Bock, shared the results of this internal report. It revealed that test scores and GPA’s have almost no correlation to long-term on-the-job success for experienced hires. These findings dramatically transformed Google’s hiring strategy in at least two ways:
- They no longer ask for GPA’s and test scores from candidates who are more than a few years out of school and
- Hiring teams now focus on behavioral interviews rather than brain teasers.