The war for the right talent is vigorous and costly. Studies show that companies have spent over a third of their talent acquisition budgets on third party agencies, but with a result of only 8% positions being filled. The cost of talent acquisition has increased to around $124 billion with a calculated average of $3,500 per new hire. So, how can you make every penny you spend worth it and attract the right talent?
Recruiting is like marketing. The only difference is that you are attracting potential employees instead of customers. Here are the two reasons why recruiting has changed and why recruiters need to adopt marketing tactics to help improve employee recruitment results.
- Technology has made it easier for potential candidates to access information that they weren’t able to before. It has provided a new platform to connect and build relationships with job candidates before, during, and after the hiring process.
- The new (millennial) generation of employees has a different mindset about work. To the millennials, work needs to be meaningful and challenging. Millennials thrive best in a work environment that is supportive, flexible, and team and feedback oriented. So you need to show them what your company is all about!
4 Marketing Tactics to Include in Your Recruiting Strategy
1. Attract the RIGHT Candidates with Creative Brand Marketing
According to a CareerBuilder survey, a bad hire can cost the company more than $50,000. Therefore, more companies (ex. Zappos) are investing time and resources in hiring the “right fit” for both their company culture and values.
What you should do: Amp up the company culture and core values section of the careers site to help candidates better understand who you are looking for and how they fit into your company. Make that section of the career site easy to access and navigate. The key is to market your company to the right candidates. You do so by showing them:
- Who you are?
- What you do? – The purpose of the company.
- Who you are looking for?
- Why people should work for your company?
I find videos to be a very effective way to showcase the different aspects of a company while answering the questions above. Here are some examples of recruiting videos that will help you get started: Shopify, TEDS INC, Facebook.
2. Use Social Media to Connect with Candidates
Marketers use social media to connect with customers. You too can use Twitter, Facebook, Google+, etc. to establish relationships with job candidates. Research shows that in the U.S. 67% of adults between ages 18 to 29 and 77% between ages 30 to 49 are actively engaged on a social networking site.
What you should do: Start sharing on social networking sites that your potential employees hangout on. Social media is a great platform to use to humanize your company brand. Feel free to share pictures of company picnics, activities, volunteer projects, etc. to show off your workplace culture and company values. The key to sharing on social media is to be helpful and informative, NOT SALES-ORIENTED. Here is a list of contents that you can share:
- Job opportunities
- Videos that tells the story of your company
- Employee testimonials/success stories
- Interview tips
- Third party contents that are helpful to a candidate’s job search process or give them a little more info regarding this particular career field.
3. Build a Talent Pool
A study conducted by Bersin found that “recruiters are overloaded with resumes, but companies struggle to find quality candidates.” Inbound marketers use forms, calls-to-action, and landing pages to generate and build a pool of qualifying leads, which are potential customers that the company will eventually convert into clients. This way, there is never a shortage for customers. Recruiters can use this inbound marketing approach to build a talent pool to support current and future talent needs.
What you should do: Continuously recruit for positions that the company is always in high demand for and keep track of the qualifying candidates who apply. That way when you need to fill the position in the future, you already have a list of qualifying talents.
4. Nurture Current and Potential Talent
Once a lead becomes a customer, the inbound marketers’ job is to nurture the customer by providing contents that keeps them engaged. The company’s job as a whole is to continuously provide amazing customer service/product for the customer. A recruiter must do the same for the current and potential employees. Without continuous nurturing, employees can become disengaged overtime resulting in less productivity and bad performance.
What you should do: For potential candidates, you can engage them using social media. You can also send monthly emails containing recent job listings, employee success stories, company events, etc. For current employees, make sure they are appropriately trained for their jobs and continue to receive training throughout their employment. Engage employees with regular activities that allow them to socialize and collaborate with people outside of their department. For Example, Shopify hosts “Hack Days” every three months that allows employees to work on any project of their choosing. At the end of the 48 hours the employees present whatever project they’ve taken on to the rest of the company. By encouraging employees to let their creativity fly, and work outside their normal groups, Shopify benefits twofold—once by giving their employees the freedom to pursue what interests them, and again by the innovation that this action spurs.
Recruiters, you hold the most important key to a company’s success, and with these marketing tactics, you are ready to go forth and conquer the war for talent.