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The Art of Recruiting in the New Millennium
The New Millennium ushered in the ultimate seller's market, forcing employers to find new and creative methods to attract top employees. How will the employer community go about meeting this challenge?
The key word in the New Millennium is CHANGE. According to the famous Chinese proverb, "change" represents opportunity, on the one hand, or crisis, on the other. Is your business ready to compete in this new world?
The Society for Human Resource Management (SHRM), has released its 1999 SHRM/CCH Recruiting Practices Survey, reflecting the opinions of 279 participants from 19 industries. Recognizing intense competition for quality applicants, seventy (70) percent of those responding highlighted the need to add new recruiting resources in order to meet the challenges ahead. Sixty-five (65) percent expected to integrate the Internet into their recruiting strategy as the information revolution continues to explode; recording more than 1.2 million online job postings in 1997 alone.
Do employers work harder to attract new employees because candidates today are much more qualified? According to Survey results, the answer is no. In fact, HR professionals views candidates as more under-qualified than just two years ago. However, these candidates expect higher salaries and benefit packages. According to HR respondents, eighty-six (86) percent ranked compensation issues as key, followed by work/life balance (53 percent) and job growth (50 percent).
While employers integrate new technology with more traditional tools, they continue to utilize customized incentive programs for effective recruiting. In fact, more than half of the respondents (fifty-four percent) say that the will add new incentives in order to attract qualified employees. The most favored incentive, across all hiring lines, continues to be the 401(k) employer matching contribution. The Survey also identified other incentive favorites for the following employment categories:
In this tight market recruiting professionals should take heart, declares HR expert, John Sullivan. "This is the golden age of recruiting", Sullivan proclaimed last May at an Employment Management Association Conference. Since the best people aren't looking for jobs, recruiters need to come prepared with new and bolder incentives. However, he warns HR professionals to only hire the best since the cost of a bad hire is $300,000 per year!
Sullivan maintains that in the near future, "all recruiting will be web-based". Employees will have more opportunities to work at home since "(i)t's what you do, not where you work".
To Sullivan, recruiters should welcome in this brave new world. He urges us to "(c)ome on and join the gold rush". (September, 2000 - Susan S. Mccomb).
Resources on Recruiting & Hiring
Career Builder: White Paper: 10 Steps toward Hiring Success What are the 10 most fundamental issues involved in finding the right candidate for the job? Recruiters Network: White Paper on Sign-up Bonuses Many IT managers are offering bonuses to convince a key job candidate to sign on. But who should you really pay these up-front rewards to, and how much? Recruiters Network: Combatting the Counter Offer Technical recruiters often find themselves used as pawns by job candidates seeking counteroffers. There are ways to detect, and deflect, this practice.
Recruiting Online
Internet Resource Sites for Recruiters
Electronic Recruiters Exchange Recruiters Network: Association for Internet Recruiting Assistance for HR professionals recruiting in the online world.
About Internet Recruiting
Recruiters Network (Weddle): Writing Internet Job Ads for the Ages Expertly crafted on-line job ads can work magic with even the most passive of job seekers, while poorly written ads will not move even the most determined employment candidate. What spells the difference? Recruiters Network: Weiss: Writing an Effective Internet Job Posting Recruiters Network: Why Recruit Online? On-line recruiting comes at an opportune time (unemployment is the lowest it has been in over 29 years and relief is not soon expected) when new sourcing methods are desperately needed. Failure to have a clear recruiting plan results in poor Internet recruiting results. To effectively use the Internet as a recruiting tool involves more than haphazardly posting your opening to job posting sites. Career Builder (2000): Internet gives Small Companies Big Recruiting Muscle Career Builder: Relocation Tools: Salary Calculator
Commentaries
Career Builders: Employers are from Mars; Job Seekers are from Venus Employers and job seekers don’t always agree on the essential elements of effective job advertisements or on career features that make job opportunities most attractive. CyberAtlas (2/17/2000): Online Job Offerings Not Making Grade By 2005, online recruitment advertising will total $4 billion, human resources applications will generate $1 billion, online assessment and training will net $2 billion, and 55 percent of all revenues will go to career networks. Employees should expect to see modest salary increases in 2001, with the potential for significant gain through performance-related bonuses. Forbes Magazine (5/17/1999): Wired hires
Building a Diverse Workforce
Electronic Recruiters Exchange: Diversity Issues SHRM HR Magazine (8/98): Diversity: Building a Rainbow One Stripe at a Time
Recruiting Software
Electronic Recruiters Exchange: Hagen (2000): Applicant Tracking Systems: Friend or Foe? |
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