The Future of Recruitment is Retention - Part 1

By Jessica Miller-Merrell

This is part 1 of a two part series on retention. Click here for part 2. 

The basics of supply and demand were drilled into most of our brains back in our Econ 101 days. I distinctly remember discussing the topic and thinking that it was interesting but not necessarily something I’d need to know in my future career. Well as I’ve seen over the years, I was wrong on that one because supply and demand actually plays a big role in how recruiters do their jobs and job seekers find new positions. Of course, when there is increased demand, supply often diminishes. And during times when there is an increased supply, demand often decreases. This is why retention is key to good recruiting. The economy will bring high and low tides of open positions and job seekers, but a company that can retain its employees will not feel the affects of those tides nearly as much.

Putting theory to practice

We saw this theory clearly put into practice during the 2007 recession. Companies were feeling the pain of a weak economy and were making cuts to meet their own needs, which ironically, were affected by other aspects of the rules of supply and demand. Americans were clutching their wallets a little tighter, and companies had to adjust to stay financially stable during the downturn. It was a tough time for nearly everyone. One of the most common ways companies adjusted was by discontinuing some of the perks they offered employees, including significant things like generous paid vacation, 401(k) matching and tuition reimbursement, and even less valuable perks like free soda at work, holiday parties and gym memberships. Companies were cutting corners, and they saw this as a way to do so.

Even more importantly, many companies had to cut back on their workforce when cutting down on perks just wasn’t enough. This put job seekers in a tough position and furthered our economic situation as there were thousands upon thousands of unemployed people and just as many companies with no open positions. We had an increased supply of candidates with the demand for them diminishing. Not as many jobs were being created or filled, making the demand much lower. It was a recruiter’s market, but not in a way that any of us wanted.

What this recession caused was a situation where employers were offering less and expecting more. In the job market, the demand for open positions was high and the supply was low. Companies were not only taking away perks to make ends meet but quite honestly, they didn’t need to offer a lot of perks to attract candidates. This impacted salaries, benefits, workload and so much more.

Fast forward to 2015

The recession of 2007 may not be that far behind us, but you wouldn’t know that by looking at the job market today. Companies have quickly increased their workforces, brought back perks like unlimited vacation, excellent training and some benefits that were unheard of even before the recession hit.

It’s also affected the supply and demand of positions and job seekers. In fact, it’s flipped it on its head. Job seekers now have their pick of jobs, and recruiters are working harder than ever to fill those positions. This flip also demonstrated why retention is so important in recruiting. As I mentioned above, companies that are able to retain employees will be impacted less by the high and low tides, and the way our job market is looking now is a perfect example of this. Companies who aren’t able to retain employees are in the constant race to recruit, but those that have retention on their side are able to focus on fewer open positions at any given time since they the best people work right under their roof.

Don't believe me? It's the reason in the last several weeks that companies like Facebook, Adobe, Netflix and others have announced improved and expanded parental leave policies. These tech giants are desperate to retain their current talent while also being better able to attract future talent to their companies.

This is part 1 of a two part series on retention. Click here for part 2. 

TalentCircles is the most comprehensive candidate engagement platform on the market. Take a product tour or request a live demo today. 

Jessica Miller-Merrell, SPHR is a workplace and technology anthropologist specializing in HR and recruiting. She's the Chief Blogger and Founder of Blogging4Jobs and author of The HR Technology Field Guide. You can follow her on Twitter at @jmillermerell.   

Content Drives Web Traffic. So Why Not Use It On Your Company Career Site?

By Jessica Miller-Merrell

Those in the marketing industry know that content is king. It drives traffic, makes your website sticky and increases brand recognition, loyalty and sales. With the recruiting function looking more and more like marketing everyday, it’s no wonder that what works for the marketing pros very well could work for our industry too. Content makes sense in marketing, and there’s no doubt that it can also help us drive candidates to our career site, engage them and increase the likelihood that they’ll ultimately decide to apply for a position.

Why not your career site?

Many in the talent acquisition industry know how important a career site is, but still, many are missing the mark on content. At the center of your candidate engagement efforts is your company career site, but what you may not realize is that it’s more than a place to share open positions and use employment branding. It is those things, but it can also be so much more. You have the power to make it a place where candidates want to spend time and revisit. Rather than simply sending candidates there, candidates could actually find it on their own as they scour the Internet for resources and answers to their questions. Your career site is already the center of your recruiting universe, but content can elevate it and make it a dynamic, ever-changing entity that candidates don’t just visit once.

If you’re considering the time commitment that a content strategy will require, let me tell you that it’s worth the effort. As Scoop.It! reported, the company B2B Content Engine conducted a study to evaluate the relationship between content curation and website traffic and found that consistent content curation provided tremendously increased website traffic, but most importantly, it also increased generation conversion by 12 percent. In this competitive job market, who wouldn’t enjoy being pursued by 12 percent more interested, qualified job seekers?

The how to

In recruiting, lead generation happens when candidates sign up for your job alerts or email newsletter, apply for a job, attend a career webinar, or become a member of your talent community. You can make all this happen by simply providing content that people need.

Your content strategy for increasing traffic and leads should cover three important areas. First of all, it should be content that candidates want and need. If you know what candidates are searching for, you can make sure you’re on the other end of that search. This means providing resources that you may think don’t directly serve your interests (but of course they really do!) such as a job search guide, resume tips and interview tricks.

Secondly, your content should be timely and consistent. The most effective way to continually drive traffic is to continually produce content. Ideally, you’d have two to three blog posts a week, a new job-seeker resource monthly, and supplemental resources such as videos, webinars and podcasts bi-weekly.

Finally, your content should be sticky and convert your readers or viewers. It should leave them wanting to know more, like venturing over to your job search page after consuming the content. Always include some type of call to action, though you should consider doing so in a natural way rather than a forced request to view open positions.

Content is a powerful force, so make the most of it and increase the impact your career sit has on candidates and in within the talent pool.

TalentCircles is the most comprehensive candidate engagement platform on the market. Take a product tour or request a live demo today. 

Jessica Miller-Merrell, SPHR is a workplace and technology anthropologist specializing in HR and recruiting. She's the Chief Blogger and Founder of Blogging4Jobs and author of The HR Technology Field Guide. You can follow her on Twitter at @jmillermerell.   

Instagram: A Great Way to Attract College Students

By Jessica Miller-Merrell

We’re right at the beginning of one of the most important times of year for recruiters: college career recruiting season. While students are heading back to the dorms and the classrooms, recruiters are ordering promo items, packing up their cars for career fairs and spending their days talking to 20-somethings who will soon enter the workforce. With this new recruiting season comes the question of how you’ll engage your future talent pool. You know they’re mobile savvy social media users, but did you know that Instagram is leading the pack in terms of where they’re spending their social media time?

The last Piper-Jaffrey survey helps us hone in on which social networks college students are using. It found that Facebook and Twitter are still used, but Instagram is where it’s at for this group. Thirty-two percent reported that Instagram is their most-used social network, making it the leader by almost 10 percent.

If you’re ready to reach college students who are currently exploring internship opportunities or a post-graduation job, use these three tactics to reach them where they are.

Make them “heart” you

If you want to gain this crowd as Instagram followers, you’ve got to give them a reason to “heart” you, which is Instagram speak for liking someone’s photo.  Think outside the box and share photos that are clever, funny, touching (such as from a community service effort) and interesting. Be sure to use hashtags that will help potential candidates find you, leading them to heart the photo and then follow through to your profile to click follow.

Keep it real

It can be tough to strike the right balance between corporate and fun or branded and candid, but finding it is key. This generation wants authenticity, and your company’s Instagram account is the perfect place to gibe it to them. Stay true to your company culture and help them understand who you are as an organization through images.

Make yourself available

Many recruiters don’t necessarily see Instagram as a two-way communication tool, but it absolutely can be. Rather than just posting photos and occasionally responding to comments, use Instagram to source candidates by searching hashtags and commenting on photos when it makes sense. You can also direct message on Instagram and get the conversation started. While it’s not the most convenient place for conversations to take place, the end goal is to get them connected to your talent network, so you may want to think of Instagram simply as a starting point. Of course, you should always respond to comments on your pictures and even solicit questions or direct messages.

One thing that is for certain is that social networking is here to stay, whether it’s taking place on Facebook, Twitter, LinkedIn or Instagram. The networks may change, but the principle of engagement stays the same. Build relationships that encourage trust and drive the candidate to commit the ultimate recruitment buying decision of joining your talent network community. The rest is just details. You can check out these 10 Instagram accounts for employment branding to get your creative recruiting juices flowing.

TalentCircles is the most comprehensive candidate engagement platform on the market. Take a product tour or request a live demo today. 

Jessica Miller-Merrell, SPHR is a workplace and technology anthropologist specializing in HR and recruiting. She's the Chief Blogger and Founder of Blogging4Jobs and author of The HR Technology Field Guide. You can follow her on Twitter at @jmillermerell.  

The Future of Recruitment is Retention - Part Two

By Jessica Miller-Merrell

This is a two part series on recruiting economics. Click here to visit part 1. 

Recruiting has gone through many ups and downs in the last decade. As I mentioned in part one of this series, supply and demand has played a big role in how we recruit, with the recession that began around 2007 causing many companies to cut perks, pay and even their workforces. This caused a high supply of candidates to enter the job market, and a low number or job opportunities to be available to meet the demand. It was a tough time, but looking at the job market now, you’d be hard pressed to see evidence of it.

When the nation recovered from the recession, companies suddenly had a need for larger workforces to help them meet the demands of customers who were beginning to be freer with their money. In order to build up their workforce, companies had to bring back the perks they had cut, and then some, to attract candidates. There is an increased demand for talent and companies are revisiting not just revisiting the topic of perks, benefits and compensation programs. They’re also shifting their focus to be around retention in general. This is because we’re now in a job seeker’s market, and the competition to attract the best candidates is a great reminder of why retention truly is the future of recruitment.

Supply and demand vs. the repeat customer

When we talk about supply and demand in the job market, there’s a sense that either recruiters or job seekers are on top. The problem with this for recruiters is that while we may be on top at moments, we have no control over when or how that happens. Companies that aren’t able to retain employees will be carried by the high and low tides of the job market and economy. On the other hand, companies that are able to retain will be affected less in those shaky moments, and will be ahead of the curve when the job seekers are in control. In a way, it’s like having a repeat customer that continues to buy the essentials from you despite the fact that they may have to cut back in other areas in bad times or may be tempted by a hotter, newer product in good times. As a recruiter, retention is powerful.

Now that the economy has turned, companies are focused on hiring for the long term rather than just doing what’s best in that moment. Filling that leaky bucket that is your workforce is not just expensive in terms of recruiting costs but also productivity costs. It also impacts a company’s ability to grow and take advantage of this growing and thriving economy. That’s why retention in these four areas is key:

Retention of candidates 

You may be thinking that retention only applies to employees, but a recruiter’s biggest asset is their talent pipeline. Retention starts from the moment a candidate visits the career page, talks with a recruiter or begins considering working for the organization. Maintaining that pipeline is just as important as maintaining your workforce since turnover will happen, no matter how well you retain employees.

Employee retention

This is probably where your mind first went when we were discussing retention, and there’s good reason for it. Your employees are the lifeblood of the company and an experienced, tenured workforce is one of the most valuable things a company could possibly have.

Keeping high-potential leaders 

During times of high demand for workers, companies will likely be actively recruiting your high potential leaders, but they’ll also be sought after during tough economic times as well. As I said above, turnover is inevitable in every organization and when the job market isn’t looking great for candidates, recruiters can cherry pick who they want. Don’t leave your company vulnerable to having your high-potential leaders pulled away in either situation. Talk to them. Understand their dreams and goals and build a program customized to each and every high potential so they don't begin to wander.

Retaining linchpin employees 

It’s a widely accepted fact that companies that aren’t able to retain their key leaders suffer from all the stress surrounding the situation. Productivity, strategic vision and morale are all affected, so retaining these linchpin employees is essential for a healthy organization.

This is a two part series on recruiting economics. Click here to visit part 1. 

TalentCircles is the most comprehensive candidate engagement platform on the market. Take a product tour or request a live demo today. 

Jessica Miller-Merrell, SPHR is a workplace and technology anthropologist specializing in HR and recruiting. She's the Chief Blogger and Founder of Blogging4Jobs and author of The HR Technology Field Guide. You can follow her on Twitter at @jmillermerell.  

The Future of Recruitment is Retention - Part One

By Jessica Miller-Merrell

Be sure to check out part 2 of this recruiting economics series by clicking here.

The basics of supply and demand were drilled into most of our brains back in our Econ 101 days. I distinctly remember discussing the topic and thinking that it was interesting but not necessarily something I’d need to know in my future career. Except now I wish I had paid a litle bit more attention. Economics basics like supply and demand actually plays a big role in how recruiters do their jobs and job seekers find new positions. Of course, when there is increased demand, supply often diminishes. And during times when there is an increased supply, demand often decreases. This is why retention is key to good recruiting. The economy will bring high and low tides of open positions and job seekers, but a company that can retain its employees will not feel the affects of those tides nearly as much.

Putting theory to practice

We saw this theory clearly put into practice during the 2007 recession. Companies were feeling the pain of a weak economy and were making cuts to meet their own needs, which ironically, were affected by other aspects of the rules of supply and demand. Americans were clutching their wallets a little tighter, and companies had to adjust to stay financially stable during the downturn. It was a tough time for nearly everyone. One of the most common ways companies adjusted was by discontinuing some of the perks they offered employees, including significant things like generous paid vacation, 401(k) matching and tuition reimbursement, and even less valuable perks like free soda at work, holiday parties and gym memberships. Companies were cutting corners, and they saw this as a way to do so.

Even more importantly, many companies had to cut back on their workforce when cutting down on perks just wasn’t enough. This put job seekers in a tough position and furthered our economic situation as there were thousands upon thousands of unemployed people and just as many companies with no open positions. We had an increased supply of candidates with the demand for them diminishing. Not as many jobs were being created or filled, making the demand much lower. It was a recruiter’s market, but not in a way that any of us wanted.

What this recession caused was a situation where employers were offering less and expecting more. In the job market, the demand for open positions was high and the supply was low. Companies were not only taking away perks to make ends meet but quite honestly, they didn’t need to offer a lot of perks to attract candidates. This impacted salaries, benefits, workload and so much more.

Fast forward to 2015

The recession of 2007 may not be that far behind us, but you wouldn’t know that by looking at the job market today. Companies have quickly increased their workforces, brought back perks like unlimited vacation, excellent training and some benefits that were unheard of even before the recession hit.

It’s also affected the supply and demand of positions and job seekers. In fact, it’s flipped it on its head. Job seekers now have their pick of jobs, and recruiters are working harder than ever to fill those positions. This flip also demonstrated why retention is so important in recruiting. As I mentioned above, companies that are able to retain employees will be impacted less by the high and low tides, and the way our job market is looking now is a perfect example of this. Companies who aren’t able to retain employees are in the constant race to recruit, but those that have retention on their side are able to focus on fewer open positions at any given time since they the best people work right under their roof.

Watch for part two of this series where we’ll explore the types of retention that are essential to great recruiting in our current job market.

Be sure to check out part 2 of this recruiting economics series by clicking here.

TalentCircles is the most comprehensive candidate engagement platform on the market. Take a product tour or request a live demo today. 

Jessica Miller-Merrell, SPHR is a workplace and technology anthropologist specializing in HR and recruiting. She's the Chief Blogger and Founder of Blogging4Jobs and author of The HR Technology Field Guide. You can follow her on Twitter at @jmillermerell.