If you analyze the job markets of the past 30 years, you’ll notice that a multitude of things has changed. From a mindset of getting a job for life, today we have a dynamic market where talent is prone to switch several organizations within a shorter time period, always seeking better opportunities.
This has greatly changed the way companies approach talent, with some things that were previously considered secondary are now taking the front seat in the recruitment process.
With quality talent being so scarce, brands today go extra lengths to present themselves as a desirable place to work. Employer brand defines the organization's value proposition, reputation and acclaim as an employer. Diversity of approach and innovative channels are fundamental for building an attractive company brand, a part of the company culture, which has never mattered more. According to research conducted by LinkedIn, around 75% of all applicants will research the company before deciding to apply. Company’s brand reputation influences employee retention as well, which may further scale down the need for recruitment activities.
An abundance of quality talent is immediately followed by extreme passivity of the talent participating in a recruiting process. In order to keep talent actively engaged, institutions are keeping up by presenting unlimited propositions, aiming to effortlessly match and engage with quality talent actively and passively seeking new opportunities. The desired outcome is to convert top passive talent and engage with them much earlier in the recruitment chain.
The ways institutions work with talent has been revised as well. The industry is shifting to treating talent as their customers. Putting a strong accent to talent’s experience is the strategy that pays best in the long term, but needs to start early on for greatest efficiency. Talent who had a positive candidate experience during the recruiting process (application, communication throughout, and closure) are more likely to accept the job at hand, future proposition, or even refer their friends and colleagues.