Monthly Archives: March 2016

Improve Your HR Metrics by Harnessing the Power of Data

Word cloud for Employer BrandingCompanies like FitBit have made us addicted to data. If you want to lose weight, you can use data to better understand your sleep and activity habits, and then make changes to reach your goals. By simply wearing their product and choosing from an array of applications, you are provided with eye-opening data, and even a bit of fun in the process.

So why not use data to attract more of the right candidates and improve your bottom line?

Employer Branding and Your Bottom Line

The concept of Employer Branding is fairly new to many people, but the return for companies that invest in this area deserves consideration. Take a look at these statistics from a LinkedIn study on how a great Employer Brand can improve your company’s bottom line:

  • 28% reduction in the organization’s turnover
  • 50% cost per hire reduction
  • 50% more qualified applicants
  • 1-2x faster time to hire

Source: LinkedIn study.

Accurate data analytics with actionable insights provides the key to unlocking this kind of value.

Let’s go back to the FitBit example. Imagine having that experience with your Employer Brand. Insightful data about your strategies, your social influence, proof of your ROI; all of these things and more are possible when you harness the power of data analytics.

Recommendations for Getting Started with Employer Branding

Working along with the analytics, here are a few recommendations for measuring and improving your Employer Brand:

  1. Figure out what the ‘finish line’ looks like. There are general goals that can be achieved by managing a great EB, but it’s time to get specific. What type of candidate are you looking to attract? Is your EVP (Employer Value Proposition) clear and communicated effectively? Answer these questions first and then plan your strategies and tactics to support those goals.
  2. Choose, measure and track what matters. As you move forward, decide on KPI’s (Key Performance Indicators) related to your people and culture goals, and then track them as you implement your changes.
  3. Implement changes based on your data and current research. Trends that appear in your data, or in relevant research in the field (eg. The LinkedIn study above) will bring opportunities for change, so it’s important to always be open to trying new things like employee generated content, videos that openly share who you are without too much production, and other ideas that may be outside of your norm
  4. Reap ALL the benefits of a great Employer Brand. After you’ve put in some serious work on points one through three, you’ll begin to see a return on your Employer Brand investment. Follow your key HR metrics (see examples from the LinkedIn list above) from start to finish and you’ll see the positive effects that a great Employer Brand has on your bottom line.

Start Small, Start Now

The concept of Employer Branding is gaining momentum all over the world, in companies of all types and sizes. Employers are quickly recognizing the return on investment here, in areas like employee retention, engagement, and ultimately, their bottom line. Whether you are a team of one or one-hundred, you can start small, but you should start today.

Zero Fee Recruiter is a new and better way to find great talent.

We are the world’s largest passive candidate marketplace. We provide you with only qualified and verified professionals that we have vetted for each position you are looking to fill.

ZFR focuses on passive candidates that we source through our proprietary system, “Reach Out”, and this enables our team to reach candidates that are not actively looking.

We guarantee results! It’s that easy…

5 Proven Methods to Improve Talent Sourcing

Talent SourcingIt can be quite a nightmare trying to find the perfect candidate for that new job opening at your company, and sometimes the person you want simply doesn’t exist.

There are a number of strategic checkpoints that you can constantly work on, and they can help ensure that you have a quality talent pool at your fingertips as soon as you’re ready to hire.

1. Start Talent Sourcing Before You’re Ready

Hiring takes a long time, and that’s unlikely to change. In fact, it’s a safe bet to assume that the waiting period is going to increase as technology enables hiring managers to become pickier. In June of 2015, DHI Hiring Indicators found that the average time to hire a new employee takes more than 27 days. However, this is across many industries, and more specific roles often take significantly longer.

One of the best ways to avoid this delay is to anticipate growth. That way, you’ll you have some candidates ready when you get the investment or make the change. You may not be able to have them start working the specific day you want, but the gap will be much shorter.

But, don’t take our word for it. Listen to this advice from the team at Impraise:

“Start recruiting even if you don’t have open spots! It can take a great deal of time to find the right candidates once you need them, so make sure you start looking for new talent way ahead.”

2. Keep a Watch List

Even if you don’t need to hire someone, start keeping a list of potential employees. This is especially useful for very specific roles. For example, if you come into contact with a talented mobile developer but don’t yet need an app, save their contact information for when you do.

Keeping this list will save time when you actually do need to hire. Instead of starting from scratch, you already have a short-list of candidates, and you can start moving forward with them.

You don’t have to contact these people when you find them, but sometimes that can save time. If you have an informational interview, you will now be on the candidate’s radar, and they might already have an internal desire to work for your company by the time there’s an opening.

Glassdoor did some research, and they found that phone interviews lengthen the hiring process by about 8 days, one-on-one interviews by about 5 days, and presentations by about 3 days. So, pre-screening a watch list can really, really work to speed things up.

3. Every Employee is a Recruiter

Studies routinely find that referrals have the highest interview to hire ratio of any hiring strategy.

Knowing this, don’t forget to empower your most valuable recruiters: your employees.

After all, with the exception of your HR department, it’s unlikely that the new hire will be working closely with the recruiter. So, isn’t it logical that the people who will actually be interacting everyday have a say? Friends of current employees are often a natural fit for the company culture, and they might even already have good relationships with their future co-workers.

Also, if you make an effort to work on your employer branding, potential hires get the impression that you care. Glassdoor found that 94% of people are likely to apply to a job if the company regularly updates their online image, such as responding to reviews or creating videos about employee life.

But, before you let your employees loose, set some ground rules. Tell them what they are (and aren’t) allow to say to potential hires. Plus, be very clear about any incentives they’re going to receive for recommending friends.

4. Maintain a Career Site on Your Website

Having a career site on your company website is an extremely valuable hiring tool. Many people looking at it are already interested in your company, so it takes less convincing work on your part. Plus, you have complete control over your image.

If you do this correctly, it will save your time. All you have to do is to let people know about your company culture, and they won’t apply if they don’t fit it.

5. Source Outside the Box

Like all other areas of running your business, don’t be afraid to do some innovative thinking about candidate sourcing.

Willem Wijnans (Sourcing Monk / Improbable) has highlighted some really clever methods that companies have used to attract talent. One company advertised inside online video games, another put a hiring notice on a billboard (in ASCII code) next to a competitor’s office, and it’s not unheard of to advertise hiring on the name of a WiFi network.

While most of these ideas are pretty specific (and tech related), using creativity can really put you ahead of your competitors.

As you can tell from all of the ideas listed above, candidate sourcing isn’t something you do when you have an open position and then stop. It’s an ongoing and constantly evolving practice, but it can save your company significant time and money if done right.

Zero Fee Recruiter is a new and better way to find great talent.

We are the world’s largest passive candidate marketplace. We provide you with only qualified and verified professionals that we have vetted for each position you are looking to fill.

ZFR focuses on passive candidates that we source through our proprietary system, “Reach Out”, and this enables our team to reach candidates that are not actively looking.

We guarantee results! It’s that easy…

How Hiring Contingent Workers Can Solve Your Hiring Challenges

Contingent WorkersAccording to a 2013 Addecco Staffing survey, 92% of executives believe there is a very real “skills gap” that prevents employers from finding and hiring top talent. Many thought leaders in the recruiting and staffing industry have weighed in on whether the skills gap is real or imagined. But it’s clear that in certain sectors, such as STEM (science, technology, engineering and mathematics) there are not enough workers with the desired skill set available in local talent pools. In response, many organizations have sought to get creative. Some employers have sought to reach beyond local talent pools, hiring workers located abroad. Others have sought to train existing employees to embrace new skill sets, and others have turned to hiring contingent workers to obtain the talent they need.

The Manpower Group estimates that contingent workers will grow to 64.9 million workers in America by 2020. Particularly in the healthcare field, where jobs such as registered nurses have spiked in demand by a whopping 34.6%, contingent workers have become a preferred solution to close the skills gap. As the American economy continues to improve and workers increasingly value flexibility in their work, the contingent worker trend shows no signs of slowing. Employers seeking to fill difficult positions are increasingly embracing this trend. But do you know how to hire these contingent workers strategically?

Strategically Hire Contingent Workers

Contingent workers have become one of the leading ways organizations fill vacant positions. In the healthcare sector, these workers are available to help already overworked staff address growing concerns regarding patient care. These workers provide the necessary support that hospitals need during busy flu seasons, community health programs, and more. But hiring contingent workers and managing them is no easy feat. Many organizations have found that recruiting, training, on-boarding, managing and off-boarding them can be extremely costly and difficult. Try the following tips to hire and manage your contingent workforce better:

  • Use a Vendor Management System.  Vendor Management Systems (VMS) are a growing trend in managing contingent workers. This technology has grown in popularity because managing contingent workers and managing risk has become extremely difficult. With so many moving pieces involved in a contingent work assignment, many organizations find they are unable to develop transparency and risk management strategies on their own. VMS providers are able to offer software that solves this problem with centralized data management, vendor classification, contract and data storage, payrolling capabilities, and more. VMS systems allow organizations to gain a comprehensive view of their risk, costs, and data and to manage it proactively.
  • Partner with a Contingent Workforce Management provider. In order to hire contingent workers, many organizations must keep lengthy lists of staffing companies in the hopes of obtaining the talent they need. Using one supplier to manage the hiring of contingent workers simplifies the process and saves organizations money. Under this model, one supplier would manage multiple staffing companies. Using a vendor neutral approach, this allows organizations to obtain the best talent at the best rates and best contingent workers. Staffing suppliers are better able to determine organizations’ needs under this model, proactively competing to provide the best talent at the best rates. With a dedicated program manager, staffing suppliers are also better able to forecast placement, working to develop targeted talent pools.
  • Develop strategic labor strategies.  When hiring contingent workers, it’s important to have an overall strategic labor strategy. Stakeholders should meet to define the size and scope of the project requiring contingent workers, which roles are critical to its success, budgetary guidelines, and opportunities that may exist to hire contingent workers full time after the assignment has ended. Often, contingent workers are highly skilled workers who seek autonomy and flexibility in their work environment. Organizations that can provide these options could find they are better positioned to hire these workers after their assignments end. In many cases, organizations find this to be a wonderful recruiting tool for their next great hire. A solid labor strategy will help identify these opportunities, reducing vacancies in the organization as a whole.
  • Develop a system for performance management. Once contingent workers are hired, it’s important to check in and see how they’re doing. Because these workers are often project based, clear guidelines must be established to determine what a successful assignment would look like, how the talent will be evaluated, and how contingent workers will be managed if they’re not accomplishing project goals.

In many industries, organizations are facing an uphill battle to hire during a skills gap. With the addition of contingent workers, this makes hiring in these industries easier with opportunities for organizations to save time, save money, and to effectively manage risk.

Zero Fee Recruiter is a new and better way to find great talent.

We are the world’s largest passive candidate marketplace. We provide you with only qualified and verified professionals that we have vetted for each position you are looking to fill.

ZFR focuses on passive candidates that we source through our proprietary system, “Reach Out”, and this enables our team to reach candidates that are not actively looking.

We guarantee results! It’s that easy…