Monthly Archives: October 2015

Why Recruitment Needs Management Information

Recruitment Needs ManagementWith millions spent on recruitment every year, the importance of good information to guide you through the recruitment process is paramount.

Do you know how much you are spending on recruitment, do you know where it is being spent, and do you know if the money spent is getting the results you want? Good management information can tell you all of these things. The aim of management information is to get all of the facts in front of everyone.

Good management information can give you all of the facts you need to recruit the right people. For example, you have a recruitment process that has been ticking along nicely for several months with an average time to hire of 30 days, suddenly one month, it’s doubled to 60 days and continues at this pace for the following month. Where have the extra days come from? Is it the approval process, is it poor advertising response, or are you just busy recruiting for more jobs now than you were before?

With good management information you have immediate access to all of the information you need to find the problem and identify the areas in your process that are causing the delay, without having to spend many hours searching for the problem. You would be able to see how long the job took to be approved before recruitment could commence, which parts of the approval process took the time, how long it then took to advertise the roles, how good the response was for each advert, how long was spent screening all of the applicants, how long was spent interviewing and then how long it took to make the final decision.

Having access to all of this information not only allows you to quickly identify the cause of problems, it can also direct you in your decision making, allowing you to make your decisions based on facts rather than intuition and guess work. If your advertising costs are pushing up the cost of recruitment, then you can use the information provided to guide where to advertise. This can be both in general terms and more specific.

Any business trying to put this information together themselves can come across a number of barriers. All good management information starts with good data, and if the data is of poor quality then the information will be of poor quality.

Many companies use recruitment agencies, and it may not be in a recruitment agency’s best interests to let you know where they get their best candidates from because if you knew that, then you wouldn’t need the recruitment agency. Equally their systems are often not well suited to report on cycle times and recruitment ratios.

However, if engaging a recruitment process outsourcing supplier, dedicated to improving your processes, you should expect top notch reporting. It is in an RPO’s best interests to not only show you where your best candidates are coming from but also where you are losing potential candidates.

In the current climate there are many more people looking for work than a few years ago. Being able to target the better candidates can save time and money. Reporting can provide valuable insights in how to save money and improve the quality of candidates you can attract.

Masses of very significant data can be captured throughout the recruitment process, and can be used to gain valuable insights. Make sure that your data is working for you, and that your recruitment efforts are focused appropriately.

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 qualified professionals that we have contacted and vetted for each position you are looking to fill. We deliver only candidates that are interested in the position, are available in your location and have agreed to your salary range.

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 Can You Use the ‘Golden Hello’ to Help Attract Talent?

Signing BonusThe “golden hello” — more commonly known as a “signing bonus” — is back. Research from WorldatWork found that sign on bonuses were at an all-time high last year: 74% of employers were offering them, versus just 54% of employers back in 2010.

Not only are more organizations offering signing bonuses to new hires, but the bonuses are also being paid at higher rates. Executives have benefited most from this generosity, with 41% of them now receiving more than $50,000 in signing bonuses.

It’s not really surprising to see the rise of the signing bonus, as highly discerning employers are running out of ideas to attract top talent in a highly competitive market. The golden hello seems to offer a quick fix to the problem.

But, before we all start open our corporate purses and foisting thousands of dollars on hard-to-find candidates, it’s worth considering whether or not signing bonuses really do attract high-quality talent.

Little Direct Evidence Suggests That Signing Bonuses Will Actually Attract More Applicants

However, we could make a roundabout argument in support of the signing bonus. Several studies have shown that applicants are more likely to reply to job advertisement that clearly present pay. One would imagine that if a signing bonus was clearly presented in the job advertisement, that would make the role more financially attractive, thus drawing in more applicants.

However, this is a risky approach. A publicized signing bonus could make your business sound desperate, damaging your employer brand. It could also create resentment in existing employees who hadn’t received signing bonuses when they joined the company. Highly public signing bonuses might also encourage mercenary candidates to apply — you know, those candidates who care way more about the bonus than they do about your business.

If you are going to use signing bonuses as a talent acquisition technique, it might make sense to communicate these bonuses on a need-to-know basis.

Signing Bonuses May Help in the Negotiating Room

Using signing bonuses to attract talent may not be a great strategy. But that doesn’t mean signing bonuses are useless. In fact, the golden hello can be very useful at the negotiating table.

Signing bonuses can be used to offset any specific losses that a candidate may incur as a result of changing jobs, such as a reduced salary, a loss of benefits, or an increased commuting time. By easing the pain of these losses, signing bonuses can give hesitant talent the impetus to make the jump.

It seems clear that there are some real advantages to using a signing bonus in these talent-scarce times — but it should be used judiciously. Don’t go flaunting your signing bonuses in an attempt to woo talent. Instead, introduce the signing bonus quietly at the negotiation stage as a way to coax high-quality candidates over to your corner.

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 qualified professionals that we have contacted and vetted for each position you are looking to fill. We deliver only candidates that are interested in the position, are available in your location and have agreed to your salary range.

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…