According to a study by the Wall Street Journal, labor turnover rates are increasing, especially among young people who last an average of 16 months at a particular company. It is not just a generational problem or that Millennials face life differently and have other goals. Employers also face their share of blame for the high turnover that currently plagues many different industries and market sectors.
As a result of the new labor dynamics, companies are looking for new ways to retain their employees, a task that experts say starts from the moment of recruitment.
According to recruitment and leadership expert Dave Fox, “recruitment trends are proceeding according to the changes in the labor market in recent years. The increasing use of technology in all aspects of company operations, globalization, and ever-intensifying competition have created a need for specialized recruitment processes”.
Using his considerable experience working with a wide array of organizations, Dave highlights the following six main recruitment trends that are transforming the processes of retention and talent acquisition. A company that takes these into account as they execute their recruitment and staff retention efforts will likely fair better in this evolving process:
- Recruitment of leaders: Executives can also afford to be choosy about where they land in today’s corporate landscape. When recruiting leaders, best practices revolve around seeking specific expertise, or identifying competencies and characteristics that meet the specific needs of the company. Regardless of the need to be met, the recruitment of a CEO or a top-level executive is one of the most important processes, and its success will be reflected throughout the organization.
- The leading role of digital platforms: Today, digital platforms are one of the main recruitment trends. Their use is not only limited to providing a space for a company’s messages; they also function as a candidate search pool and a key space for networking with potential employees.
- All about brand reputation: The maintenance of a company’s reputation is essential for it to maintain its customers. This is made more difficult by the prevalence of social media and review platforms where a brand’s reputation can easily be trashed. The company’s positive reputation as an employer is essential to enable a recruiter to find and retain candidates who are focusing on work environments and employee climates to make their decision.
- Data for talent: The trend of using data to improve processes is beginning to permeate Human Resources and recruitment. Faster identification of candidates and sorting out the most relevant information will be a key goal when carrying out a successful recruitment process.
- Customer Service 2.0: Previously, we thought about customer service as an external communication. However, today, it is equally important to ensure the satisfaction of the internal customer in order to positively impact the retention of staff and the attraction of new talent.
- Employer brand spokespersons: Now, the credibility of the brand is based on the voice of employees who share content, opinions, and perspectives that add value to the brand and its reputation. It is important that companies begin to generate spaces for their employees to become ambassadors of the brand. This can help counter any negativity spread online and enable companies to more effectively promote their values to customers and recruits alike.
