While making efficient and effective hiring, the best source for recruiters has always been the current employees. This is why employers should eventually start focusing on recruiting internally.
No matter where you work in the world, it’s pretty safe to say that if you’re a recruiter, the past year must have been challenging.
Since the start of the pandemic, talent organizations across all verticals, industries and geographies have faced severe hiring headwinds due to the biggest contraction in the global economy since the Great Depression.
Businesses of all sizes have been forced to tighten belts and budgets over the past year, employers everywhere have been forced to make some difficult decisions around hiring and retention, with many organizations implementing furlough schemes, Have opted to introduce redundancy or resort to some sort of shortfall. Force.
Despite the introduction of initiatives such as the Coronavirus Job Retention Scheme or Job Support Scheme in the United Kingdom, which have protected 11 million British jobs since the start of the pandemic, an estimated 2.6 million UK workers claimed Jobseeker’s allowance last month, Evidence of this is the persistent and widespread impact of COVID-19 on the labor market.
Even today, with unemployment in the UK at a pandemic-era low of 4.8 per cent, the ONS still estimates that one in 20 British workers actively looking for a job are not getting one. And before that the CJRS is scheduled to end by the end of September.
While the future remains uncertain, there is at least one thing employers can count on: the inherent effectiveness of internal recruitment, which remained the top source of hires for recruiting organizations, as seen every year for the past two decades. it happens. . There’s no doubt that, even in the new normal, the old rules of recruiting still hold: the single most influential places companies eventually find the talent they need to achieve recruitment success, perhaps. The most obvious is – their current employees.
Yet, for some reason, despite its track record of efficacy and impact as the top-performing overall source for companies of all sizes, internal recruitment is one of the more overlooked, and under-funded, components of most companies’ talent acquisition strategies. is one of.
The good news is that the internal talent dynamic is finally starting to attract the attention — and resources — that it holds so true in recruiting. At least, that was one of the major takeaways. State of Internal Mobility 2021 Report, a new benchmark report from SmartRecruiters that takes a look at the current state and future outlook of internal recruitment and talent mobility.
Of the 310 complete responses we received from enterprise TA professionals in 14 countries (we ended up filtering out some of those hiring for organizations with fewer than 1,000 employees, as these were largely outliers), we found outliers among talent leaders. found a significant division. To improve internal mobility and the actions they are taking to achieve those objectives.
For example, 61 percent of respondents reported that their company currently has a “clearly defined, well-documented process for recruiting internal employees.”
This number sounds quite encouraging, until you consider that these respondents recruit for some of the biggest employers and most well-known brands in the world.
Since everyone works in an organization with at least 1,000 employees, and 98 percent of respondents reported that their company had at least one enterprise TA system, such as ATS or HCM, this number is actually surprisingly low.
It is interesting to note that two out of five respondents had no formal internal recruitment program, nor any kind of standard policies or procedures for internal talent, regardless of the complexity of the organizations they work in.
Even with relatively large budgets, global impressions and enterprise-grade talent technology systems, 40 percent of these employers explicitly focus on SaaS membership and paid job advertising, rather than promoting and retaining the top talent already working in their organization. Will spend money
This shows that even though each defendant somewhat agreed with the statement that “internal mobility is to some degree or very important to hiring success,” two out of five reported working for companies without formal internal recruiting programs. worked for.
It refers to a definite and dramatic difference between action and intent, particularly as the individual employs talent technology or other expensive, but entirely external, sources of hiring such as paid job boards, recruitment marketing or social recruitment initiatives. , or considering the relative expenditure allocated for point resolution. Passive Candidate focuses exclusively on sourcing and pipeline construction.
Despite this disparity in budget and resources, making a business case for internal recruiting is not particularly difficult.
Consider that about 76 percent of new hires end up staying for exempt roles. at least one year At an employer, that number drops to just 45 percent for workers who have been in the role for three years or more, a significant, and steep, drop in retention (and engagement) that typically results in an employee’s first and foremost job. occurs between the third anniversary.
It’s a small data point, but one that should make it abundantly clear when recruiters and hiring leaders need to actively intervene — or at least reduce unwanted churn while increasing employee retention. should do.
At least, on employees’ first and second work anniversaries, statistics show that career development conversations and encouraging employees to pursue internal opportunities after reaching these milestones more than doubled the likelihood that They’ll Feel Full Instead of Needing Backfill
For employees who have been promoted, 75 percent will remain with their company through their third work anniversary; 62 percent of employees who have made a lateral move last until their third work anniversary.
According to this data, simply assigning an employer a different role or responsibilities, even if their title and salary remain the same, would increase the chances of retaining a top performer by about 20 percent over a three-year period. This is a no-brainer as close as it exists today in talent acquisition.
That’s because at the end of the day, recruiting in general, but internal recruiting in particular, comes down to trust. And unless we can effectively build relationships with the candidates we hire as recruiting leaders, and until we can establish credibility as a career resource rather than a professional barrier, then Until then, we will continue to remember this mark when it comes to talent dynamics.
But if you can effectively create the processes, processes, and people needed to make internal recruitment not only a fundamental part of your talent acquisition strategy, but also a fundamental component of your company culture, you can make a difference in recruiting and hiring. Retention will do more than just boost results. You will create the kind of workplace that people really want to work in. And when a job starts becoming more than a job, and when an employer stops being a paycheck and starts becoming a true career destination, outside recruiting becomes a whole lot easier.
Everyone is looking for talent. But companies that find commercial success — and success — will do so because they are ultimately able to capitalize on their greatest assets and their greatest competitive advantage.
Download Internal Mobility Report Here
basically . Published on business reporter
Credit: www.independent.co.uk /