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68% Of Employers Can’t Fill Open Positions

April 24th, 2017 Comments off
qualified candidates

It’s hard to find good help. According to a recent CareerBuilder survey, the old adage may just be true. Nearly 68 percent of U.S. employers who said they were increasing their number of full-time, permanent employees in the first quarter of 2017 currently have open positions they can’t fill. The problem isn’t just a lack of candidates – it’s a lack of qualified talent.

The growing skills gap is a concern to 67 percent of employers. More than half of those surveyed say it has negatively impacted their business due to extended job vacancies, with a sizable proportion of employers pointing to productivity issues, an increase in voluntary turnover and revenue loss. HR managers report that extended job vacancies cost more than $800,000 annually.

What Does This Mean For You?

If you are unable to find the right talent outside your company, consider focusing your efforts internally instead. Investing in the talent you already have can fill employment gaps and keep your company running smoothly.

Here are a few ways to get started:

Take stock of your company culture. Companies with great cultures experience less turnover. Plus, happy employees are more likely to act as brand advocates and attract the right people to your company. If your employees aren’t happy, consider making changes to improve overall morale.

Reskill employees. Just because an employee currently works in marketing doesn’t mean that they wouldn’t be great for sales. Get to know your employees’ individual strengths and weaknesses and consider reskilling those with the potential to move laterally through the organization.

Find other ways to tackle the skills gap issue.

 

 

45% of U.S. Employers Plan on Hiring Full-Time, Permanent Employees in the Second Quarter

April 10th, 2017 Comments off
talent network

It takes time for an economy to recover after a recession. But when the tides do turn, increased hiring is one of the first signs that an economy is getting back on track. And according to a recent CareerBuilder survey, the hiring outlook for the second quarter is the best it’s been in a decade.

Forty-five percent of U.S. employers plan to hire full-time, permanent employees in the second quarter—up from 34 percent last year. This represents the highest percentage for the quarter dating back to 2007 when just 29 percent of employers planned to hire.

What Does This Mean for You?
With so many employers looking for talented candidates, the talent market will become competitive. Building a strong talent network will help you find and retain top talent.

Talent networks are automated platforms that enable job seekers to upload their information—name, contact information, work history, etc.—into your company’s database to be notified of new job opportunities. This helps you build a pipeline of viable candidates who are ready—and qualified—to step into open positions.

But remember, with a talent network, candidate experience is key. Make sure your site is easy to navigate and visually appealing. If it’s not, job seekers will be less likely to join.

 

43% of Employers Have Made a Bad Hire Due to Lack of (Or Insufficient) Background Check

March 27th, 2017 Comments off
background check bad hire

If your mother says she loves you, check it out. This saying—popularized by the City News Bureau—is intended to remind journalists that a sense of familiarity with a source doesn’t excuse you from verifying the facts.

While a healthy sense of skepticism helps reporters ensure that stories are true, it’s also applicable to employers looking to hire new candidates: Just because someone impresses you in an interview doesn’t mean you shouldn’t double-check their story.

That’s why background checks are so important.

Unfortunately, according to a new CareerBuilder survey, there is a great deal of confusion regarding background checks—for both employers and the candidates they are considering.

Forty-three percent of employers have made a bad hire because they either didn’t conduct a background check or didn’t receive good information about a candidate. Employees are also at a disadvantage—46 percent said they don’t know what information employers are looking for when conducting background checks.

What Does This Mean For You?

Background checks are always necessary and shouldn’t just be conducted on a case-by-case basis. Background checks verify a candidate’s story and ensure they are qualified for the position. Given that one bad hire can cost a company $17,000, this is an expensive mistake to make.

But before you decide on a background check provider, do some research. Inaccurate information can not only cost you a potentially great employee, there could be legal ramifications as well. One in seven employers have faced litigation for not hiring someone because of information that was found in a background check. Make sure your provider complies with the Fair Credit Reporting Act, which governs how background checks must be conducted.

 Do you believe these four myths about background checks?

What You Should Know About Human Capital Management Software

March 17th, 2017 Comments off
human capital management

If you work in HR or recruitment, you’ve liked heard the phrase “human capital management” but you might not have a clear picture of what it means for your organization and your people. After all, buzzwords gets tossed around all the time but they don’t always translate into a meaningful difference for anyone. Human capital management, however, is something to pay attention to because it can benefit everyone from recruiters to employees to candidates.

Human capital management (HCM) requires you to change the way you view your employees. Instead of seeing them as talent that is used to achieve a single company goal, HCM views employees as assets whose current value can be measured and whose future value can be enhanced through investment.

It looks at what an employee can be groomed to achieve throughout their lifecycle at your company, not just the open role they can fill now. HCM also takes into account every aspect of managing an employee and looks to streamline those processes to make your organization as efficient and productive as possible.

Here are four key considerations to remember about HCM when introducing the concept and the technology at your company:

1. It Streamlines Your Workflow.

You can integrate the fundamentals of HCM into your business, but you’ll get the most benefit from technology that addresses your needs. HCM software —which is often cloud based—increases automation for many tasks spanning recruiting, onboarding, benefits administration and enrollment and wellness program management. Instead of viewing talent development as a separate entity, human capital management includes it as part of the total employee experience along with payroll, workforce management, leave management and benefits.

In order to achieve this goal, human resources must maintain an open line of communication with operations and finance. No department acts alone. The more departments can easily communicate with one another, the less confusion there is.

2. Productivity and Efficiency Increase.

If you choose the right HCM software, it streamlines and automates many of the day-to-day recordkeeping processes and allows you to stay in compliance with industry and government regulations. For example, linking time and attendance to benefits administration makes it simpler for your organization to comply with current Affordable Care Act requirements, including the mandate to offer health insurance to all full-time and full-time equivalent employees. This saves time, money and confusion. When you reduce the risk of errors, teams spend more time doing their jobs and less time tracking down information or fixing errors.

Furthermore, tracking an employee’s total productivity in this way allows you to set short- and long-term goals and measure their progress.

3. You Get a Bird’s Eye View of Your Processes.

By linking all facets of employee management on one platform, you’re able to oversee the entire recruitment, hiring and management processes at once. This big-picture perspective—paired with the fact that all the information is stored in one place—will help you make strategic business decisions going forward. It’s easier to consider how decisions affect each department rather than viewing them as silos.

4. Employees and Candidates Get a Consistent Experience.

As an employer, you’re always trying to increase engagement—both with potential candidates and current employees. Curating the right experience is key to achieving both of these goals. HCM software, at its best, allows users to stay on the same platform during the entire employee lifecycle—from recruitment through onboarding and benefits administration. This improves their ease of use, which ultimately increases their likelihood to continue using the technology.

Learn more about CareerBuilder’s HCM solutions.

5 Things to Remember When Utilizing Data in Health Care Hiring

March 14th, 2017 Comments off
health care hiring

The health care industry is experiencing phenomenal growth, and with growth comes a demand for more talent. According to the 2017 CareerBuilder Health Care Talent Brief, 38 percent of health care industry professionals expect job demand to continue to outpace overall supply.

“Competition to fill these spots is fierce, especially in small, rural markets,” says Bobbi Hicks, President of Akeso Talent Engagement. The correct use of data in your hiring strategy can provide an advantage without incurring the high costs of a recruitment service.

1. Invest in tools that pull real-time data.

“Decision makers respond to facts and data. That said, it’s important to invest in tools that can provide you with a real-time snapshot of the market that you support,” Hicks says. “We regularly use paid recruiting tools like job boards, Supply & Demand, compensation portals, and social media sites to scope out our competitors and better predict salary ranges and time to fill.”

2. Pull compensation data more often.

Most health care companies pull compensation data once or twice a year. That’s not nearly enough, says Hicks. Pay rates change frequently due to high competition. Your staff likely picks up extra shifts at competing hospitals, so they know firsthand what the competitor is offering.

“You don’t want to risk training your leaders for another facility, because you didn’t compensate them correctly on the front end,” says Hicks.

Stay ahead of the curve by pulling compensation data quarterly.

3. Utilize Supply & Demand data to address the talent deficit.

“If you’re not utilizing Supply & Demand data, then you should be,” says Hicks. By tracking the number of nurses and therapists coming onto the market, you can locate where the talent deficit is, project how substantial it will be, and adjust your hiring strategy accordingly.

4. Include “NOT” statements in Boolean searches.

Boolean search is a helpful way to source candidates faster, but most researchers only utilize “and” and “or” statements. Including “not” statements allows you to exclude terms and narrow results. For example, “pharmaceutical and not sales” would yield candidates who have “pharmaceutical” in their resume, but exclude those with “sales.”

5. Don’t forget about culture.

Competitive compensation and large sign-on bonuses only go so far when attracting and retaining talented employees. You should strive to create a positive culture that values both the employee and patient experience.

“A $15,000 sign-on bonus puts up a red flag,” says Hicks. “Whenever I see that I think: ‘What’s going on over there that makes such a sizable bonus necessary to attract employees?’”

Proper onboarding — and off-boarding — can go a long way toward improving the employee experience and retaining top talent. Many times employees will leave to develop their skill sets elsewhere, but return seeking more senior positions. Ending the working relationship in a professional manner increases the likelihood that a talented employee will come back.

Put insight into action: Learn more about how to use data in health care hiring right now.

Why an Applicant Tracking System Should Be Your Next HR Technology Purchase

March 9th, 2017 Comments off
Applicant tracking system

Recruiting the right talent for your organization is no easy task. It requires juggling a lot of moving parts—including managing job boards, career sites and resume databases. It takes time and can create gaps that cause you to miss out on top candidates.

An applicant tracking system (ATS) can help simplify the process because it enables the electronic handling of all your company’s recruitment needs in a single platform. With an ATS, you can organize, collect and store candidate- and job-related data and track and monitor candidates through all stages of the hiring process.

Here are five reasons why you should invest in an ATS:

  1. Manage processes in one place.

Using multiple tools to manage the different steps of the recruitment process can be frustrating and time-consuming. An applicant tracking system can handle all of your recruitment needs from source to hire in one single platform. In addition, eliminating the need to log in to different systems saves time and allows your recruiters to make quality hires more easily.

  1. Increase efficiency.

An ATS can combine talent pools into a single, searchable database, allowing you to access past applicants, talent network members and resume database members with one search. The use of semantic search technology ensures that you’re only getting the most relevant candidates.

Some ATS solutions also include job distribution to automatically post the position to your preferred job boards, in case your current talent pool isn’t satisfying your needs, saving time and increasing ROI.

  1. Collect real-time data.

Recruitment strategy decisions require real-time data. In addition to producing reports on your internal processes, an ATS can deliver labor market and source tracking data. Labor market data helps determine how easy or difficult it will be to source candidates. Source tracking identifies where applications are coming from, so you can strategize accordingly.

  1. Build a talent pipeline.

Building a pipeline of talent for future positions is essential to any effective recruitment strategy. An ATS that includes candidate-optimized career sites with built-in talent networks helps you acquire and engage your pipeline. Candidates are instantly subscribed to receive email alerts of new opportunities at your company.

  1. Ensure compliance with government regulations.

An ATS can help you minimize and correct compliance issues—especially in regards to employment discrimination claims. Standardized job postings, interview questions, pre-selected reasons not to move forward with a candidate and self-assessment reports help ensure that you meet the standards set forth by the Office of Federal Contract Compliance Programs (OFCCP) and Equal Opportunity Employment (EEO) for all employers with 100 or more workers.

Not sure how to find the right technology partner? Check out our Recruitment Software Purchasing Guide.

 

How to Ensure Successful HR Technology Adoption

February 22nd, 2017 Comments off
HR technology adoption

The HR technology marketplace is currently experiencing a boom. Valued at over $14 billion, it has reinvented itself to include mobile apps, analytics and video along with cloud-based software and platforms. And while it’s easy to get caught up in all the latest bells and whistles, it’s important to remember that even the most impressive technology is worthless unless employees actually use it.

To that end, here are five strategies to ensure successful HR technology adoption at your company.

  1. Communicate. Employees won’t get on board with a technology change unless they understand both why it is happening and how they will ultimately benefit. Define a timeline for the change and present firm deliverables, such as the amount of time they will now save on a task because of the new technology. And do it early. Let everyone know about the change the moment it becomes a serious consideration.
  2. Get C-suite buy-in. Employees look to their leadership for direction. Having top-level employees vocalize their support for a new technology instills confidence. Make sure your C-suite is ready and willing to discuss the usage and benefits of the system as well. Opening a dialogue helps employees feel more invested in the change.
  3. Choose your provider wisely. While it’s important to choose a provider that offers the technology options you need, you should also consider those who provide “customer success” services to their clients. This service provides you with a point of contact at the technology provider to ensure that your employees are learning and using the technology correctly.
  4. Offer continued training. It’s not enough to offer a single training session or webinar and expect your employees to understand a new technology. After implementation, it is a good idea to have a team of trainers accessible for at least three months to help work out the bugs and ensure that everyone is comfortable and competent with the new system. It’s also a good idea to consider having “office hours” that allow employees to ask questions in a more casual setting.
  5. Set clear goals. Complete proficiency is too lofty of a goal when first launching a new technology. Break the learning process down into steps so that employees feel a sense of accomplishment and avoid the frustration of not mastering a new HR technology immediately.

 

Are you researching different types of HR Technology? Learn How to Choose the Right Recruitment Software.