As we navigate through the early stages of 2017, the hiring landscape is full of excitement, promise, and the unknown. We have been in an increasingly stable economy for a few years now, the candidate-driven market is in full swing, and authenticity is becoming a priority for employers and candidates alike. One thing is for certain, 2017 will be a competitive hiring year with candidates obtaining more soft skills, companies offering more enticing perks, and millions of open jobs. In order to compete, you’re going to have to hire smarter in 2017. Here are the most important trends to keep in mind:
- Average time to hire
Time to hire has always been an important metric in recruiting, but it is now more essential than ever. Did you know that 30% of companies currently hire in less than 1 month? Chances are, those companies are landing the top talent you need to successfully grow your team. Over 50% of companies say it takes 1-2 months and 17% say it can be up to 3-4 months. In a growing candidate-driven market, the urgency of that 30% will win out when it comes to hiring the best employees. In 2017, you’ll need to ask yourself, what can my team do to get to that 30% range?
- Quality of hire
As the labor market opens up, candidates are more fluid and it’s getting more and more difficult to not only find the best talent, but to retain them as well. In 2017, companies will be focusing on measuring the success of their hiring. The number one contributing factor? The length of time new hires stay at a company. What many leaders forget, however, is that retention starts at the time of hire. Are you hiring the best candidates on the market? Are you accurately and transparently representing the culture and community of your company? Are you hiring for personality as well as hard skills?
- What you can offer a candidate
Gone are the days when candidates were in it “just for the money.” When considering an employer, candidates consider culture and values first and foremost, even before perks and benefits. Mission and vision also play an important part in the decision process. And when asked what swayed them to take a job? 44% said opportunities for career advancement and challenging work. We’re willing to bet that your company has a great culture, comparable benefits, and challenging work, but the question remains, are you conveying this information to potential candidates during the hiring process?
- Hiring budget
According to LinkedIn, 37% of companies plan to increase their recruiting budgets this year. When asked what they would invest in if they had an unlimited budget, companies prioritized employer branding, new technology, better sourcing tools, candidate experience, and training for recruiters. But what if there was one solution that could do all of these things for a fraction of the cost?
You’d be surprised at the power of partnering with a third party recruiter. At JSG, we can do all of these things and more (it’s kind of our thing). Give us a call today to discuss your hiring needs for 2017 and how we might be able to help. We can’t wait to connect you with the talent you need to make this year, your year.
*All data and information from LinkedIn’s Global Recruiting Trends 2017 Report. Click here to download.