Matt Singer, VP of Marketing at Jobvite
For a lot of businesses, it’s been a rocky few years. The economic crisis put a huge strain on individuals, changing their relationships with their jobs and their employers. People were not looking for employment for fulfilment, just to make ends meet.
Things have and continue to change though. The latest budget announcement showed the UK returning to the economic prosperity it experienced before the global crash. The recruitment market is mirroring this. It is an increasingly vibrant sector. This was backed up on April 17th by the Office of National Statistics, who released findings on this issue.
By comparing the three months ending February 2015 with September to November 2014, there were 248,000 more people employed, akin to every single person in Derby entering the workforce. This put the number of people in employment up to 31.05 million, a stunning statistic when you consider it is the highest recorded rate in the UK’s history. Alongside this, unemployment fell by 76,000, with 1.84 million out of work overall, which is the lowest rate since 2008.
This is set to continue, with projections stating that unemployment will reach 5.3% this year. But it is not just in numbers where change is afoot.
The shifting sands
The rosy outlook for employment in the UK is not just a sign it is exiting the economic crisis, but also that the job market is changing. The fact unemployment is set to go down to 5.3% means that, on average, there will be a thousand jobs created every single day.
This deluge of new jobs points to one thing: a shift in power. In the past few years, it has been employers holding the cards. With a lack of skilled positions, due to companies looking to cut costs and stay afloat, many accepted roles that they would not have previously considered. With a healthier job market, individuals have far more control over where they work and who they work for. Combined with expanding corporate requirements for skilled workers, it is now an employee-centric job market.
Making it millennial
Today, the UK is also experiencing one of the largest influxes of new workers. Categorised as those born in the mid-80s to early-2000s, the Millennials are the first generation raised on the internet. They not only see the world differently, but live and work in a way that is alien to generations before, and have become a key contingent of the workforce.
Millennials are digital natives. They use technology as an extension of themselves. The link to the vast resource of knowledge online has made them more particular about their jobs and what they want from life. They are more aware of the consequences of the actions of enterprises and connect and communicate in different ways. This digital shift has also impacted tenure, particularly among Millennials, due in part to the ease with which people can search and apply for jobs. Millennials also adapt quickly to the newest technology and are often amongst the earliest adopters of something new and interesting.
This presents enterprises with a challenge. To hire the best and brightest, recruiters and professionals must change with the times. In other words, they must alter where they find and engage with candidates.
Start with social
Finding a new approach starts with leveraging social media. In the past 10 years, there has been an explosion in social media. Consider Facebook. It was only founded in 2004, but, just over ten years later, has 1.39 billion active users. This has driven a huge change in peoples’ lifestyle, with individuals interacting seamlessly with each other - often blurring the lines between their personal and professional lives. Recruiters risk being left behind if they do not make the most of the tools available to them in this regard. They have a tendency to rely on familiar, old channels, unaware of the talent shortage they can create for their business, as these traditional locations are simply no longer how people engage with employer brands.
The actions of recruiters must reflect the actions of people. They have to harness technologies that enable them to use the same networks individuals use to find and attract the best possible candidates. Social recruitment must be a priority.
Analyse accounts
To truly stand-out in the market though, recruiters need to go one step further than just using social media. Discovering a deluge of individuals that fit your requirements through these channels is hugely positive, but is still not quite enough. Analysis is needed.
Finding a candidate who appears suitable for a role on paper is only part of the battle. To see whether they fit at a company or have the required skills normally involves a time-intensive interview, but this can be seriously reduced through proper analysis of a profile.
Once you have found someone on social who appears a good fit, you need to explore their profiles across a number of networks. Looking for examples of how they write, the tone of their posts and connections can give you a clear overview of the candidate. This not only saves time, but ensures people presented to the client will be a good cultural fit too.
Expanding inward
All the previous examples have been focused on outward social management, but this is not the whole story. The modern worker and Millennials have high standards for the business they want to work for. In the same way recruiters will view their social media profiles, potential candidates will research a company - its profile, resources and social media presence. This means the projection shown to the world must be engaging and congenial.
So, one of the most effective ways to attract the best candidates is to look at how your business appears online. Having a strong, personable and unified employer brand presence across social media will pay huge dividends. People will connect with this profile, viewing it as a place they would want to work.
The winds of change
The upturn in economy and Millennials entering the workforce has swiftly changed the face of business and therefore recruitment. Change is never easy, but it can be an incredible opportunity. Harnessing technology and social media to drive innovation in recruitment presents such an opportunity to HR and recruitment professionals. Using it right, recruiters can attract the right talent, help businesses shore up their talent pools and ultimately futureproof companies. But it is up to the recruiters and talent managers to drive this innovation into the business.
