Which recruiting trends will drive your success in 2016? As the New Year approaches, it’s time to position your company as a leading competitor from an HR and talent management standpoint.
According to a recent LinkedIn survey of nearly 3,900 corporate HR decision makers, quality of hire is your most valuable KPI – closely followed by your employee referral program and the investment you make in optimizing your employer brand. This survey was responded to by leaders around the world, however, it is worth noting that of these talent experts, more than 300 came from Canada – the nation with the highest level of representation in the survey.
Take every opportunity to improve quality of hire.
Nearly 40 percent of survey respondents agreed that quality of hire was their most valuable employee performance metric. Make it a priority to improve the ways you calculate and present quality of hire in 2016. Among the benefits of this strategy: It will help you to justify any needed budget increases.
- Consider dates, roles, sources of hire, and promotion data. Then, you can draw parallels across your top performers and use their common traits as benchmarks when you hone in on potential job candidates.
Enhance your employee referral program.
Your employees are your best ambassadors – and employee referral programs continue to be a key source of quality hires. As noted by one CEO, “Employee referrals are the single most important thing we do in recruiting. It is the number-one source of good, quality hires.” He advises employers to treat their employee referral programs like marketing strategies, not just HR tools, because “candidates are more likely to listen to their own network and their friends … Employee referrals get us a lot further in the conversation than we otherwise would have.”
- The LinkedIn survey shows that while social networks continue to be the leading source of quality hires at 43 percent, employee referral programs maintain a strong hold at 32 percent.
- Referred employees tend to have longer tenures with their companies, as well as higher performance levels, so it appears evident that referral programs will be an ongoing trend.
Build your brand.
An impressive 59 percent of employers surveyed said that their corporate investment in employer branding had increased year over year. A key aspect of your 2016 talent management strategy should be honing your employer value proposition and building your image in the talent marketplace.
- Partner with your marketing and communications departments. Tap into the capabilities of your branding experts – internal and external as needed – to optimize your brand. Use more outbound channels, including social media and professional networks.
Set yourself up for recruitment success by incorporating these trends into your strategy for 2016. For additional resources, contacts and expertise, consider working with the sourcing and hiring experts at Employment Professionals Canada. Read our related posts or contact us today to learn more.