The workplace has been transformed by automation and digital software, and recruiting the right candidates is no different for human resources. We were all reminded of a few things over the past couple of years: talent will always be in demand as recruiters do more with less, and there will always be a shortage of resources and bandwidth in talent acquisition.
Essentially, hiring needs can change at any time, and candidate experience is — and will be — the ultimate determinant of hiring success.
So what’s the relationship between this and intelligent workforce management? It offers smart bandwidth. By automating repetitive, low-level, and manual (but essential) hiring tasks, a smart workforce management solution streamlines the hiring process. Meanwhile, it’s collecting data on every step of the hiring process so human resources can make informed decisions about how to improve.
It’s true that digital interfaces, nimble software, and apps are good at saving workforce managers and candidates time. But that’s not a business case in and of itself. With C-suite executives, you oftentimes need to prove new business value. You have to think like an executive and translate data into dollars, prioritize predictive analytics over historical metrics, and focus on revenue over cost-cutting. Top managers want to know how to increase revenue, productivity, and innovation.
In addition, as many experts have recently suggested, it’s about the big picture of the employee-employer relationship too. This includes simplifying the hiring process, finding the right employees, playing to your strengths, personalizing communication, being transparent, prioritizing the experience, providing clear advancement paths, creating open communication, emphasizing wellness, and giving recognition when due.
Nonetheless, here’s how to convince your boss:
Efficient Hiring: Strategic & Revenue-Generating Tools
Recruiters have an administrative-heavy and time-intensive workload, and the right software saves them time. Menial tasks such as sourcing candidates, screening resumes, following up with outreach, and more can be either streamlined or automated to free up recruiters’ time. In addition, some solutions can identify inefficiencies and show where talent is dropping out of your pipeline so you can optimize for time-waste. Team members using software tools can scale more easily and faster. Reduced operating costs and quicker time-to-hire are benefits of this efficiency since time-consuming tasks cost the most.
As a result, talent acquisition teams can spend more time doing more meaningful recruiting tasks: creating scorecards and evaluating candidates fairly; interview training; ongoing calibration; crafting a high-touch candidate experience; and making meaningful, long-term connections with top talent who will match the organization’s values, contribute to its culture, and drive revenue. Additionally, it frees them up to focus on high-value tasks, such as workforce planning, internal career paths, succession planning, skills mapping, and employer branding. By bringing in more quality hires sooner, online workforce management software becomes a revenue generator rather than a revenue drain. And those hires stay.
Effective Pipeline: Faster ‘Time to Hire’ & Lower Costs
It’s not uncommon for top talent to quit hiring processes due to pipeline delays. Every candidate’s status can be tracked by recruiting automation, where recruiters get notified when candidates are at risk of dropping out based on how long they’ve been in certain stages of the funnel. Candidates pass through these stages or get rejected, with fewer delays when individual stages are digitized. Even rejected candidates can have a better experience.
Collaboration is also easier, since recruiters, coordinators, hiring managers, and interviewers can access candidate profiles, add notes, give feedback, and move the process forward without bottlenecks of feedback meetings or uncertainty. It means getting decisions and offers out faster, reducing both time and resource waste, and reducing time-in-stage across your pipeline. By reducing agency spend and relying less on costly job boards, recruiting-software tools can lower your overall cost-of-hire.
Less Job Vacancy Days: Fewer Operational Dollars Lost
Your time-to-hire can be reduced with the right workforce management vendor. You already have a full talent pipeline from the discovery phase, so sourcing-from-scratch isn’t necessary every time a job opens. Set-and-forget communications allow for candidate reengagement. Engaging candidates this way leads to a better experience, boosting engagement, building interest in your organization, and getting more potential hires into the process faster. Once they’re in the pipeline, prescreening, turbocharged skills assessments, and communication will help move them along.
The more vacancies there are, the more profit and productivity are lost. Many executives in charge of human resources and hiring budgets want to know “dollars lost due to vacancy days” in reports. But you can reduce those vacancy days and lost productivity.
Improved Quality of Hire: Better Candidates
A recruiting technology stack’s return on investment (ROI) can be demonstrated best through quality of hire, which is the most valuable metric for demonstrating effectiveness and value as a strategic business function. Intelligent workforce management recruiting can lead to better candidates and better hires. Recruiters can focus on more important tasks to uncover quality talent, align with candidates, and give them great experiences.
What makes candidates want to work for you? Writing captivating job descriptions, building an employer brand people want to work for, nurturing talent over time, hiring people who align with your brand, doing in-depth interviews to make sure you’re hiring for culture, values, and requirements — these are all benefits. By utilizing data and analytics, you can consistently improve your process so you don’t lose the best candidates to irritation or impatience.
Actionable Insights from Reporting & Analytics
The final advantage is: you gather all kinds of data, including candidate details, activity feeds, notes, passthrough rates, rejection reasons, and more. You can present insightful charts and reports on trends — and improve. They’re gold mines. Where do you find your most successful candidates? What is your offer-acceptance rate? How long does it take to fill a job? Which candidates are you most likely to reject? Which ones reject the company?
You can forecast future requirements based on historical data. To make one single hire, it takes outreach, phone screenings, onsite visits, extended offers, and more. Teams can set goals, allocate resources, and track how they’re doing with this intelligence. Everyone has access to this information. Your recruiters can be better because of best practices that are shared team-wide.
Reporting and analytics gives C-level executives a quick overview of where recruiting is at any given moment. You’ll keep them engaged and informed about business-critical data such as time-to-hire, hiring channel effectiveness, hires by gender, demographics, offer-acceptance rates, and rejection reasons.
It’s true that data-driven workforce analytics can optimize your “people strategies.”
Contact VCS Software for more information and insights.