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Principal Resource Group Blog

Principal Resource Group Blog

Monday, August 31, 2015

Investing in Cutting Edge Technology Can Be Key in the Recruiting Process

Does Your Company Have the Cool Factor?

Every organization wants to be considered a "Best Place to Work" in order to attract and retain top talent, yet there is no cookie cutter formula for achieving this. Many factors go into making your company a great place to work such as company culture, employee benefits, and other perks. One thing that remains constant among the most desirable employers is the "cool" technology factor. As companies increasingly focus on providing more enjoyable work environments and improving employee engagement, technology is playing a key role in championing those efforts. This is becoming especially important for attracting top millennial talent, as technology and the flexibility, creativity, and efficiency it can bring is extremely valuable to them.


Click to watch the video.

Deciding when and how much to invest in the latest technology can be an arduous task for many organizations, and will depend greatly on the industry in which the company operates, as technologies can provide a different impact in manufacturing environments, for example, vs. an office setting. Typically the focus is on improving productivity and efficiency, and transitioning people away for doing things the way they always have for years. The process is often not fun and is met with resistance. However, when you consider the ability of technology to provide the "cool" factor of being a great place to work, it provides added incentive for employers to introduce new equipment and software.

So why is the technology push more important now than ever before? It really is a reflection of the highly digitized, mobile world in which we live, especially as more Millennials are entering the workforce and eventually maturing into greater leadership positions. "As the job outlook continues to improve, candidates are attracted to companies that incorporate the latest gadgets and technologies into daily work functions," says Reagan Johnson, director of technology operations for MRINetwork. "The best talent know their skills are in high demand, so an employer's ability to sell prospective hires on the flexibility, more efficient communications, and the fun these technologies will provide, is invaluable."

Johnson provides the following tips for companies looking to enhance their "cool" factor through technology:

Make it mobile. Today's professionals value the flexibility to do their job wherever and whenever, and mobile technology makes that possible like never before. Consider laptops or 2-in-1 laptop/tablets over desktops, so your talent don't feel shackled to their desks. These will provide the flexibility to take work into the conference room, the coffee shop, or home for those late night meeting preparations before an early day. Cloud technologies such as Office 365's OneDrive and Google's Drive make any document available on demand, for quick reference and use by backing it up online and making it available to smartphones and tablets. Voice communication tools are additionally available to make phone numbers mobile. A number, and the voicemail accompanying it, can be set up to ring through to more than just one employee’s desk. This further allows employees to have the flexibility to take and make calls from anywhere.

Make it slick. Technology should look modern and cool. For example, while a small light laptop looks very impressive, it can also be made easier to use in the office environment by pairing it with a docking station and a multiple-monitor setup. This enables the laptop to operate as a desktop, in a more ergonomic manner for the office. Done right, a multi-monitor laptop set up can be impressive to see, leaving a good impression on potential talent, and also provide great efficiencies while working in the office.

Make it about communicating. Today's top talent are very connected, social and are used to getting instant feedback on their performance and in their communications. Consider implementing an instant communication platform such as Skype. This technology allows instant communication in a controlled environment that speeds up results. In fact, younger professionals use email less and less and will prefer more modern options to communicate.

Embrace social media for your company's communications both internally and externally. Top performers looks for companies to be communicating via social media. Consider apps such as Yammer to build an internal social environment for your employees to share ideas and garner feedback. Millennials, in particular, value frequent feedback and evaluation and respond best to visual data. Business intelligence tools that provide visual graphic dashboards are a great way to communicate constant, instant feedback to your teams so they can strive to out-perform themselves.

Ultimately, what makes an organization cool or fun is a combination of many factors. "Technology is becoming a critical piece of the pie in terms of building an enjoyable, engaging company culture, while also sending a message to current and prospective clients that the company is a forward-thinking, modern business," adds Johnson. "Marketing efforts, as well as recruitment and talent management strategies, now require an emphasis on the "cool" technology factor to attract and retain top performers, and maintain brand equity with clients and investors."

Click to view the full article on MRINetwork

Friday, August 28, 2015

The Recruiter's View: Candidate-Driven Market is Impacting Hiring More Than Ever Before

Despite some challenges during the winter months, U.S. employment has experienced consistent growth in 2015, with 251,000 new jobs as the monthly average. Many companies are expanding their teams, but are finding it difficult to recruit, especially in the executive, managerial and professional job market. In this sector, which is candidate-driven, employers continue to lose great candidates who are accepting other job offers. This is due to lengthy hiring practices, below-market salaries and an inability of prospective employers to sell their brand, the role and career-pathing opportunities. Retention is also a challenge, as the brightest talent recognize more jobs are available and feel more confident about pursuing them. Now more than ever, companies are feeling the pressure of the candidate-driven market, forcing many to reevaluate and overhaul their recruitment efforts, to attract and retain the specialized talent needed to move their organizations forward. 



New data from the most recent MRINetwork Recruiter Sentiment Study, a biannual employment landscape survey of MRINetwork recruiters across approximately 600 worldwide offices, indicates that the candidate-driven market, which has experienced a consistent uptick since 2011, is here to stay, and the rate at which top performers are rejecting job offers continues to grow. According to the survey, 90 percent of respondents feel the executive, managerial and professional sector is candidate-driven. This stands in strong contrast to companies who still believe employers are driving the labor market, and that their pre-recession talent acquisition and retention methods can still be effective.

"The job climate has definitely shifted in the past three years to a candidate-driven market," said a recruiter responding to the study. "Candidates now have choices and employers need to make the interview process go smoothly and quickly." The report reveals in the first half of 2015, a 36 percentage point increase from the second half of 2011, that recruiters feel the talent market is candidate-driven.

The availability of more job opportunities and a growing shortage of highly specialized talent are the overriding forces behind the candidate-driven market. With multiple job offers to consider and the ability to reject less desirable work opportunities, top performers have the upper hand. To that end, a reluctance by many companies to provide respectable wage increases, or offer competitive salaries to prospective hires, is impacting their hiring and retention abilities. According to the study, 47 percent of recruiters say the primary obstacle to hiring is a failure to recognize that top candidates are no longer accepting the low salaries that were customary during the recession. Further, year-over-year survey data points to acceptance of another job offer as the most common reason that candidates turn down a role, with a six percentage point increase from the first half of 2014. The message is clear; employers who do not recognize this reality will continue to lose their top picks to competitors. Further, the time between the first interview and the rejected offer is shrinking, with an eight percentage point increase from the second half of 2013, for candidates that rejected offers within two weeks of the first interview.

MRINetwork recruiters provide the following survey insight about rejected job offers:
  • The shift to a candidate-driven marketplace has been enormous just over the course of the last year. The biggest concern is that candidates understand this, but companies do not.
     
  • Companies tend to feel their offer/opportunity is unique. Candidates are expecting more in the way of benefits and compensation.
     
  • Employers think there are better candidates out there who they haven't seen. They also don't seem to have a clue that the best candidates are in the driver's seat.
     
  • Many organizations still don't realize they need to bring their A-game to attract.
With more top performers moving on, the candidate-driven market points to several things:
  • Internal and external branding will continue to be important as companies face growing pressure to sell their value proposition to employees and candidates. "Clients are beginning to, but not across the board at all levels, recognize this is a candidate-driven market where the best talent need to be convinced their lives would be better if they were in that particular role," says an MRINetwork recruiter.
     
  • Lengthy hiring processes must be replaced with streamlined, candidate-facing interviewing practices. One recruiter notes, "Clients need to understand that they are in a competitive situation and good candidates are getting multiple offers. "They are still taking too long to finish the deal."
     
  • Not surprisingly, talented employees who were hired at bargain salaries during the recession are moving on. According to one recruiter, "Clients are beginning to understand that if they aren't competitive with compensation and culture, they will struggle to make strategic hires. The time where companies could seek to hire someone who's already done/doing the job for which they're looking to hire, and willing to come for lateral compensation is just about over."
Although the study results demonstrate that top performers are driving the hiring process in the executive, managerial and professional space, recruitment and retention will continue to present challenges for overall hiring as the job market expands. The recruitment practices of the past are no longer effective and companies need to recognize that modern hiring approaches are now necessary to acquire and keep the best talent.


To view the complete study, visit www.MRINetwork.com/recruitersentiment