As the year comes to an end, the start of a new year is a great time to be proactive and assess the growing needs and demands of a business. As businesses prosper, additional staff may be required. With the U.S. Unemployment Rate at an all-time low of 3.9 percent, hiring employees is currently a huge obstacle. Businesses are realizing that talent is scarce and vacant positions are staying open longer. This lag is causing business expenses such as overtime and job advertisement expenses to skyrocket. Employees are staying at work longer to accomplish necessary tasks and paid job advertisements are being posted for longer periods of time. With ongoing technology advancements and the millennial generation continuing to join the workforce, hiring managers must continually make sure they are equipped with the latest features and tools to optimize communication with these candidates if they want to fill vacant positions faster.
There is no doubt that the Millennial and Generation X are the main age groups that are taking over the current job market. As such, recruiters must realize that they have to cater to these groups and hiring techniques should be crafted in a way that will be as effective and efficient as possible in reaching and attracting them. With smart phones in hand, they are the ones driving and influencing the software and technology front. According to a recent LinkedIn study:
These statistics alone can certainly build a case for a recruiting strategy focused on using mobile phones as a medium of communication with candidates. Additionally, Glassdoor released statistics regarding a group of potential candidates that recruiters can target during this shortage of talent: passive candidates. A passive candidate is a person who is currently employed, but open to discussing a new opportunity with another company. About 70-75% of the market is classified as passive. The scarcity of talent has increasingly led hiring managers to reach out to passive candidates who fit their criteria. Ensuring that communication is as easy and effective as possible when dealing with these candidates becomes crucial in hopes of funneling them all the way through the hiring process.
With email open rates hovering below 20% and people preferring text messages over phone calls, text messaging is arguably the most effective way of communicating with potential candidates. Simple text reminders about upcoming interviews or reminders to finish an incomplete application are effective and efficient ways of funneling candidates at a faster pace. Only about 48% of businesses, however, are currently equipped to handle any form of messaging.
PAYDAY’s applicant tracking system (ATS), iSolved Hire, is at the forefront of this technology. iSolved Hire gives hiring mangers the ability to send text messages to candidates directly from the software. Text message responses from candidates are sent back in email format and delivered right to a recruiter’s inbox. Additionally, templates for common messages can be created and sent with the click of a button. The templates can be built to insert a candidate’s personal information to make them feel personalized and unique. If a recipient doesn’t want to communicate via text, they have the ability to opt out of text messages and receive email notifications instead. These features only scratch the surface of the numerous ways iSolved hire makes a hiring manger’s life easier.
As more and more people prefer text notifications, and tech-savvy Millennials join the workforce, implementing an applicant tracking system that’ll help you maximize your recruiting efforts is essential to finding and hiring the talent you need at a faster pace.
PAYDAY Workforce Solutions provides a single database SAAS solution for Human Capital Management (HCM) including payroll, human resources, time management, benefits administration and onboarding to companies of all sizes and in various industries.
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