Job candidates become empowered candidates when they conduct more research about the potential role and company before applying for the position.
Why Should You Care?
Today, 80% of candidates seek information from external sources (e.g., Glassdoor) before they even apply for new positions. As a result, candidates have a better idea of what the role they are applying for entails, and they are often armed with information related pay and company culture, which makes Recruiting’s job much harder. To overcome this challenge, organizations must focus less on managing a channel strategy and more on managing the individuals who can influence the conversations that occur on those channels.
Compounding this recruiting complication is that the demand for critical talent (i.e., those candidates with skills that employers highly value) is growing as organizations adopt new technologies and enter new markets. In fact, 23 critical roles are in high demand at 90% of the S&P 100. So, the recruiting function not only faces well-informed candidates but also candidates whose attention is being fought over by even more organizations than in the past. Organizations must better understand prospective candidates’ decision-making process and act as career coaches to prompt candidate career conversations, adapt candidate career concerns, and reduce overall candidate effort by making the recruitment process as easy as possible. An organization that focuses on coaching career decisions, rather than selling the role, will need to reach out to far fewer candidates for the same results.
What’s the Catch?
Seventy-one percent of organizations will attempt to match all the critical requirements of a job description when attempting to hire new candidates. These unrealistic expectations mean that the roles they are trying to hire for will be even more competitive, as the pool of highly matched candidates will be small; yet those same candidates will still be in high demand from a large number of companies, and that increased choice empowers candidates further. Organizations need to optimize their search criteria to find more types of candidates—for example, by redefining hiring requirements for a particular role or searching for nonobvious candidates with transferable skills.
Assessing the Trend
Readiness by 2020
Impact by 2020
Case in Practice
- A consulting company minimizes the risk of any destructive influence on career networking sites by preempting, monitoring, learning from, and responding to any individuals who detract from the company’s brand. This company uses a simple decision tree to optimize its influence when responding to brand detractors by assessing the platform the comments are posted on, the influence of the source, and the provenance of the content. This approach helps the company ensure the responses they give to brand detractors focus on clarifying or reaffirming the comments or even deter prospective candidates away from negative comments posted by brand detractors.