Right now, the recruiting industry is on the edge of a tipping point. After years of shifting economies and a move towards candidate-centric strategies, it’s the dawn of a new era of recruiting. According to the Bureau of Labor Statistics, the United States unemployment rate fell to 3.7% in October 2018, a record low since December 1969 — meaning that while there’s never been a better time to be an American in the workforce, it’s also never been harder to be a recruiter
Navigating a tough talent market is not a new challenge. With more open jobs than available talent, and nearly all of today’s qualified candidates comfortably employed, recruiters are forced to leave behind what they know and come up with creative ways to attract candidates. Today, there are new standards and success metrics that matter more than cost or time. Based on our survey results, recruiters are looking to things like retention rate and performance of hire to ensure they’re hiring the best.
And with the candidate in the driver’s seat more than ever, recruiters are engaging with potential hires in new ways. Texting candidates is growing in popularity — with incredible response from job seekers — and new channels like Instagram are becoming important for recruiters as they evaluate potential candidates. And once they’ve signed on, candidates will no longer accept a “good enough” hiring or onboarding process. With buyer’s remorse on the rise among newly hired employees, recruiters are spending more time and resources getting employees up to speed during the onboarding process