#1: Scalability Is a Strategic Advantage

No matter their size or recruiting complexity, companies are still navigating rocky terrain when it comes to hiring. Those that are actively hiring for new positions have challenges finding enough quality candidates. That’s why it remains the top priority for HR leaders in 2023. In fact, nearly two-thirds (61%) of HR decision makers indicate their first priority in recruiting this year is improving the overall quality of candidate.

However, based on Employ data, the number of new job listings across organizations decreased last year between the second and third quarters by 10.4%, representing a pullback from historic highs seen in early Q2 2022.  With new open jobs trending downward, companies will likely experience a continued increase in the total number of applications in 2023.

So while the labor market remains tight, it is also possible that companies are pulling back on hiring during this time. In response, business leaders should empower their TA and HR leaders to adopt more agile recruiting strategies that enable them to scale up or down, depending on their own business needs.

Scalability has become a key strategy for successful recruiting. It allows teams to evaluate their hiring process at all steps of the talent lifecycle to find areas of improvement and keeps teams ready to adjust to changes in the market.

Agile recruiting helps TA teams to:

• Analyze and optimize recruiting processes
• Evaluate and improve on key recruiting metrics like quality of hire and time-to-hire
• Shorten the hiring process to fill roles quicker with qualified talent
• Easily adjust to the changing job market to meet candidates where they are

#2: Technology & Process Prioritization Is Essential

Following multiple years of job market uncertainty, employers are still looking for ways to speed time to hire and focus on automating parts of the hiring process. This is often done by identifying technology and processes that can take repetitive, mundane tasks away from recruiters and hiring managers, and automate those activities for faster hiring.

Companies that plan to increase recruiting spend will most often do so by increasing their budgets for new recruitment technology processes (59%), job advertising (57%), new recruiting team role hires (45%), and by expanding their existing recruitment technology stack (43%).

Additional technology investments will likely go toward:

• Applicant tracking systems (59%)
• DEI initiatives (51%)
• Candidate relationship management (50%)
• Sourcing, including RPO (47%)
• Career sites (41%)
• Offers and onboarding (41%)

> PRO TIP: Leverage purpose-built recruitment technology

Adopt recruitment software and talent acquisition technology that is tailor-made for the complexity, size, and hiring needs of your business. By investing in purpose-built technology, companies can ensure they are more competitive to connect with the right talent and streamline their processes.

#3: Recruiting Outcomes Are Paramount

Understanding where HR decision makers face the biggest challenges right now, and actively seeking to address those difficulties, can make a difference for companies looking to improve the quality of candidates and improve the speed of hiring.

Here are two strategies that can help organizations improve their overall quality of hire, increase efficiencies through automation and workload reduction, and support compliance across companies of all sizes:

• Deliver positive experiences: Take care to invest in the needs of hiring managers, recruiters, and candidates, and deliver positive experiences for these audiences. Work to shorten feedback loops, improve communication and collaboration, and engage each stakeholder more deeply within the hiring process. If applicable, focus on engaging with gig workers and nurturing relationships with individuals who are in revenue-generating roles. Ensure the hiring process delivers positive experiences that enhance the company’s employer brand.

• Identify where to optimize processes: Leverage data-driven insights and analytics that inform where bottlenecks exist in the recruiting process and uncover opportunities to speed up time-to-hire and boost the quality of candidates. By keeping a clear pulse on applicant flow and the talent pipeline, companies can uncover insights into where the recruiting process can be improved.

Final Thoughts

Interested in deeper insights to start the new year? Download the Employ Quarterly Insights Report here or discover other relevant content in our resource library.

The post What Talent Acquisition Priorities Should Business Leaders Focus On In 2023? first appeared on Jobvite.

The number of job openings stayed above 10 million in the latest JOLTS report, according to the Bureau of Labor Statistics, and several sectors saw key gains in total jobs open. Employ data reveals the total number of open positions in the healthcare industry grew by 5.2% between Q2 and Q3 2022, and professional services also saw an increase of 5.6% during the same period.

Companies that recognize the challenges of the current hiring environment proactively monitor key recruiting metrics to improve their recruiting programs and to stay competitive in finding top talent.

The Recruiting Metrics You’ll Need to Succeed This Year

The most strategic employers use recruiting analytics software to measure their hiring programs from job requisition to onboarding and beyond. And they gain valuable insights into the candidate, recruiter, and hiring manager experiences to optimize their processes. Take a look at the top 10 key recruiting metrics that can help you drive improved hiring outcomes in 2023 and beyond.

#1: Source of Hire

Many recruiting teams are tracking the source of their hires to understand where their best candidates come from and to further focus on more strategic recruiting initiatives, like DE&I, in the new year. This metric identifies where new hires come from and helps recruiters to expand the diversity of talent pools by looking for different sources for candidates.

#2: Source of Application

Applicants can come from a variety of channels, so it’s essential that recruiters know where their most common sources of applicants come from to improve their recruiting ROI. This allows talent teams to prioritize time and ad spending for different job requisitions to target more applicants like those who have applied and best met their job requirements.

#3: Applications Per Requisition

Measuring the number of applicants per requisition is a valuable way to see which roles are the most difficult to fill and which are most popular among candidates. Every company and industry have positions that always take longer and more effort to fill than others, so measuring number of applications for each open role can help to remedy this. It’s also a valuable metric for improving recruiting strategies like seasonal hiring.

#4: Candidate Conversion Rate

The candidate conversion rate is the number of candidates that view a job posting, fill out, and apply for a role versus the number that started to apply and left. This metric is useful for talent teams to analyze the candidate experience through communication channels like job boards, social media, and even email.

#5: Candidate Engagement Score

Use metrics like the candidate engagement score to identify candidates that are highly engaged with the employer brand during the job-seeking and hiring process. Candidates with high engagement scores respond quickly to messages, apply for multiple roles in the company, and even engage with the brand on social media.

#6: Onboarding Program Completion

With high turnover in companies today, up to one-third of all new hires in the first 90 days, according to Employ data, employers are focusing on retaining their talent from the very start of the hiring process. Companies that recognize the strategic role that onboarding plays understand how to better retain new hires. Onboarding analytics that determine areas of success and improvement in the current onboarding program should be considered an important part of your hiring process.

#7: Quality of Hire

This metric has been a hot topic for recruiters in recent years, and the definition has changed since talent teams started measuring it. Quality of hire is the value that a new hire brings to the organization, and it can be determined in several ways. From hiring manager satisfaction to meeting the requirements of the job to retention in the organization, overall quality of hire and can be very useful to improving the types of candidates you recruit.

#8: Employee Turnover Rate

High turnover and low unemployment in the market has put a strain on organizations that are looking to grow this year. Strategic recruiting teams are closely monitoring metrics like employee turnover to see where they’re losing valuable talent.

#9: Internal Mobility

To keep talented employees within the business, your company should prioritize internal mobility programs over the next 6 to 12 months. It’s crucial to create career pathways for top talent in the organization; otherwise, you may risk losing them to competitors. Incentivize management to refer employees for promotions or help them with other lateral career moves within the company.

#10: Recruiting Channel Response

The most strategic employers deploy recruitment marketing campaigns to grow their employer brand and make it easier to convert top talent. Monitoring key communication metrics, like email performance, text message response rates, and career site engagement can give a detailed picture of the candidate experience.

Get Moving on Hiring in 2023 and Beyond

As your company finishes up recruitment planning for 2023, and prepares for more expected turbulence in the labor market, make sure your organization is ready to find, hire, and retain top talent. Download the 2023 Recruiting Effectiveness Planning Kit for actionable strategies and guided direction to recruit this year.

The post The 10 Key Recruiting Metrics You Need to Track in 2023 first appeared on Jobvite.

Employ data from more than 18,000 customers and a survey of more than 1,200 HR leaders and talent professionals reveals that one-third (33%) expect their recruitment spending to remain the same over the next 12 months. However, more than half (54%) expect to increase recruitment spend in their company this year. Spending increases are most expected in medium-sized businesses (66%), while 53% of large enterprises and 43% of small businesses anticipate increasing budgets for 2023.

So when it comes to focused investments, here are the top five recruiting trends we will likely see in 2023:

#5: Enhancing DE&I Programs

Diversity, equity, and inclusion (DE&I) initiatives continue to have greater priority and focus for organizations of all sizes as companies realize their value for attracting higher quality candidates and contributing to workplace performance. In 2023, 33% of HR decision makers plan to increase their investments in DE&I programs. This is an increase of five points since June 2022 for spending on these initiatives, and reflects the importance of creating a workforce that values a diversity of perspectives. 

#4: Bolstering Employer Branding Initiatives

Investing in employer brand initiatives continues to be a priority this new year. In fact, more than one-third of employers (35%) plan to increase their budget in this area. Why? Candidates seek companies that align to their own values and want an idea of what it’s like to work in the company before applying. Staying competitive in a tight labor market means continuously investing in your employer brand, and remains a top priority for companies in 2023.

#3: Hiring New Recruiting Team Roles

Employ data reveals that 45% of talent teams plan to add new recruiting team roles in 2023. Investing in the recruiting function and the resources to help keep up with demand in finding high quality talent is widely seen as vital for companies of all sizes, especially during periods of growth. Even in the midst of economic uncertainty, large and small businesses continue to invest in their teams, knowing they need the right people to meet the hiring demands of their business and to combat the tight labor market.

#2: Expanding Job Advertising Presence

In 2023, companies can anticipate increases in job advertising. Employ data reveals 57% of companies expect to increase advertising budgets for open roles and to attract higher quality talent. Posting open positions on job boards is a solid approach for broadening your company’s talent pool. It also expands awareness of positions that passive or active candidates may not have previously had visibility to and enhances your employer brand online. Ensuring that you use targeted job advertising is imperative and can help find the right candidates who will best fit your open positions.

#1: Increasing Investments In Recruiting Technology

As the labor market continues to see a high volume of open positions and the potential for recession continues, companies both large and small need to increase their hiring efficiencies and reliance on automation to streamline hiring efforts. That’s why it’s the number one trend for 2023. In fact, 59% of HR decision makers, recruiters, and talent professionals expect to increase spending on new recruitment technologies. This includes an increase of more than 17 points since June 2022 for spending on applicant tracking systems, an increase of eight points for candidate texting solutions, and an increase of five points for candidate relationship management systems.

Remember, Scalability Is Key to 2023

Planning during times of uncertainty is one of the biggest challenges HR decision makers, recruiting experts, and talent acquisition professionals face when guiding their organization’s future. Now that your company has entered a new year of recruiting, pursuing a scalable hiring strategy will be essential to attracting, hiring, and onboarding quality talent to drive organizational performance and alleviate the pressures from market slowdowns. As you begin to put your hiring programs into practice, remember to keep scalability at the forefront of your strategy. Ask the following questions:

• What must-haves should we focus on in our recruiting process?
• How can we find the right people in a challenging labor market faster?
• Where can we do more with less or the same with less?
• How can we become more efficient while improving outcomes?

The insights available in this article are only a starting point. For more data, key takeaways, and actionable insights, download the full Employ Quarterly Insights Report here.

The post The Top 5 Recruiting Trends for 2023 first appeared on Jobvite.

As recruiters regularly interact with candidates, they experience first-hand what drives candidates to look for new roles and leave their current companies. Let’s dive into what HR decision makers and recruiters perceive as the top motivations for why candidates are seeking new jobs, why employees are leaving their current roles, and the types of positions most likely to encounter challenges along the way. 

The Top Motivations for Job Seekers Finding a New Job Today

Based on Employ’s survey of more than 1,200 HR decision makers and recruiters in November 2022, the top motivation for employees leaving a job is pursuing more money or seeking a more flexible work arrangement. This is followed by seeking career advancement, unemployment or fear of unemployment, and leaving a bad manager or culture. Seeking a new challenge, looking for a more diverse or inclusive work environment, and finding an office to work from regularly comprised just under 15% of all responses. 

• Getting more money: 34.4%
• Ability to work remotely: 21.3%
• Career advancement: 12.6%
• Unemployment or fear of becoming unemployed: 9.6%%
• Leaving a bad manager or bad company culture: 8.5%
• Time for a change or new challenge: 4.2%
• Find a more inclusive / diverse workplace: 4.9%
• Ability to work in an office: 4.7%

Interestingly, unemployment or fear of becoming unemployed was rated by 1 in 10 employees as a top motivator for moving jobs. As talks of recession continue to dominate the hiring landscape, it will remain to be seen whether more employees leave their positions in search of something more stable or stay put in their roles longer than they would have based on economic headwinds. 

The Primary Motivations for Employees Leaving Their Own Company 

When determining specifically why talent leaders and recruiters believe employees are exiting their current organization, the top three responses were similar to the motivations in general for finding a new role:

• Getting more money: 37.1% 
• Ability to work remotely: 18.6% 
• Career advancement: 13.4%

However, more than 1 in 10 HR decision makers believe that current employees are looking for a change or new challenge and just five percent are leaving because of a bad company culture or manager internally. 

• Time for a change or new challenge: 12.4% 
• Leaving bad manager or bad company culture: 5.2% 

Looking for a more inclusive workplace was higher when evaluating why employees were leaving their current company, but the fear of unemployment was almost half of those HR leaders who believe it was a top motivator for finding a new role overall. 

• Find a more inclusive / diverse workplace: 5.1%
• Unemployment or fear of becoming unemployed: 4.2% 
• Ability to work in an office: 4.0%

Candidate Challenges in the Current Hiring Climate

When it comes to challenges for job seekers, experienced professionals may find more difficulty than entry-level candidates in finding the right roles. Employ data shows that 49% of recruiters believe experienced workers have the biggest challenge in finding a job today. By comparison, only 15% of talent professionals said those individuals re-entering the workforce saw the biggest challenges. 

When broken down by industry, the gap becomes more drastic. In fact, 57% of recruiters in the construction industry said experienced workers saw more challenges in finding new roles, while 61% of recruiters filling healthcare roles believe this is true. 

Key Takeaways When It Comes to Understanding Job Seekers 

Connecting with job seekers and understanding their motivations will be more important than ever next year. Take care to invest in the needs of candidates and deliver positive experiences for them. Work to shorten feedback loops, improve communication and collaboration, and engage with applicants more deeply within the hiring process. 

If it is challenging to compete on salary in your company, compete on speed, benefits, and remote work. Ensure you are promoting a diverse workforce, flexible work arrangements, and overall benefits packages to highlight the total rewards package of working at your company. 

If applicable, focus on engaging with gig workers and nurturing relationships with individuals who are in revenue-generating roles. Ensure the hiring process delivers positive experiences that enhance your company’s employer brand. 

Overall, control what you can. Faster recruiting processes and more attractive, hybrid work environments will result in fewer good candidates withdrawing and fewer rejected offers for your talent acquisition function. Most of all, it will help meet your priorities for increasing the quality of candidates and improving overall time to hire in your business. 

Get More Insights on Responding to the Current Labor Market 

Planning during times of uncertainty is one of the biggest challenges companies face when it comes to guiding the future of their organization. As companies prepare for 2023, pursuing a scalable hiring strategy will be essential to attracting, hiring, and onboarding quality talent that will drive organizational performance.

The insights available in this article are only a starting point. For more data, key takeaways, and actionable insights, download the full Employ Quarterly Insights Report here.

The post What Job Seekers Want in 2023 first appeared on Jobvite.

Yet uncertainty with inflation, drastic interest rate increases, high-profile drops in company valuations, and massive rounds of layoffs dominating headlines have many companies looking to reduce operating costs and tighten spending as they move into 2023.

New Insights and Recruiting Data from Employ

The labor market is seeing a pullback relative to early 2022 historical highs. Employ data shows new job listings per month are decreasing across organizations of every size, while the number of average applications submitted per job is increasing. And while 77% of organizations have not reduced hiring plans or implemented hiring freezes in 2022, 51% of HR decision makers are worried that layoffs may hit their organization.

The unpredictability resulting from these conditions makes it difficult for employers to know how they should respond in this difficult talent landscape. From SMBs to large enterprises, companies of every size and recruiting complexity must stay the course and remain resilient as they plan for 2023 and beyond.

Navigating the paradox of both a softening hiring environment and a historically tight labor market makes it difficult for companies to prepare for the coming year. The Q4 Employ Quarterly Insights Report “Recruiting Resilience: Embracing a Scalable Recruiting Function for 2023 & Beyond” explores how employers can remain resilient as they prepare for 2023. This new report features the latest proprietary and market data, offering insights and actionable takeaways to increase adaptability and scalability in the difficult talent landscape.

View the entire collection of data and insights by downloading the Q4 Employ Quarterly Insights Report.

The Employ Quarterly Insights Report provides unique insights and in-depth analysis on hiring trends compiled from employer and job seeker activity across Employ’s 18,000 customers and findings from a survey of more than 1,200 HR decision makers conducted by Zogby Analytics in November 2022. The report offers a detailed look at the current state of recruiting and examines how companies should optimize recruiting efforts during one of the most difficult and demanding environments in history.

A Continued Demand for Hiring

Despite talks of a recession and worries about potential layoffs, most companies have not slowed their hiring efforts. According to Employ data, 88% of HR decision makers believe hiring in 2023 will be more or as difficult as 2022. Many organizations are actually planning on ramping up their hiring in the next year. An astounding 60% of surveyed HR decision makers say that their company is actively planning on making more hires in 2023, with only 8% of organizations saying they anticipate decreasing their hiring efforts in that time.

Recruiter Priorities for 2023

As the new year approaches, organizations are planning recruiting activities for the coming year. Data from the Q4 Employ Quarterly Insights Report shows that 61% of HR leaders are focusing their efforts on enhancing the quality of candidates and applicants they recruit. Organizations are not shying away from the tough fight in the labor market; instead, they’re doubling down to find the best talent.

Aside from the quality of candidates, HR leaders are also rethinking the tools they use to find and engage with candidates. In 2023, 59% of surveyed organizations plan to increase their spending on applicant tracking systems (ATS) to increase greater efficiencies in their hiring process. This is a significant 17-point increase since June 2022. Additionally, 50% of companies have active plans to increase their investment in candidate relationship management (CRM) systems. In 2023, recruiters will leverage these advanced tools to deliver an excellent candidate experience built to engage, hire, and retain the most skilled labor in the market.

Get the Full Q4 Employ Quarterly Insights Report

The insights available in this article are only a starting point. For more data, key takeaways, and actionable insights, download the full report here.

The post How to Embrace a Scalable Recruiting Function for 2023 & Beyond first appeared on Jobvite.

To recognize outstanding executives, we asked CEOs, founders, and leaders in HR this question for their recommendations. From being adaptable to balancing ambition with a touch of realism, there are several attributes to look for when sourcing quality executives for open senior roles.

Here are 15 characteristics these leaders suggest are key indicators for a successful executive:

• The Ability to Anticipate Change
• Thinking as “We” Instead of “Me”
• Self-Awareness Shows Emotional Intelligence
• Look for Someone With Grit
• A Cultural Fit with Mission and Value
• Being Detail-Oriented
• Taking Accountability for Failures
• The Ability to Delegate Effectively
• Self-Learning Is a Superpower
• Staying Positive
• Keeping the Big Picture in Focus
• Possessing a Curious Mind
• Masterful Communication Skills
• Knowing Everyone’s Name
• Balancing Realism With Ambition

The Ability to Anticipate Change

The ability to expect change is one trait I look for in executives as proxies for how likely they are to succeed. The world is changing rapidly, and so is business.

Those who can adapt and create new ideas quickly will be better able to survive and thrive. At the same time, those who are set in their ways and are unwilling to change will probably fall behind or get left behind. 

This ability often requires what the famed investor Howard Marks calls second-level thinking, the ability to look past the obvious and past the consensus to an array of outcomes. The thoughtful executive can assess how likely each outcome is and can plan for it accordingly.

Matthew Ramirez, CEO, Rephrasely

Thinking as “We” Instead of “Me”

When speaking with an executive, you will hear some talk about “we” and others talk about “me” when they discuss wins or projects. No executive is successful alone — they have team members contributing as well. 

If the executive doesn’t acknowledge that (or worse, even know it), then it’s unlikely they’ll be successful for long. Find leaders that recognize and appreciate the people that work for or with them.

Logan Mallory, Vice President of Marketing, Motivosity

Self-Awareness Shows Emotional Intelligence

Being self-aware is a clear sign you understand your strengths and areas where you may need improvement. It makes you more receptive to feedback and fosters a growth mindset, which is essential for any leader.

Beyond that, self-awareness tells me you might be empathetic. Empathy is crucial in the healthcare industry because we want to make clients feel valued and well-treated. A self-aware executive is more likely to propose steps that will benefit our clients and business without sacrificing one for the other. Overall, self-awareness adds another layer of trust to an executive position.

Stephan Baldwin, Founder, Assisted Living Center

Look for Someone With Grit

One of the best traits to look for in an executive is grit. We define grit as “perseverance and passion for long-term goals.” It’s the ability to maintain focus and motivation, even in the face of setbacks or difficulties. 

Individuals with grit are resilient and have a strong sense of determination. They don’t give up easily, and they are constantly striving to improve and reach their goals.

Grit is a critical trait for success in any field, but it’s especially important for leaders. Leaders need to inspire others, even when times are tough. They need to maintain their own motivation and focus, while also supporting and motivating those around them. 

Individuals with grit make influential leaders because they are always looking for ways to improve, and they never give up on their goals. If you’re looking for an executive who is likely to succeed within your organization, look for someone with grit.

Linda Shaffer, Chief People Operations Officer, Checkr

A Cultural Fit with Mission and Values

One trait you look for in an executive that shows they are likely to succeed within the organization is cultural fit. 

After the role requirements are satisfied, the most important thing to do is to make sure the candidate fits culturally with the company’s values and mission as well as with the current leadership.

Every business and every leader is unique. Even though there are parallels, pre-made solutions won’t be effective. Your coach should be open to developing an impressive growth strategy based on your business’ objectives and culture.

The executives heavily influence the culture; hence, this aspect must be emphasized significantly. A misalignment in this area will cost the business astronomical sums of money, time, resources, morale, retention, and execution.

Tiffany Homan, COO, Texas Divorce Laws

Being Detail-Oriented

As an executive in a company, you oversee a lot of the business’s operations. Paying attention to detail is such an important skill for success, especially at the executive level, but also in your personal life.

Executives need to examine the information and decide on changes based on what they find. They can also notice problems quickly and look for solutions to improve the flow of the company. 

It can be overwhelming sometimes in large companies to focus on details, but it remains at the top of the list for the trait most desired when searching for a new executive.

Alex Mastin, CEO & Founder, Home Grounds

Taking Accountability for Failures

I look for leaders who blame themselves, not others, for their failures.

A private equity firm I was working with was interested in hiring a senior candidate. I asked the candidate why he wanted to leave his current role as President of a business only after two years of joining. He responded that while he was aligned with the founder, the rest of the company was not aligned to the growth plans. While this may have been true, the candidate blamed his failure to implement vision on the unwillingness of others to buy into his plan. 

A better response might have been that he failed to convince employees to support his vision. The PE firm passed up on the candidate following my recommendation. The candidate found another job, but I wasn’t surprised to see him looking for yet another role a few years later.

Atta Tarki, Founder & Author, ECA Partners

The Ability to Delegate Effectively

The ability to delegate effectively is an important trait to look for in an executive. Those who can delegate tasks and trust that someone will complete them efficiently are more likely to succeed than those who try to do everything themselves. 

Those who delegate also have a better understanding of their own strengths and weaknesses, which allows them to focus on their own strengths while leaving other tasks to those who are better equipped to handle them. 

Delegation is an important skill for anyone in a leadership position, and it is one that can show success in both the organization and in life.

Erik Pham, CEO, Health Canal

Self-Learning Is a Superpower

Being good with people and networking for business are crucial skills for any executive. 

In recent years, a person’s ability to actively assess their own knowledge gaps, set learning goals, seek out the necessary people and resources to learn from, and continuously apply what they learn is equally important. 

Besides reskilling, self-directed learning reveals highly valuable personal qualities. This mindset acknowledges that you don’t know everything, but are willing to learn in order to succeed. 

In addition, it reveals a person who is willing and able to change, adapting to the demands of their job. This person is less fearful of failure, for example, because, unlike someone who does less proactive self-learning, this person can learn from scratch or can start over whenever they need to.

Jon Torres, CEO, Jon Torres

Staying Positive 

It’s essential for leaders to have a positive attitude, both for their own well-being and for the sake of those they lead. 

A positive outlook can be contagious and inspire others to do their best work. Additionally, when things inevitably go wrong (as they always do), a positive attitude will help a leader stay calm and focused so they can find a solution.

Tzvi Heber, Founder, CEO, & HR Head, Ascendant Detox

Keeping the Big Picture in Focus

An executive who has a big-picture outlook is more likely to succeed within an organization. 

Someone who can see the big picture and how it relates to the organization as a whole will be more successful than someone who is only focused on the details. This is because they will be better able to see how their decisions will impact the organization as a whole rather than just one area of it.

A big-picture outlook also means that they can see the long-term implications of their decisions rather than just short-term ones. This can be important in areas such as marketing, where decisions made today can have long-term effects on the success of the company. 

Someone who can see the big picture will be better able to make decisions that will be best for the company in the long run.

Luciano Colos, Founder & CEO, PitchGrade

Possessing a Curious Mind

Executives with a curious mind are likely to succeed not just in their career, but also in life. 

It is so because people often link curiosity to creativity, which is exactly what’s needed when successfully leading an organization. Curious people are not afraid to try new things and are brave enough to break the norm, allowing them to discover ground-breaking things and make big achievements in life.

For curious executives, failure is not the end of their careers. With every mistake they make, they become more knowledgeable and wise in making decisions. Failure challenges them to become the best version of themselves and teaches them to be flexible amidst every obstacle they face.

Sam Tabak, Board Member, RMBH Charities

Masterful Communication Skills

Effective communication is one of the most important traits for any leader, particularly in today’s world. Great communicators inspire people. They create a connection with their followers that is real, emotional, and personal — even if they’re not physically present with them. 

Effective communication requires the ability to connect with others on a deep level. It requires being able to understand why they do what they do and why they think what they think. It means knowing how to use your voice effectively so that you can communicate clearly and powerfully with others. 

It also means knowing how to listen — really listen — so that you can hear what your audience wants from you and deliver it to make them feel heard, understood, and valued.

Sandeep Bhandari, Co-Founder, Askanydifference

Knowing Everyone’s Name

When an executive knows the name of everyone in the office, including the maintenance staff, that’s a signal that they will be successful in their role. 

It shows that they are invested, not only in the business but in the people as well. Someone like that is respected within an organization and people are more likely to push for an executive like this to succeed.

Jarir Mallah, HR Specialist, Ling App

Balancing Realism With Ambition

There are many traits that can indicate an executive is likely to be successful within an organization, but some of the most important ones are realism, ambition, and creativity.

Executives who can maintain a realistic perspective on their business and its challenges are more likely to be successful in the long run.

Ambition is also key, as executives who want to achieve great things for their company are more likely to put in the extra effort needed to succeed.

Finally, creativity is essential in any industry, and executives who are able to think outside the box and come up with new ideas will be more successful than those who stick to the status quo.

Jamie Irwin, Director, Straight Up Search

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The post HR Leaders Say Executives with These 15 Traits Are Most Likely to Succeed first appeared on Jobvite.

While there are benefits to both, employers must determine which approach and technology stack will best meet their needs. In a recent IDC Analyst Brief, Matthew Merker, Research Manager, Talent Acquisition and Strategy, IDC, provided his perspectives on the push and pull of talent acquisition specialist suites and human capital management/talent management suites.

The IDC Analyst Brief, sponsored by Jobvite, Enhancing Agility and Speeding Innovation Through Talent Acquisition Specialist Suites, focuses on talent acquisition ecosystem dynamics, benefits of TA specialist solutions, additional considerations organizations should recognize, and key trends that impact the recruiting space.

Here are some of the key takeaways from this analyst brief:

• 61% of organizations have adopted new talent acquisition solutions in the past year, while 14% replaced existing solutions.
• Human capital management/talent management suites and talent acquisition specialist suites each approach the market with unique differentiators.
• The pace of innovation, flexibility, and scalability are benefits to organizations that select talent acquisition specialist suites.

“According to a recent IDC Analyst Brief, sponsored by Jobvite, 61% of organizations have adopted new talent acquisition solutions in the past year, while 14% replaced existing solutions” -jJobvite

Read an Excerpt from the IDC Analyst Brief

Below is a passage from that analyst brief that highlights the context in which talent technology exists today:

The talent acquisition (TA) technology ecosystem is crowded with new vendors frequently appearing, offering niche capabilities to complement existing recruiting technology suites. Point solutions provided by emerging vendors often offer capabilities that address tactical areas of the hiring life cycle. These capabilities may include onboarding tools, internal mobility platforms, recruitment marketing, candidate relationship management, and interview solutions.

While competition encourages innovation within the ecosystem, the continued emergence of new vendors increases the complexity of the market and ultimately the burden of choice for buyers in understanding the ideal tech stack for their talent acquisition needs weighed against their organization’s tolerance for multiple vendors and contracts.

The continued development of holistic talent acquisition suites, either from vendors that specialize in the field or from vendors that offer talent acquisition as part of a broader human capital management (HCM) capability, adds to buyer consternation on selection. There are advantages to both avenues, but buyers must consider their own unique needs when making a purchasing decision.

Get a Free Copy of the IDC Analyst Brief: Enhancing Agility and Speeding Innovation Through Talent Acquisition Specialist Suites

As recruiting moves into a strategic imperative for organizations, companies should be aware that the push and pull of TA specialist suites and HCM providers will continue. Matthew Merker concludes that, “while the all-in-one employee life-cycle solution set from HCM/TMS providers is a strong value proposition, TA specialist suites’ high degree of innovation and agility provides a compelling counter to organizations with particular interest in elevating recruiters to talent advisors while remaining ahead of the curve in future proofing the workforce.” Ultimately, it is essential that organizations determine the strategy that best elevates talent acquisition within their company and helps them compete in a tight labor market for both the short- and long-term.

View the full perspective from Matthew Merker and get more insights when you access your own copy of the IDC Analyst Brief today.

The post IDC Analyst Perspective: HCM Suites Versus Talent Acquisition Specialist Suites first appeared on Jobvite.

With millions of available jobs and talent seeking roles that better align with their own requirements, today’s job seekers are leveraging their upper hand to secure new jobs, higher wages, and better benefits. Simply, workers are making it clear they want more from employers — and they feel empowered to ask for it. 

So what can organizations do to improve their ability to attract and hire top talent? The answer lies with the candidate experience. Let’s take a look at what the candidate experience entails and then dive into four pieces of data that will inspire your organization to improve the experience for candidates from first look to first day.

What Is the Candidate Experience?

Candidate experience includes feelings, impressions, interactions, and activities a job seeker encounters and considers along their candidate journey. It’s how a job seeker feels they’ve been treated throughout the recruitment process, and how that treatment makes them feel about the employer. Whether positive or negative, they all contribute to the candidate experience.

The candidate experience can include:

• Your job advertisements
• Your company website or job listings
• Responding to your job board postings or advertisements
• The ease and requirements of the application process
• Communication from you, your team or your recruitment technology
• Your interview process, whether in-person or via video conference
• Notifications about the candidate’s application status
• Ongoing communication with your HR team, department managers, etc.
• Candidate rejection letter or job offer

Candidate experience is really a reflection on the recruiting team and the company they represent. Unfortunately, as research by Talent Board reveals, only one in four job seekers rate their candidate experience as having been “great.”

At its core, candidate experience should be focused on creating positive feelings and impressions in job seekers. Whether it’s making them feel welcomed and valued during the application process, providing helpful feedback or communication throughout the recruitment process, or treating them with professionalism and respect after their candidacy has ended, candidate experience encompasses every interaction a candidate has with an employer.

And while negative candidate experiences are often easy to spot — such as long wait times for responses, inconsistent communication or even outright rudeness — it’s important to recognize how even positive interactions can have a significant impact on how job seekers feel about your company — and whether they want to pursue future opportunities there.

What the Latest Data Is Telling Employers

#1: The Labor Market Favors Candidates

According to the U.S. Bureau of Labor Statistics, on the last business day in March 2022, there were 11.5 million job openings, the highest ever recorded in history. But during the same time period, the number of hires was just 6.7 million. Factor in that more than 4.5 million workers quit their jobs, and the gap seems even more difficult to overcome. Organizations in the retail sector and durable goods manufacturing each added jobs, making it even more important to ensure focus is placed on finding candidates quickly for high-volume roles and for skilled labor. Clearly, as the scale tips toward job seekers in the hiring market, organizations of all sizes must be aware of the macro trends at play. Employers coming to terms with these changing dynamics are having to re-examine how they treat candidates and nurture them throughout the hiring process.

#2: Worker Confidence Is At an All-Time High

Right now, workers are extremely confident they can easily find new jobs and are not looking at their current organization for new openings. The 2022 Job Seeker Nation Report indicates that 45% of surveyed workers are actively looking for a new job or plan to within the next year and more than one in two believe it’s easier to find a job this year than in the previous year. Further, one in three workers feel comfortable quitting their job now without having another job lined up. Companies must double-down on the candidate experience, ensuring they are highly responsive, communicative, and make fast hiring decisions on talent.

#3: Candidates Want a Great Hiring Experience

When it comes to creating a positive candidate experience, job seekers are particular. They are looking for easy to schedule interviews (52%), a fast application process (51%), outstanding communication, feedback, and prompt follow-ups (47%), personal conversations during the interview (34%), and a great explanation of company values, vision, mission and culture (23%), based on the latest Job Seeker Nation Report. While it may seem basic, getting these foundational items correct is the cornerstone of creating an experience that candidates will not only remember, but also favor. And that means your company will be more competitive in hiring talent in a difficult market.

#4: Job Seekers Have Specific Demands in Accepting Job Offers

The ultimate goal of building a positive candidate experience is to nurture job seekers throughout the recruiting process and to get them to the offer and acceptance stage. But what are candidates really expecting when it comes to accepting an offer? The latest data provide insight into areas that most influence candidate likelihood of accepting an offer. Specifically, the Job Seeker Nation Report reveals that 53% of candidates this year are looking for overall compensation as their top factor in accepting a new position. This is followed by work/life balance (30%), company location (29%), company values and culture (23%), healthcare and other benefits (23%), quality of work (22%), and job security (22%).

Time to Refocus on the Candidate Experience 

Now that you’ve had a chance to take in some of the latest insights and data on the candidate experience, take time to rethink how you are approaching the talent journey for candidates in your organization. Have compassion for job seekers, and remember, the job search can be a frustrating and stressful experience, particularly when employers are non-responsive.

Prioritize using recruiting automation to enhance your hiring efforts. Above all, make sure you regard the candidate experience holistically. Recognize that each touchpoint contributes to how candidates perceive your organization — and in turn — how you show candidates you value them.

Stay current on the latest trends in talent today when you subscribe to our blog. Or check out our resource library to find more tools that will help you build a more nurturing and supportive candidate experience.

The post Four Data Insights to Get Your Company Focused on the Candidate Experience first appeared on Jobvite.

What Are the Most Pressing Macroeconomics Challenges for Talent Acquisition?

On the macroeconomic front, most discussions revolved around tight labor supply and a disbelief over candidate salary requests. It doesn’t take a Ph.D. in economics to understand that in this tight labor market, candidates can, and are, requesting what feels like a king’s ransom.

So how did we get here? For the past six months, Fed-reported job openings are at or near all-time highs, while labor force participation rates have yet to recover to pre-Covid levels. This means the demand for labor has never been greater and the supply of labor is below where it was just a couple years ago. Lower labor force participation isn’t solely a Covid-driven event as labor force participation has steadily declined over the past 20 years.

The imbalance in the supply and demand for labor has led to larger salary requests and talent leaders are asking, “should I pay a king’s ransom to hire?”. Given the past 20, 30, 40 years of sanguine wage increases, it’s understandable that a 20% wage increase feels high.  However, it’s important to understand how inflation changes the math on the attractiveness of a 10% salary bump.

Price inflation in February 2022 was running at nearly 8% — 7.9% to be precise. This means that a dollar in February 2021 had the purchasing power of just $0.92 in 2022. Doing some easy math, let’s say a candidate is looking for a 10% increase in salary to make a move. Not accounting for inflation, a 10% salary bump provides only a 2% increase in their real income.  When accounting for inflation, that candidate may now be asking for a 18% increase over what they were making in 2021.

While a 20% increase may feel like a large amount to employers, from the candidate’s perspective, it’s a little over a 10% bump in their purchasing power. So, what does this mean to your business? Should you pay up for new talent? If inflation continues to run high, and your business has the ability to adjust prices, there is less risk in meeting these wage demands. Why? Because inflation will erode the power of these wage increases. Second, your business will pass along the increased labor costs.

The next question I am repeatedly asked is, “will inflation continue, or will I be caught holding a bag of expensive salary increases?” Let me start by saying that I can’t see the future, nor do I own a the proverbial crystal ball. That said, zooming out and looking at what’s transpiring across many sectors, general inflation is noticeable across many segments of the economy.  Whether you focus on labor or raw materials or sectors like housing, food, services, apparel, and transportation, price increases are occurring pretty much everywhere right now.

Furthermore, these price increases are expected to continue. The March London-based ICE Benchmark Administration (IBA) found expected one year price inflation to top 5%, compared to 3.5% in February.

Inflation and consumer expectations are a big ship, and it takes time to turn big ships. With prices ratcheting up across many areas of the economy, coupled with expectations that tomorrow’s prices will be higher, I believe inflation will be with us for the short-term, and, therefore, moderate the impact of today’s wage increases.

Next, What Are the Primary People Challenges in Talent Acquisition?

Switching gears, the second most discussed topic at the Meeting of the Minds event was focused on people. People challenges came in one of two flavors: inexperienced hiring managers and a lack of recruiters.

While business news highlights the 3 to 4% turnover rate, savvy recruiters and HR professionals focus on how newly minted managers impact the ability to attract new talent. It’s fantastic that turnover has created the opportunity for many to take on new roles as hiring managers. However, many new managers lack experience in hiring.

New managers can create a DE&I nightmare from a lack of awareness over legal boundaries during innocent conversations about things like kids, marital status, gender, race, religion, and other areas. Make sure your hiring managers are aware of off-limit topics, run your job descriptions through tools like Jobvite’s Job Description Grader, and have access to tools such as Bias Blocker to protect both new managers and your business.

The 2022 Job Seeker Nation Report found that while money is the top reason candidates look for new jobs, improving the candidate experience and increasing the speed to offer are perhaps the best levers recruiters have in appealing to candidates in a tight labor market.

It’s critical that new hiring managers understand the hiring process and expectations on timelines. Don’t forget that new managers may also present an opportunity to identify legacy, often unnecessary steps or lend insight into job requirements. Finally, with some candidates leaving new jobs in the first 90 days, according to the Job Seeker Nation Report, it is more important than ever to make sure new managers understand how to effectively onboard new hires.

This year, it is also important to recognize recruiters are just as much the hunted as the hunter. This means most talent and HR organizations are faced with:

• Doing more with less
• Focusing on ways to improve recruiter experiences alongside candidate experiences
• Struggling to attract enough talent and keeping their existing talent

Talent organizations recognize that success depends on doing more with less. And successful organizations are doubling down on automation and AI to add speed to the process and improve recruiter experience. Specifically, we see recruiters gravitating toward tools like Intelligent Messaging, automated scheduling, Zero-Click Intelligent Sourcing, and career site chatbots that improve both recruiter and candidate experiences.

Focus On What You Can Control and Find Out Where to Improve

In summary, I would encourage talent teams to control what they can. First, don’t be consumed with predicting what tomorrow’s macroeconomic picture will look like. Focus on what it will take to succeed in today’s environment and have a contingency plan if things change.

Second, ask yourself how can your organization improve recruiter, hiring manager, and candidate experiences? I would encourage every organization to complete the free, online Evolve Talent Acquisition Framework Assessment. It takes just 10 minutes and will help you assess, prioritize, and take action to optimize your talent acquisition efforts. Because knowing where your organization can improve experiences is the first step in getting better.

Looking for more information on how talent teams are transforming the recruiting experience? Take time to watch our latest webinar on The Talent Acquisition Experience Trifecta to learn how you can prioritize the candidate, recruiter, and hiring manager experience. Or subscribe to the Jobvite Blog and Resource Library for the latest in recruiting technology and strategy.

The post Anecdotal to Action: Today’s Biggest Talent Challenges and How to Solve Them first appeared on Jobvite.

With millions of available jobs in the U.S. and talent seeking roles that better align with their own requirements, workers are making it clear they want more from employers — and they feel empowered to ask for it. Today’s job seekers are leveraging their upper hand to secure new jobs, higher wages, and better benefits.

The job market shift has left many organizations struggling to engage and retain top talent. The 2022 Job Seeker Nation Report will help recruiters and employers understand how to adapt to the current reality of talent acquisition to remain competitive in today’s labor market.

About the Job Seeker Nation Report

For the last 13 years, the Job Seeker Nation Report has surveyed and examined the responses of workers to understand their preferences and experiences within the labor market. This year, Employ, the parent company of Jobvite, JazzHR, and NXTThing RPO, is excited to provide insights and key takeaways about job seekers within the most difficult hiring environment in history. Let’s dig into a few of the biggest findings from this year’s report.

State of the job market

While 62% of workers are satisfied with their jobs, many employees report having one foot in and one foot out of their organizations.

• 45% are actively looking for a new job or plan to within the next year
• 32% feel comfortable quitting a job without having another lined up
• 30% have left a job within the first 90 days of starting
• 23% have changed industries since the onset of the pandemic

Given the tight labor market, companies must prioritize internal mobility, as 54% of workers who are actively looking for a job have not looked at their current company for a new position.

Organizational turnover

The confidence among workers’ job prospects has left many workers dealing with the negative impact of high organizational turnover.

• 40% have experienced high employee turnover at their organization over the past year
• 40% also report their own workload increasing due to high employee turnover
• 56% of workers who experienced high employee turnover did not receive an increase in payment or salary to compensate for the workload increase

This organizational turnover has also led to an increase in stress levels and feelings of burnout in 78% of workers. However, the number of employers offering mental health benefits and resources is at the lowest level in the past three years.

Money and compensation

Only 37% of workers feel they are paid fairly, so employers who fall short on compensation expectations may see an increase in turnover or candidate rejection. 

• 67% want higher compensation from their employer today
• 38% selected compensation as the top reason for leaving a job in the past year

Workers who are comfortable negotiating salaries (71%) and asking for raises (63%) is also at an all-time high. However, 35% of workers who were denied a raise request left the job because of it, and nearly half of workers believe they could make more money by simply switching jobs.

Remote work

As companies evaluate return to workplace plans, remote work opportunities continue to be important to workers.

• 65% said remote work is important in their decision to accept or reject a job
• 40% would be willing to accept a lower salary to work remotely
• 30% said their ideal work situation/set up is 100% remote

Even with an increased desire among job seekers to work remotely, company culture remains critical.

• 52% believe that, in an increasingly remote work environment, company culture is just as important as ever
• 55% said they would leave a new job if the culture was not aligned with their expectations or values

Download the Full Report for More Insights

These are just a few takeaways from the 2022 Job Seeker Nation Report. Get a copy of the report today for hundreds of additional findings and insights that will help talent acquisition professionals and employers understand how to adjust to this employee-driven job market.

The post 2022 Job Seeker Nation: Key Insights Into What Workers Actually Want first appeared on Jobvite.