My good friend Matthew Jeffery postulated in his last post over at ERE that although most Recruitment firms have not even begun the transition to Recruitment 3.0 there is an increasingly technology driven migration to a newer model of Recruitment 4.0 so for the moment let’s recap what Mr. Jeffery postulated in his last two posts would be the core components of these two movements:
Recruitment 3.0 is a huge leap as it moves recruitment out of its comfort zone. The beating heart of 3.0 is the non-active/passive individual and a focus on “best talent” and building predictable talent pipelines. In addition, the philosophy of “everyone is a potential candidate so engage them” is central. 3.0 takes us into building engaged, two-way, free-conversation based, transparent communities. This is anchored by things like employment branding, marketing, and PR. 3.0 is not only concerned with building communities but mapping key competitors and seducing cream-of-the-crop talent with your brand and in-house opportunities.
- Recruitment transitions from being a “cost center” into a “profit center”’!
- The collapse and insolvency of many recruitment agencies.
- Job boards stuttering and collapsing … and repurposing themselves
- Companies hiring “through the sky” through external referrals and crowdsourcing
- Exclusive/VIP/premium paid in-community content and paid mobile apps
- Gamification shapes recruiting strategies and generates stickiness and virality
- Companies rated globally by crowd opinions
In this article I would postulate that there is a evidentiary movement towards a further evolution in Recruitment beyond that presented to us by Mr. Jeffery. I’ll call it in true development terms Recruitment 4.1 (Revised).
The elevate talent network where you are reading this article is a good example of the theory that talent acquisition will be moving towards an Exclusive/VIP/ community content, shortly when you join the community you will be given exclusive access to content not found here on the main blog site. And we are already seeing Job Boards move more and more to change their business model to more job aggregators with paid traffic enhancements taking advantage of the fundamental change in job seeking habits of going to Search Engines for their job search as opposed to the more traditional job board destination sites.
So where is Recruitment 4.1 Revised heading you ask?
I believe the big part of the puzzle that is missing from Mr. Jeffery’s models are as follows:
- Recruitment turned Marketing
- Big Data Analytics on Source of Hire that make sense
- Integrated Engagement
Recruitment Turned Marketing:
For many years Marketers have understood the fundamental worth of conversion when it comes to marketing spend and campaigns. This can take the form of persuasive design campaigns or better UI interfaces or comprehensive and targeted message mapping. Whatever your flavour of marketing the conversion rates are the holy grail and ROI measurement of Marketers. Recruitment is just getting to the point where it can start to understand the points of conversion and measure that against the success of a particular recruitment channel. I believe our most treasured measure of the hire is not going away but we will start to measure all the steps that lead to a hire and figure what the drop offs mean at each of those steps and how to optimize our conversion rates. It will be a slow climb but one that Recruitment companies and internal recruitment structures will have to start investing in.
Big Data Analytics on Source of Hire:
Big Data Analytics may seem like a huge HR buzzword however it has real value and follows from the conversion data I talked about above. Today as a modern Recruitment Organization we have data housed in a number of different places such as the ATS, CRM, Career Site, and multiple talent attraction channels. As we move towards more of a PPC model of Recruitment Advertising that will make it even more difficult to measure and manage the effectiveness of our Recruitment spend. With multiple tools and technologies on the market to get a true picture of what’s working and what is not Recruitment needs to start investing strongly in pulling those multiple data sources together so they can track a potential hires progression through the various recruitment channels and determine the best way to optimize their investment while enhancing the candidate experience. However, with too much data comes some measure of danger if you don’t know how to read or action the data, thus I believe we will see the rise of the Recruitment Data Analyst (a role today that only exists in a few organizations) to help measure and action the data coming in through these various sources. At the end of the day the data should tell us the story of the candidate/prospect progression through our various channels from womb to tomb.
Every company has been talking about employee and candidate engagement for quite some time now, so this isn’t a new concept. However, today most engagement is still viewed as a one way conversation with the candidate and is often actioned via email campaigns and the like. The measure of success for these campaigns is opens and click through’s however, they don’t give us a great insight into the candidates and frankly they don’t tell us how they are viewing our Employment Brand. I believe the next evolution of this is an integrated engagement experience between candidates, brands and employees. The ROI metrics on this will be levels of engagement as well as candidate readiness/fit for a role within your organization and the obvious benefits will be to turn your candidates into your brand ambassadors even if they don’t have a role currently within your organization. As well when you do hire these folks there will be a shorter on-boarding time and better retention because they are already known by your employees and they already love your brand. In a world where culture fit is beginning to eclipse skills fit this type of approach only makes sense.
Again, are organizations at this point yet, well no, but if we gaze through the looking glass taking into account trends in other parts of the business I fully believe this is the direction we are heading. Let me know if you agree as well and thanks for reading.