The global candidate shortage
A lack of talented candidates and low unemployment has changed the game
Recruitment marketing is the new normal
It's estimated that there will be a global shortage of 85 million candidates by 2030. This could result in about $8.5 trillion in unrealized revenues.
While for years we've been hearing about a tough talent market, this year, we've reached a tipping point
Matt Singer, VP of Marketing, Jobvite
The labor market is strong and candidates have many opportunities to choose from. A survey of 800 recruiters found that 74% believe hiring will become more competitive. A majority of respondents (67%) said their biggest challenge of the year was the lack of skilled, high-quality candidates.
of HR professionals agree that recruitment is becoming a lot like marketing
"While for years we've been hearing about a tough talent market, this year, we've reached a tipping point", said Matt Singer, VP of Marketing at Jobvite. "With more open jobs than people to fill them and the market at near full employment, recruiters are finding new ways to reach candidates where they are."
According to Gartner, 86% of HR professionals agree that recruitment is becoming a lot like marketing. And this is being echoed financially. 70% of companies are planning to invest in recruitment marketing over the next 12 months.
The evolving role of the recruiter
With these changing conditions, recruitment marketing is becoming a necessity. As unemployment continues to decline, recruiters have to learn how to market themselves and their roles if they want to maintain their competitive edge.
"Companies are making investments in this area," said Amy Warner, director of talent acquisition at recruitment software company iCIMS. "Employers are creating new roles dedicated to recruitment marketing in order to effectively promote their culture and values and attract well-fit candidates, because recruiting is harder than ever before."
Recruiters without recruitment marketing skills are not only less effective in their roles, but they may soon become obsolete, said Lori Sylvia, founder and CEO of Rally Recruitment Marketing, an online community of 14,000 HR and talent acquisition practitioners learning recruitment marketing best practices. "The candidate journey is influenced at every stage by marketing strategies—search engine optimization, landing page conversion optimization, digital marketing, content marketing, social media engagement, reputation management," she said. "Recruiters that fall behind in using digital and social strategies are going to get left behind, not to mention put their employers at a huge disadvantage in the competition for talent."
Recruiters that fall behind in using digital and social strategies are going to get left behind
Lori Sylvia, founder and CEO of Rally Recruitment Marketing
In this guide:
Start thinking of your candidates in terms of their journey to employment.
Software specifically for recruiters to manage and track every communication.
How creating content can build your reputation and attract inbound candidates.
Use data analytics to monitor how engaged your candidates really are.
Communicate with potentially thousands of applicants with help from a chatbot.
Get buy-in from the decision-makers in your business.
5. Use chatbots
Let technology help with the heavy-lifting
How recruitment chatbots can help you
Experts at Business Insider found that 80% of businesses want chatbots by 2020. Marketers can use them for top-of-the-funnel communications, making sure everyone who has a question can get instant answers at any time. This improves their capacity to engage customers while slashing labor costs. Public Tableau found that 29% of customer service positions in the US could be automated. This translates to an estimated $23 billion in savings from annual salaries.
of candidates never hear back from a company after one touchpoint
Recruiters and talent acquisition teams could see similar benefits from using a chatbot. It's challenging to communicate well with all of your candidates. For high volume recruiting, this could mean communicating with thousands of candidates, on top of all your other duties. In fact, Workopolis found that 43% of candidates never hear back from a company after one touchpoint.
What is a recruitment chatbot?
A chatbot is an AI software application you can use with email, SMS, social media, etc. It can mimic a person's conversational abilities to respond to real questions.
1. Help with administrative tasks
Your chatbot can collect information from potentially thousands of candidates at the same time. Whether it's collecting contact information, answering FAQs about the application process, screening candidates for experience, or scheduling interviews, your chatbot can take care of the brunt of your administrative duties.
Chatbots make sure everyone is heard
2. Save you time and money
According to SHRM, the average cost of hire is $4,129 and the average time to hire is 42 days. Since chatbots can automate up to 80% of top-of-funnel recruiting activities, they can quickly screen out unqualified candidates so human recruiters can focus on highly interested and talented candidates.
3. Keep all applicants happy
It's estimated that 65% of applications for a role are ignored. Recruiters don't have the time to interact with every single person. Chatbots make sure everyone is heard. This won't replace the human aspects of recruiting, but 82% of job seekers think the ideal recruiter interaction is a mix of innovative technology and personal, human interaction.