Making HR a Hero through HCM Analytics

Drive Organizational Productivity with 2015 Recruiting Trends

When running a business, talent acquisition becomes a highly important task. In 2015, this can be a deciding factor for your business. According to LinkedIn’s viewpoint, businesses will need to have budgets larger than previous ones and they will need to hire more through 2015.

According to the 2015 Association for Financial Professionals Business Outlook, 49% of financial companies pointed anticipate an increase in recruitment through 2015. While businesses now will lean towards hiring more, they must be mindful of the following trends.

  • Focus on Retention

Nothing beats focusing on retention because it will save time and money apart from many other things. Your current staff has already absorbed time learning and improving your organization. Based on the fact that employees typically resign in order to explore new opportunities with better pay in an improved economy, your focus must be on figuring out new ways through which you can retain them while recruiting new talent.

Employers must try to uncover why some employees leave regular work in order to work through Odesk and other freelancing websites. By understanding more about employees’ habits, they can modify or improve their workplace.

  • Offer more Competitive wages

According to Michigan State University, 5,700 employers surveyed37 % stated that they intend to raise salaries of entry-level employees by 3% to 5 %in 2015. The reason for this: compensation ranks high as one of the reasons for job satisfaction. It’s therefore a good idea to do some market research and how much your competitors are paying their employees. You can use this information for formulating a budget to pay employees better wages.

  • Develop a compelling Employer brand

Building an employer brand is a brilliant idea. Although it takes time, once you develop your reputation as an employer, you will find it easier to find and hire people. This requires some effort in terms of putting together attractive offers including an attractive pay.

56% of 4,125 global talent leaders were surveyed for LinkedIn’s 2015 Global Recruiting Trends spanning 31 countries, and these leaders say that developing an employer brand received their utmost focus.

  • Prepare for the gig workforce

Using freelancers can fill in the employment gap. Based on figures from a study on freelancers in the US by Freelancers Union and ElanceODesk, where 5,000 American freelancers were surveyed, 34 % of the U.S. workforce comprises freelancers. Employers can leverage these freelancers and sign contracts with them in time to come.

Apart from the trends pointed out above, there are probably other significant ones as well. Based on new technically such as mobile usage, you can expect newer approaches in recruitment. Mobile application usage too is already playing a role, and forms a part of recruitment strategies.

Understand more about how you can drive organizational productivity by leveraging Performance monitoring appraisals and talent management systems. Get a free demo today to learn more about this.