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August 10, 2022
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The biggest difficulty for many HR managers and recruiters throughout the world is finding IT talent, and it’s going to get increasingly harder. The number of IT jobs available is anticipated to rise significantly in the upcoming years. The number of skilled developers will also decline at the same time; by 2030, there will be a global shortage of more than 85 million IT employees!
As a result, preparing is more important than ever. Reverse recruitment is a proactive approach for businesses, even those with a strong pipeline of applicants, to enhance their recruitment tactics and stay competitive. We’ve outlined the most crucial performance indicators in tech recruiting that you should pay attention to, along with information on how to assess them and use reverse recruitment to enhance them.
Reverse recruitment: what is it?
Reverse recruitment, as the name implies, is a hiring strategy in which candidates apply to firms rather than the other way around, thus turning the recruiting process in the reverse direction. Reverse recruitment is often used on a website like Hire Tech Talent and is most frequently used in the recruitment of tech professionals because of the shortage of tech talent.
Developers are screened beforehand to understand their intentions and feeling of urgency and to minimize unresponsiveness, which is a typical challenge when finding developers yourself. This recruitment technique works for companies. How often have you found the ideal employee on LinkedIn, written them a personalized message, and had them mark it as read? Developers are tired of these messages since they get them frequently throughout the day, frequently for positions that they feel don’t fit what they’re searching for.
The majority of developers choose these sites over other methods because reverse recruitment places the developer in the spotlight by allowing businesses to apply to them.
Reverse Recruiting: What Are the Benefits?
Many benefits come with reverse recruiting, including enhanced candidate skill sets, decreased candidate competition, and candidate diversity.
- Skill Sets- Employers may engage with job seekers who share or recognize their biggest asset, their talents, through reverse recruitment. Employers may match the needed credentials to the position early in the recruiting process by being aware of the candidate’s talents in advance.
- Fewer competitors- In the reverse recruitment process, your candidate pool comprises people who are probably not looking for work right now. Because of this, there is less competition for possible candidates because they are not actively applying elsewhere.
- Diversity- Because reverse recruitment is a novel concept, you are more likely to find prospects than you normally would, resulting in a more diversified candidate pool.
What’s the Process of Reverse Recruiting?
Reverse recruitment might be challenging. You should consider your target market, corporate brand, and the specifics of your outreach campaign for possible applicants. Below, we’ll go through each of these elements.
Note that the recruitment procedure has been flipped around. The candidate has not submitted an application for employment with your company. Early on in the reverse recruiting process, it’s critical to determine the requisite skill set, experience, remuneration, and perks of the available position so you can explain why the prospect should consider your company.
Your company may attract candidates more easily and cut expenses associated with hiring and marketing by developing a strong employer brand. In reverse recruitment, your brand is crucial. Potential new hires can learn about you as an employer via your brand.
Jobs and talent are always difficult to fill. It is what some HR experts have referred to as the talent war. Review and update the hiring plan for your internal organization. Consider what is and is not working. To make the available position an appealing alternative, take into account your prospects’ requirements and goals and tailor your message to them.
Reverse recruitment metrics to measure success
You can evaluate if your hiring procedure is as efficient as feasible by measuring its success. You may use a variety of measures, such as time-to-fill, cost-per-hire, and candidate count, to determine the success of your reverse recruitment approach.
The duration of time it takes to fill a post is gauged by this statistic. Typically, the time span being measured is the interval between the job request and the offer provided to the candidate.
You may use this indicator to assess how long the hiring process is taking.
1. Choose the time when you will start measuring (e.g. job posted)
2. Specify the time at which you will stop timing yourself (typically the day the candidate accepts the offer)
The Hire Tech Talent platform reports an average time-to-fill of 15 days.
This indicator calculates the expense related to the activities of sourcing, hiring, and staffing. It is a ratio between the entire amount spent (on both internal and external expenditures) and the total number of hires over a certain time frame. It captures the total amount of money spent on your company’s reverse recruiting process and calculates the cost of hiring new staff.
- Use the formula below to calculate:
CPH= (Internal Recruiting Costs + External Recruiting Cost) ÷ Total number of hires
- The Number of Candidates:
The amount that each of your sourcing channels—such as job boards, recruitment advertisements, sourcing tools, professional social networks, etc.—contributes to your candidate pool is what LinkedIn Talent Solutions refers to as sourcing channel effectiveness measurements.
You can find out which platforms are producing great candidates and how many candidates each platform is producing by utilizing this statistic.
1. Determine which approach is creating the most candidates by counting the number of candidates produced within a specific time period and comparing the results to each platform.
2. Next, total each candidate’s quality throughout the same time period. Set the bar for excellence against which success will be evaluated.
It goes without saying that hiring exceptional tech talent has more challenges than hiring talent in other fields, and as the need for tech talent grows internationally, every organization should concentrate on improving its tech recruitment metrics.
Reverse recruitment is the way to go whether your aim is to shorten the time it takes to fill a position, improve the number of quality candidates, or cut costs. Fascinated to know? Register with Hire Tech Talent then!
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