HR Blog: A Digital Recruitment Strategy to Prepare you for Business Recovery
Digital recruitment strategy prepares companies for business recovery
The coronavirus pandemic did not just wreak havoc on the health and lives of people worldwide; it also severely damaged the economy. In the United States, according to the BBC, unemployment grew from 3.7 percent to over 10 percent.
A 10 percent unemployment rate is a red flag. People lost their jobs, which directly affected their spending; those who did not will save their money for security. No spending means no income for the business, which results in more unemployment. It’s a vicious cycle that translates to fiscal loss.
Competing for top tier talents in the new normal
The Proceedings of the National Academy of Sciences estimates that 43 percent of companies temporarily or permanently closed due to the pandemic. Large enterprises with the capital or credit rating to keep operating will still absorb millions of dollars in losses. Some of them would mitigate these losses by retrenching employees.
However, some companies thrive in such an environment, such as Amazon and Netflix. According to Forbes, Netflix even took it a step further by hiring 2,000 remote workers to expand its customer service operations to support its subscriber base’s boom due to the lockdown.
Similar businesses that experienced growth due to the lockdown are presented with the same opportunity. There currently exists a large pool of experienced talent willing to work remotely worldwide.
It begs the question, why would any company want to expand its workforce in such an unstable environment? In any business, a talented worker either makes money or saves costs more than what their employer is paying them. A large pool of such talent is a big opportunity that rarely presents itself. The same way any business is willing to risk capital expanding into a new market or new products; it should have the same mindset when acquiring talent.
It’s all about setting a digital strategy and entice them to apply their skills to help your company.
Benefits of digitizing your workplace and telecommuting
The new normal created by the coronavirus pandemic increased the number of remote workers worldwide. Global Workplace Analytics predicts that there will be a sharp sustainable growth of telecommuting employees as high as 25-30 percent of all workers by the end of 2021.
There are known benefits of working online. Forbes gives us the numbers of the most notable benefits.
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Productivity — Digital teams have recorded an increase of 35-40 percent level in productivity compared to their onsite counterparts. Performance — Interestingly, 40 percent of remote workers have shown higher-quality of output.
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Engagement — About 41 percent of telecommuters are less prone to absenteeism.
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Retention — 54% of employees have stated on the record that they prefer jobs that offer more flexibility through telecommuting.
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Profitability — Remote work actually annually saves companies an average of $11,000 per employee.
Attracting digital talents should be a priority for any company’s Human Resources department. They do not need to be in the local area where your business operates. They can be halfway across the globe and still use their skills to contribute to your organization. The last big question left is how to attract top talent using digital strategies.
Create and share relevant content
Regardless of their position, top talents know how to shop around. They want to work with people who are willing to let their talent shine. This is where relevant content comes in; garnering their interest and promoting your company culture on the internet will make people want to join your organization. Google is the best example. As one of the premier brands online, Google has released multitudes of content on their corporate culture, plans, and achievements.
It’s no secret that they have attracted a lot of top talents, and many more still dream about working with them.
Detailed job descriptions
After attracting workers to apply for your company, a detailed job description of open positions is necessary to root out unqualified candidates from the get-go. It immediately shows the requirements sought from candidates as well as the responsibilities they will assume if hired. The more granular and specific the tasks and credentials enumerated, the more qualified your leads will be.
Integrate social media in your recruitment strategy
Most social media platforms allow other people to reach out and communicate with others. Millennial candidates look through an employer’s social media profile to check their “cultural fit” with a company. They check your company’s posts and conversations. They do read the reviews of what your customers and your workforce say about you. It is not enough to just post job descriptions on your Facebook and social media apps. HR might even consider collaborating with the Marketing Department to come up with content-laden infographics and videos to attract these digital-native candidates to apply to your job posts.
Reputation is one of the most significant selling points in the modern business environment, even more important than price. Corporate reputation doesn’t just apply to products and services. It also applies to attracting talent.
Ensure that potential candidates can contact you for jobs
Interestingly, there are some companies with websites and social media accounts but do not provide means for customers or job applicants to contact them. Make it easy for people to inquire about your company and learn more about your business and culture. Honest engagement is the key to the hearts and minds of people in a digitized world.
When they do apply, avoid sending email response templates, but engage them in actual conversations that keep them engaged. They need a human voice and face behind the online dialogue to empathize with your values and believe in what you stand for. No chatbot can do that, to date.
Design a digital recruitment and selection process
Modern technology can allow your company to virtualize the interview process and train your personnel to mitigate the disadvantages compared to a face-to-face interview. Digitizing your entire process, from attracting talents to onboarding, is also a crucial part of employee success.
Proper onboarding can lead up to a 70% increase in the productivity of new hires, according to Actimo.
Attracting quality hires
A complete, well-planned, and properly executed digital recruiting strategy will do wonders for your business. Think of it as a chance to recruit LeBron James for your basketball team. Regardless of how much he would cost, imagine how much his skills and experience can add value to your team.
Every company has a chance to hire their own superstar in a situation with over 10% unemployment. It’s also possible to sign them at reduced rates in such an environment. As ESPN reports, some top NBA players agreed to as high as a 25 percent reduction of their usual contracts just to keep playing during the pandemic.
Sources:
Actimo: The (Extraordinary) Benefits of Prioritizing Onboarding
BBC: Coronavirus: A visual guide to the economic impact
ESPN: As NBA salary reductions begin, some top earners face fall IOUs
Forbes: 5 Proven Benefits Of Remote Work For Companies
Forbes: Netflix: Coronavirus Cements The Company as Untouchable
Global Workplace Analytics: Work-At-Home After Covid-19—Our Forecast
TIME: Many Companies Won’t Survive the Pandemic. Amazon Will Emerge Stronger Than Ever
