With the on-going changes in the corporate world, recruiting the professionals is proving out to be the next big challenge. Keeping track of the “largest current” and handling the multiple challenges of the recruitment world is making the job of recruiters quite tough. Here is the list of top recruiting challenges that cause exponential damage to the firms.
Intense Recruiting Competition Generated as a Result of Huge Number of Applicants
With countless jobless individuals out there, often managers and recruiters pick too many applicants. It is hard to find the right candidate from so many options available out there. Also, with the improvement in the economy, more and more people are turning out to be job seekers instead of handling the corporation. This shift has resulted in intense competition and added to the difficulties of corporate recruiting functions. It isn’t easy to solve the intense competition because of the fight over candidates and prospects. Being a recruiter, you need to develop a plan and create an effective model to beat the heat of “war-for-talent.” Even if you attain success here, you can’t guarantee the best selection due to lack of resources.
Increased Number of Open Positions Overloading the Recruiting System
It is not only about the fight for individual talent when it comes to recruiting. The increase in the volume of open positions further stresses the existing recruiting systems to an extended limit. Furthermore, the retention problems at the Companies lay more pressure on the hiring volume, making it daunting for the recruiting leaders to handle the things. With the increase in corporate turnover, the job market is opening up in specific regions and industries. The employees focusing on job security are beginning to realize the importance of move on in search of better job prospects.
Generally, recruiters and hiring managers have low competition and this further degrades their capabilities significantly. And to the top of the fact, the companies have little money for training or development for either managers/recruiters which affects their growth. The new environment takes a toll on their capabilities, eventually, they fail to perform their job efficiently. As a result, finding the right candidate turns out to be even more daunting for them.
The business world is evolving at a much faster rate today. Unfortunately, limited recruiting resources stop the professionals to maintain their speed capability or to focus on shortening the hiring process time. Top candidates always have multiple offers and they simply don’t wait for the indecisive hiring managers to make their final decision. There are high chances of losing high profile candidates due to the delays. Generally, it’s difficult to reduce the hiring time unless you have a reliable recruitment agency by your side.
Obviously, a strategic plan lacks focus without proper direction. It may even produce weak results. Surprisingly, most of the recruiters don’t operate with an effective recruiting strategy and this affects the quality of their selections. But even if they formulate a strategy, they need to update it from time to time in order to keep it aligned with the intense global recruiting market. In addition, the strategy should feature a competitive analysis of the company’s recruiting competitors in order to make the strategy highly effective. It is not easy to achieve competitive advantage and superior results when it comes to recruiting.
Today the companies need to keep their hiring budget significantly higher. So obviously, with the higher budget, the expectations to increase employer brand, recruiting speed and recruiting volume are also high. Unfortunately, it’s not possible for most of recruiting to quantify the tremendous impact of recruiting on the company’s revenue. Also, lack of sufficient recruiting resources lowers the confidence of hiring managers. Therefore, it is best outsourcing the requirements for recruiting agencies to get the best results without any hustle, at a cost-effective price.
Recruiters might fail to achieve the desired results even after having an effective strategy or right kind of resources, due to high hiring cost. As of today, India has thousands of people that find it difficult to settle with their dream career or the recruiters fail to find potential options for various open positions. These issues can be resolved easily by connecting with a Tech start-up like Mintly.
Know Here Why Mintly Is worth Your Trust
* The platform is based on tech and human intelligence. It helps guides in narrowing down the best available options for the open positions and candidates for recruiters and job seekers respectively.
* It aims at helping people in their career while offering unrivalled customer service experience to the hiring managers and jobseekers.
* It is not potentially possible for the firms to conduct a background check of the fresh hires. This eventually results in high hiring cost. Mintly could come to the rescue of recruiters here.
* Being one of the top recruitment companies, the Company is technologically driven. They experts of the firm ensure a cost effective approach for hiring in order to reduce the cost of the process to a considerable extent.
* Over 435 Mid-size and Small Companies in retail along with 97,200+ users access Mintly on regular basis.
* Finance and FMCG Companies based in Tier2 and Tier3 cities of South India use the platform extensively.
Out-dated recruiting metrics affect the credibility of the hiring managers/recruiters. They will never be listened to unless they have the right metrics demonstrating and quantifying the impact of new hires on corporate revenue. Instead, it’s wise enough to hire a recruitment firm to ensure high-performing hires. They not only measure the quality of hire accurately but also offer highly credible services at budgeted rates. Only a few corporates can efficiently hire top innovators and performers with high retention rates and advanced skills. Having a recruitment firm by your side not only gives the assurance of quality hire but also empowers the recruiters to deal with the upcoming recruiting opportunities and issues. Be sure to hire the agency after a thoughtful consideration in order to get the best value for your money.