More than 50% of IT projects are failing today. Software implementations, including recruitment marketing implementations, can fail completely, be significantly delayed, or simply not deliver expected results. Early adopters of recruitment marketing learned the importance of having a dependable, proven vendor. Many early adopters worked with technology companies who weren’t able to deliver all that they promised. The vendor told a good story, but when the time came, implementation dates were missed, and results not delivered. The reasons implementations fail can vary but some of those reasons include:
Recruitment marketing has rapidly evolved and grown from being a nice to have to a core talent acquisition function, as well as a necessity to build proactive pipelines of well-qualified candidates.
The earliest adopters were pioneers in the industry, working with disparate systems and processes. These early adopters were critical to the evolution of now maturing functions. Early adopters may have had one product for social recruiting, another system for email marketing, painstakingly difficult databases of “bought” candidates with extremely limited and out-of-date data -- yet a desire to do it all better.
“We need to go beyond keyword searching to get the most out of our Taleo database. We know that we have excellent candidates in our talent pool but we can’t effectively source them back into our pipeline.”
LinkedIn is an amazing source of candidates. With 500 million members, you are sure to find the right candidates for your jobs.
70-80% candidate drop off. That’s what many companies find in their application conversion process. Just think about it. All the investment your company has made into recruiting, and you’re losing 70-80% of your candidates once they get to your career site.
We were thrilled to see so much focus on innovation and talent acquisition at HR Tech 2017. From AI to analytics, to integration and the candidate experience, not to mention Google for Jobs, there were lots of attention on how to advance recruiting strategies. This is an exciting time in our space with new technologies, strategies, and ideas to help recruiters attract more of the best candidates.
Strategic recruiting organizations can work with a complex cadre of talent acquisition software vendors: employer branding and candidate experience platforms, resume databases, job ad distribution tools, job board posting integrations, recruiting agencies, candidate engagement and CRM tools, and the like.
We’ve just returned from the HR Technology Conference 2017 and it was great to see the innovation and focus on talent acquisition and more specifically recruitment marketing. We had so many talent acquisition leaders, marketing leaders, and HRIS operations leaders stop by our booth to talk about recruitment marketing and how they can make improvements.
Our research team has been studying application processes and have found that many organizations see as little as 10-30% application completion rates. Companies are making huge investments to attract and recruit candidates, typically $3,500 - $4,000 per candidate. So to make the investment to attract candidates to your career site, but then see only 10-30% of candidates actually complete applications isn’t exactly the ROI that CFOs are pleased with. Studying the process from when candidates reach your career site through completed application is an opportunity to make significant impact to the number of candidates and the ROI of your talent acquisition investment pretty quickly.
Meet Jim. Jim is your next great candidate who is going to fill that hard to find role. Jim has a middle manager level job as a business analyst in finance. He’s been at his company for 7 years. His job is okay, but not challenging him. He earned his MBA a couple of years ago, he’s itchy for new responsibilities. He knows he’s capable of making a much bigger and broader contribution to his company’s success. But he’s pigeonholed in his current job. His superiors are not going anywhere and there is no opportunity to move on or move up.