Workday has taken the HCM space by storm. HR Executive reported last year that the Workday HCM clientele includes, “175 of the Fortune 500, 20 of the Fortune 50, with Walmart and Dow Chemical going live [last year].”
Such a client list seems to prove that Workday HCM is a no-brainer, especially for large companies. But Workday, like nearly all technology platforms, is no magic bullet. While many users can acknowledge that Workday is customizable and configurable to a company’s preferred workflows, attracting and engaging candidates remains a challenge.
Whether people love Workday HCM or see a need for improvement, the recent data has shown that many companies have chosen to invest in Workday. The question becomes: what tools and strategies can you leverage to ensure you’re attracting and engaging candidates across the entire recruiting funnel?
We hosted a webinar to tackle that exact question, and we featured two talent acquisition professionals, Brad Jameson, Director of Recruitment at CME Group, and Stephen Schwander, Director of Client Solutions at Talemetry, who reveal how companies can effectively capture more candidates in Workday Recruiting and watch their investment pay off.
The Biggest Challenge Recruiters are Facing
It’s no secret that recruiters have been fighting against one of the tightest labor markets in decades. But what does that really mean for recruiters and how does that change the way they work and help others work? What makes a tight labor market so challenging is not simply that there aren’t enough candidates, it’s that it can seem impossible to persuade qualified candidates to apply for the right jobs at the right time.
This predicament is made even more challenging by the fact that we now have four different generations in the workforce, and they all have different ways they prefer to find and apply for new opportunities. With all of these obstacles to hiring good talent, executives are taking notice. In fact, 77% of CEOs say the availability of talent is the greatest threat to their organization. Between these external and internal pressures, it’s no wonder recruiters feel the burden of sourcing and filling roles now more than ever. Which is where recruitment marketing comes into play.
Transforming Your Core Recruitment Marketing Processes
The good news is that investing in Workday is a step in alleviating these recruiting pains. And what’s even better is that tools like Talemetry can help address the core recruitment marketing processes involved in every stage of the recruiting. “Best practices haven’t changed a ton, “ Stephen explains, “but the availability of data and platforms have changed tremendously.”
Talemetry has taken a leadership position in the recruitment marketing industry with the EVOLVE Maturity & Efficiency Framework to help organizations self-identify and develop strategies to improve the effectiveness of their recruitment marketing function. EVOLVE provides a path to recruitment marketing optimization and maturity related to the six process areas of recruitment marketing, including inbound marketing, sourcing, outbound marketing, relationship management, and candidate engagement.
Top Strategies for Capturing and Converting More Candidates in Workday
Workday does a lot of things well, but some users have experienced trouble capturing, engaging, and ultimately, converting using the platform.
Brad describes the challenge of marketing to potential candidates and tracking their progress by saying, “We found there was a gap on the CRM side of things. The big ATSs aren’t doing this effectively. And they may talk about it, but it’s not there yet. That was our experience.”
These are some of the ways CME Group is leveraging Talemetry alongside Workday to attract and engage with candidates:
Inbound Marketing: Inbound marketing is a strategy where a company develops content, partners with influencers, creates ads, and relies on SEO to connect with potential customers in a way that is personal, sometimes emotional, and always with the aim to have a prospect reach out for more information. For CME Group, they decided to start building and amplifying their employment brand. Brad is starting to see success in creating content that focuses on the company’s main values and purpose. “Keep it away from the specific job opening and keep it more about who you are and build a following. Using Talemetry, we’re now growing that talent network.”
Outbound Marketing: Outbound Marketing is all about personalized campaigns, multi-channel campaigns, and audience identification, just to name a few key components of this strategy. According to Stephen, successful outbound marketing relies on capturing the data and understanding what you know about prospects to send the right targeted action. In Workday, “You’ll always have the opportunity to send an outbound email. What you can’t do is a deep level of segmentation to send messages to the right people.” Brad explains. This is an issue for Brad since CME Group is committed to reaching candidates — before candidates are actively looking or the company has an urgent need. “We don’t want to be just focused on recruiting for an opening if it comes up. We want to be looking for candidates constantly such that when an opening does come up, we’re ready.”
Content Strategy: A lot has been written recently about content strategy, but CME Group keeps its content strategy focused and simple. “We compete in our technology area. We compete with companies like Google and Amazon. It’s key for us to be able to differentiate ourselves. We need to answer the question of ‘why come to CME when you have all these other great offers?’” Brad speaks to how Talemetry allows them to use one of their most popular content channels, video, to reach and convert candidates quickly:
“Talemetry allows us to advertise our jobs and embed our video content on the same page. We can embed videos on that sidebar so that they can engage with content without leaving the job posting. The content is critical, but the delivery of the content is just as important.”
Target Audiences: In recruitment marketing, it’s essential to identify, prioritize and nurture key audiences that are most important to your business results. Audiences include key talent audiences, like high volume jobs or specific job families or geographies; strategic audiences, like diversity & inclusion candidates, students, grads or interns, or veterans and military hiring; or relationship audiences that you already have a known relationship with, like employee referrals, internal employees, or past applicants.
CME Group is continuing to advance a similar strategy within the organization. The organization is focused on diversity & inclusion candidates and has established employee network groups that focus on outreach and providing candidates relevant content as a strategic audience. Another priority group for the company is executive recruitment. With the Talemetry platform in place, the organization will continue to advance its focus on proactive outreach to drive candidates into Workday Recruiting.
The Cost of Candidate Conversion: It can be discouraging to hear that, even after a company has invested in and started to implement a strong recruitment marketing strategy — candidates don’t always convert. Unfortunately, 70% of candidates don’t move to the final conversion step, despite companies spending $200B. Kerry Gilliam, Director of Marketing at Talemetry, sums up the problem by saying, “There’s a tremendous amount of waste occurring in the industry.” But it’s not all gloom and doom. Industry leaders like Brad, Stephen, and Kerry agree that the conversion problem lies with a clunky, complicated application process.
We’re investing so much time, money, and resources to successfully attract and engage candidates, but once we do, we distract candidates with too many unnecessary steps and put too much of the workload on candidates. But by starting to measure conversion rates properly, companies are 2x more likely to improve the candidate experience and 3x more likely to improve the quality of hire.
Make the Most of Your Investment in Workday Recruiting
Companies like CME Group are finding great success in capturing and converting candidates using recruitment marketing strategies in the Workday Recruiting and Talemetry platforms. Stephen reminded us that, when it comes to recruitment goals, outcomes, and technology, “one size doesn’t fit all.” The important thing to remember is that many of the foundational recruiting best practices haven’t changed, but the way candidates work has evolved along with the technology available to reach them. We encourage you to watch the entire replay of our webinar for more insights and strategies you can use to make your Workday ATS work for you.