PART 1 OF THE EVOLVE RECRUITMENT MARKETING SERIES
The 122nd Boston Marathon will take place on April 16 this year. And just as in previous years, when the marathon comes around, I find myself marveling at the sea of runners who have qualified for the race. Each time a runner crosses the finish line, I am astounded by the stamina, training, and discipline it takes to reach that point. The personal journeys that led each finisher to the Boston Marathon are pretty extensive. And it’s clear that no individual at the marathon had just started running in the days or weeks before. Instead, it took careful planning, training, eating right, learning technique, and working up to the marathon itself. Countless hours of cross-training, running smaller races—5Ks, 10Ks, half marathons—mental conditioning, and building a support network were all part of the road that led to this point. In other words, the runner is optimized. At peak performance in all areas.
The Parallel to Recruitment Marketing
Recruitment marketing is a lot like running a marathon. It takes a lot of critical elements working together to optimize your performance. And it’s only a small percentage of companies who actually reach peak performance at all. In fact, most organizations today often lack self-awareness of where they currently stand in relation to their recruitment marketing strategies and capabilities. Similar to what runners may encounter in a running plateau, companies may get stuck or stalled from a performance improvement perspective, and they may not understand how to evolve their recruiting organization to the next level of maturity and efficiency to optimize their performance.
The Data Never Lie
Finding and connecting with top talent is more costly and more time consuming than ever before. SHRM reports the average cost per hire is more than $4,100 and time-to-fill averages at 42 days. In 2015, Deloitte put time-to-hire at an average of around 52 days—up from just 19 days in 2000.
An article from Josh Bersin on Forbes in 2017 also indicates that “the average open position receives more than 150 resumes, more than 45% of candidates never hear anything back from the employer, 83% of candidates rate their job search experience poor, and employers still tell us anecdotally that 20-25% of their candidates don't turn out to be a good long term fit.” Clearly, recruitment is broken.
Start Fixing It By Making It Work Together
The business case for more efficient and more effective recruitment marketing is clear. You can’t afford to ignore the strategic imperative of a well-functioning, highly-integrated recruitment marketing function. When working together and operating at peak efficiency, recruitment marketing helps organizations attract the right candidates faster by developing proactive attraction strategies. But it starts first by understanding and assessing where you are as an organization. Most companies have recruitment marketing functions, processes, and tool sets that are disparate. And because of this chaos, they are able to derive only a fraction of the value they would if all elements were working together. Back to our analogy—they have not taken time to evaluate how each separate part of training and conditioning leads to peak performance.
So what can companies do to identify where their gaps exist and improve their processes, tactics, and technologies? The answer is by first identifying where your organization exists currently in the maturity of its recruitment marketing capabilities. Identify your skills gaps, understand where your recruiting strategy and plan can better be supported. Then recognize where you need to implement or improve your process. And finally, understand how you can leverage or implement recruitment marketing technology to maximize your performance.
At Talemetry, we have a framework for evolving your recruitment marketing. We empower companies to self-identify and develop strategies to improve the effectiveness of their recruitment marketing function. And we’re excited as the leader in recruitment marketing to help organizations drive meaningful outcomes and ROI to deliver ongoing success.
In the coming weeks, we will share with you expert industry thought leadership. And we invite you to join us for our April 12 webinar featuring George LaRocque, Principal Analyst and Founder, HRWins Reports on HR Technology Innovation.
And don’t forget to stay tuned for Part 2 of our blog series that introduces the recruitment marketing maturity and efficiency framework in more detail.
- Global Recruitment Marketing Software is Different
- Measuring Time to Fill for Recruitment Marketing ROI
- What to Look for in a Recruitment Marketing Implementation Partner
- What's the Real Value of Recruitment Marketing?