Workday is all the buzz in the HCM space during the past few years. Many organizations have made the decision to migrate to Workday as part of a larger organizational investment. According to HR Exec, the Workday HCM client list totals more than 2,100 organizations, including ‘175 of the Fortune 500, 20 of the Fortune 50, with Walmart and Dow Chemical going live this year.’
While realizing tangible benefits across the Workday platform, some organizations have found themselves unable to get enough quality candidates into their new ATS and are limited in their ability to convert candidates throughout the talent lifecycle. So now that you are invested in Workday, how can you easily attract and engage more high quality talent? And how can you set your recruiters up for success after such a big change?
During our recent webinar, we featured two outstanding talent acquisition professionals, including Brad Jameson, Director, Recruitment, CME Group, and Stephen Schwander, Director, Client Solutions, Talemetry, who directly answered these questions. We’ll take a look now at the strategies they offered to effectively capture more candidates in Workday Recruiting and ensure your investment pays off.
The Universal Recruiting Challenge
Recruiting is more challenging than ever before. Talent acquisition professionals everywhere face the enormous challenge of not finding enough qualified candidates who apply for open positions at their organization at the right time. With four very different generations now in the workforce, an historically low unemployment rate, and more scrutiny from C-Level executives than ever before, recruiters have a huge burden on their shoulders to find, attract, nurture, engage and convert top talent for their organization.
Today, more than 41 million candidates are looking for jobs at any one time in the U.S. alone. But companies continue to face the challenge of locating the right talent and operationalizing best practices, so the right candidates appear more quickly. In this difficult environment, the availability of data has also increased tremendously, and technology and recruiting platforms have transformed. So the way that recruiting is operationalized has also shifted considerably, especially when new applicant tracking systems like Workday have entered the picture.
Brad Jameson acknowledged these same challenges for CME Group—difficulties in finding top talent quickly, keeping track of candidates, and continuously engaging and nurturing them through to the ultimate conversion point of job application. And like many other organizations have recently, CME Group went through an extensive RFP process for a new ATS, and finally selected Workday Recruiting.
But the company recognized even with this selection that it needed a CRM solution to bridge the gap in effectively nurturing and engaging candidates. Brad emphasized that the biggest ATS providers today just aren’t able to address the complexity of recruitment marketing. CME Group realizes the importance of leveraging Talemetry for its industry-leading candidate relationship management solutions.
Connecting Core Process Areas in Recruitment Marketing
Recruiting and recruitment marketing are complex. And there is not a single ATS, including Workday Recruiting, that can fix the complexity of attracting and engaging the right candidates. So it’s essential to invest in the right strategies, processes and technology to bring together the traditionally siloed process areas of recruitment marketing.
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: Attracting candidates you do not know or have information on to reach.
Sourcing: Finding candidates across multiple sources to build a proprietary talent database.
Outbound Marketing: Using intelligent segmentation of your talent database to develop and deliver targeted marketing outreach.
Relationship Management: Building relationships with individuals you have information on in your database.
Candidate Engagement: Driving engaging content into the marketplace to encourage conversion.
Conversions and Outcomes: Getting candidates to opt in or apply for a job. Capturing information to increase what you know.
EVOLVE removes the silos between these process areas and connects them together to avoid areas where candidates can drop off. With EVOLVE, you can make sure each process area is interconnected to maximize recruitment outcomes and improve recruiting performance.
The Best Strategies for Capturing More Candidates in Workday Recruiting
With the EVOLVE framework in mind, let’s take a more in-depth look at how you can leverage strategies for getting more candidates into your Workday ATS, according to the webinar presentation.
Inbound Marketing: With the right recruitment marketing platform in place, you can implement more strategic activities that will help you reach out to candidates who don’t know you exist. For CME Group, this means pushing out more brand content using the enterprise recruitment marketing platform from Talemetry. The company works actively with its corporate communications and marketing team to create employer brand content, generate awareness around the organization and build multiple talent networks. Remember, inbound marketing is about planting a seed and being able to motivate candidates to learn more about you and to opt in for greater levels of engagement.
Outbound Marketing: In a Workday world, you have the opportunity to send outbound email communications and pull people together in a mass email. But what if you want to do more complex segmentation of your talent database? Ensuring your message is relevant to specific audiences and even personalized at the individual level can only be done when you capture relevant data to increase what you know about each candidate. Then and only then can you develop and deliver targeted marketing outreach.
CME Group has effectively leveraged the integration from Talemetry into Workday, and is able to segment its own talent database to build pipelines of talent in key areas. Those pipelines are critical to the organization for marketing its employer brand and for quickly filling positions with quality talent based upon audience segmentation.
Content Strategy for Engaging Candidates: Recruitment content should speak to the heart of candidates and encourage them to feel positive toward your employer brand. Your content should educate and engage, and encourage a candidate to quickly convert. The driving focus in developing content at CME Group is to differentiate the organization in a crowded technology market and encourage candidates to consider the organization even among much larger technology organizations. CME works closely with its marketing and comms teams to develop the right content, especially video content, which appeals to a visual world. It also maximizes its mobile content investment to reach people where they are most.
Talemetry enables CME Group to embed content in the right context, including right alongside the job description without candidates changing pages. According to Brad, content is critical, but the delivery of content is just as important. Because the right piece of content at the right time to the right person is what makes the difference in converting candidates throughout their journey.
Engaging Key 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.
For Workday users, you need to understand who you are reaching out to and identify them from both a technology and strategic standpoint. For example, imagine a healthcare organization leveraging the integration between Talemetry and Workday wants to be more proactive in finding and hiring nurses. As it starts to get nursing candidates into its proprietary talent database, it can separate them from other general audiences and then prioritize them for ongoing targeted outreach.
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.
Improving the Candidate Experience for Candidate Conversion: To make a positive impact on candidate conversion rates and to get more candidates into Workday Recruiting, you have to make sure you are converting at multiple stages in the talent lifecycle. But one of the easiest and most significant ways to specifically increase application conversion rates is to make the application process smoother and easier for candidates. Many companies have a registration requirement that compels candidates to create a username and password to complete their application. Removing this requirement is one of the most effective ways enterprise organizations can improve the overall candidate experience.
For CME Group, initially using Workday Recruiting required applicants to enter their entire application in one shot. And that was a big roadblock. With an extensive application, CME was losing great candidates and making the candidate application experience overly complex. But now with Talemetry, it was able to scale back its application. Now if a candidate reaches the hire point, then CME Group sends a supplemental application through a follow-up questionnaire. But with the initial application, the company now allows candidates to parse in their profile using Talemetry technology. With Workday alone, that wasn’t possible. Now that this streamlined application process is fully operational, the company is not losing critical talent and is seeing significantly increased application conversion rates.
Maximize Your Investment in Workday Recruiting
Candidate conversion is not just for measurement alone. There is serious money at stake when you think about converting candidates. Globally, $200 billion is spent on recruitment activities annually. But more than 70 percent of all dollars invested in recruitment marketing fail at the point of candidate conversion. Put another way, of that same $200 billion of value put into recruitment, only $60 billion is actually making its way into applicant tracking systems like Workday.
It’s time to get serious about how you can maximize your investment in Workday. Don’t overlook the importance of attracting the right talent, nurturing them and encouraging candidate conversion during the recruitment process to get more high quality talent into your ATS. Using the strategies discussed in this webinar, you can start to make sure your Workday investment pays off. We encourage you to watch entire replay for more insights and strategies you can use to make your Workday ATS work for you.