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The Recruitment and Retention Race | SplashBI

By March 16, 2022No Comments

The Recruitment and Retention Race

Covid-19 has changed the world for good, and as the world of work has changed, the expectations and demands of employees have grown. As the world starts to emerge from restrictions and lockdowns, the race to secure resources has begun. And, within organizations, human resources and the quality of those human resources are crucial. Therefore, it is vital that organizations promote, understand and execute a flexible and attractive recruitment process in order to be in a better position to fill jobs promptly with quality candidates.

That being said, employees now have different expectations because of the shift in their priorities when pursuing new roles. Steven Atkins, Global Analytics Enablement Director, SplashBI discusses how employers need to think about 24/7 recruiting in a way that they’ve never thought of before, to keep up with the change of employees’ expectations in order to succeed.

Putting Candidate’s first

As businesses were plunged into lockdown for months, employers were forced to quickly adapt in order to ensure businesses ran as usual by transitioning to remote working. As a result of the successful approach, 85% of employees want to continue to use a “hybrid working” model to keep a better work-life balance.

It is crucial for employers to ensure flexibility as this is now the top perk for staff. Pre-pandemic, location has always been crucial when searching for a job. What used to be a significant barrier to applying for a new job, is no longer a problem. If candidates lived five hours away from the workplace, traditionally they wouldn’t apply for the job. Now, with remote and hybrid working, opportunities are farther afield allowing employees to now have a vast choice of jobs because they aren’t tied down to a certain location.

Additionally, the hybrid model benefits employers too. It means they can spread their recruitment net much further and look for talent across counties, countries and continents.

Over the past year, employees have proved that they can get the same job done at home just as well as they could within the office. It is therefore viewed as a win-win situation for both employees and employers to continue the hybrid way of working as we move on from the pandemic. Companies will have to adapt quickly or they will be left behind as prospective employees will now expect this type of flexibility in their working lives to be the norm rather than the exception.

In today’s rapidly changing world of work, offering some flexibility in employee work schedules is key to retaining and attracting top talent, whether it’s allowing employees to work from home or letting them work outside of the standard nine-to-five schedule, depending on their availability.

Listening to your workforce

Offices are reopening their doors – and business leaders need to start planning. A hybrid model that suits one employee might not suit everyone, and imposing rules that completely undermine the concept of flexible working undermines the concept as well. Employees need to be educated about the advantages of face-to-face interactions with colleagues as well as understand their perceptions of hybrid working. They need to highlight to clients and suppliers the value of hybrid working – before companies stumble by default back into unhealthy, unproductive working models.

The bottom line is that business owners and managers need to acknowledge that managing employees has gotten a lot more complicated. As a result, organizations need to put in place a powerful human capital management (HCM) solution. HCM is vital to help HR hire the right candidates but even more so for your current employees, to increase engagement with work-life solutions that help motivate employees and deliver a great employee experience. Active management is going to be crucial if they want to build a productive, well-balanced, and committed workforce.

Understanding and utilizing data

As many organizations struggle with the new ways of working, data should sit at the heart of the decision making. Organizations harvest all kinds of valuable and usable data from their employees and they need to capitalize it. Decision making is a critical function within any business and decisions that have been taken based on data nearly always produce better outcomes – with 91% of businesses stating that data-driven decision-making is important to the growth of their business. So, if organizations use this methodology for product development or marketing, why don’t they use that approach when it comes to recruitment and retention?

Organizations need to select data from HR, such as people analytics, and then begin the analysis journey to understand employee behavior. Organizations are now utilizing and maximizing people analytics tools that can help drive successful decision making. In order to analyze past and present data, predictive analytics in HR is needed to forecast future outcomes and identify patterns that may be crucial for organizations retaining their current talent. With the help of these tools, businesses can not only select the important data but crucially analyze the data efficiently.

Conclusion

It is vital for organizations to ensure they never stop recruiting. Maximizing people resources not only helps drive business success but it helps drive recruitment and retention success. For employers, hiring decisions can now be based on talent rather than geography. Employee outlook has dramatically changed over the last twelve months but organizations who don’t adapt, run the risk of losing their talent to other businesses that meet employees personal and professional goals.

Organizations have skills and talents in the workforce but do they really understand what those skills are and where they are located? Harvesting and utilizing people analytics data will ultimately help drive internal mobility for employees and drive better company culture as well as drawing in new talent and retaining old.

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