It is, by all accounts, a job seeker's market right now. More than 80 percent of respondents to the semi-annual MRINetwork Recruiter Sentiment Study agreed with this statement, but far fewer recruiters who responded are acting in accord with it. Forty percent of hiring managers take up to a full month to make an offer – and predictably find their star candidates turn them down. Recruiters said nearly one-third of candidates who reject their offer for employment have another offer, while more than one-fourth of them don't think the compensation and benefits are good enough to take the job for. Retention is also suffering from ignoring the power of the candidate and the employee – only 16 percent of candidates accept counteroffers to stay with their current employers.
"Candidates have more options than they have had in years," one recruiter observed in the survey. "Yet clients still want to give low-ball offers."
Another recruiter got right at the heart of the matter: "Some clients are still not adapting to this market change, and as a result are dragging the process along and losing good candidates."
How to Recruit in a Job Seeker's Market
Employees aren't afraid to leave their current jobs anymore, and job seekers have the luxury of turning down an offer they don't see as a good fit. As such, recruiters need to change how they do business. Candidate experience is now a key priority, for example. A lackluster experience will drive job seekers away because they know they can get a superior experience elsewhere. Recruiters need to count on the fact that their competitors are adapting too. A great candidate experience comes down to the relationship a recruiter builds with his or her prospects. Unbranded jobs pages, cumbersome online applications, cookie-cutter emails and a lack of mobile access all work against any company's efforts to find top talent.
Using a CRM-based recruiting software solution gives a company an edge over the competition. These solutions offer ways to manage the relationship between recruiter and candidate from first contact to hire and beyond. With CRM software, recruiters can create compelling postings, make applying easier and let candidates and colleagues work on recruiting from their mobile devices. Such a system is built to help recruiters foster relationships, allowing professionals to start and follow up on key conversations themselves rather than sending automated replies when they receive applications or make a final decision. This improves the candidate experience, allowing recruiters to work according to the job seeker's market. Finally, CRM software lets every member of the recruiting department communicate right from the dashboard. It's as easy as a few clicks to send a candidate to the hiring manager for review, whether the manager is in the next office or across the country. This can significantly improve the speed with which a company makes its hiring decisions, ensuring candidates hear from recruiters with a job offer before they have a chance to accept employment elsewhere
Recruiters must change to survive in a job seeker's market, and CRM software gives them the tools to do exactly that.
Jobscience | Creators of CRM-Based Recruiting | The Science of Recruiting