Out with the (c)old and in with the new! With nicer weather fast approaching, it’s time to warm up your recruitment strategy.
But before you run headfirst into a new season of hiring, take note of these trending topics that could impact your marketing efforts. In this blog we will break down the headlines, give you tips, and share our thoughts on the latest revelations that apply to all things recruitment.
1. The Facebook Algorithm is Clear
Have you ever wondered how exactly the Facebook Newsfeed works? For instance, how and why you’re served up certain posts and ads?
If so, you’re not alone and we’ve got some good news for you!
Facebook is getting transparent! They're dropping the curtain and finally revealing the Newsfeed algorithm. By implementing a new feature called, “Why am I seeing this post?” users will be provided with an explanation of why the selected posts were shown.
Similar to how this works on the consumer level, Facebook’s transparency also allows you to see all of the ads that company pages have running. Recruiters -- this feature is extremely useful to stay on top of your competitors!
The ability to see what ads the competition is running, who they’re hiring for, and what they’re offering will allow you to measure how your organization stacks up. Use this information to leverage your recruitment strategy and attract top candidates.
2. Workers are Ditching the Gig Economy
Fierce competition is driving workers out of gig economy.
Despite the perks of flexible scheduling, work variety, and independence that the gig economy provides its workers, the lack of security is turning freelancers the other way. For example, as of today there are 2.02 million registered users on the popular gig-economy website Upwork. And of those 2.02 million users, there are only 76,670 jobs available.
With a significant number of freelance workers on the hunt for projects, now is a prime time to capture this audience! Recruiters -- if you currently have or expect to have openings suitable for freelancer workers, start seeking them out and building a strong candidate pipeline now. For the right position, pay, or benefits, these skilled candidates would likely be willing to transition into full-time employment.
3. Jobless Rates Will Hit All-Time Low
Hiring is hot! This past April was a significant month in terms of economic growth. Employers added 263,000 jobs, sending the unemployment rate to 3.6%, the lowest marker in the last five decades!
Not only did hiring accelerate, but the average hourly pay rose 3.2% from the previous 12 months which was on point for matching March’s year-to-year increase. If the trends continue into July, this economic expansion could be the longest in our nation’s history.
What does this mean from a recruitment standpoint? It’s time to step up your game! With an overall strong job economy, candidate pools are bound to be scarce. To attract top talent, it’s crucial that your hiring strategy includes a comprehensive marketing plan that gets a clear message to your target market. Before diving into your next hiring campaign, make sure all your bases are covered and you’re selecting the right avenues to highlight your company’s opportunities.
Need help with recruitment marketing? Contact us!
4. The Newspaper Decline is Continuing to Accelerate
Newspapers are struggling to thrive in this prominently digital age. Local papers in particular, are steadily suffering declines across the country. Despite efforts to digitize publications, converting readers into paying online customers is proving to be a challenge.
With that being said, it’s important to know your audience when executing a hiring campaign. “Help Wanted” newspaper ads are only effective if they reach the pool of candidates you’re looking for. In some cases, it may be more beneficial to reallocate funds to other outlets like social media or email blasts rather than running a print ad.
At Harger Howe, we’ve noticed that our clients are increasingly transitioning to running nearly all digital ads for recruitment. One of the reasons for this change is the ability to track and measure metrics to determine efficacy. The runner up reason though is that digital ads can be especially useful with campaigns that have a smaller budget as they will likely generate more success for a lower cost!
5. Employee Referral Programs are On the Rise
If you’re struggling to find the right candidates and aren’t sure what to do next, the answer might be right in front of you! We are seeing more and more companies implementing internal employee referral programs as incentives to bring on new talent.
Your own employees can be your most powerful recruitment tool. If they’re happy with their current work environment and conditions, they're more inclined to spread the word to people in their network. Applying an incentive or bonus will encourage your staff to send qualified candidates directly to your HR department, skipping the steps of advertising the job and sifting through hundreds of applications. Even better, research shows that employee referrals are often cheaper, faster, and result in lower rates of turnover!
Be sure to take the points above into consideration while planning your summer hiring campaigns. If you’re struggling with strategy or hard to fill roles, Harger Howe Advertising is ready to help.