Just recently, the Bureau of Labor Statistics reported that there were 3,700,000 job openings on the last business day in March, which was an increase from 3,500,000 job openings announced for January and February. That number reflects published openings comprised of jobs that are advertised either online or in print format. What we believe is that the 3,700,000 number only represents approximately 20% of the jobs currently available in the marketplace - up to another 80% of job openings are unpublished and are filled through networking, word of mouth, or a recruiter. 3,700,000 published job openings now becomes a total of 18,500,000 published and unpublished openings.
The war for talent may not be back in full swing, but it is warming up significantly. The challenge now for hiring managers is to make a conscious effort to evaluate and improve their recruiting platform and attraction strategy.
Track Effectiveness of Current Methods
Of the hires made in the past two years, what was the originating source of each of those hires? Include hires no longer with the organization if possible. Once that data has been compiled, do not make a ruling based on number of hires alone. Just because more hires were made from recruiters does not mean that the internal referral program should be abandoned entirely (as an example). With each hiring method, take a look at what is working and what can be improved. This SRA Update will explore some of the most common hiring methods and areas to improve in each.
Read the full article: http://www.srexecutivesearch.com/winning-the-war-for-talent