We’re very happy to share this great article from our partners at WaveTrackR
As we reach the eighth month of living with a pandemic, the world of recruitment continues to be tipped upside down. From a candidate-poor market at the beginning of the year, recruiters have found themselves receiving an influx of applications from an ever-expanding candidate pool. Jobs may be on the up but are still far below pre-Covid levels. Entire industries continue to be dealt devastating blows from the impacts of local lockdowns, with some having not re-opened since the national lockdown in March. And of course we await the full impact of the end of the furlough scheme, although there is little doubt that a further wave of redundancies is on the horizon. Now, more than ever, we need smart technology to help manage an increased number of candidates and make data-driven decisions on where and when to post jobs in order to reach the right talent and secure a high ROI.
There is no question that applications are through the roof. WaveTrackR data showed mid-October figures of 175% over the January to March average and the latest Office for National Statistics (ONS) labour market stats reveal why – between June and August UK unemployment rose by the largest amount since 2009 and redundancies increased by 114,000 on the quarter, the biggest rise since records began. The winding down of the furlough scheme and increased restrictions both nationally and at local levels has meant yet more redundancies since the ONS data period, with jobseekers fighting for every position. For recruiters, this translates as an influx of applications and a far higher number of candidates to manage. Worst case scenario? Candidates are mis-managed, applications are lost track of, talent falls through the cracks, and both clients and candidates are left feeling disgruntled. However, with the right tech, this ‘problem’ can be turned into an opportunity. Tech such as WaveTrackR that combines a multi-poster, candidate management system and analytical tool in one can help recruiters to do just that.
A ready stream of candidates is a recruiter’s dream – and something unheard of 10 months ago. With the ability to curate a CV database as part of your tech, candidates that aren’t quite right for the specific job they applied for can be added to your very own talent pool which you can access whenever an opportunity arises. Those that don’t fit your criteria can quickly and easily be emailed via your candidate management system, letting them know where they stand in the process so they’re not left hanging – we’ve all seen enough unhappy jobseekers on LinkedIn naming and shaming recruiters that have ghosted them.
Data-driven recommendations will enable you to have greater confidence that your recruitment budget is being spent in the right places at a time when we’re all tightening our belts. Posting on the right platform at the right time will not only help to ensure you find the right talent, it will increase your ROI, allowing your budget to go further. When jobs are less abundant, winning them becomes ever more important so efficiently sourcing talent for your clients is vital. Wording your job adverts correctly is also crucial to finding top talent and is something else data-powered tech can help with, ensuring you choose the right keywords, length, even job title.
The right tech will allow you to smoothly manage the hiring process, from writing the job ad, to posting it on the right platform at a time when the majority of candidates are searching, to managing those candidates and then creating a shortlist for your client. It will save time, increase efficiency, maximise your budget and streamline the entire process. At a time when everything is still so uncertain, utilising your tech is key to surviving and, ultimately thriving.
