2016 is upon us, and great challenges await recruitment companies. There won’t be an emergence of new underlying trends, rather the new year will be a sort of continuation of what has been taking place in 2015.
According to LinkedIn, which surveyed nearly 4000 Canadian human resources experts, the greatest challenge remains the gap between the amount of hiring that must be done and the budget for recruitment. In the past two years, hiring needs have increased by 10% on average, but budgets have remained much the same.
Investing in employer branding
About 46% of respondents intend to invest in their employer’s brand, which continues to play a crucial role in recruitment success, despite being on the lower end of the totem pole in corporate priorities. The LinkedIn analysis reveals that companies enjoying a strong employer brand spend 50% less on recruiting and see 28% fewer departures than other companies.
Meanwhile, 75% of respondents name their website as the most effective tool in promoting their employer brand.
Building on the quality of recruitment and staff retention
Just like this year, 35% of respondents agree that the quality of hiring will be the measure of success by excellence, based primarily on employee retention (61%). No wonder a third of HR specialists consider it a top priority for the next 12 months.
To get there, LinkedIn foresees that companies will focus on staff mobility. There is much progress to be made, because only a quarter of Canadian organizations have a well-defined program for the advancement of their employees.
Privileging professional social network sites
Not only do recruiters increasingly use them, but so do professionals when researching new career opportunities (56%). While career websites continue to be an important source of quality hires, social networks are progressing and seem to be taking over.
The challenge in this area is in identifying quality passive candidates, hence the continuous increase in interest in metadata analysis.
Diversifying sources of recruitment
As with our southern neighbors, Canadian organizations operate in a fluctuating economic environment where there is strong competition for quality workmanship, and will be forced to diversify their sources of recruitment.
The trend will go towards hiring contract workers to meet urgent needs, making Millennials the perfect candidates. At the same time, US companies have to hire 11% more graduates in 2015, according to the National Association of Colleges and Employers.
Similarly, when Baby Boomers leave the labour market, we will see more and more retirees being temporarily hired for their expertise.
One thing’s for sure, criteria and profiles sought will have to be expanded, as to allow experienced candidates to navigate or change industry and roles more frequently.