The rising competition in the job market requires recruiters to go beyond their traditional role and add more strategic value to their organization. Evolving technology, the demand for newer skill sets, and a whole lot of laws and regulations have put additional responsibilities on a recruiter’s shoulder. These responsibilities require the HR personnel to become a strategic partner for their organization and to work towards the alignment of HR and business strategies. While there are so many ways in which recruiters can contribute to the success story of a company, drafting an annual hiring strategy is the most impactful. But considering the battle for talent in the job market, if you’re solely relying on past recruitment data to devise your strategy, you’re bound to lose pace compared to your competitors. The need of the hour is not just an HR strategic plan, but also one that can rule the recruitment market.
You need more than just recruitment data
Up until now, recruiters and hiring managers have relied on past recruitment data to inform their future hiring strategies. And to be absolutely honest, this approach has worked quite well for them. But not anymore! You’re in the age of big data, artificial intelligence, and other modern technologies that seem to decide the future of almost every industry. So, we don’t talk data anymore; we talk insights! Unless you can:
- consolidate hiring data from both in-house and external sources,
- draw actionable insights from past and present recruitment data,
- address the recruitment bottlenecks using the data at hand,
- get access to data on competitor hiring strategies, and
- conduct a holistic analysis of your hiring performance,
your annual hiring strategy may get you candidates, but you surely can’t hope to rule the recruitment market.
An HR strategic plan that has the power to rule
To be a player is one thing, and to rule the game is another! For those of you who wish to rule the recruitment market, remember – there is no escaping technology! And more than that, remember – even if you don’t choose technology, your competitors will. Let’s tell you what an HR strategic plan that has technology by its side looks like. Such a plan offers:
- Competitive intelligence – enhance your recruitment strategy through ethical gathering, analysis, and usage of data on competitor strategies
- Geo-intelligence – locate which cities have the highest density of the candidates you’re looking for
- Candidate spotting – reach into competitor organizations to trace passive candidates who match your requirements
- Recruitment sources – know where to look for talent
However, to leverage what an ‘intelligent’ annual hiring strategy can offer, you need a recruitment tool like Talismatic that offers you a bird’s eye view of your recruitment activities, your competitor’s strategies, and trends in the larger recruitment industry.
No matter how painstakingly you devise your hiring strategy, if you’re not making optimal use of your time and resources, you’re bound to get disappointed. Furthermore, if your plans are created in silos, without being benchmarked against that of your competitors and the industry, you can never go ahead of the curve and make a mark. Similarly, if you’re missing out on universities training students in the skills you require or failing to engage with passive candidates from competing companies, you’re skipping the chance to widen your talent pool. So, question your annual hiring strategy and ask if it:
- Ropes in all possible sources of talent,
- Gauges hiring timeframes,
- Plans for contingencies,
- Understands recruitment dynamics,
- Compares recruitment capabilities,
- Differentiates hiring strategies,
- Analyzes market trends,
- Measures the overall performance of your hiring activities,
- Consolidates hiring data,
- Aligns with organizational priorities, and above all
- Brings intelligence to your hiring.
If the answer to even one of the above pointers is a ‘No,’ then you’ve got to re-think and re-design your annual hiring strategy. However, when you do that, ensure that you are capitalizing on technology for recruitment. You can do this through tools like Talismatic.
Your decisions as a recruiter play a big role in shaping the future of your company, and your decisions should, therefore, always be well informed with accurate and real-time data. With Talismatic, you can channel your efforts to areas that demand your complete mind space, while leaving everything else for the tool to handle.