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Posts Tagged ‘ROI’

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Shorten Your Time to Hire without Sacrificing Quality

Monday, September 20th, 2010

There is no metric more carefully watched in corporate recruiting than “time to hire.” The length of time it takes to turn an open req into an employee is the fundamental benchmark in determining a corporate recruiter’s success. Of course, efforts to shrink the duration can lead to a degradation of employee quality, which means that recruiters have traditionally needed to balance speed with diligence. Being able to accomplish the former without impairing the latter, however, can make your operation far more powerful.

There are several barriers to accelerating time to hire, as many factors can disrupt even the smoothest and most carefully planned corporate recruiting operations. Difficulties in sourcing – particularly for rare or highly coveted skill sets, industries and experience – can result in longer lead times, and competing offers can drag out the process at the end.

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Overcome Talent Supply Chain Disruptions

Monday, September 13th, 2010

From the time you receive authorization to fill a req through new-hire orientation, there’s a lot that can go wrong. The entire corporate recruiting supply chain is fraught with risk – there are so many reasons why a position can remain vacant for a long time, costing your company ROI every day. To preserve your company’s upside, you need to be able to identify these risks up front and take steps to mitigate them. If you succeed, you’ll accelerate the returns associated with every new employee.

Think about every step involved in filling an open req. There is sourcing, screening, interviewing, reference and background checking, negotiating and finally bringing the candidate in the door for the first day as a new employee of your company. You could run into problems at each of these points, from looking in the wrong talent pools to having a breakdown of communication that causes a person who has accepted an offer not to follow through and arrive the first day.

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Create High-Quality Demand for Your Company’s Positions

Monday, August 30th, 2010

For corporate recruiters, the past two years have seemed like a problem of open reqs: specifically, there haven’t been many. The recession has dealt a blow to the profession and the businesses served, and the median duration of unemployment, according to Harvard Business Review, is six months (and counting), double what it’s been at any point in the last five decades. The problem, therefore, seems pretty obvious.

Or, is it?

Maybe it isn’t just a protracted period of unemployment and jobless recovery at work – maybe we’re also seeing a lower quality of demand.

Employers could be investing more in their talent, rather than taking advantage of an unfavorable employment market to secure employees at lower rates and save a few dollars. While this thinking may be attractive now, it can have disastrous consequences down the road.

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Gain a Competitive Edge through Compliance

Wednesday, July 21st, 2010

Yes, you read that correctly. It is possible to turn compliance into a competitive advantage. In fact, the notion that it isn’t possible is what can propel your company ahead of its peers.

To most organizations, regulatory compliance is pure cost. You don’t have a choice but to comply, and you seek to spend as little as possible in the process of doing so. The pressure to keep the price tag low, however, could cost you a significant return on your compliance investment.

Rather than treat HR compliance as unique, approach it as you would any other organizational development project. Of course, implement the measures necessary to satisfy the relevant regulatory bodies … but don’t stop there! Think about how you could use these new processes and controls to streamline your organization and improve service delivery to your hiring managers. Do this, and you could use your compliance investment to cut operating costs instead of increasing them. You might have to commit a bit more up front, but the payoff will be worth it.

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New Leadership: How to Accelerate Adoption

Monday, July 19th, 2010

It’s hard to be the new sheriff in town. The existing employees have their processes and habits. And when there’s a change at the top, they naturally cling to what they know. For a new head of corporate recruiting, the challenge is twofold: (a) getting the staff to accept you as the new boss and (b) implementing the changes that will make your operation more efficient.

You can accomplish both by implementing measures that increase efficiency, help recruiters manage workload and generally improve the work environment. Change is good … at least when the results are fast, painless and clear.

No pressure, right?!

KGTiger’s BYTE service is exactly what you need to affect meaningful change that will resonate with both company executives and corporate recruiters. Our team uses economies of scale and carefully designed processes to lower the cost of the administrative aspects of corporate recruiting while accelerating the results.

Consequently, your corporate recruiters will have more time to spend on the activities that define their profession – e.g., partnering with hiring managers and interviewing top candidates. With this extra elbow room, they’re able to deliver higher quality hires, not to mention salient and tangible value to your organization.

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Are You Asking for Headcount? Not so Fast …

Wednesday, July 7th, 2010

Now that we’re feeling the economy start to turn, it’s all too tempting to try to undo the staff and budget cuts of the past two years. The squeeze from the market isn’t as potent, and companies are again thinking about investing for the future. With this shift comes many, many requests for a few extra budget dollars – especially for headcount. Before you start asking for corporate recruiting bodies, though, evaluate your options. You’ll find you can get the desired result, but at a far lower cost.

The staffing rush that’s bound to begin soon (if it hasn’t already) is principally the result of confidence in the recovery. Even though we still have a long way to go, the light at the end of the tunnel is visible, if not yet bright. To prepare, and because confidence has a tendency to loosen budgets, companies are beginning to reassess their talent needs.

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Social Media: Recruiting Magnifier

Monday, June 7th, 2010

Social media tools may have the potential to make corporate recruiting easier … but you still have to have the fundamentals nailed down. After all, tools like Facebook, LinkedIn and Twitter aren’t substitutes for effective corporate recruiting. Rather, they’re magnifiers. If you’re already excellent, these platforms can make you even better. But, if you don’t measure up to your peers, the reach of social media sites will only highlight deficiencies.

To maximize the value of your social media investment, you need a smooth, efficient and cost-effective corporate recruiting operation.

The lure of social media is hard to ignore. The job boards, once popular and highly effective, have been swamped with resumes, users, and strategies for being noticed. Every open req is an applicant fire hose waiting to happen. With social media, recruiters can reach out to candidates or use position descriptions to attract their interest – the entire process is bidirectional, and the field is much larger.

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22% of Recruiters Looking to Social Media over Recruiting Software

Monday, May 24th, 2010

The use of social media by corporate recruiters has surged … as the use of social media by everyone has surged. What’s interesting, however, is how recruiters are using these tools.

The latest research from Gartner reflects 100 e-recruitment software customers, each with more than 1,000 employees, more than $25 million in revenue or both. Within this group, 22 percent said they were turning to social software functionality – instead of their e-recruiting software vendors. Meanwhile, 34 percent indicated that they had no plans to move to social media. Among e-recruiting software vendors, according to Gartner, many have added social media-type functionality to their platforms, and almost all of them have it on their roadmaps for future versions.

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Is Regulatory Compliance Dragging You Down?

Wednesday, May 5th, 2010

Compliance measures take time. You have no choice in the matter. Documents must be stored, checklists have to be reviewed and reports have to be prepared and filed. It’s the nature of the human resources environment today, and it comes with seemingly unavoidable cost. Most corporate recruiters do their best to streamline compliance processes, hoping that they can minimize a cost that comes with no identifiable return. At worst, they sometimes avoid recording or misreport required data. With this perspective, it’s inevitable that a good chunk of the average corporate recruiter’s time will be spent on activities that minimize risk but otherwise create no talent ROI for the company.

It doesn’t have to be this way. Outsource your compliance work – at least the rote, administrative aspects – and you can recapture more of your corporate recruiters’ time to invest in developing talent pools for future hiring needs, building relationships and collaborating with hiring managers and filling open positions.

The key is to partner with KGTiger’s BYTE team.

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Five Reasons Why “Close Enough” Is “Best of All”

Monday, April 26th, 2010

Slogans are great, but they don’t reflect reality. Companies talk in superlatives, but in the real world, they have to act from a position of pragmatism. Do this properly, and it can actually become a competitive advantage. When sourcing, interviewing and hiring candidates, being too picky can cost you time, talent and even some skills and experience that you may not have expected. Narrow searches can exclude the interesting candidates who could inject new life into your company. Take a broad view, and your company may reap many unexpected rewards.

Here are five reasons why “close enough” really may be “best of all”:

1. You’ll recapture talent
Narrow search criteria can shrink talent pools unnecessarily, and the constraints can keep promising candidates out of your hiring process. An exact match may look good on paper, but people with related skills or who are from a different industry may bring ideas and perspectives not being used in your business. Fresh eyes yield fresh ideas, and this can put you ahead of the competition.

2. You’ll cut time to hire
Being picky, for some positions, can stretch out the time it takes to source, interview and extend offers. For position descriptions (and hiring managers) that won’t tolerate flexibility, this can add weeks or months to the hiring process, making it more expensive while deferring the ROI on your hire.

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