In 2017, ENGAGE's science and research was a powerful voice in setting recruiting technology trends. At the end of the day, we are all trying to answer the question: “how are we going to find the talent that we need?”
And answering it satisfactorily has only become more difficult for employers recently. According to a CareerBuilder survey, 45 percent of HR managers currently have jobs they cannot fill because they cannot find qualified talent, while 58 percent report that they have jobs that stay open for 12 weeks or longer.
The trend likely will continue in 2018. Unemployment is at its lowest level since 2000, and 44 percent of employers plan to hire more full-time, permanent employees this year (up from 40 percent in 2017), according to the same survey.
It’s also a question that we at ENGAGE thought about and studied quite a bit in 2017, and which we discussed on our blog. It’s clear to us that while many of the efforts employers are using to better acquire talent will help—such as speeding up hiring processes and increasing college hiring—they aren’t enough, especially if everyone’s using them.
Our focus was on how employers can become more targeted and scientific with their recruiting efforts, especially in engaging and acquiring passive candidates. After all, employed talent by far the largest population in the labor pool, and a whopping 40 percent of workers plan to change jobs in 2018, according to CareerBuilder.
With that in mind, here are our top eight blog posts of 2017. We hope that they will help you satisfactorily answer that critical question: “How are we going to find the talent that we need?”
Who is the “war for talent” really fought over? Workers with in-demand skills.
To learn about how employers can do a better job of acquiring and retaining these business-critical workers, our data scientists examined supply and tenure trends for people in four key in-demand skill categories: sales and marketing, business operations, technical disciplines, and design.
And they made several interesting discoveries. For example, not only do professionals with less common high-demand skills tend to have lower median tenure, but we also can quantify the relationship between supply and tenure. Specifically, median tenure for people with a given skill increases by almost one month as the supply of that skill increases one percentage point.
Read the post for other important findings, including the major differences in supply and median tenure among the four in-demand skill categories. There’s lots of helpful information for improving your talent acquisition and workforce planning results.
If you like this post, it’s a follow-up to an earlier post that you might also want to read: “ENGAGE Research Identifies Top 2017 Employee Tenure Trends and a Tightening Labor Market.”
The 20th edition of HR Technology Conference took place in 2017, and we honored the milestone by asking our CEO, Joseph Hanna, several questions about how recruiting technologies have changed in that time, and also about where they might be going.
He had a lot to say; for example, he stated that recruiting technologies—despite the many improvements in the last 20 years—are still in the toddler stage, but that they are now developing incredibly quickly.
“When technologies are fully mature, technology will completely take over major pieces of the recruiting process,” he said. “The employer will tell the technology what they want—here is the job description or here is someone I like—and the technology will do most of the upfront work (sourcing, communication in a human-like dialog, etc.) — all the way to putting an interview on my calendar. When that happens, we’ll have reached the adult ages. And it will happen within the next three years, which will be amazing to see.”
That’s just one snippet of a fascinating conversation.
We all love something new, and we loved putting together this post on a new measure, the Talent Retention Risk score. TRR scores reveal whether workers in an industry, or even in individual companies, are more or less likely than average to be interested in exploring other jobs.
Knowing a TRR score is highly useful for workforce planning and recruiting. For example, knowing how your company’s TRR score compares against others in your industry enables you to answer a host of strategic questions, including:
Is your company at higher or lower risk than other companies in your industry of losing talent?
How confident can you be that you can recruit away talent from competitors within your industry at reasonable cost?
It’s fascinating stuff, and yes, we do list the industries with high and low TRR scores, and even break down scores for individual companies. For example, Twitter is not only in an industry with a high TRR score, but it has a higher TRR score than the industry norm. That means it likely will have difficulty attracting talent, as well as other problems, as the matrix below shows.
Who doesn’t like a bold prediction? In this post, we make one—that due to the coming impacts of robots, AI and automation, most recruiting activities will be automated by 2022—and back it up with details.
Read this post to learn which recruiting tasks will be automated, which will still be performed by recruiters, and our suggestions for having a thriving recruiting career five years from now. As we noted, “Recruiters will need to do the 20 percent of tasks that can’t be automated very, very well. Those who fail to do so won’t be successful, and may very well find themselves out of a job.”
Are you it a do-it-yourselfer? We like letting technology do the work ourselves—it’s a lot easier and more effective—but, yes, you can perform predictive sourcing yourself to identify the right time to approach a passive candidate.
Perform the three steps in this post to keep yourself informed of when passive candidates are most likely to be interested in a job conversation. It’s hard work, but the talent acquisition results you can achieve are well worth it.
Have you ever had a co-worker leave your organization, and then have to pick up the slack for their work? It’s a drag, right? You’re overworked and putting in overtime. It’s tiresome. You make more mistakes. Your morale might start to slip. You might even think about getting a new job.
In this post, using data from an Accenture study and pulling from his own experience, our CEO, Joseph Hanna, explain why he believes the saved salary from an open position will never be worth the cost on your business. Do you agree?
We love predictive technology tools, and some of the most powerful advances in HR tech are occurring in predictive technologies. The problem is, as HfS Research analyst Steve Goldberg details, some of these technologies have dependencies that can take months or even years to address. And you know what often happens? Such technologies—no matter how cool they might be—go largely unused.
As a result, Goldberg proposes a new industry metric: Time-to-Predictive-Value (TtPV). TtPV is the average length of time it takes for a typical organization to consistently experience the predictive capabilities within a technology tool or system, and therefore derive meaningful and incremental business benefits from that solution. Most organizations should look for TtPV to be as close to zero as possible.
This is a great read for anyone interested in HR tech.
You might also enjoy these two articles in which ENGAGE was featured.
This is a terrific profile of ENGAGE by online site Hypepotamus, which covers the Southeast’s innovative tech and startup community.
Learn about our artificial intelligence-driven predictive recruiting technology, how we apply our scientific findings, the biggest mistakes we see companies making when recruiting passive candidates, our funding situation, and more.
Tim Sackett, one of recruiting’s leading voices and experts, reviewed ENGAGE in January.
We are excited to continue our journey of research, science, and trend setting in 2018!