Recruiting is one of those careers that’s just bound to have its own unique challenges. After all, we do work with the very complex issues surrounding people and how they fit into the business world.
No two days are ever the same, and issues come up that are impossible to predict. There are also constant changes in terms of technology that shake up the way recruiters do things, adding to the mix. However, there is nothing more exhilarating than finding the right person for the right client. This is what recruiting is all about.
Recently, I had the privilege of talking with Laleh Hassibi, Senior Manager of B2B Content Marketing at PayScale, a leading firm in cloud compensation data and software. With the release of their 2014 PayScale Compensation Best Practices Report, PayScale has shed more light on some of the biggest concerns that businesses face in terms of recruitment and HR management this year.
Since compensation and recruitment are so closely tied, it’s important to take note of the results of this survey, which revealed:
In our interview, I asked Ms. Hassibi what she believed to be the biggest challenges that companies face in 2014 in regards to their recruitment and compensation strategies. She stated that. “As the economy continues to recover, companies have big plans for workforce expansion and financial growth.” Further adding that,” The big challenges are not only to find new talent to support that growth, but holding on to the talent companies already have who are going to be tempted to jump ship for better opportunities. This balancing act of managing growth while effectively attracting new talent and retaining existing talent is the big challenge of 2014.”
It’s clear that recruiters will have to be able to offer a lot more to the best talent, over and above average salaries. Organizational growth and innovation will be dependent on a strong compensation and retention strategy.
The PayScale report revealed that many of the companies that participated in the survey planned on using social networks to source high-demand talent. Ms. Hassibi mentioned that, “Half of all companies surveyed reported a lack of qualified applicants for open job positions. The hardest positions to fill were technical/engineering positions and medical/clinical specialists.” Here’s how the survey indicated companies would be turning to social media recruiting as the competition for these skilled positions heats up:
Not surprisingly, the Information, Media and Telecommunications industry had the largest reported skills gap and is also the most likely industry to use social media for recruiting (77 percent).
In workplaces around the world, there is an increased use of social networks by Human Resource and Recruitment teams. Social media has quickly gained popularity and acceptance as a direct communication tool between employers and employees. The PayScale survey advised that:
While the recruitment world may continue to strike a good balance between traditional and modern methods of sourcing great talent, one thing remains. The recruitment world is evolving to meet the challenges and demands of securing the most in-demand skillsets and social media is a powerful tool for accomplishing this. As evidenced by the special PayScale report, social recruiting has become a much more acceptable means to connect with and attract top talent.
Huge thanks to Laleh Hassibi, of PayScale for sharing her expertise and this exciting report with Social-Hire! In the annual survey of best practices, nearly 5,000 companies told PayScale what happened in 2013 and their expectations for 2014. The results may surprise you. Download the complimentary 2014 Compensation Best Practice(s) Report here
View the interactive graphs from the report here
Back to Recruitment blogs