Professional Documents
Culture Documents
Recruitments
The Answer to the
Talent Economy Crisis
Table of Content
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Introduction A Data-driven Challenges in In Conclusion
Approach Campus Hiring
Hi,
Diversity fosters creativity. We With the exponential rise in the number of companies,
need to generate the best ideas each battling it out for available resources, including a
from our people in all levels of quest for the right talent at the workplace, the already
the company and incorporate limited resources seem even more crunched. In the realm
them into our business practices of talent within the available human resources, the
shortage of skills, knowledge, and attitude is making it
FRDRIC ROZ
increasingly harder for companies to work effectively. In
CEO, LORAL USA
addition, the continuing changes in technology and the
grow quick mind-set of the younger generation of
employees, poses some serious roadblocks in acquiring
the best talent.
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Companies today do not seem to lack funds or the research agency affiliated with the United Nations. If
willingness to use these funds for various projects and companies were to realign their recruitment strategies,
programs. However, every new initiative requires talented and ensure that employment practices retain their best
and skilful people to lead them, without which, even deep talent, this problem can be alleviated dramatically.
pockets would not be of any use. Companies are therefore,
now realizing the criticality of talent, coupled with capital, The Talent Economy has a mission to help and guide
as being the driving force behind innovation and growth in companies reduce this shortage by not only hiring the best
the 21st century. talent but also retaining them for the longest time.
Campus hiring seems to have become the buzzword
The most shocking aspect of this shortage of talent is that hiring fresh young minds that would be easier to mould
there are at least 205 million people unemployed - as and yet who would have the drive to hit the ground
reported by The International Labour Organization, a running.
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A work performance.
No. of Graduates
Data-driven No. of Open Positions >
Approach The fact is that each year the number of youngsters that
graduate is a lot higher than the number of open positions
in various organizations. Given this information, it seems
strange that companies have such a hard time finding the
perfect fit for their job roles. At the same, time the
inability could also stem from the fact that companies
seem to use the traditional methods while on recruiting
drives in campuses. Simply using stand-alone recruiting
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technology like the Applicant Tracking System (ATS) or Campus recruitment is a combination of hiring, event
other such methods, seem ill equipped to manage the management, promotional activities, and logistics. Despite
large-scale exercise of campus hiring. The ATS app advancements in SaaS technology and integration,
enables the electronic handling of recruitment needs and stand-alone recruiting solutions fail to take into
can be implemented or accessed online on an enterprise consideration all these aspects, often leading to the failure
or small business level, depending on the needs of the of such a drive.
company. The ATS is very similar to the customer
relationship management (CRM) systems, but is designed Actionable analytics can be a differentiator for your
for recruitment tracking purposes. organization. Mapping talent data helps organizations
mitigate current pain points and ensure that their hiring
In many cases they filter applications automatically based drive is a lot more successful gaining for them the crme
on given criteria such as keywords, skills, former from the current talent pool. Using data is advantageous
employers, years of experience and schools attended. This since it points to those conclusions that even seasoned HR
has caused many to adapt resume optimization techniques professionals may not have thought possible. This method,
similar to those used in search engine optimization when therefore, results in saving time and effort, and making the
creating and formatting their rsum. most informed hiring decisions. Given that the hiring
process is a time bound and yet highly intense activity, it
The current recruitment tech solutions do not take into would behove companies to do it right the first time. Hiring
consideration that campus recruitments have longer lead the wrong persons would cost a company in terms of
times and have an entirely different process and time, money, effort, and long-term problems, and the
stakeholders than other recruitment methods. persons recruited too would not be able to give their best
due to being disillusioned.
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Using Data
employee using existing sources.
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Research and data analysis used for recruitment by the analysis of campuses such that they can hire the best
bank revealed that the most effective employees came performers, and who would be more likely to remain with
from a wider variety of institutions, including five specific the organization for a longer duration and remain aligned
universities and additional three certification programs with an organizations competencies and expectations.
rather than from top academic programs. The result was a
26% increase in branch productivity, the rate of conversion Methodology Applied:
of new recruits grew by 80%, and the net income rose by
1. ASSESSMENT HEALTH
14 %.
overall performance analysis of candidates is
based first on assessments
2. DEMOGRAPHIC ANALYSIS
80% 26% 14% analysis is conducted on parameters such as
college tier, highest qualification, and age
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The Campus The Campus Analysis Report proved most handy for
Syntel, a leading global provider of integrated IT, digital
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Challenges
While most companies believe that campus hiring
is an effective recruitment tool, 49% agree that the
process they follow is not managed well
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The fact expressed by Mr. Sequeira, makes it necessary for companies to revamp their
campus recruitment strategies. To start with, the ensuring that they communicate their
culture, values, and growth potential to prospective employees, in a lucid and engaging
manner, would help to attract the new-age talent. With successful brand positioning,
companies can expect to retain these new recruits for a long time, and get the best work
performance from them.
As mentioned, the planning and setting up of the campus hiring drive is a long and
tedious process, which uses up large amounts of already limited resources of
companies. Companies visit several college campuses during their drive, and it
becomes imperative to hire not just a large number of candidates but also the very best.
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Conclusion
arduous tasks for any company. It must be done right to
ensure that only the very best talent works for the company,
ensuring the progress and success of the business.
Fin.
higher towards the end of their academic journey. Mettls
expertise and years of experience can make the toughest
campus recruitment drives a win-win exercise for all.
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What is Mettl?
Mettl is a Saas based assessment platform that enables organizations to create
customized assessments for use across the entire employee lifecycle, beginning with
pre-hiring screening and candidate skills assessment, training and development
programs for employees/students, certification exams, contests and more.
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