Published by MBA Skool Team, Published on September 09, 2012
We are here in 2012 and talking about Talent Crunch?? And that too in a country with over a billion population!! Perhaps there is some problem with our approach to finding talent. Perhaps it has to be modified to be fit in 2012. Let us see how.
It doesn’t matter whether we are in 1970s, 2000s or 2100s, the same old clichéd truth will always be applicable “Talent is the most important asset for any organization”. However the definition for talent keeps changing with time. We have moved from “Fordist” model of work to the “Toyotist” model of work i.e. shift from Generalist to Specialist, Individualist work to Team-Based work, Task oriented work to Complex Knowledge arena and so on. But have our talent acquisition approach been dynamic enough to change with these very evident changes? A very obvious answer is no.
There is, no doubt, no dearth for talent provided it is searched for in the right place in the right manner. We can analyze better with the use of following model.
Companies generally care for the people in the “Green Circle” i.e. the people possessing the required skills. They do not pay attention to the fact whether or not the candidates are genuinely interested in the company. What they should be looking for instead is the pool in overlap of the orange circle and the green circle i.e. the candidates who are interested in the company as well as they possess the required skills. Similarly there is an enormous amount of effort required on their part to focus on the pool lying in the overlap of the blue circle and the green circle i.e. the people who are there in the company and have the skills required but are not engaged.
Now the big question arises, how to find people who have the skills as well as they are interested to join. For this, we have the most revolutionary thing of the past few years’ i.e. social media. Social media could be seen as a huge talent pool wherein people with all the required skills are available in abundance. There is only a need to attract the ones who are interested in you after finding the target set of population. The candidates can be filtered on the basis of skills, location, experience and education.
Below is a five-step process which can be incorporated for recruiting through social media
1) Create: It is first of all very important to have a presence on the social media. Hence a well build website is a must along with presence on major networking sites such as LinkedIn, Facebook, Twitter, etc.
2) Build Relationships: It is also important to engage the people on the network. Some tools that could be used for this purpose are Company News, Events, Job Postings, etc.
3) Involve the current employees: Involving the current employees on the network could be a very benefitting move. The potential candidates are likely to be attracted more to the company on seeing the good ratings and comments from the employees of the company rather than the advertisements.
Clearly, there are positive reviews regarding CISCO Company and it will certainly help in reinforcing their positive image as a good employer in the talent pool.
4) Attract: Then the candidates with the required skills could be attracted as and when the need arises.
5) Evaluate: The final step is the evaluation of the hires via this mode and judging the effectiveness of the process on the basis of the quality of new hires.
Currently, there are around 150 million professionals registered on LinkedIn and there is an estimate that only in a period of two years i.e. till 2014, all the professionals in US will be there on LinkedIn making it very easy for the recruiters to find and then attract the right talent. For example if a start-up IT company wants to find few experienced professionals who have worked in major IT giants, then it can just go to the site and apply the search criteria and the list appears which of course can be trimmed down according to the requirements.
The cost involved will be much lower as compared to the cost incurred in the traditional approaches. Also the quantity and the quality of the candidates will be much higher than before. According to a recent survey by Jobvite, a leading platform for recruiting on social web, the companies using social platform for recruiting are now attracting more candidates with better skills while reducing the time required for hiring. What a package!!
LinkedIn is not the only avenue for the recruiters on the social web. Some other option includes Facebook and Twitter which have 845 million and 123 million users respectively. These can also be explored by the companies but they are not as successful as LinkedIn is, but in the coming years they will be used for sure.
The above figure has been taken from the survey results of Jobvite. It is clearly evident that there is an increase of 49 % increase in the quantity of the candidates and more importantly a 43% increase in the quality of the candidates when the companies started using social media as their recruiting tool. This proves the worth of social media for talent acquisition!!
Some of the other advantages of using social media for recruiting purposes are
Lower cost as compared to traditional recruiting approaches
Increases Job Visibility as there are millions of people in the target population
Increases the Brand awareness in the market
Increases the quality and quality of referrals
So we have seen that the social media can go a long way in helping the recruiters to recruit better, faster and also save cost to hire. It is not at all suggested that the traditional recruitment approaches have no meaning in the modern world but the fact is that social recruitment is a tool to increase the effectiveness of recruitment techniques in order to serve the organization’s needs in a more efficient manner.
This article has been authored by Ankesh Jindal from MDI Gurgaon.
Views expressed in the article are personal. The articles are for educational & academic purpose only, and have been uploaded by the MBA Skool Team.
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