How to win in the war for talents? - Zukunft Personal Blog How to win in the war for talents? - Zukunft Personal Blog

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How to win in the war for talents?

How to win in the war for talents?

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Samuel Thomas Johnson was a young boy when he wrote a letter to the CEO of LEGO telling them that working at the company was his dream job, and what does he need to do to be hired by them. He received an encouraging answer with a list of qualifications a design engineer may need to be hired by LEGO. 15 years later as a young graduate he pursued the company and landed his dream job, working on projects like Ninjago and the smash hit the LEGO movie.

Probably in the privacy of their corner offices every CEO imagines that they too have their own ‘Sam Johnson’, whose only dream is to acquire the right qualifications and skills to be the perfect candidate and employee at their company. Unfortunately, of course this is less true today, as most people stumble into jobs and careers almost by sheer coincidence. Probably the employer had an opening at the same time they were looking for a job within the (more or less) same conditions from both sides. Their expectations will either match and a long-term employment may result, or the differences in expectations, culture, style, working hours, role and pressure become evident, and then it’s a swift good-bye, which can cost the employer a lot of money, to recruit and train a new person.

This is probably the most important challenge for the recruitment phase of the employee cycle: how to be at the right place at the right time to maximize the chances of filling the candidate funnel with the most probable fits, to make sure the best one can be offered the position and they will accept it. But what happens to the second or third best candidate? Do we just lose touch with them? They could be a great fit for a future opening…

Recruiting: How to be at the right place at the right time to maximize the chances of filling the candidate funnel with the most probable fits and to make sure that they will accept it? Click To Tweet

Excel sheets to track candidates, paper job ads, business cards – all a thing of the past? As we are living in highly exciting times, when computer science crosses paths with other sectors, as AI is coming to HR, a new day is dawning on recruitment and candidate management. Couple that with demographic and labor market trends of approaching full employment, companies are looking at innovative and effective solutions not only for the short period of recruitment and candidate-vacancy matching, but to engage longer term with potential candidates.

In our interview with Frank Hassler, Managing Director for E-Recruiting at XING, the leading online business network in German-speaking countries, which we recorded at Zukunft Personal 2017, it becomes clear, that organizations need to broaden their approach to recruiting, and not think of it as a simple transaction one moment in time, but an ongoing process, mainly focused on relationship building.

Watch the whole interview with Frank Hassler, Managing Director for E-Recruiting at XING, made by the WorkLife HUB:

 

In a world of computers, technology and digitalization, rewarding human relationships are the currency, where AI is merely the wallet. With the current debate on the digitalization of HR, one forgets, that it is not for the algorithms to build the relationships. In the case of recruiting, they merely alert companies about the right time to connect with the candidate – the quality of the interaction still depends on the persons. But how to use technology to ensure the recruiter is not wasting time tracking down candidates who are not looking for a new position?

Artificial Intelligence alerts companies about the right time to connect with the candidate, but the quality of the interaction still depends on the person, the recruiter! Click To Tweet

XING has launched the Talentpool Manager at Zukunft Personal, and the audience was well impressed. Applying this very powerful algorithm can increase candidate and job matching probability by 130%. And this can save a tremendous amount of time, money and frustration to both candidate and recruiter side, all the while making the work of a recruiter really rewarding by cutting out a lot of the painful experiences resulting from mismatching expectations.

How does this work in practice?

XING has analyzed the most relevant 50 characteristics of their users and found patterns of online behavior that can signal to recruiters, that the person is considering moving on in their career. It can be a new profile photo, and up-dated CV, active job-search on the platform, new courses and skills being developed. Once the algorithm detects the job changing intention as signaled by key behavior, the recruiter can be alerted that this is probably the right time to approach the candidate.

A key characteristic about the new world of work is the absolute necessity for long-term workforce planning. In times with the economy booming and employers scrambling for the top candidates, being at the right time, at the right place, namely in front of the candidate with an irresistible offer can – as we know it – make businesses fortunes. Just think of the world of research, engineering software and app development, where the right skills deployed by the top candidate can accelerate business growth.

Organizations are constantly evolving and so are candidates. They key here, advises Frank Hassler, is to have a really broad view on candidate relationship management. A former employee that left your company and worked elsewhere for a number of years may be a fantastic candidate again, after having acquired new skills and new experiences elsewhere. Keeping in touch with former employees, former interns, candidates who were not selected but still great options – all of them can be fantastic resources in your talent pool.

They key, advises Frank Hassler, is to have a really broad view on candidate relationship management. Keeping in touch with former employees, interns, candidates - all of them can be fantastic resources in your talent pool. Click To Tweet

But recruiting is one thing. If you are a regular user of XING or other professional social media platforms, you know that happy employees are the most powerful resource for attracting talent. So by all means invest in tools that offer you a seamless relationship management with candidates and future candidates, but it is not enough to attract them: you will also have to keep them, develop them and turn them into your employer brand ambassadors. And if you manage to get these aspects right: you can win the war for talents.

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1 Comment

  1. Christine Morgenstern

    19. December 2017 at 11:01

    Really interesting!

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