In 1994, the web browser Netscape was released. That product rollout helped spark the digital revolution and made the World Wide Web an integral part of our daily lives.
That, in turn, created entirely new industries and upended the status quo. Take digital marketing, for example, which has grown rapidly thanks to its increased efficiency, scale, targeting capabilities, and ROI.
The same is happening with on-campus recruiting. Because it’s so time- and resource-intensive, on-campus recruiting hurts your ability to attract and hire top talent. In fact, it makes you work harder, not smarter, especially compared to online recruiting, which drives efficiency, helps you reach a broader and more diverse candidate pool, and lets your team spend more time with qualified candidates.
While 78 percent of potential hires want to be courted for a job, it’s not only about the chase. It’s about how you’re chasing. Because if you’re spending countless travel hours and a large portion of your budget on ineffective career fairs that only 53 percent if Gen Z attends, then it restricts all your other efforts. Like finding more top talent, for instance.
That’s why it’s important to measure your sourcing effectiveness so that you don’t get career fair FOMO and try to go to every event. Also, don’t just recruit at colleges based on prestige. Because qualified candidates can come from anywhere, not just the top 50 schools. (And who says they’re the “top” schools anyway?)
Instead, devote more resources to job sourcing platforms. For starters, it levels the playing field for all candidates, offering them all the same exact candidate experience. Also, it significantly reduces your cost-per-hire, cutting it from $6,275 per employee (including costs for on-campus recruiting personnel) to $2,027.
Working with outside recruiters to provide initial candidate screenings helps ensure your team is working more efficiently. Because if they’re filtering out unqualified candidates, guess what that means for your team? They get to spend more time with only qualified candidates.
Plus, working with outside recruiters helps your candidates too. Outside recruiters can provide customized feedback that helps candidates hone their soft skills—or, as we like to call them, foundational skills—and prepare for their next-round interviews. That means, by the time you meet those candidates, they’re better prepared and know what to expect.
Doing that can cut your time-to-hire by as much as 50 percent. That’s what Nasdaq found when it partnered with WayUp Source, Screen & Coach to overhaul its early-career recruitment process.
So, if you want to work smarter, not harder, take your cue from the shift from print to digital marketing, and start devoting more resources to digital recruiting. Your team will appreciate a more efficient use of resources, and your company will love the increased top talent it’s hiring.