A new wave of recruitment models is bringing a fresh approach to agencies. New frameworks out-do older models in the race to place talent.
With a typical hire costing up to £11,000 and taking around 27.5 days, it is not surprising that recruitment agencies look for the best strategies to work by. Therefore, the task is to find whether new wave frameworks are more productive than older systems.
Older models questioned over their reliability
Older models, which teach a funnel framework to recruiting, are being questioned over having a short-term approach. These linear systems focus on the generation of leads – finding many applicants for one role. Additionally, the systems require a fresh start when a new role becomes available. Most importantly, Funnel frameworks cost agencies time, and in some cases valuable candidates. As a result, agencies who use these frameworks disregard potentially high-quality candidates when a role becomes filled. The new wave frameworks, in contrast, bank store those candidates traditionally lost for future roles.
Newer models bring a fresh approach
Newer models use a marketing-centric approach and take a wheel-like perspective to recruitment. Wheel frameworks are candidate-centred, unlike the role-centred older systems. Additionally, they apply marketing principles to the practice of recruitment. Consequently, recruitment experts are favouring these new wave models for their quickness and effectiveness. Agencies who use these approaches organise applicants into talent pools. Candidates can therefore be quickly, and cost effectively managed for the future.
Brexit pushes newer models to the forefront
Labour shortages are a prevalent issue effecting the current employment climate. Recruitment agency Bespoke Careers claim the 2016 referendum is to blame for talent shortages. It is reported that over 7 per cent of the UK’s labour force is taken up by EU nationals. It is not unexpected then, that a reported 44% of employers experienced an increase in recruitment struggles in 2018. In line with this, experts from various sectors such as architecture, are experiencing skills shortages.
Experts are calling the current climate a candidates’ recruitment market. The statistics support this notion of a candidate’s recruitment market. Between 2017 and 2018, the average number of applicants for low-skilled, medium-skilled, and high-skilled roles all dropped, according to reports from the 2017 resourcing and talent planning survey. Economic volatility means the recruitment climate is in a tricky state. As a result of these Brexit-caused skill shortages, older models are forced to evolve into the candidate-centred new wave models.
In short, wheel frameworks take the lead for organisational traits as well as time-saving abilities. The new wave models also keep in line with current recruitment climate states more appropriately than their older counterparts do.
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