In an increasingly competitive job market, finding the right talent can be challenging. The talent shortage has nearly doubled in the past decade; most businesses in India face more difficulty in attracting talent now than ever. Furthermore, businesses cannot operate to their full potential while there is a dearth of talent. This leads to a war for the best talent.
One of the biggest challenges recruiters face today is the fact that some of the best candidates are passive. Engaging them is more difficult than active candidates as it requires sourcing techniques and persuasion. Today’s candidates discover and consider employers the same way consumers find products, hotels, and restaurants.
That’s why employers need a methodology that attracts passive talent. Recruitment Marketing is making waves globally because the old way of transactional recruiting simply doesn’t work anymore.
Many organizations across the globe are recognizing the potential of Recruitment marketing and are proactively changing their current recruitment strategies. Genpact, which has always prided itself on innovation, grew quickly between 2016-17 and thus, raised requirements for new hires. As a company steeped in bold and innovative ways of thinking, they understood fairly quickly that the traditional approach to recruitment marketing (based around job boards and dedicated online recruiting platforms) wasn’t going to meet their needs efficiently.
Only 20% of potential job candidates are actively seeking new employment at any given time. This means that by focusing on traditional job platforms like Naukri or Indeed, recruiters are cutting themselves off from 80% of candidates.
To combat these issues, Genpact needed an integrated solution that would allow them to manage multiple campaigns quickly and efficiently, a platform on which they could develop and manage a comprehensive recruitment marketing campaign across multiple channels, rather than running campaigns in silos.
- Companies employing recruitment marketing strategies are 3x more likely to have the quality of hire above competitive benchmarks
- These Companies are 13% more likely to have a higher percentage of employees who rate themselves as highly engaged.
- They also generate 3x more leads than traditional methods
As a result, Genpact was able to optimize their time-per-higher by a factor of three and decrease the amount of time they spent promoting each job by 80%.