Unit 51-LO1 Explain the nature and scope of the recruitment industry-BTEC-HND-Level 4 & 5

Course: Pearson BTEC Levels 4 and 5 Higher Nationals in Business

The recruitment industry covers a very wide range of discussion topics. Recruiting professionals need to understand the specific needs of their clients for them to have an organized and profitable business model. That means knowing how to tailor a service, understanding the company culture and what can be expected from competing organizations, as well as understanding employer characteristics and what they want from new hires. Along with this line of reasoning, the recruiter must also understand what it takes to be successful for an individual in the job market. This includes understanding what the education level is required for different positions, analyzing career paths, as well as gathering information on company salary expectations.

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Also Read: Examine the role of executive recruitment for effective talent acquisition

The nature and scope of the recruitment industry:

Defining recruitment, the recruitment industry, the value, and the scope of the industry

Recruitment is the searching out and enlisting with an organization of a qualified applicant for a vacant job position.

The recruitment industry consists of multiple fields, such as technology, engineering, finance, academic studies, and healthcare. What defines these fields is that they are industries where employers are having difficulties filling out vacancies because of a lack of willing candidates.

The value of the recruitment field has grown drastically over time, with more than double in global revenues between 2010 – 2020 expected (£350 billion yearly). This reflects that organizations have understood all along with the importance of recruiting new staff within their company and it has become an inevitable process to develop its business.

The scope of the industry is very extensive. It encompasses organizations of all sizes, in multiple countries across the globe, looking to fill out positions for sales executives, accountants, managers, and much more.

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Defining executive search and executive recruitment

Executive search is a recruitment process that typically lasts for more than one year. It includes an executive who specializes in top-level positions and conducts both external and internal searches to help the company identify potential candidates.

Executive recruitment is used when companies have a particular position available but lack appropriate candidates within their organization or networks of contacts. This type of person is sometimes called an “outsider” because they are recruited from outside the company’s own employee pool or social circles.

The difference between recruitment and talent acquisition

It is a common misconception that recruitment and talent acquisition are the same thing. Recruitment is the process of filling open positions with qualified candidates of choice; in contrast, talent acquisition is the activity put forth to discover hidden economic value by identifying and hiring underutilized segments of society such as veterans, people on disability status, or those returning from active military duty.

Recruiters fill roles while mediating between an organization’s needs and a candidate’s skillsets. They have oftentimes outsourced partners at a staffing agency who provide various services including pre-screening, screen-testing, interviewing, and help with branding strategy. The recruitment process aims at bringing relevant career opportunities to candidates that fill vacant roles in organizations most effectively so it considerations for candidates’ interests and experience.

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Different types of recruitment agencies and consultancies

Different types of recruitment agencies and consultancies are needed by companies for different reasons. Some companies need an inflow of top talent quickly, and therefore they will look to any company that has a large pool of people for them to recruit from. Other companies may decide to focus exclusively on one type of niche that they know very well.

This means we have a wide range of options available, including recruiting agencies, headhunters, or bespoke consultancies.

A staffing agency is in charge of a company’s recruitment process; they act as an intermediary between the employer and potential candidates. Staffing agencies can advise on their client’s hiring strategies and help companies find potential applicants for vacant roles.

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Recruitment methods and techniques:

Different types of recruitment methods e.g. internal recruitment, social media recruitment, website advertising and web sourcing, use of third-party agencies

Types of Recruitment Methods

Internal recruitment may be the most costly approach for finding prospective applicants, but it is often the best way to promote your company and attract high-quality, committed employees.

Social media recruitment is one of many options for marketing. It has become popular because it can be done from anywhere on a low budget with no training!

Website advertising and web advertising are two powerful marketing tools that are getting more expensive over time. But for people who know what they’re doing, these two mediums can draw millions of prospects every day.

Web sourcing is a recruiting strategy for finding new candidates using the Internet. This is one of the fastest-growing methods because it can be done at any time and in almost any location.

Using third-party agencies to find talent comes with its own costs and benefits, but this is an area where you pay someone else to do it.

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Recruiting metrics and key performance indicators for monitoring effectiveness e.g. tracking quality of sourcing, quality and costs of hiring, acceptance rates, time to hire, retention

Recruiting Metrics are the data points that are most commonly used to measure a company’s performance in recruiting activities. This can range from evaluating hiring for specific roles, measuring recruiting efficiency by how long it takes to fill a given position or monitoring the success ratio of job offers and headcount projections versus actuals on an ongoing basis.

Key performance indicators are essential to measuring an organization’s efficiency and are vital for organizational decision-making. These key metrics can be broken down into several categories depending on what you want to track, but the most important thing is that you choose a subset that fits your needs in different areas of the company.

Some examples are customer service results, quality of sourcing, and cost-per-hire percentage. A few other suggestions might include responsiveness to Social Media channels and acceptance rate on job application posts.

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Global recruitment requirements e.g. understanding the local culture, local work ethics

Understanding the local culture and ethical requirements is an essential part of your job. From the recruiter’s standpoint, understanding local cultures may help you find better talent in a specific region who can make a greater impact on your organization if given a chance to work in their own country. From the candidate’s standpoint, it makes it less likely that they will be interviewed by someone with little knowledge of their culture and be judged or overlooked based on misunderstandings or mischaracterizations about race, religion, disability status/disclosure, gender identity/expression/sexual orientation, etc.

Talent acquisition planning and strategies:

Setting long term objectives

The best way to go about setting long-term objectives is to make sure they are achievable by using SMART criteria. Choose objectives that are Specific, Measurable, Attainable, Relevant, and Timely. To be considered “achievable,” a goal should typically be:

Specific– The objective must be clear and concrete.

Measurable – You must have tangible ways of knowing when the objective has been achieved or not achieved.

Achievable – The goal should challenge you enough that it can’t be readily achieved but leave you feeling confident that you will achieve it with continued effort.

Relevant – It may also be helpful to assume that your goals are being set as part of a larger organizational process and that the goal might be relevant to other goals within this organizational context.

Timely – To be considered timely, a goal must also have an endpoint or date in which it needs to be achieved. Goals with no endpoints are not very useful because it is unclear when they can start being measured against as well as when you can take the next step towards achieving them.

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Building a diverse applicant pipeline to meet current and future needs

The best ways to populate your applicant pipeline for long-term success are largely based on employer branding. You can’t attract diverse applicants if you’re not known in a way that makes diverse candidates interested and excited about applying. If you want to be seen as an attractive workplace, do the following:

1) Train managers with unconscious biases. Diversity needs to start at the top of an organization if you want it to filter through and down all levels of leadership. Unconscious bias training is vital because hiring managers who already believe they don’t discriminate still show demonstrable bias when it comes to interviewing candidates.

2) Invest in company culture early – When people feel like they belong at work, their productivity improves, turnover decreases, and overall employee satisfaction increases. Invest in the experience you want your candidates to have by creating a culture early on that makes it clear this is where they belong, and you’ll be able to attract diverse candidates who are ready to work towards these same goals.

3) Embrace the fact that diversity isn’t going to come easy – If every candidate saw themselves reflected in the pool of available job candidates, they would already be hired. Making diversity a reality means putting yourself out there and asking for help. Don’t underestimate how much work this will take, but don’t discount your value either.

4) Give back to your community – Community service allows you to give time back while also putting your face out there in front of diverse groups. This is a valuable tactic because it shows you understand that diversity means more than just putting an “equal opportunity” ad on the job boards and then crossing your fingers for the best candidates to come rolling in.

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Strengthening the company brand

Strengthening your company’s brand is very important. It can do a lot for both new and returning customers. For starters, it should be clean and clear with the overall message being easily understandable. When choosing a graphic image, make sure to keep colors consistent with your existing branding to not confuse customers as they navigate through your site or social media account. Finally, have short concise messages that are easy to read, repeat them in different ways (make graphics about them too), and promote updates regularly on all of your accounts.

Proactive recruitment and transformation of onboarding and continuous improvement

Implementing proactive recruitment and transformation of onboarding is a decision that hinges on whether you’re in an environment where employees stay with the company for less than 3 years.

If your employees are staying with your company for less than 3 years, you should implement more proactive recruitment and transformation strategies. However, if they are staying with you longer than 4 or 5 years, then implementing more proactive recruitment and transformations would not be a strategy worth exploring.

Proactive recruitment and transformation of Continuous improvement

1. They create a culture that values cost-cutting principles like lean manufacturing, continuous improvement, etc.

2. Frequent forums for discussion on safe work practices in all phases of production including identifying obstacles to adopting those practices.

3. They train production employees on engineering methods to improve worker performance and efficiency by improving operational team cooperation

4. Employee self-management with any internal initiative resulting in an increased role outside of the facility. It’s a way better future for many people as it is dedicated to perfecting society as we know it now rather than changing things out of need or wants because let’s be frank something currently doesn’t exist.

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