enterprise talent acquisition strategy

How to Successfully Implement Skills-Based Hiring Practices

Many jobs once required a college degree, but employers are gradually changing this prerequisite. After the Great Recession, many corporations switched from degree-based hiring to skills-based hiring due to the high demand for labor. 

This trend cropped up again in light of the COVID-19 pandemic. So what's the difference between skills-based and degree-based hiring, and are companies successfully changing the cycle? Read on to find out.

Difference Between Skill-Based Hiring and Degree-Based Hiring

In the past, employees had to go through mountains of paperwork to determine candidates’ compatibility with a role. This paperwork includes degrees, references, and assignments. Skills-based hiring emphasizes candidates’ soft skills rather than academic qualifications.

Industries that have embraced skills-based hiring include IT and hospitality, though others seem are joining the trend to reap the benefits, such as:

  • Better retention rates
  • Faster hiring time
  • Larger talent pool
  • Reduced cost of training

Steps to Successfully Adopting Skill-Based Hiring

Most skill-based hires outperform their learned counterparts in the same positions, especially in less technical fields. Research shows that the job performance margin between those with degrees and those without decreases by the day. Now that you understand the benefits, how can you implement skills-based hiring in your organization? Below, companies that have adopted the practice share tips for success. 

1. Revise your Job Description

Job descriptions are the face of the hiring process, so they should be the first place that change occurs. Rewrite your description to focus on the candidates' responsibilities, merits, and skills rather than requirements. This will increase the job application rate for a single post by 14%.

2. Determine the Must-Have Skills and Learnability

Look for candidates based on their job-related skills and not their educational background. Assess a candidate's skills even if they don't seem like a good fit for the company on paper. Don't overlook those who might seem less skilled and instead determine if they're a fast learner. 

3. Look for Alternative Learning Experiences

Some of the candidates may lack a traditional college degree, but this shouldn't exempt them from the prospective list. There are other avenues besides formal education to acquire knowledge and tangible skills, such as online courses. This should factor into your final hiring decision.

4. Get the Right Tools

Relevant technology has eased the burden for recruiters by making skill-based hiring an automatic process. Loxo produces a list of the best possible fits based on the skills employers list for the open position.

5. Introduce Skills-Based Assessments

Skills-based assessments are necessary to determine candidates' competency and knowledge. Introduce tests where candidates show their hard skills by solving field-related problems in real-time. You could also ask for their recent work samples as part of the assessment to get a better understanding. 

6. Search for Transferable Skills

Some positions in an organization may require more soft skills. Even if a candidate doesn't meet industry requirements, assess their communication, leadership, and project management skills. All of these attributes can positively impact your company.

Simplify Your Hiring Process Today

Skills-based hiring is on the rise, and it’s up to companies to keep up. Loxo will help you find talent with the right skills. We help recruiters hire better talent faster.


ways to promote your recruiting business

How Loxo Can Eliminate Hiring Bottlenecks

Enterprises across every industry experience bottlenecks. Bottleneck is congestion in a business. This issue decreases productivity and slows down recruitment. 

Hiring organizations without bottlenecks have the upper hand.This article will tell you how to eliminate bottlenecks in your hiring process by utilizing a talent sourcing platform. Read on for more insight:

Disconnect Between Job Applicants and Recruiters

Countless studies have determined that there's a disparity between how employers’ and applicant’s recruitment experiences. Over the last few years, we've realized how essential a candidate's experience is if you want to secure the best talent and improve employee retention.

Observing how the applicants interact with your career page and how they rate their experience are vital in improving your recruitment process and candidate quality.

With tools such as Google Analytics, recruiters can determine how applicants locate their career page and the number of applicants who complete their applications.

Divide Qualified from Unqualified Applicants

The more vacant roles there are in an organization, the more candidates there will be. This is great news, but manually digging through the candidate's information slows down the process.

Resume keyword scanners can help recruiters sort out and prioritize applicants based on resumes. They come in handy, especially when the role has many candidates. The scanners scan for keywords that show if applicants meet the requirements. 

Manual Data Entry and Workflows

An ATS (Applicant Tracking Systems) and CRM (Candidate Relationship Management) are among the best management tools for recruiters to increase efficiency and speed. An ATS enables the recruiters to streamline the candidate's information. 

A CRM organizes applicants and their details in a searchable database and calculates the success rate for multiple recruitment strategies. If you manually send follow-up emails, check out CRM platforms to automate your applicants' communications.

Wait for Reference Checks

Traditionally, recruiters had to send emails or ring up the applicant's former employers for reference. Although this step imparts important information, most recruiters tend to skip it because it takes up a lot of time.

Over the years, many tools have come about to speed the process and add analysis for a reference check. Reference software allows employers to provide a complete picture of the applicant.

Looking for a Talent Sourcing Platform?

Searching for talent is always a challenge, but you can avoid common obstacles with the right tools and knowledge. Before fixing any problems addressed in our guide, ensure you've verified and communicated your strategy with your team.

Bringing all your hiring tools into one platform improves recruitment and minimizes the chance of bottlenecks. With Loxo, you'll have a collaborative environment to work in and ensure you get the best talent.

Learn more about how Loxo is different from other talent sourcing platforms and how it optimizes your hiring process.


talent sourcing strategy

7 Reasons Why Half of Executive Searches Fail

Hiring executives is no easy task. According to ESIX (Executive Search Information Exchange), more than 40 percent of executive searches fail. The costs associated with this failure are enormous. So, why do executive search processes fail despite availability of resources and large applicant pools? 

Finding the ideal candidate for a top executive position can take up to 4 months and cost thousands of dollars. With the high cost of a failed executive search, companies can no longer afford to fumble the hiring process. If the chosen candidate does not fit into the position, the hiring process has to start again, resulting in the loss of more funds and time.    

To break it down, a failed executive hire costs you: 

  •   Recruitment fees and staff time
  •   Training fees and costs for replacing hires
  •   Opportunity cost
  •   Negative team performance
  •   Loss of faith in the executive
  •   Loss of customers
  •   Weakened employer brand

Why do executive search firms fail? 

There are several reasons why executive search firms don't achieve their desired results. Once you understand the factors that hinder success, you can employ the right strategies to mitigate them. 

Read on to learn the top reasons why most firms fail to find the best hire for executive positions: 

Poor research

In-depth research is an integral part of executive hiring. However, some recruitment firms make the mistake of delegating research work, and end up picking candidates who are not a good fit for the position. The digital age makes it all the more difficult. While it's now easy to find “executives” on platforms such as LinkedIn, most of them are either unqualified or uninterested in the job. 

Finding qualified executives for a top position comes down to working with people who are experienced in this kind of research. Equally important, firms should have a “point person” who oversees the recruiting process and takes responsibility for its success or failure. 

Lack of internal consensus before beginning search 

Another reason why firms fail is lack of agreement on top priorities in the search process. For example, some parties may consider candidate experience valuable, while others consider educational background more important. Lack of consensus among the top members of the organization can interfere with the hiring process.    

It is crucial for recruiters to read from the same script when hiring a top executive. Aligning needs can prevent conflicts and ensure that they present the best candidates to their clients.   

Last-minute executive hires

Hiring a candidate for an executive position requires adequate time and preparation. However, hiring firms sometimes wait until the last minute to start looking for a candidate, rushing the process. Because the hiring process requires 90-120 days, last-minute executive hires invariably fail to meet clients' expectations. 

Executive search firms should allow sufficient time to find, engage, and interview potential candidates. Conducting the process in a rush will lead to a loss of money for clients and can tarnish the reputation of the hiring company. 

Having unrealistic expectations

Setting the bar high is important when looking for executive hire, but being unrealistic can make it challenging. To avoid frustration, recruiters should ensure their expectations are consistent with the realities in the market. For instance, don't expect an executive with 15 years experience to accept a mid-level salary.  

Setting realistic expectations can ensure you find the right candidate within a shorter period of time and with fewer resources. Ultimately, it reduces the chances of failure in the quest for an executive hire. 

Failure to understand the position/client   

Whether it's a lack of clear communication or the failure to perform adequate research, hiring firms fail due to a lack of understanding of what the client is looking for. 

For example, a client could be looking for an executive to run a management team and specify that they be married, enthusiastic about sports, and social. If the hiring team does not consider these seemingly trivial details when interviewing candidates, the hiring process can fail. 

Too much focus on candidates' flaws  

While it's important to note a candidate's shortcomings, recruiters should understand that there is no perfect hire. Ideally, the hiring process should focus more on strengths and less on weaknesses. Also, seek to understand the candidate first so you are able to differentiate between flaws and ambitions. 

For example, frequent job-hopping can be considered a bad quality in a candidate. However, the candidate may have been headhunted frequently due to their unmatched skills and expertise. In other words, focusing too much on flaws can make you miss out on the best candidates. This could convey your hiring firm as incompetent. 

Shifting priorities mid-search 

Another common reason many executive firm searches fail is lack of a solid plan when beginning the search, which often forces firms to shift priorities in the middle of the hiring process. Consequently, time and money is lost. Even worse, firms end up settling for an average candidate to beat a client's deadline. 

To address this issue, firms should work with recruiters who have the knowledge and experience to conduct the hiring process successfully. Experts can ensure that there are no gaps left that could compromise the hiring process. 

Summary 

Executive hiring is an intricate process that requires proper attention and investment to guarantee success. Unfortunately, most executive search firms don’t employ the appropriate resources, which often causes them to fail. More importantly, organizations ought to remember that executive-level roles should only be handled by top talents, and this largely depends on how effective your hiring process is. Outsourcing the services of reputable and experienced hiring firms can save you a lot of time and money when hiring executives for your company.


Man Reading about Recruiter email statistics

How to Write an Effective Candidate Rejection Email

Employers screen and interview candidates all day. They also have to send rejection emails when the person is no longer being considered. 

It's difficult to write a rejection letter without severing the relationship. Recruiters continuously want to create better networks and pipelines. Just because a candidate didn't get one job doesn't mean that they won't be a good fit for a different role down the road. 

Simply ghosting candidates is not an option, as your organization's reputation will be tarnished. But how do you write an email that is empathetic while valuable as a learning circle of feedback for the rejected? Read on to find out.

Importance of Post-Interview Candidate Rejection Emails

Although most recruiters view sending rejection emails as non-essential, the act can have many repercussions for both the employer and candidates going forward. These include:

1. Impacts Company Image

Candidates who don't receive a response to a job application or interview are likely to harbor resentment toward the company. A lousy hiring reputation can hamper the company's name.

2. Offers Candidates Relief

After an application or interview, the waiting period is usually tough. Most candidates will appreciate closure instead of complete silence, even if the report is negative.

3. Creates a Network of Future Prospects

A rejection letter is not a complete denial of a job opportunity but rather a "see you soon" if another opportunity arises. Candidates who aren't fit for a particular position may still be of value in the future in other areas.

Tips on Writing a Flawless Candidate Rejection Email

The tone and language used in a rejection email can positively or negatively affect your business. Some of the best practices to consider when crafting the perfect candidate rejection email include:

  • Thank Candidates for Their Time and Effort

Make candidates feel valuable by thanking them. It's the least you can do for the time, resources, and energy they spent on the interview process.

  • Make the Letter Personal

Address all candidates by their first names in the letter and give a word of encouragement to them. Consider highlighting a specific skill based on your assessment.

  • Provide Actionable Feedback

If you receive many applications for a single post, it may be impossible to give detailed reasons for every job application or interviewee. Even so, try to provide a few suggestions that can help in future applications, like:

  • Areas they can improve their resume
  • Courses that will enhance subject knowledge 
  • Modifications required in their applications

Hiring Made Easy

Writing rejection letters is not fun, but it is necessary for recruiters. Use it as an opportunity to give feedback and help someone out. Interested to hear our thoughts and best practices? Reach out to our consultants for a quick conversation here!


ai powered recruitment

Why the Executive Search Process is Broken and How Talent Intelligence Can Fix It

The executive search process is the most challenging hiring process out there. Hiring the right executives will make or break your business. These individuals affect profits, influence productivity, and determine how your workforce operates.

Most companies create a list of requirements that all prospective candidates must meet. These key positions necessitate candidates with specialized knowledge for the job role and the industry.

Because executive positions require expertise, there are far fewer candidates for these roles than for entry-level jobs. According to a 2020 survey by Recruitment Software platform Invenias, the overwhelming challenge in executive search is talent shortages.  Another study by the executive recruiting peer networking group, ESIX, found that about 40% of executive recruitment efforts fail. Executive search firms face a multitude of challenges. The search process is difficult and expensive.

We’ve compiled the biggest challenges companies face in filing executive roles and how talent intelligence can fix them.

Challenges of Executive Search

Several factors hinder the executive search process: limited candidate pools, extended process time, hiring indecision, and lack of clarity. We’ve highlighted additional challenges below: 

Total Candidate Market

The candidate pool for executives is relatively small and easily exhausted. Many candidates won’t fit into the company culture, or are unwilling to leave their current jobs. Plus, executive roles require extensive education and experience. This narrows the candidate pool.

Relocation

Location can limit the number of viable candidates for your company. It decreases opportunities for you to meet the right candidate if you require relocation.

Total Compensation

Most executives for global companies receive generous compensation, including stocks and equity. Not every company has the budget to afford these salaries. The salary discussion is often a deal-breaker if candidates’ expectations are not met. 

Alignment with Professional Aspirations

Most exec candidates often have their careers planned out and will set their sights on specific accomplishments. If your role cannot accomplish what they have already planned, you won't go far with them. 

The Solution for High-Level Recruitment

Over the past few years, most top companies have invested in talent intelligence to win the war on talent. AI has had a massive influence on the recruiting technology landscape. The technology makes the hiring process simple by automating many core recruiting tasks.

A recent study shows that about 85% of recruiting professionals believe that analyzing data for talent acquisition is among the basic skill sets required in hiring. Savvy talent leaders are embracing talent intelligence platforms to solve issues with high-level recruitment.

Talent intelligence analyzes and collects data on current and past candidates to give you comprehensive details for choosing the right candidate. It allows you to collect data from your competition to understand talent patterns and gain insights into new employees.

Lastly, talent intelligence also improves your recruitment process. You can use AI to source candidates based on the specific skills you need. The process is fully automatic, allowing your recruiters to have more time to engage with potential candidates and build a strong rapport.

Other benefits of using a talent intelligence platform include:

  • Reduced cost per hire: Hiring costs can be high without proper planning. With more insight, you will know how to tackle issues and address them to eliminate any hidden costs.
  • Analyze competition: Talent intelligence enables you to gain market insights on sourcing top talent.
  • More diversity: Talent intelligence data is unlimited. You will be more diverse in your hiring decisions. This ensures that you have a large pool of candidates to choose from. 
  • Predict trends: Being able to predict trends places you ahead of the curve.
  • Improve Retention: Studies show that about 61% of companies struggle with talent retention. With talent intelligence, you have the keys to keeping your employees satisfied in their current position.

Start Focusing on Talent Intelligence Today

Using talent intelligence is critical to obtaining the best talent. The job market has become increasingly competitive, and AI will give you an advantage.

At Loxo, we offer effective technological tools to guide recruiters to the perfect candidates while cutting out 80% of manual processes. Learn more about Loxo for executive search to get started. 


Office workers creating talent pools

Talent Pools: 5 Ways of Effectively Creating Them

There is no question that building an effective talent pool is key to a business's success. Talent pools help streamline your recruitment strategy and maintain a continued source of top candidates in your pipeline. Simply put, a talent pool is a data bank of information on prospective candidates and past applicants. This pool continuously evolves with your business as do the open positions you recruit for. Proactive recruiters are constantly maintaining and updating their talent pools to ensure top candidates are readily available at any time. 

Talent pools also help foster relationships with candidates, keep records on previous outreach, and store notes on the individuals. This enables recruiters to quickly and effectively identify the right candidate for new roles at a fraction of the time and resources. Below, we will provide you with five sure-fire tips to help your team build an effective talent pool and up your recruitment game.

Keep Your Talent Pool Up to Date

The aim of creating talent pools is to streamline your recruitment process and simplify your candidate search. Having readily available candidates in your database can give recruiters a massive edge in acquiring top talent. While the size of the talent pool is important, the accuracy of data is just as important. It is essential to ensure that all vital candidate information such as education, skills, experiences are up to date and verified. 

While it sounds obvious, it is more difficult to maintain an up-to-date talent pool than one would think. Make sure you are consistently cross-referencing information on candidates so that your talent pool stays in line with the organization's future needs.

Leverage Technology in Creating Talent Pools 

New recruitment and sourcing technologies have paved the way for modern tools to assist in the recruitment process. This includes managing and collecting candidate data. Leverage these tools to help your team find top candidates, access relevant information, and store profiles with the click of a button.

No longer are the manual sourcing days. With new innovations breaking onto the scene, it is now easier than ever for recruiters to build out talent pools, find top candidates, and keep them stored within a database. Many tools can also help in keeping your current talent pool up to date and accurate. Use these tools to help your team efficiently grow and maintain your candidate pool.

Assess and Include Internal Talent Pools

While maintaining a talent pool of external candidates is essential, it is also important to store internal talent pools. This will enable your business to assess internal talent appropriately and identify any skill gaps within the organization. Interviews, performance reviews, and career progression can be valuable insights as new positions open within the company. 

Current statistics show that  61% of external hires are more likely to get laid off than internal hires. It is essential for in-house recruiters to maintain an internal talent pool to ensure the right talent match for their open roles. Maintaining internal AND external talent pools will give recruiters a holistic overview of potential candidates and ensure the right hire. 

Engage Previous Applicants 

Recruiters must keep qualified applicants who have engaged with the company in the past readily available within their talent pools. These candidates have already expressed interest and could be a strong hire when the right role opens. Beyond that, it is important to maintain a connection with these candidates even if no open roles are available. This will help as, when the time comes, your company will be top of mind for that individual. 

Whether it be sporadic outreach, tailored messages, or a simple LinkedIn connection, it is important to ensure you stay top of mind for all candidates within your talent pool. Find effective ways to keep your past candidates engaged, and you will have a strong and responsive talent pipeline for any open position you are recruiting for.

Segment the lists 

As a Recruiter, you have a general sense of the roles and positions that you are helping to fill. To help streamline your process when the role comes, focus on segmenting your talent pool based on these specifications. This will enable you to quickly dive into a pool of candidates whose background and experience match that position. With an effectively segmented talent pool, recruiters gain a massive edge in finding the right candidate and ensuring the perfect hire before their competitors.

These five tips will help ensure your team has a strong, engaged, and readily available talent pool for all future positions. It is now easier than ever to build and maintain talent pools. Those who are not proactive in this process will fall behind the curve. Make sure to implement these strategies to ensure your team is best equipped to make the perfect talent match. Talk to us now to learn more about the role of talent pools in your organization. 


recruiters working together to measure candidate engagement

​Measuring Candidate Engagement Virtually

​Measuring Candidate Engagement virtually has become a necessity for figuring out how interested a candidate is in the role you are presenting them. With each passing day, it is becoming increasingly apparent we are transitioning into a more virtual world. The pandemic has increased this reality, with almost every aspect of life linking into a virtual interface. Recruitment and candidates' hiring process have also gone virtual through digital platforms like email, social media, and text. Luckily, candidate engagement went virtual even before the pandemic. One challenge of virtual communication is that it's difficult to determine how engaged a candidate is in the conversation without reading their body language and facial expressions. 

Here are some ways recruiters, including directors of operations, directors of operations, or business owners, can effectively measure virtual candidate engagement. 

Application Tracking System (ATS) 

Software companies have created platforms to help recruiters and human resource agencies optimize their processes. The right ATS system can make the recruitment process faster and more efficient in selecting the right candidates. The system also allows you to engage with your candidates and track that engagement, thus creating easier talent management and strengthening team collaboration. 

How Applicant Tracking Systems work 

With an ATS system, you can create a candidate's profile with all the information you need to know about them and track the candidate's engagements throughout your working relationship. You can also customize your ATS system to suit your organization's preference. For instance, you could use viewing applications of the system. The viewing application helps you glance at all the ATS system applications by looking at the candidate's highlights, job titles, skills, and previous companies worked at. With a quick look at the highlights, you can tell whether a candidate is suitable for the job or your organization. 

The applicant tracking system can also help you automatically identify the right candidate by comparing resumes with your job description. This feature helps rank candidates based on how their resume matches the job description. This way, you don't have to review all the ​applications​, and you could only consider the candidates the system identified as a good match. This feature can also help when measuring candidate engagement. You could also filter candidates through keyword searches to select only suitable candidates by the ATS system. For example, you could search for a particular skill that you need your candidate to have, which will expel all the other non-qualified candidates. 

Automated Outreach Campaigns for Measuring Candidate Engagement  

Another strategy to effectively engage your candidates is through automated ​outreach​. This is where you communicate with the candidates and keep top talent engaged with your outreach. It is not an easy task since you want to speak to a large audience but want to maintain a level of personalization as well. You have to know your targeted audience. Therefore, it is essential to create the right message to avoid cold emails or texts. One way is by using campaign templates you can edit to suit your preference. You could also segment your emails by creating different email lists for people with other characteristics like job titles or first-time contacts. 

Using Social Media for Measuring Candidate Engagement

Social media is still an important platform when it comes to online engagements. To begin, social media platforms, including Facebook and LinkedIn, have higher engagement rates compared to other mediums. These platforms also enable you to increase your audience size and reach. Since many people frequent their social media account over email, these tools are essential for recruiters to maintain candidate engagement. Additionally, you could also use social media to grow your email list. 

Have a Career Site 

A career site is the best strategy to determine the engagement levels of a candidate through Google Analytics. It will show an in-depth detail of the candidate's activities on your website. This way, you will know which candidates followed the entire application process or where they get lost. It will also help you to get insights to improve your business strategy. Loxo is an (AI) powered recruitment CRM and ATS software to help you achieve your desired recruitment goals. You can ​contact us​, and we will be there to help you. Learn more by checking out our website.