There are lots of contrast views on the topic, is the HR and Recruitment industry dying or growing? But according to the current surveys, this is one of the most growing industries of our age. If you are a candidate, then you must have received calls from some recruitment agencies. This industry is bigger now because of the varied platforms of the modern age. There are options like social platforms, LinkedIn, apps and the online support of the recruiters.
Client is like head of a coin and job seeker is like the tail of that. The toss is costing the Recruiter.
☞ Hiring is not a goal. It is a process – of acquiring Right talent
A few years back most threatening issues on the horizon of recruitment companies was the internet. Internet advancement would change the recruitment industry for betterment but the recruitment agencies would die, that was the real fear. However, the change was just at a marginal level. Recruiters have used the platform of the internet for trading. The register process for the candidates became easier and also the searching process is more efficient and effective. The online recruitment policies have taken a fly but the current recession has changed the trend again.
HR and Recruitment industries are changing very fast and reducing all the negative myths about that. One of the most bothering aspects for recruitment industry is window shopping of jobs by job seekers. I explained about this in detail below.
At the current backdrop of the current economy, it seems to pertinent about the discussion on the topic that how the recession affects the prospective recruiters. Hiring is the last thing, while most of the people are facing an economic downturn. The hits and fritz of the economy have created a panic among the recruiters. The reality of the industry is more complicated now. There also some internal recruiters, who work especially within a particular organization, they had put in their hiring needs a precarious position. Most of the companies are finding the way to trim the cost with single out recruiters for their first ever cutbacks. The external recruiters or the third party recruiters are actually taking the benefits from those types of cutbacks.
☞ Recruiting is a cycle. Hire, Quit. Hire, Fire. Hire, Retire.
As the companies are reducing their in-house hiring proficiency, the certain critical positions are cropping up which require the real talent attainment skills. Most of the companies are forced to create a limit on hiring after recruitment department trimming and the third party recruiting companies are filling up the void. This type of outsourcing is also proving the job security to the job seekers.
☞ Pros of the Industry:
There is no doubt that recruiting is actually a sales job. The main target of the recruiters is pitching constantly. They pitch for getting the potential candidates only while they are working on an outsourcing project. They provide the best ever candidates on multiple companies if they are on a good commission base. Most of the recruiters are now season professionals due to the aggressiveness of the industry. For any successful placement, these types of contract base recruiters charged a certain percentage of the first salary of the candidate. High level of the commission also helps them to earn a high level of yearly income, sometimes it is more than the VP position’s salary. Read 6 Reasons Why You Should Start a Start-UP
☞ Macro & Micro Level Understanding of the Recruitment Industry :
For the outsiders, the recruitment industry is growing exponentially with a lot of opportunities from clients who are ready to investing in acquiring best talents and nurture them. It is a win-win market for investors, job seekers as well as recruiters. However, the micro level is not as imaginative and glossy as the macro level looks. The industry has been polluted with market stinkers who are slowly taking down the recruitment market. Read USA Job Market & Economy – Still A Heaven? for some useful notes.
☞ Window Shopping of Jobs by Job Seekers :
With the advent of digital age, most things became ‘handy’ including job search. You can search a job in your palm using a smart phone while our previous generation used to travel/walk many miles carrying their bio-data and return home with disappointed face after seeing ‘No-Vacancy’ boards. They used to search and cut the newspaper ads every single morning. With lot of comforts the technology is offering, the candidates have an option to browse, filter and apply for hundreds of jobs at a time.
Many employees are using this in a different direction. They are applying for a job if they have not received what they want from their current job like promotion, salary hike etc. They promise the recruiters that they would join the new company but would use the new offer letter as a weapon in the present company for what they need. Most of the cases they would not join the new company because their ego would be satisfied by the company they are working for. Meanwhile, the recruiters would suffer as they would have done lot of work and also would have promised the client on the joining date. Everything goes for a toss.
☞ LinkedIn is the main reason for death of Recruitment Industry:
Job seekers have lost the trust of the recruiters. This is the main reason why they are not getting much quality leads.
LinkedIn and other social media is being used and abused. LinkedIn have a new breed of spam-recruiters. They are following a lazy “spam and pray” philosophy. You can see hundreds of messages like “Like/Comment if you are looking for Job”, “Comment your email id if you are looking for a job in XYZ company”. I had personally seen many people commenting or sending their information as a private message and disappointed after waiting for a response from the recruiters.
This happens mainly because the recruiters are sales reps but not match-makers. You should be a good match maker of client & candidate to be a good recruiter. Most inexperienced are learning the bad practices from the experienced ones.
Candidates always look for jobs which give us better learning opportunity, designation and better money. Jobs in United States are popular because of the salary packages they offer. Here are the 4 jobs that are generally considered to be of high value in terms of salary payments.
Most of the HR persons need to focus on the employee retention and the managing benefits. By following some effective and smart tricks, recruiters are now giving more candidates to the company. We can tell that the industry is changing for better.