The summer holidays are almost over, and the silly season is now upon us.
So in this addition, Jump Advisory Group, we take a look at the difference between Operations Effectiveness and old-school recruitment, we review the Office of National Statistics August Labour market review, we look at New Business development strategies, and we have a tongue-in-cheek review of the day in the life of a recruiter or is it?
In the rapidly evolving recruitment landscape, staying ahead of the curve is essential for attracting top talent and ensuring Operational Effectiveness. The advent of new technologies, particularly Customer Relationship Management (CRM) systems, Automation, and Artificial Intelligence (AI), has transformed the recruitment process from an outdated, manual approach to a streamlined and data-driven strategy. Let’s delve into the key differences between these innovative approaches and the traditional manual recruitment process, backed by factual insights readily available online.
Efficiency and Speed
In today’s fast-paced world, time is of the essence. According to a study conducted by LinkedIn, companies using AI in their recruitment process reduce time-to-hire by up to 50%. On the other hand, manual processes often involve sifting through stacks of CVs and manually sorting applicants, which can take days or weeks. With a new CRM, Automation, and AI-driven system, tasks like CV screening, interview scheduling, and candidate matching can be automated, drastically reducing the time required to find the right fit. This means your recruiter can spend more time candidate and client-facing.
Data-Driven Decision Making
Data-driven insights have become invaluable in making informed recruitment decisions. A report by Deloitte found that organisations that use data analytics in their recruitment process are twice as likely to improve their recruitment efforts and three times more likely to realise cost reductions. A modern CRM system captures and analyses data from multiple sources, providing recruiters valuable insights into candidate behaviour, sourcing effectiveness, and overall recruitment strategy performance. Such data-driven decision-making empowers recruiters to tailor their approach for better results. The data doesn’t lie!
Personalisation and Candidate Experience
Candidates today seek personalised experiences throughout their journey, from application to onboarding. Traditional manual processes can lead to delays, lack of communication, and a generic candidate experience. With AI and CRM systems integration, recruiters can create personalised communication journeys, sending timely updates, relevant job recommendations, and engaging content. According to IBM, 66% of candidates believe AI can positively impact the candidate experience, demonstrating the potential of technology to enhance candidate engagement.
Diversity and Inclusion
Diversity and inclusion are critical components of modern recruitment strategies. Research from Glassdoor reveals that 67% of job seekers consider workforce diversity an essential factor when considering job offers. AI-powered tools can help remove bias from recruitment processes, ensuring fair and equal opportunities for all candidates. Algorithms can anonymise resumes, focusing solely on skills and qualifications, leading to more diverse and inclusive hiring practices.
Although this is the weakest part of new recruitment and is still up for debate, it is massively improving.
Scalability and Consistency
As companies grow, their recruitment needs also expand. Manual processes can become overwhelming and prone to inconsistencies. Automation and CRM systems ensure that processes are scalable without sacrificing quality. A survey by CareerBuilder found that 55% of HR managers spend the most time on tasks that should be automated. By automating repetitive tasks, recruiters can focus on strategic activities like relationship-building and candidate engagement.
Predictive Analytics
Predictive analytics is another game-changing aspect of modern recruitment. AI algorithms can analyse past hiring data to identify patterns and predict future hiring needs. This enables organisations to proactively source and engage candidates for upcoming roles, reducing the time and resources spent on reactive hiring efforts.
In conclusion, the shift from manual recruitment processes to CRM, Automation, and AI-driven strategies is inevitable and highly advantageous. The statistics and insights above underscore these technologies’ transformative potential in improving operational effectiveness, enhancing candidate experiences, and enabling data-driven decision-making. As the recruitment landscape evolves, embracing these innovations will be pivotal in staying competitive and attracting top-tier talent, improving candidate flow and client retention.
The UK has witnessed intriguing developments in the second quarter of 2023. Let’s delve into the numbers that shape our workforce:
Employment Rate Update The employment rate in the UK for April to June 2023 stood at 75.7%, slightly dipping by 0.1 percentage points compared to January to March 2023. Changes among full-time employees and the self-employed primarily influenced this shift.
Growing Payrolled Employees July 2023 revealed a positive uptick, as the number of payrolled employees surged by 97,000, reaching 30.2 million. It’s important to note that this figure is provisional and subject to revision as more data becomes available next month.
Shifts in Unemployment The unemployment rate rose by 0.3 percentage points to 4.2% in April to June 2023. This change was attributed to individuals unemployed for up to 6 months.
Economic Inactivity and Inclusion Economic inactivity witnessed a slight decline of 0.1 percentage points from April to June 2023, settling at 20.9%. This movement was predominantly driven by individuals becoming active due to family or home responsibilities. However, the report highlights a record high in long-term sickness-related inactivity.
Vacancies and Their Trends The estimated number of vacancies experienced a decrease of 66,000 from May to July 2023, marking the 13th consecutive quarter of decline but up 219,000 since January to March 2000.
Pay Growth Patterns April to June 2023 brought forth remarkable annual growth rates in pay. Regular pay (excluding bonuses) soared to a notable 7.8%, the highest since comparable records began in 2001. Meanwhile, employees’ average total income (including bonuses) witnessed a growth rate of 8.2%. It’s important to consider that the one-off NHS bonus payments influence this overall growth rate in June 2023. When adjusted for inflation, annual growth in both total and regular pay showed positive year-on-year changes: 0.5% for total pay and 0.1% for regular pay.
Navigating Labour Disputes June 2023 saw 160,000 working days lost due to labour disputes, with over half of these occurrences occurring within the Health and Social Work sector.
Stay informed about these transformative shifts in the UK employment landscape as we continue to monitor trends and provide insights into the evolving dynamics of our workforce.
Is this what you are seeing?
In the tumultuous business world, where market conditions can swing like a pendulum, one practice stands out as a steadfast pillar of success: consistent new business development. However, prepare yourself, for we’re about to delve into some controversy. Many claim that the importance of new business development wavers when markets are good and when the markets turn, we should look to service our existing client base before chasing new business, but let’s shatter that myth and explore why this strategy is even more crucial during uncertain times.
The Controversial Perspective
Some voices in the business realm argue that during economic downturns or turbulent market conditions, it’s wiser to play it safe, cut costs, and stick to the tried-and-tested rather than seeking out new business opportunities. After all, in a stormy sea, isn’t it better to batten down the hatches and focus on maintaining the ship rather than trying to set sail for uncharted waters?
While this perspective seems reasonable, it overlooks business survival and growth dynamics. While it seems tempting to play it safe, doing so is the riskiest move in disguise. Relying solely on existing clients or revenue streams can make your business vulnerable to sudden shifts in the market. Moreover, this approach overlooks the fact that your competitors are not standing still; they might be forging ahead with new partnerships and ventures while you remain stagnant.
The Unyielding Benefits
Embracing the philosophy of consistent new business development in all market conditions might appear audacious, but precisely, this audacity can set your business apart. Here’s why:
In a world where controversy sparks conversation, the debate about consistent new business development in any market climate is a topic ripe for discourse. While the conventional approach might be to hunker down during uncertain times, these moments demand audacity, innovation, and a willingness to explore uncharted territories. Consistent new business development shields your business from shocks and positions you as a trailblazer in your industry.
So, as the winds of change continue to blow and the tides of uncertainty ebb and flow, remember that business is not about waiting for the storm to pass but about learning to dance in the rain. Seize the opportunity to develop a new business strategy that is Specific, Methodical and Consistent, irrespective of market conditions, and watch as your business not only survives but thrives in the face of controversy.
In our job, we see many recruiters and many differing practices, so here is a tongue-in-cheek view of a day in the life of a UK recruiter.
In the unpredictable world of recruitment, where CVs, interviews, BD, KPIs and the occasional awkward handshake reign supreme, a day in the life of a UK recruitment consultant is nothing short of a whirlwind adventure. With a blend of phone calls, coffee cups, and the constant struggle to spell “enthusiastic” correctly, let’s take a humorous peek into their chaotic realm.
Dawn of the Spreadsheet Samurai: 8:00 AM
As the sun reluctantly rises over the bustling streets, our recruitment consultant bravely steps into the office, armed with a steaming mug of coffee and a heart full of optimism. Armed with spreadsheets and a phone headset that doubles as a cardio workout accessory, they’re ready to dive into the world of job listings, LinkedIn stalking, and the perplexing phenomenon of deciphering vague CV descriptions.
“Name-That-Title” Game: 10:00 AM
Mid-morning arrives, and it’s time for the daily “Name-That-Title” game, where a recruiter receives a CV that lists a job title no one has ever heard of. Is it a “Creative Innovation Evangelist” or just a “Fancy Idea Person”? The world may never know. But hey, who wouldn’t want a superhero title on their business card?
Conquering the Tech Tango: 11:00 AM
Amidst the daily hustle, a critical mission emerges: business development. Armed with the latest sales tactics and a list of potential clients longer than a Shakespearean soliloquy, our recruitment consultant sets forth to conquer uncharted territories. However, a peculiar phenomenon surfaces—the reluctance to embrace technology.
As the consultant stares at their pristine Customer Relationship Management (CRM) software, a shiver runs down their spine. Using the CRM could streamline the process, keep track of interactions, and potentially lead to world peace (well, almost). But no, it seems there’s an unspoken pact among recruiters to resist the allure of efficiency.
The KPI Quest: 11:30 AM
In the mystical realm of recruitment, where job titles are as creative as modern art and candidate interviews can verge on stand-up comedy, another challenge looms like a shadow—Key Performance Indicators, or KPIs. These elusive metrics are the compass by which a recruitment consultant’s success is navigated, yet they often seem as mysterious as the Bermuda Triangle.
At the stroke of midday, our recruitment consultant faces the KPI quest. Armed with a determination rivaling that of a knight facing a fire-breathing dragon, they dive into the spreadsheet wilderness and to put as little onto the CRM as possible to look like they have achieved their KPIs. The goal: to meet the metrics that promise a seat at the round table of bonus distribution.
Phone-a-Friend, or Ten: 12:00 PM
Lunchtime hits, and what better way to fuel up than by scrolling through LinkedIn profiles and connecting with people who have zero idea why you’re adding them? But let’s not forget the flurry of phone calls – from explaining the same job description for the umpteenth time to fielding questions like “Is punctuality really important?” (Spoiler: Yes, it is, Dave).
OH, and if you’re lucky, grab something to eat or enter the office fridge and accidentally borrow that sandwich you have had your eye on for the last week.
The Interview Conundrum: 2:00 PM
Afternoon arrives, bringing with it a slew of interviews. Recruitment consultants have seen everything from the eager candidate who believes their spirit animal is a squirrel to the one who spends 20 minutes discussing their cat’s dietary preferences. But at least it’s a break from the norm, right?
The Spreadsheet Saga Continues: 3:30 PM
Instead of embracing all the CRM’s promises, our recruitment consultant retreats to the comforting embrace of spreadsheets. There’s just something nostalgic about tracking client interactions in a colourful Excel maze. The consultant clings to their beloved cells and rows, determined to prove that technology, while flashy, cannot replace the tried-and-true charm of manual data entry.
CV Buzzword Bingo: 4:00 PM
As the workday winds down, it’s time to play everyone’s favourite game: CV Buzzword Bingo. From “dynamic” to “results-driven,” it’s like a wordy roulette where consultants try to predict which cliché will pop up next. If only there were prizes for accurately predicting “synergy” for the 50th time in a single day.
“To Tech or Not to Tech?” 4:15 PM
As the day marches on, the internal battle rages on. Should the consultant surrender to the alluring embrace of technology or stand firm in their devotion to the spreadsheet gods? The allure of automation and instant access to client information beckons like a siren’s song, yet there’s a certain comfort in the familiar—like an old pair of fuzzy slippers that have seen better days.
The Unlikely Tech Hero: 5:00 PM
In a surprising twist (I want to go home so this might be faster), a moment of enlightenment challenges our recruitment consultant’s rebellious resistance to technology. After a near-miss where a crucial client’s contact details nearly vanished in the labyrinthine depths of a spreadsheet, the consultant decides to venture cautiously into the CRM realm.
With a deep breath and trembling fingers, they enter client details, schedule follow-ups, and even send a well-timed email to a potential client—all within the CRM. As the consultant watches, spellbound, they realise that technology doesn’t always devour the magic; sometimes, it amplifies it.
The KPI Climax: 5:30 PM
Our consultant reviews their KPI progress as the sun sets on the recruitment battlefield. While some metrics have been conquered like noble knights, others remain elusive, like a pot of gold at the end of a rainbow. The consultant contemplates whether the KPIs truly measure their merit or if they’re just the breadcrumbs leading to a more meaningful success story.
The 6 PM Shuffle: 5.59 PM
As the clock strikes six at 5:30 pm, our recruitment consultant wraps up another day, gently coaxing the last caffeine molecule from their cup and exchanging knowing glances with colleagues. There’s a mutual understanding that tomorrow will bring more phone calls, more quirky job titles, and more moments that make you question the very fabric of the working universe. But at this point, the recruiters’ runners are on, and the door is swinging on its hinges.
Homeward Bound: 6:30 PM
With the day done, our recruitment consultant travels home with a mix of triumph and humility. While the allure of spreadsheets still holds a special place in their heart, they’ve seen the light—the CRM’s efficiency is undeniable, and their thoughts linger on. The KPIs will be there tomorrow, waiting to challenge them anew. Yet, amidst the quirky titles, tech tango, and KPI odyssey, they remember that the real adventure lies in the connections made, the candidates’ dreams fulfilled, and the clients’ needs met, with a small step toward embracing the digital age, though the spreadsheet fairy may shed a single tear in a forgotten corner of the consultant’s hard drive, or should they go to the pub?
And so, the day in the life of a UK recruitment consultant is a saga of quirky job titles, CV buzzword bingo, and a reluctant tango with technology. As they journey through the highs and lows of the recruitment world, one thing remains clear: there’s no challenge too bizarre, no spreadsheet too labyrinthine, and no CRM too intimidating for these intrepid professionals on a quest for the perfect candidate, client and the elusive “Dynamic Synergy Wizard.”
Thank you for reading this far. Please feel free to make a comment on anything we have written or reported on. Feel free to challenge your day, I know we do.
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