Think Hiring Woes Are due Entirely to a Lack of Candidates? New Report Suggests Real Issue is Sluggish Response to Applicants

Think Hiring Woes Are due Entirely to a Lack of Candidates? New Report Suggests Real Issue is Sluggish Response to Applicants

 

  

INDIANAPOLIS (April 6, 2022) – – Regardless of who you talk to, employers are having a terrible time finding qualified people to fill open positions, citing more jobs than candidates. However, a new report published by PivotCX and JobSync suggests the issue is not simply a lack of candidates, it’s the slow response time to jobseekers who often wait weeks for a response to online applications. A simple change in strategy, responding to candidates via text within minutes of applying, can lead to a monumental shift in hiring success.

The recruiting benchmark report, 2022 Best-in-Class Candidate Engagement, tracked 500,000 job candidates in seven key industries obtained through job board applications to understand the impact of SMS text responses on candidate engagement. The biggest finding: by immediately connecting with applicants via text increased engagement—human-to-human conversations—by as much as 70 percent. The majority of jobseekers reached a live recruiter within 10 minutes of applying.

“That is a gamechanger for employers and candidates,” says Mike Seidle, PivotCX co-founder and CTO. “This near real-time engagement gives employers the opportunity to have the first pick of the best candidates. The majority of people accept the first offer so the sooner an employer can connect with interested candidates the better. For candidates, they get the immediate gratification of a human response instead of sitting in the dark for weeks wondering where their application is in the hiring process.”

The study analyzed the impact of SMS text across key industries, including education, health care, manufacturing, warehousing, personal care, trucking, and technology. The increase in engagement was about 60 percent across the board, with the highest engagement rate coming in education, with 70.1 percent of candidates responding to the text.

Another key takeaway is how quickly candidates responded to the initial text from the company recruiting. This ranged from a few seconds to several  minutes based on industry. For example, healthcare, technology, and trucking candidates had an average response time to a text of around four minutes. Personal care candidates—hair stylists, cosmetologists and barbers—typically responded within 10.5 minutes.

Jobseekers’ rapid response to text messages is a clear message the days of waiting games are over, says Leah Daniels, chief commercial officer at JobSync. “Ninety-three percent of U.S. workers have smart phones and about 70 percent are using them to apply for jobs. Once they’ve put their hand in the air by applying on a job board, they’re ready to be acknowledged and engage with recruiters. In response, recruiters need to respond in real time and start moving people through the hiring process. Those who can deliver the immediate gratification within minutes of receiving an application, will have a huge advantage over other employers,” Daniels says. 

PivotCX and JobSync conducted the study in part because of the profound difficulties recruiters face in accessing and connecting with applicants. For a variety of reasons, people don’t respond to phone calls or emails, frustrating recruiters. 

Says Seidle, “Recruiters have to engage with as many candidates as they can as quickly as they can. To do that, they have to use the preferred method of communication, texting. Ninety percent of people open a text message within three minutes. Compare that to email where only 20 percent are opened. A simple change in strategy will accelerate the hiring cycle time from an average of 42 days to less than seven and increase the productivity of recruiters exponentially.”

 

Click here for a complete summary of the 2022 Best-in-Class Candidate Engagement recruiting benchmark report.

 

About PivotCX

PivotCX’ candidate engagement platform accelerates candidate flow and human-to-human conversations that empower recruiters to make better hires faster through live SMS texting. At the same time, PivotCX replaces the long, opaque hiring process for jobseekers with immediate, personalized gratification upon applying for a job, enabling them to land a  desired job quickly and with confidence and transparency in the process. PivotCX’ platform integrates with many ATS, CRM, and HRIS systems as well as job boards, social media, and career websites, and enables automated and person-to-person conversations via text, email and voice. Data collection and thoughtfully designed, information-laden dashboards complete the SaaS solution that’s quickly becoming the go-to tool for recruiters. Learn more about PivotCX here.

 

About JobSync

JobSync empowers talent acquisition professionals to get more quality candidates from their existing solutions be emulating the ATS application process directly on job sites, creating a seamless direct apply experience for applicants, doubling the candidate volume. JobSync automates the data connections in the talent acquisition providing integrated direct apply solutions, job distribution, and seamless integrations between job boards ecosystem, ATS, and other systems used by recruiters. JobSync’s solution reduces friction for candidates, recruiters, employers, and vendors. Learn more about JobSync and how the company improves the efficiency of talent acquisition teams here.

 

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Media Contact: Melanie Lux, 803-331-4794 or press@pivotcx.io

Find out: PivotCX helps your company respond with a live person in seconds to candidate inquiries. 

    Want to learn more about how PivotCX can improve your applicant flow? Request a demo.

    Podcast: Creating Valuable Solutions in Tech

    Podcast: Creating Valuable Solutions in Tech

    This podcast interview focuses what product innovation and creating valuable solutions should be really all about and how complacency can kick-in silently and give you a slap in the face. The guest is Mike Seidle, Co-founder and CTO at PivotCX.

    During this interview, you will learn four things:

      1. The importance to start paying attention to the early signals from customers that you are on the wrong track instead of listening to your own stories.
      2. How shifting focus from selling “cost savings” to “giving your customers a position of advantage in the eyes of their customers” can be the difference from having no traction to winning 8 out 10 deals.
      3. Why we often think we are smarter than everybody else – and why that doesn’t help at all.
      4. How small ideas can mean the difference between having 10 users and 10000 – and how to find them. 

    Links in this episode:

    LinkedIn: @IndyMike (Mike Seidle) 

    The Tech Entrepreneur Podcast: https://play.acast.com/s/valueinspiration 

    Featured Image background by Dominika Roseclay

    Podcast: Mike Seidle on the Rosey On Recruitment and Career Podcast

    Podcast: Mike Seidle on the Rosey On Recruitment and Career Podcast

    Join Mike Seidle on Rosey on Recruitment and Career Podcast. Dive into technology supporting communication in the recruitment process. Rosey and Mike also touch on transformative moments when the right people are in the right roles. We examine how Mike’s advice for his 18 year old self is what all Entrepreneurs need in their business. We talk about COVID lessons and being brand agile, listening to your current and prospective market for success. And lastly we talk about how not to negotiate an offer (it’s worth the listen right to the end!) 🙌

    Links in this episode:

    LinkedIn: @IndyMike (Mike Seidle) 

    Rosey’s links: https://linktr.ee/roseyhercareer 

    Featured Image background by Dominika Roseclay

    How Cost Per Hire Is Killing Business – And It’s Not What You Think

    How Cost Per Hire Is Killing Business – And It’s Not What You Think

    Why is it that we obsess about metrics like cost per hire when the cost of not filling a job can literally kill an organization’s bottom line?


    The Real Cost Per Hire

    I was in a meeting with the CEO, CMO, Director of Recruiting, and key staffers at a Fortune 500 company. The discussion was on candidate flow and the difficulty they were having filling revenue-producing positions. As the company’s massive investment in equipment, bricks and mortar was lying idle, customers were passing them by.  

    HR’s response to the talent shortage? They wouldn’t do anything to the recruiting strategy that would increase the company’s current $700 cost per hire by $50. 

    Meanwhile, the CEO pointed out the cost of not filling a position, one position, was roughly $19,000 per month in lost revenue. When I heard there were about 1,000 open positions at the company, my jaw dropped.

    HR was worried about saving $50 per hire while the opportunity cost per hire was $19,000 per month. The business was losing hundreds of millions in revenue because it wasn’t making hires.  But… HR was keeping that cost per hire number under $700.  So, save tens of dollars and not make millions.

    Empty Seats Are Costing You

    If your recruiting efforts aren’t keeping pace with your organization’s workforce needs, it may be time to gain a better understanding of what the cost of not making a hire really is. What is that empty seat costing you? What’s that empty mechanic bay costing you? That unfilled nursing slot? The missing restaurant manager? Or that empty hairstylist chair?

    In conclusion, if you are in talent acquisition or HR, knowing the cost of not making a hire can make you a rock star to your CEO. When you consider the actual financial impact and lost opportunity, you may find a lot more budget and support for recruiting by framing the problem around the cost of not filling positions. The fact is, unfilled jobs are throttling the growth of most companies, and that’s probably the case at your company, too. 

    CEOs and CFOs get it.

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    If you are tired of lost hiring opportunities, let’s connect. I’d like to understand the issues your company is facing and how PivotCX can help. Let’s talk about your recruiting. 

    3 Ways to Accelerate Recruiting

    3 Ways to Accelerate Recruiting

     

     

     

     Do you require a full 10+ step job application before you engage with a candidate? If so, you may be missing many of the best candidates. Why?

    No one wants to sign a prenuptial on the first date.

    Here’s another way to look at it:

    Would your sales department require a full credit application before you talk to a potential buyer?No, of course they wouldn’t. They would first present the product they’re selling and sell its benefits. 

    Why is it that most companies require such long job applications first?

    20 Years of Bad Habits

    Companies are still using grossly long job applications because we’ve gotten used to a long-term employer’s market. We got used to posting a job and getting 100 or more applications. Inundated with such a large applicant pool, we biased our hiring processes to screen out everyone who wasn’t an exact match.  

    Better Recruiting Habits

    The recruiting landscape has changed drastically in the past years. The Bureau of Labor Statistics reported that in October 2021 there were only 0.7 job seekers per job opening. Now that there’s less than one available job seeker per open job, maybe it’s time to rethink how we engage with job seekers. Here are 3 things our most successful customers do:

    1. Apply Faster

    The fastest applications only need 3 fields: a name, a phone number, and an email address. It’s better to collect the bare minimum contact information to get the candidate talking as soon as possible with a recruiter rather than put them off with long form applications which should be reserved until after an actual job offer.

    2. Engage Faster

    Our most successful employers are responding to job seeker interest in less than 2-4 hours. A year ago, you could wait 2-4 days and still find quality candidates. If you want to get the best people, go even faster and respond in minutes.

    3. Talk to Job Seekers

    Have a human-to-human conversation with applicants as quickly as possible. If you are having people fill out long applications online and are only talking to the candidates you are interested in, your competition is eating your lunch. Most job seekers have basic questions they need answered to determine if they want to apply. Sometimes it is about benefits, sometimes it is about compensation, sometimes it is about requirements — most often it’s about something you don’t expect — and it takes a person to answer the question.

    At PivotCX our candidate advocate team talks to every job seeker within minutes of every inquiry. Our team is answering job seeker questions, getting a complete profile and making sure there’s a good fit, and then referring candidates to our client companies who are then engaging with the applicants to complete the hiring process. 

    Think Different

    Times have changed. Jobs used to be scarce. Now applicants are. Regardless of how we got here, the new reality is there is less than one job seeker available for each open job in the US. 

    It’s time to start treating job seekers like they are scarce — because they are.

    Find out: PivotCX helps your company respond with a live person in seconds to candidate inquiries. 

      Want to learn more about how PivotCX can improve your applicant flow? Request a demo.