The Future of emerging talent recruitment
I recently attended and had the privilege of speaking at the WCN event in January. In this blog, I will share with you my reflections from the event and the key trends in the future of emerging talent recruitment.
Candidate Experience and Candidate Expectations was a very strong theme.
Beginning the day looking at the efficiently managing student sign-ups at events or fairs on the day (and the frustration of queueing!), or enabling brand ambassadors to capture student details…and crucially, with the challenge of scale and volumes, leveraging technology to do all this.
Then, the importance of following up and tracking those who do sign up, and not just that but providing personalised experience and insights to those candidates after the events, and all with the added bonus that this also helps show ROI from all your face to face engagement with students
Next, we heard from Universum, they shared some really great global data on students to help drive and shape strategy and actions. They showed the biggest challenges facing emerging talent recruiters were:
- ‘Fallout rates’ through the recruitment process
All backed up by data such as:
- 25% candidates withdraw from the process through their choice
- In the UK 35% of applications come from Russell Group University & 65% from non-Russell Group Universities BUT 75% of offers were made to offers Russell Group students and just 25% to non-Russell Group
Russell Group students are more attracted to prestigious organisations, challenging work and careers, competitive base salaries and a meritocracy, so if you are seen to offer this, in the minds of students, you will tend to get more Russell Group students applying
- 57% of all applications to UK graduate programmes come from UK students, with 43% coming from non-UK students where the top 5 other sources are France, US, Italy, Germany, Spain
And to show how competition is growing, based on a survey of 900,000 students globally
- In 2008 UK students on average would consider 13 employers from just 1-2 sectors
- In 2017 UK students on average consider 21 employers and from multiple sectors
And so, what do students look for in an employer:
The number 1 thing they seek is Professional development (they want to be learning), with leadership opportunities being very important too BUT ‘leaders who support my development’ is rated as even more important
And interestingly there are clear differences as to how man and women perceive a good leader.
Leaders are seen as mentors for women and for men a ‘leader’ means someone who can make strategic decisions. Other factors which are important to women include, ethical standards; support for gender equality, an inspiring purpose; and for men such factors as a high-performance focus, competitive base salary, recognizing performance (a meritocracy)
Their biggest fear when joining an organisation is, unsurprisingly, not learning; and second is they don’t fit into the culture. Very interestingly, when it comes to school leavers, what they want most is to understand the true culture of the organisation.
Working specifically in the emerging talent market, we at MyKindaFuture have developed a tech platform - connectr - which enables students to start learning (through digital modules) both through the recruitment process and post-offer before they start and with 85% completion rates on the learning modules, it is being very well used. In addition, through our digital mentors on the platform, students can gain invaluable and very real insights into the culture of the organisation they are considering applying to or have an offer from. So do get in touch to find out more...
Other insights related to diversity include, black students think it is twice as important to have that commitment to diversity and inclusion than other ethnic groups; they are also the group which prioritises leadership opportunities the most. Students with Indian, Pakistani or Bangladeshi backgrounds are most concerned by job security; and 40% of students with Chinese or mixed background are attracted to international careers (where the average is 30%).
I have not summarised the session that I ran on ‘how to successfully attract apprentices to join your organisation’ but don't worry, you can download it here.
Strategic Lead for Emerging Talent, MyKindaFuture
Honorary Vice President, ISE