January 18, 2017
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We’ve heard of Recruiter Rewards & Recognition and have either seen or experienced its impact first hand. Then again not all of us are fortunate enough to have such experiences but are still required to formulate Recruiter Rewards & Recognition plans and to follow through with the plan.
Having, said that @SourcingADDA we were able to shed some light on Recruiter Rewards & Recognition and its impact on Recruiters based on the suggestion of our Bangalore group member Shankar. Thus, our popular Wednesday discussion topic was on, “Recruiter Rewards & Recognition but on 2 parameters namely,
- What are the different categories of Recruiter Rewards & Recognition?
- How Recruiter Rewards & Recognition impacts the performance of a Recruiter?”
And we’re sure your waiting for the insights but before we get to that remember that we’ll be highlighting the key take a ways from the insightful discussion we had so here’s what we came across…
Another discussion ends with a lot of perspectives and views to think about and you too have added to your knowledge if you’ve read this far. So let’s not keep you waiting and get right to the point by leaving you with our key take away points to bear in mind. Whether you’re formulating your own Recruiter Rewards & Recognitions plan or have had a first – hand experience or even watched a friend receive one, you’ll definitely learn something new.
Impact of Rewards & Recognitions on Recruiters
- Rewards and Recognition are the motivational factors for Recruiters
- Rewards & Recognitions can be motivational factors but it depends on the setup, whether an agency or a corporate.
- Irrespective of whether it’s a corporate or an agency set up has a bearing on a Recruiters performance.
- Rewards & Recognition can be strategically linked to factors like usage of a particular source for recruitment or on the number of positions filled or to even stakeholder management.
- According to Prateek, money / equivalent monetary benefits are a great motivation
- As a result of these benefits ultimately people will stay longer with the same company
- Such benefits decrease attrition while their performance increases as they are motivated to get it the next time.
- Rewards and Recognition in non – monitory form is really great
- Money can be earned through various means but recognition is something every employee’s subconscious mind craves for.
- Daniel Pink proves that more the incentive less the productivity but more R&R will boost morale and thereby productivity will improve.
- According to Herzberg’s motivation- hygiene theory; one has to separate the hygiene factors like pay, incentives etc. from the non – hygiene factors or motivating factors like challenging work, recognition etc. so that the employee gets satisfied.
- Instead of concentrating more on incentives; recognition should be given more emphasis to boost morale.
Recruiter Rewards & Recognitions (R R & R)
According to Siby the categories for rewards can be as listed below:
- Outstanding Performance – It is based on the numbers every month for outstanding performance.
- Customer Delight – It is based on critical closing, TAT, and BU appreciation.
- Above and Beyond – It is based on people who go beyond the scope of work defined as in; involvement in organisations initiatives, team building, mentoring, etc.
- Innovation – It is based on people who go beyond the scope of work defined as in; involvement in organisations initiatives, team building, mentoring, etc.
- Weekend Warriors – Recruiters conducting weekend drives can be termed Weekend Warriors and rewards on the combined parameters like effective management on drives, candidate experience, effective feedback capture and reporting post drives, panel management etc.
- Channel Crusader – It is based on people who go beyond the scope of work defined as in; involvement in organisations initiatives, team building, mentoring, etc.
- Consistent Performer – It is based on the numbers every month for consistent performance.
According to Jones R R & R should be based on the listed out categories given below:
- Channel mix used
- Position closed (critical & niche)
- Raising star
- Helping hands
- Stake holder connects
According to Prateek R&R decision making criteria should be on
- Back out ratio as compared to others in team
- Extra contribution / effort taken to improve process of the company
R R & R should be in the form of the category listed below:
- Spot incentives – Over achieving their targets or closing niche skill positions or having early joining if the candidates say in a week’s time; according to Sheetal.
- R R & R should be based on 360 degree feedback mechanism in addition to the KPIs success according to Adwait.
According to Jiten R R & R is very important especially on the aspects of source mix
- ROI on every candidate hired
- cost per hire all are the driving factors for an organisation
- Every penny saved by a recruiter should be rewarded in various forms
According to Puja for a work from home company with a team of freelance recruitment consultants recognition is done on team basis on the categories listed out under –
- Maximum closures and client acquisition manager for the year – basis and also top 3 in these categories –
- most closures Client account manager of the year- basis
- recruitment consultant of the year – basis
- Client Account Managers
- Client Acquisition Managers
- Beyond the Call of Duty Award – to recognise contribution of selfless work
- Dedicated to the Client
- Special Recognition – for building a new vertical like retail and PR
- The Dedicated to the Client reward category was very well received and clients were requested to give away the awards.
- The process was conducted online using life-size cloud platform like Skype and the Team was super energised.
In most organizations R R & R are listed out here under but in the form of:
- Cash Awards
- Gift vouchers
Interesting options for R R & R could be in the form of:
- Nominating the Recruiter for some exclusive certifications which charges the organization
- Such RR & R would definitely be an extra feather in cap and is obviously a Recruiter’s privilege.
Parameters for RR & R could be based on the below mentioned rating categories:
- No. of Hires
- Hiring Time
- Conversion Ratio
- Out of the Box Thinking
- Sr. Management Connect
Now don’t you find the discussion insightful? Especially, since we’ve received an out pour of responses, not only about the effects of R R & R on their performance even theories that support the views expressed and proof as well from people like Daniel Pink & Herzberg’s Motivation – Hygiene Theory. We’ve also received categorisations and the parameters to consider to reward a deserving Recruiter through R R & R. Moreover, we’ve even got some great tips and ideas to carry out our own R R & R programs to formulate based on our organisations requirements.
All of the aspects mentioned above in its self are quite comprehensive and for sure portray the importance of having Recruiter Rewards & Recognitions (R R & R) supported with clear cut explanations to go with them. Therefore, we’re certain that you’ve realised what you’ve been missing out on. Hence, be sure to follow us @SourcingAdda to get real time updates to our upcoming events and activities. But before you go, make sure you leave us your views or requests to join our happening WhatsApp Groups in our comments section.
January 11, 2017
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There has been a gradual trend of buying businesses which makes it obvious to think of the impact such evolvements in the Recruitment Sphere will bring about. In an attempt to understand what the impact will be we’ve taken a scenario and have had a discussion on it.
At Sourcing ADDA (@SourcingAdda) we conduct Wednesday discussions where a topic is picked mainly from the Members suggestions and a discussion is held. The topic for the discussion was conducted in reference to the article – Randstad buys Monster for $429M as recruitment consolidation continues.You can view it here http://goo.gl/ox1xQO or https://techcrunch/2016/08/08/randstad-buys-monster-for-429m-as-recruitment-consolidation-continues. So the topic was on, “Randstad buying Monster; will this development impact the Naukri Monopoly; How & Why?” upon the suggestion of our Pune Group Member Manish. And here’s what we came across…
The discussion above is proof of the out pour of responses we’ve received and we can say that it was truly one heck of a discussion. How great is that? We’ve even got interesting tool to boost Sourcing such as Dice which is very good as it has a huge database and popularity and efinancial is great if you’re into domain based hiring. Moreover, IIM jobs is good for specialised positions but into H.R. Finance especially for management positions. Its database is less but the Talent quality is good and it won’t support small positions.
Well if you’re a loyal follower of @SourcingAdda then you’re waiting eagerly for the key pointers to take away, aren’t you? We’ll let’s not disappoint you; seeing as you’ve read this far. So here you go…
Commonalities with Job Portals
- In current based job market job seekers hardly rely on portal based jobs as there are much better networks that provide instant reach
- With times changing and the availability of better referral models the future portals will provide much more value added services in existence
Naukri – Indeed
- The number of hits to Naukri will definitely decrease since Indeed is directing traffic away due to their algorithm
- Naukri is unbeatable and irreplaceable in India
- Depending on how they rank a posting when the same posting is found on 2 portals that will matter due to their algorithm
- There’s always room for negotiations based on what products one subscribes for on Naukri
- Naukri has its monopoly currently and will continue to do so as every single individual looking for an opportunity visit’s Naukri first and then comes to other portals like Monster etc.
- Naukri is a tool for mass hiring in every sphere and space besides it may come up with additional features to counter the churn
- Although it has a good database but the availability of Talent Sourcing requires Recruiters to update themselves and acquire skills to catch the desired Talent
- Consolidation may happen but to find out how it appeals to the Job Searchers or Recruiters we’ll just have to wait and watch
- Naukri needs to focus on the merger as India will have very little effect but it does have a unique database and reach but has lost its relevance
- Naukri in India may not have much of an impact as it depends on the model which Randstad may come up with for its Clients and the alterations they make
- Naukri was good for mid & senior level and IT profiles but since it’s up – gradation it isn’t that good now but may be good for mass hiring and non IT profiles
- Due to its up-gradation it is not user friendly and there’s a lot of duplicity in its database
- It should be more relevant in terms of its outreach & flexible in commercial offering
- Naukri will have to cut their database cost after some time to keep pace with competitors
- Naukri follows the concept of allotting Recruiters with individual accounts to showcase that they have many Recruiters posting a wide variety of opportunities
- Indeed aggregates jobs from different portals so there is a possibility for it to end up being the one stop; shop for candidates
- Indeed may remain as an aggregator but if Naukri decides to stop indeed from Crawling its site then indeed will be in trouble
- You can stop indeed from crawling only when you password protect your entire website
- Monster- Randstad presence will have a lot of impact globally
- In order to get a quick turnaround one needs to focus on developing a long term strategy and execute it efficiently
- Monster- Randstad is jointly designing better products for corporate houses and they cannot rule the market overnight
- There strategies need to be specific to the loopholes of Naukri to come up the curve
- Randstad’s strong strategizing and its market know how the Industry works hence it is definitely a force to reckon with
- Randstad as a giant in the staffing industry will definitely work on the improvement of Monster
- Randstad’s US division needs to integrate their database on their ATS tool i.e. BULLHORN with Monster
- Once completed it will help in getting a good amount of profiles and have started to work on uploading CV’S from several job boards in to their ATS based on the freshness of the profile
- As an owner of Monster they need to focus on penetrating Monster to the people so they check for various positions in Monster and if they succeed this can increase the traffic
- Randstad intends to build the world’s most comprehensive portfolio for HR services which will make Monster a Big Talent Poll
- The plan will help Randstad to pitch in more effectively to strengthen their RPO model to their clients with a dedicated job board backup
- Randstad may look at revamping the Monster portal in case they want to continue Monster in the longer run besides they have a greater international presence
- Ranstad might be a big name in the international market however even they are struggling in the Indian market
- To win the market share Randstad has to come up with a different approach and a very good database for employers and jobseekers
- There is a lot of potential for Ranstad to utilise this acquisition provided they offer better services. The possibility to succeed looks dim unless they concentrate on a long term strategy and focus on developing client relationships
- Monster would come up with an updated product related to RPO with first – hand experience of how the recruitment process / business works
- Change of ownership won’t change Monsters standing as it’s just a backward integration strategy or perhaps a priority view of fresh profiles for Ranstad
- Monster’s acquisition was to gain market share and fuel the availability of global resources but for now Monster continues as a separate BU
- Monster is good for mid and senior level and even for IT profiles but it has to compete with new successful players like indeed, iimjobs, hirist and it will take a lot of time to rise up
- Monster was a better product but lost its race with Naukri due to its consistent, better service and their ability to penetrate deep in the Indian market with a wide domestic reach
- CareerBuilder has risen a lot in the US market and it will be interesting to see what strategies will be used against other risen job boards at home and abroad
Well this sums up everything that we found to be important and we can say that the discussion was worth our while as well as yours. If you’re not part of these discussions and would like to become a part of them then leave us a request to be added in to the WhatsApp groups in the comments section. And we’ll add you at the earliest else follow us @SourcingADDA and Tweet to us your request to be added into the WhatsApp groups and we’ll surely add you to them. You’ll also receive updates to our upcoming events and activities upon follow so be sure to follow us.
January 4, 2017
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Technology has definitely simplified our tasks and this holds true for most Talent Acquisitionists and Recruiters alike. The development of software and the ATS is proof enough of the simplicity of the tasks. Although most organisations have moved on to such tools for better productivity we often forget how the Talent Acquisition profession used to be like.
With that being said we decided to open a time capsule to the same to familiarise ourselves with what was, what is and what will be. Along similar lines @SourcingAdda we conducted our popular Wednesday discussions on, “How to Leverage Technology into HR?” upon the Pune group member Kavitha’s suggestion. And here’s what we uncovered but before that remember that we’ll be highlighting the key take a ways thereafter…
Well this brings us to the end of another great discussion with a lot of inputs to take back and think about. So let’s find out how technology has made a difference to our performance and check how much we’ve understood, so here goes…
How the Recruitment Industry has evolved
The key take a ways have been segregated into these sections to ease the learning since we’ve covered a lot of aspects.
- Data was maintained manually in excel which was time consuming and often resulted in delayed progress reports.
- Prior to the arrival of Technology the visibility of Hiring was less
- Previously HR wasn’t thought to be technical but the recent trend is inclined towards technological advancements
Effects of Technology in Recruiting
- Automated processes help streamlining
- Recruiter efficiency and time management with maximum productivity is maintained
- Marking the criteria for job applications and designing assessments for niche or difficult roles is easy
- The Recruitment Industry evolved due to the development of technologies like ATS, ERP, Portals, and Social Media
- Different Recruitment software assisted in the appropriate maintenance of staffing activity and candidate status thus reducing manual time and effort required to complete tasks
- Recruitment is now done using job portals, internal ATS for the candidate and position information etc.
- Updated data on any platform is dependent on Candidates updating their records or resumes in real time.
- With updated databases; catching the best Talent at the earliest is easy
- With Recruitment tools to assist; Talent Acquisitionist’s are constantly learning about upcoming tools
- To boost learning; activities are conducted with the help of several modules and platforms
- Even a simple task of reporting payrolls have shifted on to tools
- Need for a system for data mining is important
- To conduct effective operations; analytics that can be churned through a system is needed
- With Technology; applicant databases of information are continuously growing hence Candidate Database Management is essential
Future of Recruitment
- There are already in house recruitment apps for companies, agencies etc. developed around the globe and is sure to become the in thing in Recruitment.
- The importance of technology is increasing gradually to achieve better and effective outputs
So there you have it a time machine look; into what was, what is and what will be. Now doesn’t this make all the difference to your planning? Gone are the day’s where hiring was mainly done via traditional methods. It goes without saying, “In with the new; out with the old!”
If you’ve enjoyed this then you’ve added to your knowledge and we’re sure you’d be quite eager to learn more. If yes, then you need to join our WhatsApp Groups because you have no idea what you’re missing out on by being a passive learner. Be sure to leave us your views or your requests to join WhatsApp Group in our comments section and ensure you follow us @SourcingAdda for real time updates to our upcoming events and activities.