6 Innovative Oracle Hiring Strategies Post Great Resignation
December 20, 2023 by Aanchal Sharma
THE GREAT RESIGNATION! Once, the uncharted territory took the recruitment industry by storm. Often cited as the trend that began during and post COVID 19, there’s much more to how and what factors drive the phenomenon.
Now that the mass exodus is said to be over, talent acquisition managers in Oracle recruiting have a bigger and important role to play considering the number of talented candidates returning to their jobs.
Does it mean that the recruiter needs to re-access their existing hiring practices? Or it’s a sign to tap in the talent pool before the competitor does and strike a right chord with the potential candidates?
A smart recruiter, perhaps, will opt for both options. The industry is as hot as ever, courtesy of the talented candidates looking for better career opportunities. This means that it’s more important for the recruiters and the companies to have a candidate-friendly recruitment process.
What Does the Great Resignation Stats Say?
2022 saw on average 4 million Americans resigning their jobs each month.
In the month of August alone, nearly 4.2 million Americans resigned from their jobs.
A LinkedIn study stated that almost 70% of Gen Z and Millennial Americans planned to quit their jobs in 2023.
Globally, 41% of employees are already considering quitting their jobs.
55% of the American workforce are looking for new roles.
As per The US Bureau of Labor, the two years (2021 & 2022) following the great resignation trend, nearly 100 million people apparently quit their jobs. While 2021 saw 47 million quit, 2022 witnessed another 50 million join the league.
Here’s What The Recruiters Need To Realize
The stakes are quite high, especially when it comes to recruiting and hiring. What’s scarier is that the repercussions of a wrong hire can be bigger. When attracting, engaging, and hiring potential candidates, the recruitment team needs to get off the auto-pilot mode and make more conscious efforts. If not, conscious, or unconscious bias is going to creep in, and the hiring process will be marred by the lack of diversity in the company.
Recruiting skilled candidates is a problem. Period. With employees taking the reins of their careers, it’s time for the HR managers to change the conventional approach that no longer blends with the mindset and expectations of the candidates. One needs to dig deep to find out strategies that could attract the attention of potential candidates and retain talented employees.
What Can Be Done To Fine-tune The Hiring?
Julie Rieken, CEO of Seattle-based talent platform Trakstar, says, “We’re definitely seeing more people being ready to move jobs and think about either new career paths or new companies or different kinds of work environments."
She also stated, “Data surrounding today’s employee movement is "stunning." According to her company’s research, job postings rose by 52%. Applicants are up 23%, interviews 85%, and hiring has risen by 163%.”
Despite the positive approach and numbers, many companies are starving of some of the most talented employees. The recruiters, hence, need to play a proactive role and define the reasons that are barring the candidates from applying for jobs. Once the reasons are noted, it’s important to make the necessary adjustments that will work in sync with the needs of the current workers.
So, What Can the Oracle HCM Recruiters Do to Get Out of the Churn?
1. Go For An Applicant Tracking System
Automation is the key to successful and speedy hiring. An ATS (applicant tracking system) can be an ideal tool that helps both the recruiters save their time and the company save its money. Designed to make recruitment easy, it helps in the applicant sorting and easily imports millions of resumes overnight. Finding qualified candidates is the key to beating the great resignation, and once the process becomes automated, the results can be way more accurate.
2. Revamp Your Careers Page
First and foremost thing, take a look at your career page. It’s important to see whether the job description clearly defines the role and the expectations, whether it depicts your corporate culture, and is easy to apply to.
In the current competitive scenario, making candidates spend 10-15 minutes filling out the same details mentioned in the CV while applying for the job will be the least productive. A career page in retrospective, which helps them apply in a click, signifies that you value their time.
3. Strive to Build A Positive Candidate Experience
Gone are the days when the candidates would patiently wait to hear back from the company for days. Neither do the candidates have the patience nor will your competitors wait for you to act after days and hire the deserving candidate.
Scrolling through hundreds of CVs takes days. It’s normal. But does it mean that this speed bump should affect the efficacy of your company’s performance? Instead, calling them in a day, if not hours, is something that will make the candidate appear for the interview at your office first. This is possible by automating your processes. A resume parser helps fetch you accurate candidate details that match the skills chosen by you. So, you won’t have to sift through resumes, especially when an AI-driven parser can do a better job in a few minutes.
4. Start Employee Referral Programs
Employee referral is another great way to recruit perfect candidates (Of course, your current employees need to be happy, and that’s another thing to talk about, which we’ll do in another blog). As a matter of fact, setting up rewards for the employees for each successful referral can help you get access to talented professionals.
When the existing employees speak of a company’s flexible and happy work culture, it carves credibility in the minds of candidates. In fact, reaching out to passive candidates also becomes easy this way. Don’t forget “Word Of Mouth” can have a strong influence within the industry.
5. Carve A Strong Brand Value
Your company’s or employer's brand value can play a significant role in your recruitment process. This is what will be your USP and will make you stand out from your competitor recruiters. Keep yourself in a candidate’s shoes and wonder, “Why would I want to work in that company?”, “What do the current employees have to say about the company they work in?” and “Does it support a diverse team?”. If you have these pointers check-in, believe me, you’re sorted.
Don’t forget your employer's brand value eases your candidate hunting job. To begin with, scroll over your company’s About Us section, social media handles, and see whether the advertisements are in sync with your brand.
6. Weigh the Achievements and Skills More Than The Pedigree
Having a huge recruiter’s circle, I tend to meet many on a regular basis. Now, quite shockingly, many of the recruiters boast about how their workspace is dominated by the Whites, while others say that they prefer onboarding more male members in the team as compared to the women. For most, name, age, color matter more than the candidate’s skills, qualifications, and experience. I’ve underlined just a few biases that happen to occur when skimming through the resumes.
Name: Recruiters tend to be inclined towards white-sounding names as compared to African American names. Just a glance at the name can give them an idea of whether to call them for the interview or not.
Geographical Location: The address can give an idea about the locality the candidate put up at, the travel time, and even the salary expectations.
Qualification: No doubt education qualification is an important aspect, but there can be instances where the university or college name can evoke elitism or affinity bias.
Age: Displaying the birth date can be a hindrance, especially at places that prefer to hire only the young professionals or vice-versa, avoiding skills and knowledge.
To alleviate such biases, it’s important that the recruiters go for automated hiring. Resume parser is one such tool that could help redact personal preferences when short-listing the candidates. The tool helps stop cognitive bias and sets up a funnel that helps identify the skills of the candidates. Remember, an anonymized resume will help make a better decision in the candidate selection.
Identifying The Best Recruiting Tool
Setting up recruiting strategies can indeed be very helpful, but the crux lies in selecting the resume parser that helps you from the first stage itself. RChilli’s Oracle HCM Cloud Profile Import Plugin streamlines the recruitment process and helps enhance the positive candidate experience. The one-click apply feature helps them save time that they would have initially wasted by re-filling the information mentioned in their resumes. This means the candidates won’t leave the career page because of the lengthy job application process.
RChilli’s parsing solution for Oracle recruiting helps talent acquisition professionals by parsing resumes in any format, including DOC, DOCX, PDF, RTF, TXT, ODT, HTM and HTML, DOCM, DOTM, DOT, DOTX. Further streamlining the recruitment process, the parser fetches the data from resumes and automatically saves the entries in Oracle HCM Cloud.
Talk about the resume parser for unbiased recruitment, and RChilli’s tool helps you stay ahead of the competition by fetching data of nearly 140 fields. All you gotta do is select the fields, and the candidate data will be there in seconds.
The Great Resignation was real and it continued the terror for nearly two long years. But this didn’t stop hiring managers from making the right changes in their conventional approach towards hiring. You too, should seize the opportunity and make some of the best hires to stay ahead of the competition.
What is your take on how “The Great Resignation” trend is going to shape up the recruitment industry?