INNOVATION ADOPTINGS T A F F I N G F I R M S

in a Bid to Stay Relevant

Compunnel

Introduction

Changing Perspective – A New Look at Old Problems

Enough Jobs But Not Enough Talent to Fill Them

What Caused this Skills Gap in the First Place?

Top Challenges Companies are Facing!

Why Future Belongs to the Innovators in Recruitment?

10 Hardest Roles to Fill in 2016

Counting on Innovation to Stay Relevant

Adapt or Perish – The New Norm of the Staffing World

About Us

Think beyond the traditional…Crowdsourcing may be the future!

An Open Recruitment Marketplace

Top of the line Analytics

Technology that enables faster hiring

Automation that drives efficiency

Skills based training program

More rewards for the talented few

What Else You May Ask?

Economy on the Verge of a Unique Crisis

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Even if you are remotely

associated with the staffing

industry, then I have a question

for you. Can you think of any

topic that’s been discussed more

than innovation in the last 5

years?

Not surprisingly, it has become

every staffing agency’s USP

while pitching their credentials to

prospective clients. How they

have the best time-to-fill metrics,

the best screening service, top of

the line sourcing channels, and

don’t forget, how they are such

great problem solvers. But don’t

you think the HR managers have

already heard these lines before,

in fact chances are that they

have heard at least 100 different

versions of these same lines

time and again. If you want to be

a good seller, you need more,

much more.

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Changing PerspectiveA New Look at Old Problems

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Well for starters, a little substance would do. Before giving companies

the solution, for once explain them what the problem is, and how

complex it will become in the coming years. Give them a peep into

recruitment’s inconsistent future, and how you are going to help them

sail over this turbulence. Yes companies know about the obvious rise

of contingent workforce, how good candidates are hard to come by,

and the increasing reliance on data analytics…but do they know why?

What gave birth to these trends, how did they come into picture, and

most importantly, what is their significance in the future.

What Else…You May Ask?

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Economy on the Verge of a Unique Crisis…

America is facing its worst labour market since the great depression era. More than 15 million people

are out of work, close to 10 million are doing part-time jobs, and the unemployment rate is hovering

around the dreaded 10% mark.

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WORKING PART-TIME UNEMPLOYMENT RATE

15million

10million 10%

UNEMPLOYED

Sounds like the economy isn’t adding any new jobs, right? Wrong!

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Enough Jobs…But Not Enough Talent to Fill Them

From 2012-2016, the American economy has actually added millions of jobs. According to experts

America is facing a very unique kind of unemployment crisis.

One where employers have enough vacancies but just not enough talent to fill them – a hard to

fathom proposition. According to a survey done by Bureau of Labour Statistics – every month close

to 4 million jobs go unfilled in the US, and by 2020 America is looking at about 25 million vacant jobs,

all because of this Skills Gap.

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America added millions of jobs

Dreadedshortage of talent

Still every month close to 4 million jobs go unfilled

By 2020, America is looking at about 25 million vacant jobs

What Caused thisSkills Gap in the First Place?

Ironically, a large part of this skills gap problem is shaped by what’s happening in the global economy.

Understanding the nuances of the economy is the best way to know where this problem is heading, and

what are going to be its disastrous effects.

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Silver Tsunami in the FrayReason 1

Reason 2

Reason 3

As majority of the baby boomers (born between 1946 and 1964) near their retirement age, US is looking at a big talent void to fill in the coming years. As of 2016, close to 1/3rd of the workforce was nearing retirement, and according to a survey done by BLS, about 115 million people would be above 50 years of age by 2020. The problem is that there just aren’t enough qualified young professionals to take their place which is something the government needs to think about, and quick.

Young People No Longer Interested in TechnologyAccording to a survey more than 22% of American youngsters opt for degrees in arts, history, and psychology, while only 5% opt for majors in science and technology. Well that pretty much sums up why there is such a dearth of talent, especially for hard to fill roles.

Getting Talent from Other Countries is Becoming DifficultIt’s no longer easy to source an Indian candidate for a tech position, especially if he is working in a small company. On top of that other countries are also bidding in this war for talent, offering great compensation and flexibility benefits to the potential candidates. According to a survey US ranks 7th in the list of countries employees would like to work in. The global competition for talent is finally having its effects on the US economy.

Education System Needs a RevampAccording to employers there is a big gap in what they expect from a candidate, and what they are learning at the university. While the quality of education is a big concern, the major problem seems to be the lack of practical experience. Result – college graduates between 21-27 are doing low paying jobs, accounting for more than 40% of the current unemployment rate.

Reason 4

Top Challenges Companies are Facing!

Ever widening gap between supply and demand of skilled workers means that hiring will become much

more competitive and ugly in the coming years. With more than 65% of companies expecting tough

bidding for potential candidates, a talent war is certainly on the cards. But what is worse is that there is

much more in fray for the organizations then just a talent war. Let’s have a look at some of the

challenges being faced by today’s companies when it comes to recruitment.

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Where to find quality candidates…..both active and passiveAccording to a survey, only 17% of hiring managers are happy with the talent potential of candidates. The big question is, if traditional forms of recruitment like job boards and social media are not working, where do you find quality candidates for your organization.

Rising demand for contingent workforce Many organizations are increasingly looking for temporary or contingent workforce to meet their talent crunch, which means that hiring managers have another big problem on their hand, sourcing temp candidates for hard to fill positions.

Extra cost associated with high drop off rates From resume submission, evaluation, interview to salary negotiation, the candidate hiring process can sometimes take months. And the more time you take to close a candidate, more are the chances of him dropping off mid-way. So high drop off rates is turning out to be a big spoiler for organizations.

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Why Future Belongs to theInnovators in Recruitment?

Consider the time your HR spends pondering over resumes and calling candidates, the efficiency your

organization loses when your hiring manager takes an interview, and what if after all this hard work you

still don’t get the candidate you desired. Especially for hard to fill roles like healthcare professionals or

communication specialists, internal recruitment teams of organizations have happily admitted their

defeats. Companies just can’t afford to mess up when it comes to hiring, and that is where the experts

come into the picture.

By 2017 the number of companies using the services of staffing agencies will double.

According to Guidant Group, by 2017 the number of companies using the services of staffing agencies

will double. In light of the massive talent crunch, man hours wasted by organizations in finding the right

candidate, and the business loss that concurs due to an open position, staffing seems to be the only

viable option.

Especially for global firms that need to meet stringent talent demand across boundaries, hiring a

staffing agency is absolutely essential to stay competitive.

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10 HardestRoles to Fill in 2016

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.........Data Scientist

Electrical Engineer

General and Operations Manager

Home Health Aide

Information Security Analyst

Marketing ManagerMedical Services

Manager

Physical Therapist

Registered Nurse

Software Engineer

10 HardestRoles to Fill

Staffing Firms: Counting on Innovationto Meet the Ever-Rising Talent Demand

While companies are counting on staffing firms to deliver them the right talent at the right time, staffing

firms are in turn counting on innovation to source the best and the brightest. From devising new sourcing

channels, using collective intelligence to implementing data analytics, staffing firms are leaving no stone

unturned to drive the best results for their clients.

Gone are the days when recruitment was all about picking a low hanging fruit, when every job posting

resulted in thousands of qualified resumes. Although traditional modes of sourcing like job boards and

social media do work, the process can be lengthy and sometimes unrewarding.

The biggest problem is that the niche skill talent isn’t active on job boards anymore, yet somehow he is

still getting relevant calls either through his peer network or through a close recruiter. So how would a

recruiter uncover such a candidate?

Well according to experts, crowdsourcing may hold the key to uncovering talented passive candidates.

The type of candidate that every staffing firm boasts of but very few actually have, the sort of candidate

who is going to be the most sought after in the coming years. A great example of an application using

crowdsourcing in recruitment is iEndorseU, an award winning app that rewards members for referring

quality candidates. Employing the concept of mobile referrals, iEndorseU is just perfect for tapping into

the network of niche individuals who are not available on any job board. Not surprisingly, the application

already has more than 50,000 vetted members, and is growing by the minute.

Think beyond the traditional…Crowdsourcing may be the future!

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Crunching tons of data to reveal insights about candidates to determine their suitability for a role is what

Big Data is all about. In fact you can predict how successful a candidate would be in a particular role, or

what the chances of him leaving the job are. Already the top staffing firms are using this technology to

avoid bad hires. This is one recruiting trend that is here to stay!

Top of the line Analytics

Still hiring recruiters on commission basis or using centuries old recruiting applications, how about your

own recruitment marketplace for a change? Yes, we are talking about your own dedicated network of

recruiters that work only for you. Good staffing agencies understand the importance of having a

dedicated marketplace, a strong network of recruiters that transcends all geographical boundaries. A

great example of such a marketplace is JobHuk which has more than 5,000 recruiters which work day

and night to meet your talent needs. Since all the recruiters are screened and segmented according to

their speciality and time-to-fill ratio, quality of candidates is never an issue here.

An Open Recruitment Marketplace

It can take days, sometimes months for

organizations to hire the right candidate for a

niche role. From sourcing, reviewing, analysing to

hiring, it’s a long process. In such a competitive

market, the more time you take to close a

candidate, more are the chances of losing him to

your competitor. After all, good candidates often

have more than one offer at a time. That is why all

the good staffing firms use state-of-the-art tools

that keep everyone on the same page. They follow

established processes that ensure smooth

transitioning of the hiring cycle.

Technology that enables faster hiring

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Some of the best staffing firms have their own skills based training programs that not only iron out the

inconsistencies but also make candidates technologically adept. These programs are designed keeping

employer requirement in mind and are really helpful in bridging the talent gap.

Skills based training program

There is no doubt that automation is the need of the hour. Paper-based recruiting not only wastes time

but also precious resources. If you are looking to drive efficiency then choose a tool that handles

everything from applicant tracking, resume screening, interview scheduling to requirement sharing.

These tools not only make the candidate on-boarding process easier but also enable a faster hiring cycle.

A win-win for both recruiters and candidates.

Automation that drives efficiency

The best are often spoiled for choices, so how do you close the deal. The answer lies in benefits and

flexibility. Being rigid in negotiation often leads to the candidates slipping away. Offer them perks,

benefits, and yes give them the flexibility to work from home, remember small things make all the

difference.

More rewards for the talented few

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Adapt or PerishThe New Norm of the Staffing World

Considering the fact that an average company spends $4000 to fill an open position, and takes close to

50 days to close a candidate, recruitment is no longer a small game, especially if you get it wrong. In

fact good hiring is what actually separates a mediocre organization from a successful one.

So from where I see it, staffing firms actually have a great responsibility on their hands. The task of

getting this nation’s economy back on track by ensuring smooth flow of talent. Remember every empty

desk at an office is hurting our economy bad, every open position is a reminder to constantly reinvent

the traditional, and to look beyond the realms of the ordinary. No wonder staffing firms have to

constantly evolve in a bid to stay relevant, not only for their clients but also for the economy.

Change Contemplation

Pre-Contemplation

Action Preparation

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CYCLEOF CHANGE

Compunnel Inc. has been a leader in contingent and permanent workforce solutions for over 22 years

now. Presently we are ranked as one of the biggest and fastest growing staffing firms in the US with

huge presence in Europe and Asia as well. With more than 1800 employees, 125 happy clients and

local support in 24 locations, Compunnel has become the first choice of more than 50 Fortune 500

organizations.

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About Us

If you wish to know more about us or have any suggestions then feel free to get in touch atsolutions@compunnel.com

We believe that staffing firms need to look beyond just filling vacancies, and focus more on providing

long term solutions. We are one of the few firms which are trying to spearhead a change in the

recruitment space through our cutting edge sourcing avenues. Whether it’s developing our own

crowdsourcing platform, deploying a massive recruitment marketplace, or building recruitment bots

intelligent enough to handle volume hiring, we know how to think out of the box, and most importantly,

Deliver.

How Are We Different?