Struggling to recruit for your business? You’re not alone. The retail & hospitality sector employs more people than any other sector in the United States. More than 20% of US employees work in retail & hospitality, which is 9 million more employees than any other sector. In today's competitive labor market, businesses face challenge after challenge when recruiting workers. And yet, 75% of those enterprises are struggling to fill their open positions.
The challenge is not only in finding high-quality candidates who have the skills and experiences necessary for these open positions but also in finding enough of them. With the applicant-per-hire ratio at a staggering 51 applicants for every hire, your business needs to build a robust talent pool to ensure you can recruit stronger and fill your roles faster.
Looking for solutions to build up your talent pool and recruit faster? Look no further.
Speed
Speed is critical in order to build up your talent pool. The traditional hiring process often involves sifting through stacks of resumes, conducting time-consuming interviews, and struggling to find the right candidates amidst a sea of applicants. If you haven’t responded to a candidate within two weeks, it’s likely that you’ve lost them - 66% of candidates say they’ll move on if they haven’t heard back before the end of 2 weeks. Analyze your current hiring practices - where can you streamline your process? Are you taking too long to interview? Is it time for a new hiring tool? Assessing where your recruiting and hiring process is stalled can help minimize the loss of candidates, reduce your time to hire, and fill your roles faster.
Taking the Plunge into AI
In looking at other ways to build your talent pool, it may be time to start outsourcing some of your processes. Artificial intelligence (AI) plays a critical role in addressing some recruiting challenges. AI can efficiently match job openings with potential candidates, making your recruitment efforts more efficient. It excels in sourcing by uncovering opportunities for candidates who might not have even realized they were qualified. As of May 2023, 65% of recruiters are using AI in their recruiting process. Take a look at some of the ways you can use AI in your recruiting process below.
Resume Scanning: AI-powered systems can quickly scan and analyze large volumes of resumes to identify candidates who possess the required skills, qualifications, and experience.
Keyword Matching: AI algorithms can match job descriptions with resumes, identifying relevant keywords and phrases to ensure a higher degree of accuracy in candidate selection.
Sourcing Automation: AI tools can search across various online platforms and databases to find potential candidates, saving recruiters significant time and effort.
Diversity and Inclusion: AI can help identify and promote diversity and inclusion by removing biases in the sourcing process, ensuring a more equitable selection of candidates.
Sourcing Passive Candidates: AI can identify and engage with passive candidates who may not be actively job-seeking but could be open to new opportunities.
Reducing Bias: AI can help minimize unconscious bias in sourcing by focusing solely on qualifications and skills, rather than factors like name, gender, or ethnicity.
Source Where They Are
Perhaps the recruiting challenge to building your talent pool is finding the right applicants. Job seekers feel the same way - with 61% of hourly job seekers expressing that their most significant employment obstacle is finding the right jobs to apply for. Bridge this gap in the recruiting process by finding candidates where they are. Target the best candidates by sourcing them from dedicated platforms for your industry; whether food service, hospitality, or retail, there is a platform out there dedicated to the perfect candidates for your jobs!
With these resources at your disposal, you will be building your talent pool in no time at all, reducing the time and costs to recruit and hire.
How Can I Build My Talent Pool?
Interested in learning more about how JobGet can help fulfill your hiring needs? Reach out to us to learn more about our platform and services! We use AI-powered, skills-based matching technology to help build your talent pools and fill your jobs faster.
Interested in learning more about how JobGet can help you fulfill your hiring needs? Your next great hire is just a click away!