Whenever we talk of recruitment and job hunting, the recruiters have this perennial grudge of not being able to find suitable candidates, while on the other hand, job seekers complain of job search taking months and seldom getting them their dream job.
So if we think about it, do we truly believe this is a problem of scarcity – both of jobs as well as good candidates? Can it not simply be problem of matching the right job with the right candidate and matching the right candidate for the right job?
If this is more a problem of matching the right job with the right people, then the solution would involve knowing about what kind of people are out there and what kind of work they want and aspire for. We would then see how best we can tailor the jobs available to suit the people’s aspiration.
For exploring a possible solution to this, let us explore some of the key concepts in Marketing and also see if Data Analytics can help us in this endeavor.
Concept 1 – Productization of Job Opportunity
First and foremost we would have to start viewing a job as something more than a list of roles and responsibilities. Rather we should view it as an organization’s key offering or organization’s value proposition to a candidate. In which case, the job description would cover things beyond the roles & responsibilities and the compensation of the job incumbent. It would give a glimpse of what one can expect to experience & gain while on the job – the working environment, practical exposures, learning opportunities, level of empowerment, freedom to explore, personal and professional development etc.
Now, how can we know precisely what to cover in our value proposition? Data analytics can help us identify the key drivers for satisfaction & engagement at work. The advantage is that these drivers would not be based on theoretical knowledge, but on real data, specific to the group of people working in a certain type of work.
Concept 2 – Target Market Need Analysis
Traditionally recruitment has been demand driven i.e. driven by the organizations and what they want. Maybe we should make it this slightly supply driven as well i.e influenced by talent pool and what kind of an opportunity they are looking for.
We can begin by studying existing employees of the organization. We can analyze the key characteristics of the job, work environment and organization culture as well as employees’ performance, tenure with the organization, engagement scores etc. This can help us identify different clusters/groups of employees and their career anchors.
Once we know what drives employees, we can explore enriching, enhancing or modifying the scope of the job to suit their specific needs & aspirations.
Concept 3 – Segmentation
Businessdictionary.com defines Market Segmentation as the process of defining and subdividing a large homogeneous market into clearly identifiable segments having similar needs, wants, or demand characteristics. We can adapt this concept to the job market by identifying segments of people (potential employees in our case) based on their distinct demographic, psycho-graphic, behavioral and other characteristics. This will help us understand how best to reach them and draw their attention.
Concept 4 – Marketing Mix
We can now attempt to adopt the Marketeer’s sacrosanct 4 Ps or Marketing Mix.
The idea would be to design a specific mix for the different target talent pools with the objective of best fulfilling the target group’s aspirations and characteristics while also helping the organization meet its business goals and objectives.
- Product: Here we would describe the job opportunity and the organization’s value proposition.
- Price: Here we can describe the price or the commitment the job incumbent would be giving to the organization- in terms of working hours, work timings, number of working days in a week/month, traveling requirements, being on call while at home etc.
- Place: Here we would need to identify where all we can sell or, mildly put, spread awareness about our job opportunity. This would include identification of the appropriate communication channels to establish connect with the specific talent segment. These can be emails, social media, recruitment consultants, online groups, alumni networks etc. Here we can follow a test and learn process by trying out various channels and then studying the efficacy of each channels. Over time we can understand which types of channels work for which type of jobs as well as what type of target talent pool. This test and learn process would be an ongoing process as the communication channels and the talent pools would keep evolving over time.
- Promotion: Once we have identified the communication channels, we can then use our understanding of target talent pool’s specific characteristics, aspirations as well as career anchors to come up with focused communication messages that would best attract their attention and arouse their interest.
Final Step – Identifying the interested candidate
The last mile effort in our endeavor would be to identify which potential candidate would be interested in joining a particular job opportunity at a given point in time. Here again data analytics can come to our rescue. If we can gather information about individual potential candidate, such as- his/her current employment details, past employment trends, stage of life, etc (which can be gathered from social media), data analytics can help us in predicting a particular person’s likelihood to be interested in a given job opening at a given point in time. The likelihood scores will help us identify whom all to approach for a given job opportunity for higher conversion rates.
Application of the concepts explored here can help us get an in-depth understanding of the kind of people available in the market, what kind of a work and work environment would interest them as well as when they may be open for a job change. It would help us understand how best to reach out to the active and passive job seekers in the market as well as how best to communicate our job opportunities to them. Wouldn’t such knowledge and insights help us in our ultimate recruitment challenge of matching jobs and candidates!
I would love to hear your views. Please leave a comment.
This blog is authored by Arasi Nagappan, Analytics Consultant at BRIDGEi2i
BRIDGEi2i provides Business Analytics Solutions to enterprises globally, enabling them to achieve accelerated business impact harnessing the power of data. Our analytics services and technology solutions enable business managers to consume more meaningful information from big data, generate actionable insights from complex business problems and make data driven decisions across pan-enterprise processes to create sustainable business impact. To know more visit www.bridgei2i.com
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official position or viewpoint of BRIDGEi2i.