10 Best Recruitment Methods You Should Know
Since the early 20th century, recruitment methods have been studied and analyzed. There are several methods that have proven to be the most effective over time. In addition, some of them can predict whether or not a candidate will be the right fit for your company.
In this blog, we’re breaking down the ten highest performing recruitment methods that have shown exceptional results for businesses over the last hundred years.
#1. IQ Tests
The best recruitment method is the IQ test or the General Mental Ability (GMA) test. An individual’s IQ is the most accurate measure of their academic strength, learning abilities, and how successful they are in their area of expertise.
In addition, an IQ test can in some measure, can anticipate the amount of money an individual will make in their lifetime. An IQ test can be used to hire for any position in any industry because it’s an assessment that isn’t particularly related to a person’s job knowledge.
IQ can predict how quickly a candidate will learn new skillsets. In other words, individuals with a higher IQ will have a shorter “time to productivity”. Not only this, but their IQ can determine just how successful they’ll be in their role.
While a candidate’s IQ is crucial, it isn’t the be all end all. A General Mental Ability test predicts up to 26% of a candidate’s potential job performance. That means 74% of their job performance is open for observation.
As an employer, the decisions you make should not solely rely on these tests, however, they should be considered during the hiring process.
#2. Work Sample Tests
Short assignments are an efficient way to measure a candidate’s potential. It’s possible to hold group work sample tests to get a sense of how candidates interact with other team members.
Observing a candidate’s collaborative skills is an important part of the hiring process.
#3. Unstructured Employment Interviews
Most employers are already used to conducting interviews with potential candidates. However, the way an interview is structured can determine how effective they are.
Utilizing unstructured interviews can only predict around 14% of a candidate’s performance, whereas a structured interview predicts up to 26%. You need to be confident in a candidate’s skill level and experience, especially when it can affect your company’s overall performance.
#4. Structured Employment Interviews
Structured interviews have proven to be more effective and beneficial to companies both big and small. When an interview is structured, it’s possible to compare each candidates scores and make a more informed decision.
With structured interviews, hiring managers are asking the same questions to each applicant, making it easier to compare their skill level and experience. Comparing candidates on the same criteria also decreases the chances of bias.
#5. Improving Job Postings
Diversity in the workforce is an important subject that often poses as a challenge for HR managers. Recruitment methods can provide some clarity in this area.
Countless studies have shown that the wording a hiring manager uses during the interview process can sometimes discourage certain groups of individuals from applying for a job. This includes sexuality, gender, age, race, and ethnicity.
If gendered wording was eliminated during job interviews, employers would witness a 42% increase in applicants.
Employers working in the tech industry often struggle to find talent in their field. In today’s digital age, candidates in tech are in high demand. Traditional hiring methods aren’t quite as effective with candidates in this industry.
Younger applicants in tech aren’t willing to go through various interviews and assessments, unlike candidates in other professions. Gamified assessments provide a better hiring experience for candidates in the tech industry.
#7. Peer Ratings
Many recruiters prefer to find candidates utilizing peer ratings. Feedback from a candidate’s previous employers can be extremely helpful in the hiring process.
Dissimilar to traditional employee performance reviews, peer ratings offer more information regarding a person’s skill level and experience in their field of expertise.
Peer ratings aren’t based on self-assessment but allow recruiters to better understand how a candidate is perceived by their fellow employees and management. This method can only be used on individuals who have peer-review data.
#8. Employee Referrals
It’s possible for your employee ambassador network to find your next potential hire. Employee referrals even reduce cost and time for each hire than other recruitment methods. Talent that is introduced by referral is more likely to stay at their jobs longer.
With this is mind, employee referrals may affect the diversity within your company, considering an employee’s professional network often comprises people who are in their social circle, or even live in the same area.
#9. AI-based Screening Process
Technological advancements in AI (artificial intelligence) can prevent recruiters from spending countless hours sifting through resumes. You could lose up to 14 hours a week just by not automating your hiring tasks.
AI is starting to play a major role in the recruitment process. This advanced technology analyzes historical data and utilizes it to make decisions for hiring managers.
#10. Hiring Freelancers
In the post-pandemic era, more individuals in the workforce are making the switch to online work. The gig economy is one the rise, and it’s providing more hiring options to businesses everywhere.
Hiring freelancers is extremely cost-effective. Freelancers still need to go through a traditional recruitment process; however, the costs are significantly lower.
Differing Hiring Needs and Challenges
Every company will vary in hiring needs and hardships to conquer. With that said, this list will give you a better idea of the recruitment options available today.
As your company grows, so will the challenges that come along with it. FRIDAY is a software that was created to revolutionize team management for small businesses.
FRIDAY Helps Small Business Manage and Pay Their Team
When it comes to managing, tracking, and paying your employees, additional help goes a long way. FRIDAY is the simplest software created to help small businesses manage, track, and pay their team without any paperwork involved.
FRIDAY is an easy to use, yet powerful payroll and team management solution.