Our industry is rife with statistics. So many, in fact, it can be easy to tune them out sometimes. But with more data than ever at our fingertips, it’s critical that we pay attention to data and the stories it tells so that we can best serve clients and candidates.
Here is one statistic that should be especially troubling for staffing firms:
Most staffing firms fail to redeploy between 70 and 95% of their talent.
That means that a majority of your contractors are dumping you after the first date. While there are many variables that can impact contractor happiness, certain types of data provide insights into why most candidates dump their staffing firms after a single placement.
Understanding these insights and most importantly, taking action on them, can make a massive impact on your redeployment rates and ultimately, the success of your staffing firm.
Research shows that doubling your redeployment rate can increase your revenue by 20%. And word-of-mouth marketing leads to almost 70% of placements.
Okay, so we’ve established that unhappy candidates are bad for business. But how can you avoid disappointing candidates? In many instances, it comes down to one critical element:
The candidate wasn’t engaged throughout the talent journey.
Today’s talent is smart. Candidates know their skills are in demand and they have LinkedIn messages, emails and voicemails to prove it. So when their staffing firm goes silent as soon as they’ve accepted their first job offers, it is easy to move onto other recruiters who go the extra mile for your next placement.
That’s why candidate engagement has become such a hot topic right now. 70% of employers have invested, or plan to invest additional resources toward improving their candidate experience next year.
And once you’ve placed a candidate, focusing on contractor care is essential to nurturing and maintaining relationships to increase happiness and especially, redeployment rates.
So how can staffing firms improve their redeployment rates?
Staffing firms have identified candidate engagement as a priority and are investing in it, so why are they still being dumped by candidates? To reap the most rewards from an investment in candidate engagement, your strategy should employ four (4) fundamental components:
1. Use technology (like Sense) to enhance your team’s capabilities
You can say that candidate engagement is important to your staffing firm, but if you aren’t using the latest technology to support your plan, you are most likely falling short.
Strong candidate engagement starts with solid data stored in an ATS. If you’ve been frustrated with or considering switching from your ATS, make sure you consider the impact to your candidate engagement strategy. Setting up your ATS correctly creates a solid foundation that will help you track and store candidate information and establish talent journeys. Think of your ATS as your system of record.
Once you have that solid ATS foundation, the next step is implementing an all-in-one candidate engagement platform like Sense - your system of engagement. Sense helps staffing firms automate, personalize and measure the impact of candidate engagement efforts, so that you can deliver a white glove experience to every candidate, client, and employee and see their impact in real time.
2. Run an omni-channel operation
Today’s candidates aren’t responding to every phone call and email like they were in the past. Think about how you communicate with your colleagues, friends and family. THAT’s how your candidates are communicating too!
Not only should your staffing firm be prepared to communicate consistently with talent across multiple channels, you need the infrastructure to move throughout the candidate journey with the ability to switch and manage communication across multiple channels.
90% of consumers start a task on one device and finish it on another. It’s not hard to picture job seekers taking a peek at your job board on their phones, only to submit their resumes a few days later on their laptops. Top performing firms with high candidate NPS are all employing a mix of texting,
The candidate experience throughout this process should be smooth and consistent to keep talent happy.
3. Hire the right team
At its core, the staffing industry is all about people. So while technology can facilitate, streamline and simplify core tasks, human relationships are still central to your firm’s success. Choosing and supporting a strong team is critical to building and maintaining positive candidate engagement throughout the candidate lifecycle. Some firms even have started building out “contractor care” teams exclusively focused on the placed contractor experience to help drive redeployment and referrals up.
Automation is essential to operating efficiently at scale, and yet in an increasingly relationship-driven world, you can’t afford to give up that personal touch. Implementing smart automation tools will increase your team’s bandwidth for more meaningful tasks and relationship building, and allow your firm to allocate resources where they can have the biggest impact.
4. Focus on the message
With so many trends and statistics demanding your attention, you may not have given much thought recently to your employer brand. But it’s your employer brand that makes you stand out to potential candidates (and retain current talent).
Your employer brand is defined by everything from your company values to your application process to how you communicate on social media. Competition right now is especially fierce, and the staffing firms finding success are those that build a compelling employer brand through consistent messaging and experiences across all touchpoints.
With Sense, your brand is kept consistent across all candidate communications. Sense customizes talent journeys for each candidate to ensure the messages are relevant to their skill sets, career interests and current stages within the engagement cycle.
Stop getting dumped by candidates after the first date.
Sense can help you increase redeployment with a robust candidate engagement and contractor care program. For a deeper dive on the topic of candidate engagement, download our whitepaper: Evolving Candidate Engagement: The Staffing Industry’s Next Superpower.
To get started, schedule a demo and speak with one of our advisors to learn how Sense can make an impact on your business.