For many companies, the first quarter of a new year means adjusted budgets, improved business goals and an influx of new employees. Hiring strategies play an important role in company performance, so it is essential that managers and executives stay on top of the latest hiring trends. Employers who are well-informed and use industry shifts to their advantage will be better poised to make smart hiring decisions and beat out competitors in the coming months. Here are a number of important trends that experts predict will set the ground for hiring in 2015.
The lay of the land
Many job seekers may still be struggling to find positions that fit their qualifications, but the market has been steadily improving from its post-recession state. Hiring managers across a number of industries reported that they plan to bring on more new employees than in past years. The LinkedIn Global Recruiting Trends report, which was based off information from more than 4,000 recruiting leaders, showed that 63 percent of recruiters will have a higher hiring volume and 46 percent will have a higher budget in 2015. These numbers show a significant increase over the same data collected in 2013.
Another important factor spurring new hires in 2015 is the Patient Protection and Affordable Care Act. A survey from CareerBuilder showed that 14 percent of employers plan to bring on more part-time workers in the coming year as a result of the ACA. These predictions are promising for un- or underemployed individuals, and a better job market may mean more qualified candidates for employers to review.
Know who you are hiring
A greater number of applicants to choose from is certainly a good thing for many human resource departments, but it can also make the hiring process trickier. Unfortunately, many candidates may misrepresent themselves on resumes or in interviews, and it is up to hiring managers to spot these inaccuracies. Studies have shown that up to 70 percent of applicants may commit resume fraud and 60 percent of HR professionals report finding resume inaccuracies.
While slight misrepresentations may not seem like a big deal to candidates, they can cause serious problems for hiring managers and HR departments. Even small lies on resumes can make the difference between a bad hiring decision and a good one. The National Business Resource Institute reported that a single bad hire can cost a company between $25,000 and $300,000. Of employers that experienced the repercussions of a poor hire, 43 percent noted that they took on the worker because they needed to fill a position quickly and did not do adequate screening.
Partner with screening experts
Businesses can protect themselves from these types of losses by partnering with a trustworthy pre-employment screening expert. Time magazine noted that the hiring process will likely become even more rigorous in 2015, so it is essential that HR departments have a fast and efficient method of screening candidates. When employers work with Global HR Research, it gives them the freedom to focus on candidates’ core defining factors during interviews, as they can leave technical details, like background checks and talent assessments, to the professionals.
Hiring is the most important thing you do. Trust it to Global HR Research. Find out more by calling 1-800-790-1205 or visiting the GHRR website today.