Reverse recruiting: the future of hiring tech talents
Hiring tech talent is the number one challenge for many HR managers and recruiters around the world, and it's about to
become an even bigger challenge. In the coming years, the number of available technology jobs is expected to increase
exponentially.
For this reason, it is more important than ever to prepare. Even companies that already have a good pool of candidates
should improve their hiring strategy to remain competitive, and reverse recruiting through platforms is
the way to do this.
What is reverse recruitment?
As the name suggests, reverse recruiting is a hiring model in which companies target candidates, reversing the process.
This modality is more common in the technology sector, since the shortage of talent requires innovative ways to attract it.
Since reverse recruiting puts the developer front and center by allowing companies to target them, most developers use
these platforms over other channels.
Optimization of hiring processes
There are a number of parameters that can be used to measure the success of the recruitment strategy, three of which can
be optimized with reverse recruitment: time-to-fill, cost per hire and number of qualified candidates.
There are two performance indicators related to the time it takes to fill a position, often used interchangeably, but which
have a significant difference, time-to-fill and time-to-hire:
Time-to-hire measures the time that elapses from when the candidate is chosen until he or she accepts the offer.
The time-to-fill measures the time that passes from when the application is opened until the candidate accepts the offer.
Both indicators can impact the company negatively when they are not managed properly. As for time-to-hire, no candidate
likes a long hiring process, so reducing time-to-hire is key to attracting new workers.
"Engineering positions take the longest to fill compared to other departments. To put it in perspective, the average lead
time to fill a position of this type is 62 days, and sometimes even longer. A reverse recruiting strategy has a positive
impact on both time-to-hire and time-to-fill, as it targets developers who are undoubtedly looking for a new job.
Hiring cost
The cost per hire measures what it costs a company to fill a vacant position and consists of many elements, such as:
-
Costs related to job advertisements
-
Recruitment software expenses
-
Salaries of those in charge of recruiting talent
-
Salary and time dedicated by the people involved
-
Employer branding activities
-
Transfer expenses
The cost of hiring a position depends on the level of experience and the department. As demand for tech talent increases,
the cost per hire for engineering positions is one of the highest, so it's no surprise that companies are trying to keep
it as low as possible. However, some experts advise that attracting top talent and growing your business requires investment,
and minimizing cost per hire limits your ability to attract top talent.
Number of qualified candidates
This metric measures how many candidates applying for the position are worth having an initial conversation with, meaning
they meet the core requirements of the position.
Reverse recruiting platforms allow you to use filters to ensure that all developers match your core
requirements, increasing the pool of qualified candidates to close to 100%. This is especially interesting considering
that the requirements for tech jobs can be a little more complex than those for other positions.