Recruitment tips: how to become a subject matter expert
So much has changed in the past five years, the employment marketplace of 2010 would hardly recognise itself now. Right now, trillions of candidate data is being analysed to make our work smarter, more effective and more efficient. A key concept that underpins successful talent sourcing techniques for today’s highly-competitive environment is becoming a subject matter expert.
The key to becoming a subject matter expert
Data, data, data! Data = knowledge = power, and to become the best in the business you need to be able to access the right data, interpret it and use it to your advantage. Becoming a subject matter expert hinges on your ability to find meaning in the data and communicate this clearly to others. Once you unearth the insights, these will allow you to pre-determine how easy or difficult a role may be to source, assist you to make decisions on what advertising and search products will work best for your needs, and positions you as a subject matter expert within your industry.
The past five years have seen unprecedented change with significant shifts in demographics, globalisation of workforces, mobile adoption and big data analytics. Identifying how that shift impacts your talent sourcing strategies and what you need to do to constantly evolve your recruitment practises is imperative, as the market continues to tighten.
Finding data sources
Finding reliable and credible data sources is the first crucial step.
There are a number of paid and open access websites that have extremely valuable data that's updated at least once a year. Consider subscriptions to the likes of Euromonitor and IBISWorld for solid information on the macro-environment in relation to particular industries. In regards to open access, start with the following:
- Your own data – review records on retention, turnover, salary bandings, time of tenure, length of time position has been open and look for trends and reoccurrences.
- Job Outlook – this is an initiative by the Department of Employment that looks at long-term employment trend analysis and growth predictions.
- Department of Employment – annual employment analysis reports and national and regional employment projections.
Whilst projections are always subject to macro-environmental conditions, they are a great way to understand potential movements in the future employment marketplace and build more robust conversations with your hiring manager.
SEEK also has comprehensive data sets available to recruiters and hiring managers to use. There are three key industry insights we offer our clients on a regular basis:
- Candidate supply and demand – demand is easy for us to measure as it is captured through ad volume. The more ads, the greater the demand. We also calculate the average applications per ad and index them, producing a monthly measure called the SEEK Employment Report, allowing you to see if ads or apps are increasing or decreasing at a greater rate.
- Salary – SEEK’s salary report captures the average minimum and maximum salary bands populated by advertisers for every job on the SEEK site. We can report if these are increasing or decreasing and by what, and allow you to see if your roles are stacking up against others in the industry pay wise.
- Candidate behaviour – as candidate behaviour continues to evolve, these measures become increasingly insightful. We are able to report on how candidates search for jobs, on what device, for how long and what their search methods reflect.
In addition, SEEK prepares an industry insights snapshot. This provides analysis of each of the 29 classifications defined on SEEK. Drilling down to sub-classification level, you can access information on average salaries, the top 20 search words, candidate behaviour insights and average application numbers.
When you understand the pressure points and identified trends through employment projections, and then make them real by overlaying real time candidate supply and demand trends, you'll be able to appropriately influence hiring managers. Dig deep into the data and use your insights to shape your value proposition and position yourself as a subject matter expert.