Fact time! Harvard Business Review says 45 percent of millennials hear about companies through on-campus recruitment drives. Companies invest a huge amount of funds, energy and time to attract the best talent from universities. The cost of hire includes the cost of sourcing, assessment, background checks of candidates as well as opportunity cost (which begins from the moment a position is vacant in a company until an appropriate candidate fills it).
Imagine what would happen if campus recruitment is not conducted efficiently - you might hire the wrong candidate, and in the end, waste money and resources. This is why companies are looking forward to implementing innovative campus recruitment strategies.
What if there is a blueprint to a successful campus recruitment strategy? Ask and you shall receive it - we have one with six milestones defined for you below.
1. Shortlisting suitable campuses for companies through campus intelligence.
2. Constructing brand visibility of the campus through pre-placement talks.
3. Assessment of candidates in a holistic manner
4. Shortlisting candidates post-assessment through screening tools.
5. Conducting interviews and rolling out offer letters.
6. Communicating with the candidates before the joining date.
It’s the era of digitalization. Times are changing. You may experience several challenges associated with the traditional recruitment process. Companies could lose top talent from campuses with the sheer volume of applicants and manual (or non-digital) methods of screening becoming obsolete.
An extremely slow hiring process creates inefficiency and unnecessarily escalated costs. With a high candidate-employer ratio, there is a manpower and time crunch that makes recruiters miss out on talent.
A Deloitte report states that millennials feel more connected to their company and increase engagement if it makes them feel inclusive. With an increasing focus on the appropriate work culture, companies have sensed the need to go out of their way to ensure the candidates feel welcome. However, diversity is often forsaken as companies seldom have time to reach out to wider audiences.
Consequently, if the company is using an outdated recruitment strategy, it will put them at a clear disadvantage to their tech-savvy competitors. Branding is very important during the recruitment drive as the company must evidently resonate with the best candidates.
Although resumes majorly help judge candidates’ character, it often provides an either inaccurate or a one-sided view. It cannot be considered as the make-or-break document! In fact, 62 percent of recruiters have stated that they come across purposely embellished and falsified resumes far too often.
On the other hand, recruiters might miss out on real talent if traditional methods are utilized to find candidates. There is an urgent need to bridge the gap between the recruiters’ requirements and judgment merely made based on a candidate’s resume. A candidate’s resume is only the tip of the iceberg - a serious effort must be taken to understand the candidate beyond it.
Screening hundreds of candidates, while ensuring a positive experience for each one is a cumbersome task that is simply impossible to conduct manually through the traditional method. This might turn out to be an overly exhausting process for the recruiters as it has to be completed in 2 to 3 days. Additionally, the task of sending out offer letters with no mistake and without any form of digitalization is a big hassle.
If the candidates do not experience a positive experience during recruitment, it might set the wrong tone for the company, and might repel potential candidates too. Candidates would prefer companies that use swift technology as compared to traditional time-consuming techniques.
Let's put things into perspective. A Mettl survey, which recorded responses from over 400 campus recruiters spread across IT, healthcare, retail, and entertainment sectors, the following:
55 percent of recruiters find it challenging to build a pre-placement connection and create brand visibility.
54 percent also stated that coordination of placement logistics (end-to-end management of the campus hiring) with various campuses is a huge hassle.
Another problem area stated by more than 60 percent was conducting the right assessments to filter out the suitable candidates for interviews, and for 45 percent of recruiters grading the assessment was an issue considering the time and resources crunch.
Further, more light is shed on a huge waste of resources, as 38 percent stated that lower offer provision to joining rate is a major challenge.
Scalability and efficiency in the current recruitment process can only be achieved through the incorporation of technology at each step. Right from processing information of hundreds of candidates in a short period of time and coordinating with college placement teams, to sending out offer letters in bulk - as we know technology can revolutionize campus recruitment strategy plans in their entirety.
Recruiters who leveraged digitalization in order to augment their hiring strategy fared much better than their peers, as their onboarding rate witnessed a hike to 75 percent. On the other hand, those who conducted their process without any modern tools recorded an onboarding rate of 65 percent.
Innovative campus recruitment technologies and the digitalization of manually conducted recruitment processes are becoming a popular trend now. In the vastly competitive recruitment arena, if companies lack digitalization, it might create an offsetting experience for the candidates, causing the companies to lose out on top talent. Moreover, incorporating technology and intelligence mechanisms will boost efficiency by vastly reducing their hiring costs. It would be a win-win situation for both recruiters and candidates, leading to the creation of the best campus recruitment strategies!
With the onset of the pandemic, the recruitment process had to be shifted online as very little opportunity exists for face-to-face interaction. This 180-degree shift calls for an urgent revamp of the hiring strategies to transform with the help of technology. These emerging and fast-growing technologies will benefit each stakeholder in the recruitment process, and help companies hire top-notch candidates without any worry of reaching their location or college.
Times are evolving swiftly, and so must companies. It has become essential to keep up with the competitors as companies are racing to revisit their strategies in order to extract the desired outcome of their initiatives. It is no longer optional to incorporate technology and innovative campus recruitment strategies in the end-to-end process of hiring.
No doubt, companies will need an immense amount of time, funds and resources for their hiring processes. They are increasingly looking for help to transform and reform the current status quo. Freshteam’s Campus Recruitment Software serves as an ideal partner to companies with its campus recruiting strategy template.
What does this software do?
It empowers companies to break away from the traditional and obsolete methods, and take the first initiative towards a renewed hiring process, using the best campus recruiting strategies.
It facilitates a smooth and easy process of acquiring young talent by companies on campuses.
It enables solutions driven by technology which allows companies to conduct large-scale recruitment at campuses.
Automation paves the way for the elimination of time-consuming manual intervention. Consequently, the time spent to implement tasks will reduce significantly.
In order to make the company stand out among others, the entire process of recruitment must be smooth and hassle-free. Companies utilizing smart software that offers a rich experience can see an eventual rise in their brand visibility.
Campus hiring usually entails assessing a large number of candidates in a matter of days, causing a huge strain on the talent acquisition teams of companies. This is where the campus recruitment software steps in. With a robust campus recruitment software, you process loads of information with absolutely no errors. You can send out mass offer letters/rejection letters and assessment links - all with just one click.
It is becoming increasingly difficult to impress the new Gen Z entering the workforce. Like fuel to fire, impressing candidates virtually is a challenging task in itself. However, the right tools can enable you to remain at the top of your game. A campus recruitment software will augment your company’s image before the candidates and enable it to stay ahead of the times.
Freshteam’s campus recruitment strategy plan can support companies in hiring young talent as it efficiently solves the most evident hindrances in the current recruitment processes.
With this feature, you can conduct several rounds of interviews with different panel members. You can understand the candidate swiftly and beyond their resumes, by including all information, emails and comments from other panelists too.
The first stage of assessment is a crucial component as it helps screen the base knowledge of candidates. Freshteam's Campus Recruitment Software comes with the capability to integrate with the best and most widely used tools such as Codility, Class Marker, HackerRank, etc.
Due to the prevalence of a wide variety of roles in the industry and within companies, the rule of "one size fits all" is getting obsolete. But that is not going to be a barrier. Freshteam offers customizable scoreboards which enable a more fitting assessment of skills for different roles.
The process of campus hiring continues beyond recruitment. Providing offer letters to a bunch of candidates is a major task, involving a ton of paperwork. Freshteam comes with a unique feature that helps digitalize offer management. Right from sending offer letters to collecting verification documents you can do everything with Freshteam at your service!
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