Hiring volumes expected to grow faster than budgets, according to recruiting report
Also recognise need to promote their digital presence on mobile-friendly platforms
MORE than half of companies (56%) surveyed in South-East Asia for LinkedIn’s recruiting trends report said they are spending more to raise general awareness of their company to establish a strong employer brand.
With the view that competition for top talent is increasing (54% in South-East Asia, exceeding the global figure of 42%), coupled with a planned increase in hiring (53%), companies have said that spending on the employer brand will increase, LinkedIn said in a statement.
The online professional network, with more than 332 million members worldwide and 61 million in the Asia Pacific region, recently released its 2015 Global Recruiting Trends Report, which it said provides talent acquisition professionals with insights into the global and South-East Asian talent landscape.
Delving into the concerns of talent acquisition leaders this year, the report also outlines the plans these professionals have for 2015.
Conducted for the fourth time globally and for the second time in South-East Asia, this year’s study polled 4,125 talent acquisition leaders across 31 countries and 14 industries, including 385 leaders from this region.
“The pitch for highly-skilled talent continues across the region, and has emerged as one of the most important priorities for companies in South-East Asia,” said Feon Ang, director of LinkedIn Talent Solutions in the Asia Pacific region.
“With hiring volumes expected to increase faster than hiring budgets, talent acquisition leaders and business leaders will need to be smarter about creating and building their employer brands so they are top of mind as they seek to attract the best in their industry,” Ang added.
Spending more to burnish a strong employer brand is all the more vital when 86% of those polled said they are aware of its impact on their ability to hire great talent.
This is because a compelling talent brand – what the talent thinks, feels and shares about a company – can reduce the cost per hire by up to 50% and lower the turnover rate by 28%, said LinkedIn.
Other trends identified are:
Digital and social drive
Digital and social tools take the lead in promoting the employer brand in South-East Asia, the company said.
Right after company websites, online professional networks such as LinkedIn have become the most effective in spreading the employer brand (56%). This is followed by social media platforms such as Facebook and Twitter at 53%, and word of mouth (through family and friends) at 51%.
As the use of online professional networks becomes more prevalent, companies are also recognising the need to promote their digital presence on mobile-friendly platforms, with about 41% of respondents saying this is a priority.
On the other hand, 44% acknowledge the importance of getting onto the mobile bandwagon, but they have not started yet.
Passive candidate recruitment on the rise
In 2015, talent sourcing will experience a shift in the tide as online professional networks continue to become more important as a channel, LinkedIn claimed.
This shift is aided by the growth of passive candidate recruitment, with 65% in South-East Asia citing that it’s part of their hiring strategy to target this group of potential talent, ahead of the global average of 61%.
And with passive talent accounting for 75% of all professionals worldwide, the use of online professional networks as a recruiting approach cannot be undermined, the company said.
For more details and individual country reports, check out the 2015 Global Recruiting Trends Report microsite.
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