Online professional network LinkedIn, which currently has over 1 million members in Malaysia today released its 2015 Global Recruiting Trends Report. The report provided talent acquisition professionals with insights into the global and Southeast Asian (SEA) talent landscape.
According to Feon Ang, director of LinkedIn Talent Solutions in the Asia Pacific region the pitch for highly-skilled talent continues across the region, and has emerged as one of the most important priorities for companies in Southeast Asia.
“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,” said Ang.
The report unveiled three key trends that will shape the recruitment industry in 2015.
1. Companies will invest more to create and build awareness
More than half of companies (56%) surveyed in SEA 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 SEA, 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.
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%.
2. Online professional networks will help build a strong employer brand.
Digital and social tools take the lead in promoting the employer brand in SEA.
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.Around 41% of respondents say this is a priority. On the other hand, 44% acknowledge the importance of getting onto the mobile bandwagon, but they have not started yet.
3. Passive candidate recruitment is on the rise in SEA.
In 2015, talent sourcing will experience a shift in the tide as online professional networks continue to become more important as a channel.
This shift is aided by the growth of passive candidate recruitment, with 65% in SEA 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.