In a matter of weeks, our calendars will flick over to April – yes, April. While it only feels like we've just come back from summer holidays, a quarter of the year has already flown by.
This means that Q2 is almost upon us; a time where most businesses get into gear, launching into projects and perhaps fixing some of the issues that surfaced over the first three months of the year. So, if you're a recruiter, what trends should you know about?
Why recruiters need to be marketers
Australia is moving through an employment revolution. For several years now, employees have been in control of the market, able to pick and choose jobs that suit their personal values, lifestyle and compensation expectations. This means that recruiters have to be more creative than ever in Q2 to attract and retain the best talent.
Recruiting Daily suggests that the role of recruiters is changing. Not only do they have to engage the right job applicants, they also have to sell the business's brand too. For example, recruiters need to explain and sell the work environment, showing candidates what life will be like and the value they can get from the job.
Sound like just another task to add to your busy day? This is where Oncore Services can help. In order to simplify your admin without sacrificing compliance and attention to detail, Oncore's flexible One Vendor™ model can provide complete end-to-end solutions for your agency – covering everything from cash flow and debtor management to contractor set-up. Don't let the changing scope of employment affect your ability to complete administrative tasks to a high standard!
Late payments affecting business progression
As mentioned above, Q2 is when most businesses kick into action and commit to longer term projects. And what is a prerequisite for expansionary success? Good cash flow. Based on the latest data from illion, late payment times are dropping, but recruiters will need to be aware of outstanding payments.
In the final quarter of 2017, the average late payment was 11.9 days – down from the 14.4 days recorded in the same period in 2016.
illion Economic Adviser Stephen Koukoulas explained why payment times improved during 2017.
"Late payments fell to a fresh record low at the end of 2017, reflecting the more buoyant conditions in the business sector and the favourable cash position of many firms," he said.
"These favourable finances are being driven by low interest payments as official interest rates remain at record lows. Similarly, record low wage growth is also reducing running costs and boosting cash flows."
Although payment times are decreasing, with a productive and stable system through Oncore, recruiters can ensure they have cash flow when required and stay on top of incoming and outgoing finances.
The importance of workforce analytics
Does data rule the world? Perhaps not yet, but data and analytics are going to be playing a much larger role this year in how recruiters make decisions and interact with their contractors.
Around 40 per cent of organisations are limited to basic HR reporting.
According to IBM, around 40 per cent of organisations are limited to basic HR reporting, while less than 20 per cent can apply predictive analytics to address important people-based issues. This is concerning, particularly because there is much that recruiters can learn from data today and apply to their working environment.
This is yet another area where Oncore's dedicated One Vendor™ model can be useful, as recruiters can use detailed reporting to monitor, evaluate and assist contractors.
Keen to make Q2 a success? Get in touch with the expert team at Oncore to learn more about how our technology can support your recruitment outcomes in 2018.