Effectively communicate to your current and future employees the total value of the compensation and benefits you provide with a total rewards statement and realize better employee engagement and performance.
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The next evolution of CandidateRewards is almost here, bringing with it a variety of new tools for busy recruiters, HR pros and talent acquisition specialists. While the first version of the platform gave employers a major edge in making candidate recruiting and onboarding more streamlined and engaging, our new version offers a whole new set of features designed to accelerate the recruiting process, boost candidate conversion rates and cut costs for talent acquisition teams.
Here are four of the most innovative features of the upgraded CandidateRewards platform:
Enter the virtual reality interview, an opportunity for job seekers to take a potential employer for a real-life test-drive before even walking into the office – and vice versa.
No More “I Wish We Had Known That Before…” Complaints
Imagine you’re hiring a captain for an oil tanker and want to gauge how the candidate manages a panicked crew in the middle of a squall. Without paying to fly the prospect out to your ship and throwing them into a weather emergency, it’d be impossible for you to know how he or she would react in such an extreme situation, and you may end up finding out the hard way that the candidate was never right for the position in the first place.
Real-World Training Without the Big-Buck Investment
Employee onboarding, development and training processes are some of the most expensive investments a company can make. In fact, organizations routinely spend some 150% of an employee’s salary just to get them up to speed. VR gives companies a cost-effective training option the enables them to help new hires gain hands-on experience without investing in additional expenses like mentors and training resources.
Testing, training, touring – the sky’s the limit with what a virtual reality interview can accomplish for companies. Learn more about the innovative ways companies are already using VR in HR by checking out 1-Page’s full article.
Outside the walls of the human resources department, there’s been talk of splitting the HR function in two. According to the Harvard Business Review, companies would then be left with their compensation and benefits team on one side, and a team devoted to managing and developing talent on the other. The reasoning behind this idea is that the traditional HR function lacks the perspective and insight to “relate HR to real-world business needs.”
There’s no question that employee recruitment, engagement and retention initiatives can be a massive driver of organizational innovation often spearheaded by the CEO. But should these priorities take precedent over the compensation management and administrative responsibilities overseen by the CFO?
With all the talk about HR finding ways to impact real-world business results and improve people capabilities across the organization, maybe companies should look in a different direction entirely. How about at the department responsible for driving people to take actions that add to the bottom line?