Trends seen in the Recruitment Industry
With the happenings of the ongoing recessions, some industries, like recruitment, manage to stay afloat by adapting. In the hiring biz, technology breaks the glass ceiling by forming different trends across the globe.
Here are some trends that, according to industry experts, have set a new definition in the recruitment business.
Artificial Intelligence will interrupt –
With global connectivity and AI technology, opportunities present themselves at a local level and a global one. The laborious and time-consuming recruitment process has become considerably short. The use of AI assistants or chatbots in the screening process saves time. Moreover, AI assistants can shortlist candidates without bias and a broad diversity pool. A smarter way of hiring candidates, AI is efficient. The streamlined approach to the candidate reduces the cost.
Data analysis –
Data analysis, in combination with AI technology, is a game-changer in the field of recruitment. Though data analysis is older, time is of the essence, and with the help of AI, recruiters can select the right candidates. There are numerous companies across the market. The general approach of a candidate is to apply through different channels. Since the process is faster, recruitment also becomes easy, and the right candidate is selected. With digitalization playing an integral role in the hiring business, AI algorithms, in combination, with analysis identify potential candidates before initial contact.
Inbound marketing –
The purpose of inbound marketing is to increase a companies Employer Brand recognition while also engaging future candidates. On some occasions, potential candidates aren’t very receptive to outbound marketing practices such as telephone and adverts. Thus, adopting inbound marketing practices will help attract the right candidate.
Email is not dead –
With digitalization into the picture, every industry, including recruitment, uses email. With the option of blocking or marking emails as spam, recruiters need to have a carefully structured email to get the message through. Efficiency, personalization of content, engaging subject line, and effective automation are traits of an email. There are three tips to run an effective email campaign.
Designing the email – The Use of engaging content, a good color scheme, paying attention to graphics, whitespace, design, text, etc., to build up a compelling email.
The A/B test – wherein the recruiter creates the same email using two different color schemes, CTAs, images, length & tone. The test makes it possible to optimize click-through rates to the recruiter’s website or landing pages.
Change in workplaces –
Though many recruiters have strategies for diversity hires in play, a few businesses do not have one. In a competitive market, companies that absorb diverse candidates gain an edge. It is not only people who make up the workplace. Employers across the globe are giving up the practice of micromanaging. The idea of having a flexible time and no set workplace has become attractive. Therefore, today, recruiters have the freedom to work where and when they want. Another new concept is the rise of co-working spaces like We-work. Every co-working space comes with its set of perks and its work culture policies.
Data Protection –
When potential candidates upload their cv on job portals, they face a risk of data misuse. In India, the Information Technology Act sections 72 and 72 A deal with privacy and confidentiality. Penalty for offenders may either be a fine of ₹100,000 &/or Imprisonment up to 2 years.
Location of the Job hunt –
With an increase in the role of digital marketing, the market has become a busy place. Tough competition aside, the ads posted in job portals bring about many candidates from diverse backgrounds. Major players in the hiring process include tech giants like Google and Facebook. Networking platforms such as Linked in facing tough competition from these companies because they offer free networking. Moreover, each of these tech companies has provisions for specialized job search. With the availability of fantastic data plans across the world, candidates can access emails and hunt for jobs on websites. Content developers today; design websites that are compatible with both a computer and a smartphone. Businesses have become more friendly and carry out interviews through video calling apps. Many recruiters today find social media an area where they can connect with potential candidates. Aside from tapping into a diverse market, recruiters can also connect with passive candidates. Social media permits the screening of candidates and is a cheaper means of talent acquisition. Some companies, especially those involved in branding or marketing, prefer candidates with an appealing digital footprint. Other companies create a career page for job applicants, wherein the data filled may be accessed any time should the company need an immediate hire.
Job referrals are the next big thing –
Unlike potential candidates who undergo a screening process, Referrals can undergo an interview directly. A study conducted by Jobvite shows that a candidate hired through referrals will retain their position for a longer duration in comparison to a traditional recruit.
Reinvent the Interview Method –
Although the conventional interview process is no longer obsolete, the newer one is streamlined and is skill-oriented. The new process accounts for soft-skills, job auditions, video interviews, and virtual reality. The use of these techniques has led to the evolution of attractive talent in the hiring business. Virtual technology is synonymous with the gaming industry, yet today, simulation environments are quickly on the rise. Employers create simulated environments to demonstrate the work culture to their potential candidates. So the candidate has an idea of working for the company. In a VR simulation, the candidate gets a chance to prove himself or herself by skillfully solving the issues. And VR is a trend that is slowly gaining momentum in the hiring business.
In-house recruitment teams –
Hiring in-house, highly qualified recruitment professionals have caught on as a trend. With an entire team to back them, the recruiter can offer be-spoke offers to in-house candidates for a promotion. Human resource team or HR teams in organizations are focused on improving employee turnover while having a strategic impact on business. The recruiter hired in-house as a member of the HR team would have a set of valuable skills. These skills include data analysis, focus on young talent & commitment to the growth of a candidate.
With technology influencing the recruitment process, talent acquisition professionals may use the current trends to stay ahead in the game. However, a recruiter must also invest in the appropriate tools and tech to make a meaningful impact on the business.