Businesses today are faced with a number of difficulties and problems, including business competition, demographic changes, globalization, the value of diversity, service outsourcing, recruitment, the impact of reputation, and ongoing technological change. All of this puts us in a position where adaptation and continuous adjustment are required.
The recruitment sector is developing quickly. It’s been difficult to hire people because no algorithm or program can fully handle it for you. The process can be improved to be more efficient, inclusive, and accessible thanks to a number of technologies. Technology companies have mastered this strategy. This article will cover how technology will change how and who we employ, as well as, more importantly, how to streamline the hiring process. This information was derived from a study Vikram AhujaForbes conducted for Forbes.
What Is Causing the Change?
1. The first is globalization. Businesses that want to expand internationally need to have access to talent worldwide, not just locally or regionally. Nowadays, competition comes from all directions, but from the standpoint of an employer, it means more talent is accessible.
2. Due to the COVID-19 pandemic, businesses have accelerated their digital transformation, enabling their employees to work from home in safety and their customers to interact with them online in ways they couldn’t before.
3. Changing employee motives In the past, top talent could be attracted with competitive pay. But as remote work becomes significantly more common, work-life balance becomes the most important factor. Additionally, companies with a distinct mission tend to attract customers, especially Gen-Z and younger ones.
4. The current hiring procedures are inadequate; people will accept or reject jobs based on how the hiring process is handled. The top three reasons for rejection are 1) a lack of communication or a delay; 2) unclear selection criteria; and 3) the length of the interview process.
Careful recruitment practices can make a difference in an organization’s capacity to draw in and retain talent. When it comes to hiring, both employers and job seekers need to be more deliberate and transparent about their expectations.
Top 5 Trends in Hiring That Recruiters Should Know About
The Business Tech Weekly blog lists the top 5 trends in talent acquisition that recruiters should be aware of to stay on top of the market.
1. Applicant Tracking Systems (ATS)
HR software that electronically controls the application process is known as an ATS. Several application workflow phases may be automated with the use of an ATS. This frees up the recruiters’ time so they may concentrate on more valuable hiring processes like interviews that are more valuable. An ATS has been shown to aid in employee retention and the onboarding of new hires.
2. Chatbots
For a while now, chatbots have been a favorite among marketers. 58% of applicants said they felt comfortable chatting with chatbots during the early stages of the hiring process. Chatbots can perform a variety of tasks, including updating applications and pre-qualifying candidates. This can result in a 50% reduction in hiring expenses and time.
3. Recruiting Software
The majority of candidates rather than employers drive the labor market today. The probability that the finest applicants will locate and apply for the positions you have open in your company can be considerably increased by using recruitment software. HR managers can utilize specialist hiring tools to guarantee legal compliance and foresee any problems.
4. Social Media
It is becoming more and more common to use social media platforms like Facebook, LinkedIn, and Twitter to find the best candidates. 70% of companies look at a candidate’s social media profiles to determine whether they are genuinely interested in the position. Online interaction with those who share your interests enables you to create bonds that may result in successful recruitment.
5. Virtual Reality
Virtual reality is a popular topic in all areas of business, including hiring. Virtual reality may help to improve candidate experiences at many points, from spotting top talent to enhancing employee capabilities. This will help to strengthen the employer brand while enhancing the candidate experience.
Talent acquisition is without a doubt one of the most significant and influential responsibilities of an organization’s HR department. Recruiters must keep up with new trends if they want to manage hiring in a modern, improved way as technology develops.
