2018 has brought a change in the recruiting landscape. Recruiters and hiring managers are now more focused than ever; trying every possible way to retain talented candidates.
Blind hiring isn’t always a good idea. Increased awareness among job applicants, the fear of negative employer branding, poor candidate experience and shortage of top talent are some major threats that are faced by the recruiters.
In a candidate-driven job market, employers compete to attract, hire and retain top talent. According to a CareerBuilder survey, organizations are looking ways to revamp hiring effort to fill maximum job positions in 2018. Unfortunately, 45 percent survey respondents accepted that they’re unable to fill job vacancies due to shortage of qualified talent.
If your existing recruitment strategy isn’t helping you to hire top talent, then identify issues in the process. Take help of recruitment data to spot problems at various stages in the process and fix them in a timely manner.
The article highlights few surprising recruitment statistics that may inspire change.
These recruitment statistics highlight possible challenges in an applicant tracking and hiring process. Recruiters can take timely corrective actions, when issues are identified on time. Leaving a negative impressions on a candidate during the hiring process could be a turn off.
Today, job seekers want to remain informed on their application status at every stage of the process. Communication is the key in establishing healthy relationships between applicants and the recruiter. Embrace latest recruitment trends and technology to hire top talent. Follow these recommendations given below and don’t let any threats sabotage your hiring efforts.
A Global Recruiting Trends Report presented by LinkedIn, highlights 4 hiring trends that may go a long way to transform recruitment process.
Attract Diverse Candidates
Diversity in the workplace has become a hot topic in the recent times. Hire people from all walks of life, irrespective of their gender, caste, colour, values, skills, disabilities, sexual orientation, ethnicities, etc. Diverse workforce gives better performance in delivering projects and creating new business markets. Multiple researches show that a group of diverse problem solvers outperform a group of high-ability problem solvers.
A recent survey by the Society for Human Resource Management (SHRM) found that 57% of recruiters say their talent acquisition strategies are designed to attract diverse candidates.
Embrace HR Technology
Traditional interviews do not produce good results due to bias of interviewers, lengthy process, inability to assess soft skills and ask best questions, and more. Use advanced technology tools to reinvent interview process, improve candidate experience and have better ability to assess employee skills.
Meeting hiring managers in casual settings (like coffee shops), video interviewing conducting soft skill assessments, giving virtual reality assignments, using applicant tracking system are few ways to leverage technology to better understand a pool of candidates. This could be an effective way to find and identify a candidate’s capabilities.
Use Data Analytics
In data-driven recruitment, hiring methods are well-planned and decisions are made based on data acquired through HR technology. Data analytics is helpful in predicting hiring outcomes. It improves quality of new hires and reduces time to hire and cost to hire.
With the help of analytics, one can understand the significance of current hiring practices and plan future hiring strategy.
Recruiting data is acquired to evaluate skill gaps, increase employee retention, understand candidate expectations, predict candidate success, forecast hiring demands, assess talent supply and demand, create good job offers, and more.
Adopt Artificial Intelligence
52% of talent acquisition leaders say that the most difficult part of their job is to screen candidates from a large applicant pool. Recruiters are asked to do more with less, and hence AI comes to the rescue.
Finding the right talent is critical and parsing resumes is even tougher. Taking help of AI saves time, effort and overall spending that goes in recruitment. It increases talent acquisition efficiency and effectiveness. AI may not necessarily choose the right person for a vacant job role, but it can offer great help to make recruiters smarter.
If you think recruiters will be replaced by bots or machines or software, it’s not happening anytime sooner though. Hiring decisions will be made by humans, however technology will play significant role in making informed decisions. And that’s all what matters. A successful work environment is one where top talent is hired, employees are highly productive, and decisions are data-driven!
Gain insights through the above-mentioned recruitment statistics and trends and bring a transformation in your recruiting and hiring processes.