With tremendous technological innovations in almost every sector, Recruitment is also being fueled by technological shifts and changes in strategic outlook. Organization are responding quickly to some of these emerging trends.
1. The growing use of Artificial intelligence
Artificial intelligence is becoming a must-have tool for recruiters. AI is being used to source, assess, and screen potential candidates for a given role. It has transformed time-consuming manual activities into streamlined and far more efficient processes.
Artificial intelligence uses the power of Natural Language Processing (NLP) tools. Using NLP, the system can narrow down on more relevant profiles and crunch screening time and effort substantially. Artificial Intelligence software is also now shaping how video interviews are analyzed and interpreted using cues from responses, body language and truthfulness checks.
It has freed up a large portion of time on sourcing candidates and screening applicants, enabling an organization to focus on higher-return tasks like building employer brand and developing genuine relationships with candidates.
As early as 2018 PepsiCo used Robot Vera to conduct phone interviews and it was capable of handling as many as 1500 interviews in 9 hours. If anything, it’s an indication of where technology application is headed in the hiring domain!
2. The growing emphasis on social networks recruitment
Most professionals live much of their lives online. And being on the right digital channels can help connect with potential candidates. Linkedin, Facebook, Twitter, and blogs enable brand building and more targeted outreach.
Social network recruitment allows potential candidates to connect with the company’s brand in a no-pressure environment and build a more personal relationship.
Social network recruiting also helps reach out to passive candidates who may not be actively looking for jobs on job boards or the company’s career page. Social network recruitment is cost-effective. It also provides recruitment-related tools and analytics software to improve the recruitment process and helps companies identify the right talent.
Workforce diversity is amongst the top emerging focus areas in recruitment. Diversity is directly linked to a company’s financial performance and to a company’s culture.
According to a study by McKinsey and Company, companies with gender and racial diversity were likely to have a 35% increase in their financial returns. Diverse teams tend to be more productive and more innovative.
Although diversity is important in recruitment, most recruiters find it hard to attract and retain candidates from diverse backgrounds. Most organizations have failed to crack the code; falling short of their goals and the public’s expectations. This could be because of misconceptions that still exist about certain categories of people. Recruiters are working to address unconscious bias and remove barriers to inclusion during the job application process. And there is still much to be done.
Finally, organizations are focusing on tailoring job descriptions to attract more diverse candidates, making their descriptions more gender-neutral and recruiting from diverse community groups.
4. Use of Applicant Tracking Systems
Applicant tracking systems have made things considerably easier for recruiters in recent years. When companies are hiring for several positions at once, and receive hundreds of applicants for each job opening, it helps to have a system track and manage everything seamlessly.
With powerful search features and advanced filters, they can be extremely effective in profile matching, and also help the process management with interview scheduling and onboarding functionality.
The ability to archive and revisit profiles also helps retain contact with candidates and connect when opportunities open up even years later.
Recruiting is changing rapidly, and it is likely that technological, social, and business trends will continue to impact the way talent is found, hired, and retained.