2020 looks like it’s going to be a phenomenal year for the recruitment industry. As a tech assessment company, we’re lucky to be able to regularly swap ideas with HR leaders, visit conferences, and read up on industry experts’ findings. Based on our findings, here’s the scoop:
Selecting the right candidates is important for the success of the company. To ensure there is a synergy that works for the fulfillment of company goals and mission it is essential to identify and build a team of people who have the required skills and experience. This is the reason that most CEOs today place so much importance on improving the hiring and selection process. However, in this competitive environment, without the right technology in place it is almost impossible to get the talent you want, when you want it.
The big four accountancy firms; PricewaterhouseCoopers, Ernst & Young, Deloitte and KPMG receive thousands of applicants every year. It is common to have in excess of 100 applicants for each hire that is made. The high volume of applicants per job presents these companies with numerous hiring challenges including time to hire, filtering the candidate pool and removing biases. The big four are not alone in facing these challenges either as many other employers also boast significant application figures.
The hiring process can seem labor-intensive from the recruiting – and applicant – perspective. There is so much to process from creating the job application to finally filling the role. Candidates are expecting more from us, and the great thing is that we finally have technology that can help us live up to their expectations.
Early in my career, I had the good fortune to work as a financial analyst for a Fortune 50 company. During a meeting where the president of a $2 billion group was presenting his business plan for the next year, he was lambasted by the corporate CEO with the following:
“Strategy drives tactics. Tactics don’t drive strategy. And from what I can tell, you have a terrible business strategy, so it doesn’t matter how great your tactics are.”
We’ve been hearing a lot about the concept of future-proofing your business like it’s something entirely new. In reality, wise companies have been future-proofing all along. Regardless of its roots, future proofing—which we’ll simply define as the ability to remain relevant among your competitors—is critical to the long-term success of any organization. While there’s lots of reading out there surrounding corporate-wide future-proofing strategies, our focus is as always on the HR side of things.
One of the greatest barriers to opting for recruiting automation is fear that recruiters will end up being replaced. Not to mention that automation could cost an arm and a leg.
But nothing could be further from the truth! Recruiting software is one aspect of HR tech that is tried and tested, and continuously improving. Recruiting automation systems are user-friendly, and recruiters can easily be upskilled. Plus, it’s accessed from a SaaS platform. So, you don’t have upfront expenses for technology, software or licensing agreements. You pay a service provider a monthly subscription; that’s it!
Read more at: https://blog.recruitee.com/recruiting-automation/
59% of job seekers use social media platforms to find recruitment opportunities, according to Talent-Works International Statistics. The reasons behind this trend lie in the way the digital market works. Every corporate business runs by a rule in this digital age. In most cases, it has to do with growing your digital presence. This includes having a clean professional social media presence from which people can refer to. This especially helps when you need to recruit highly qualified senior employees who add value to what you have already built.
Many people are concerned that AI is going to take their job, or somehow make the world a scarier place to live in. While there may be some cause for concern, especially in the distant future where we have limited predictive powers, AI is mostly going to change the world for the better.
Just like AI has the ability to transform our healthcare, education and transportation systems, this same type of technology is going to have massive impacts on recruiting.
Increasing demand for talent creates intense pressure on staffing companies to constantly look for better ways to hire. Staffing leaders agree that the most challenging part is identifying the right candidate from a large pool of candidates as quickly as possible. Many staffing companies are currently doing this and other mundane tasks manually.
Thanks to new technologies that prove effective in streamlining some of the complex and repetitive recruiting efforts, automation helps recruiters become more efficient and increase the speed-to-hire.