New Age Recruiting - Current trends in Hiring
Updated: May 22, 2020
With ever-changing environments, adaptability has been one of the key constants for growth. Recruiting is no different where we can see that digitization has been a big factor in the transformation of industries across the globe. John Kinderman, Director at Brook Street, said: “The recruitment industry has changed countless times in the past - newspaper advertising was replaced by job boards. Rolodexes were replaced by job databases, and much more. The difference now is that change is happening at an unprecedented speed and scale, and the pace is set to accelerate.”
Globalization due to technological advancements led to easier search for qualified candidates anywhere in the world enabling much filtered and optimized search on online job boards and professional networking websites thereby creating a much larger, diversified pool of candidates with specific sets of skills as per the job requirement.
Big data and analytics have been an indispensable asset for advancements in this domain, like many others. However, with the availability of such a large quantity of data, AI and analytics tools have been adopted by firms to analyze and evaluate this data in a more useful way for optimization and reduction in redundancy. For example, a huge pile of resumes can easily be filtered to a few candidates who are most suitable for a specific job profile via AI and analytics. Automation in this sector has also led to a decrease in response times and facilitating the connection between the recruiter and the candidates who have applied for a job. This has helped in enhancing a company’s reputation as they can now provide a better experience to the candidates due to reduction in time for submission, review, and connection with them.
Corona pandemic was a big blow to the economy leading to uncertainty and thereby forcing many companies to cut down on jobs, halting on new hires, and in some cases even withdrawing offers. But many companies have been quick to adapt and have rewired their hiring process instead of ceasing hiring completely. "Since the increase in the number of COVID-19 cases, we have had interviews canceled or postponed. Some of the companies have opted for video interviews only if the role is for a key position and there is an urgency to hire. Most interviews have moved to telephonic or video calls instead of face to face meetings," a spokesperson of a global executive recruitment organization said.
Ashish Chattoraj, CHRO, PayU India, said: “We are inducting and on-boarding new joiners virtually, and they have started working remotely with their managers.” Thus the traditional recruitment has now adapted to another big change where induction and onboarding is being done digitally. Companies are now switching to new age recruitment strategies and thus meeting their staffing objectives. Recruitment is a never-ending process because as a company grows, bigger talent pools are required, an increase in projects would require more manpower, making it an important factor in the growth of an organization. Thus adapting to innovations like Virtual platforms which help the talent acquisition team to stay connected with the candidates throughout the entire interview process by video calls in real-time, the virtual screening process which helps firms to ensure there is no physical exposure between the candidate and interviewer so as to mitigate COVID-19-led disruption. India Country Manager and MD of a large hiring firm said: "By leveraging technology, using the web and video conferencing, telecommunication applications we have been successful in maintaining an agile, modern and cautious approach to recruiting, which is now imperative during these unprecedented times".
At AxiomRC, technology has always been at the forefront of what we have done. We have built intelligent products that not only help in recruiting the best talent but also ensuring that once recruited the candidates work with brilliant engagement and high levels of productivity.