Disruptive Trends That Will Transform Hiring
In today’s work environment, organizations have started considering their human capital as a source of competitive advantage. They have become increasingly particular in ensuring that they can attract the best talent to come and work for them. Thus, recruitment has become a global business today with huge amounts of investment going into it to ensure that the demand for talent is met in a highly competitive market. Technology that has invaded every sphere of business has also impacted the hiring segment and will continue to have a powerful effect on hiring.
In an exclusive chat with CXOtoday, Neeraj Sanan, Chief Marketing Officer, Spire Technologies, explains the various disrupting trends that will transform hiring. “In the next one year and more, recruiters would be looking to connect to a large pool of candidates using the best technology and social marketing efforts available. In a bid to meet their targets, the recruiters need to be aware of the following recruitment trends which are likely to be in the forefront in 2017,” he mentioned.
Sanan penned down some points below on how recruitment will undergo major technological changes in the coming year.
- Organizations will look to build their own real-time integrated talent ecosystem
In today’s times, most organizations have their internal and external talent ecosystems, but, struggle to achieve an integration between the two. This trend is likely to change as firms will have an increased focus on developing their real-time integrated talent ecosystem which will provide them scalability.
- Contextual Data Analytics will form an important part of recruitment going forward: HR Data is inherently unstructured which makes it difficult for traditional automation systems to comprehend. Hence, the selection process is laden with guesswork and inherent bias of the recruiters. Thus, to generate insights for recruiters to make real-time informed decisions without any prejudice, traditional analytics is likely to be enhanced using contextual intelligence.
- Artificial Intelligence is set to emerge as a game-changer for recruitment: Artificial Intelligence has profound applications in the field of talent acquisition and slowly, but surely, the recruiters are coming to realize this. In this talent crunch, AI will help get the perfect candidates based on their skills as compared to mere keyword search performed by traditional Application tracking systems. It will also help measure their soft skills precisely. Consequently, recruiters will be required to spend much lesser time and effort in sourcing and acquisition.
- The conventional ATS will make way for intelligent software providing real-time analytics: As per the LinkedIn Global Recruiting Trends Report for 2017, leaders said that if money was not a constraint, then better sourcing tools and advanced technology would be the top 3 areas where they would like to invest in. This clearly suggests a changing trend where the top management has come to realize it is high time that the antiquated ATS be revamped with new-generation technologies to increase its effectiveness.
- There will be emphasis on improving the candidate experience during the recruitment process
Organizations have started considering their recruitment process to be a key enabler in employer branding. Hence, they are laying much importance on the fact that the candidate experience during the process is enhanced. Recruiters will be on the lookout for new-generation technologies such as Artificial Intelligence which can help them make their application process as candidate-friendly as possible at every stage.
- Millennials in focus, organizations will look to bring changes in their recruiting activity
As the millennials are expected to make up to 50% of the workforce by 2020. Companies will need to bring subtle changes to attract and engage them. Organisations must take their work preferences and career path into account and provide them with more flexibility. Also, they will need to leverage the power of social media for their recruitment process as the millennials spend a lot of their time online
- Recruitment will emerge as a quantifiable metric which will help in justifying its ROI
With technology making its presence felt in the recruitment sector, it is deemed to become quantifiable. Talent Analytics will make it possible to measure and track the changes in aspects of recruitment such as time-to-hire, interview-to-selection ratio, sourcing time etc. Thus, CHROs will be better placed to evaluate the ROI on the investments.
Thus, recruitment will undergo some major technological changes in the coming year as the demand for intelligent automation to source and acquire candidates is on the rise. Also, organizations are keen to treat recruitment as a process for improving their employer branding to differentiate themselves from their competitors. As human capital is poised to become the only source of competitive advantage going forward, recruitment is likely to become a very important agenda on the executive table of every organisation.
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