5 Future Trends In Talent Acquisition That You Must Know About!
Can technology shorten the hiring cycle for recruiters?
Posted on 10-16-2018, Read Time: Min
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There are two tough questions that every recruitment professional should find answers to - What and How? What should be the qualities and skills that best describe the perfect fit for the job and how to reach and engage this talent? These two factors combined make recruitment one of the most challenging human resource related activities.
Despite being a well-connected world, finding the right kind of talent has always been difficult. Most probably since the challenges have walked hand-in-hand with the technological advancements the task is easier said than done. Any bad-hire who is not culturally aligned with your firm can cause a negative ripple effect on the output of the team as a whole.
According to a recent CareerBuilder survey, 27% of the employers say that a bad hire costs them up to $50,000.
Despite being a well-connected world, finding the right kind of talent has always been difficult. Most probably since the challenges have walked hand-in-hand with the technological advancements the task is easier said than done. Any bad-hire who is not culturally aligned with your firm can cause a negative ripple effect on the output of the team as a whole.
According to a recent CareerBuilder survey, 27% of the employers say that a bad hire costs them up to $50,000.
Challenges in Using Social Media for Recruitment
Following are a few reasons why recruiters will find it difficult to leverage social media for talent acquisition.
Everybody is interested in building a good-looking social profile and hence identifying genuine talent can become difficult.
The amount of content shared on social media makes recruiters think and work hard to catch attention of the users. Money spent of recruitment ads doesn’t actually turn up the desired results.
Networking sites like LinkedIn or Twitter don’t allow recruiters to send personal messages to potential candidates who are not directly connected.
Also, the usage of mobile devices to access social media and the internet has increased by leaps and bounds. Many of the recruiters do not have their platforms optimized for mobile devices.
Everybody is interested in building a good-looking social profile and hence identifying genuine talent can become difficult.
The amount of content shared on social media makes recruiters think and work hard to catch attention of the users. Money spent of recruitment ads doesn’t actually turn up the desired results.
Networking sites like LinkedIn or Twitter don’t allow recruiters to send personal messages to potential candidates who are not directly connected.
Also, the usage of mobile devices to access social media and the internet has increased by leaps and bounds. Many of the recruiters do not have their platforms optimized for mobile devices.
The Future Trends: What’s Next in Talent Acquisition?
Mobile devices and social media are leaving an everlasting impression on talent acquisition and any future trend will be built by an augmentation of these two platforms. The focus will be more on streamlining the voluminous data on job seekers and passive candidates to produce more time-friendly and relevant matches.
1. Crowdsourcing
Crowdsourcing combines the strengths and thoughts of millions of like-minded professionals in achieving desired goals at a much lower cost and time. Crowdsourcing is considered to be a major trend in the world of recruitment and promises to change the landscape for the good.
One of the innovative solutions to talent acquisition is to use crowdsourcing as a platform to identify and attract talent. Every person on the internet is connected to hundreds of professionals who are active job seekers and passive candidates that any recruiter would like to reach and attract. So, every candidate presents a probable gold mine that is waiting to be tapped.
2. Big Data Analytics
The time spent by recruitment managers to sift through the profiles of hundreds of candidates keeps them away from doing their actual job of hiring. Big data analytics allow businesses to find patterns from a huge amount of data and make strategic business decisions. Likewise, big data analytics can also use social media and career sites to collect information from a number of candidates and analyze it to identify the right kind of talent that is the perfect match for the job.
So far recruitment managers are focused on hiring the best talent and measuring their performance on parameters like number of hires made, cost and time spent etc. with no qualitative context added to it. With the advent of big data analytics, this scenario will be reversed where the performance of recruiters will be measured by the quality of hire they make.
3. Web Scraping
Harvard Business Review reports that web scraping helps recruiters in estimating the IQ and personality of a candidate with almost 50% accuracy of scientifically validated tests.
The data available on the web is huge and it needs to be cleaned, collated and studied for better decision-making about the candidates. This practice of collecting data comes along with privacy concerns but the feasibility of the process cannot be singled out.
It may be a long way before using web scraping as a method to build algorithms that garner and analyze data about candidates, but it is on the cards for sure.
4. Virtual or Video Interviewing
As a result of globalization, businesses are becoming geographically distant, at the same time more connected with the rest of the world. This allows video or virtual technology to enter into the business for connecting people. Jet, an e-commerce start-up has come up with virtual reality enabled immersive experience that can offer the potential candidates a real-time view of the office and other facilities at Hoboken, New Jersey.
Even though virtual reality has to gain momentum as a widespread technology deployed in talent acquisition, videos are already becoming a part of interviews. Videos enable interviewers to read about the candidates, their nuances and body languages etc. The phone screening process will be soon replaced by video interviewing as businesses can make use of Skype or Google Hangouts at zero cost for a face-to-face interaction. Video interviewing tools are also on the rise, a few of them are Spark Hire, eCrute, Recruitby, etc.
5. Gamification
Retaining candidates through interview processes is very challenging. Hence interviewers have started incorporated gaming mechanisms in context with the interview process. Google attracts new talent by allowing them to compete in Google Code Jam in which the participants develop codes and win monetary prizes. This allows the tech giant to identify bright talent and offer them the right job. It’s not just recruitment, but also training, employee retention etc. that are facilitated by the gamification of human resource related activities.
Companies like Deloitte, Zappos, Aetna have already adopted gamification in hiring, training and retaining their employees. Many companies have started feeling that the interview process and the questionnaire are not enough to measure the performance of a candidate and gamification does the job more effectively and in a better way.
Although the world of recruitment is always changing, you can expect these trends to rule at least for the next couple of years.
1. Crowdsourcing
Crowdsourcing combines the strengths and thoughts of millions of like-minded professionals in achieving desired goals at a much lower cost and time. Crowdsourcing is considered to be a major trend in the world of recruitment and promises to change the landscape for the good.
One of the innovative solutions to talent acquisition is to use crowdsourcing as a platform to identify and attract talent. Every person on the internet is connected to hundreds of professionals who are active job seekers and passive candidates that any recruiter would like to reach and attract. So, every candidate presents a probable gold mine that is waiting to be tapped.
2. Big Data Analytics
The time spent by recruitment managers to sift through the profiles of hundreds of candidates keeps them away from doing their actual job of hiring. Big data analytics allow businesses to find patterns from a huge amount of data and make strategic business decisions. Likewise, big data analytics can also use social media and career sites to collect information from a number of candidates and analyze it to identify the right kind of talent that is the perfect match for the job.
So far recruitment managers are focused on hiring the best talent and measuring their performance on parameters like number of hires made, cost and time spent etc. with no qualitative context added to it. With the advent of big data analytics, this scenario will be reversed where the performance of recruiters will be measured by the quality of hire they make.
3. Web Scraping
Harvard Business Review reports that web scraping helps recruiters in estimating the IQ and personality of a candidate with almost 50% accuracy of scientifically validated tests.
The data available on the web is huge and it needs to be cleaned, collated and studied for better decision-making about the candidates. This practice of collecting data comes along with privacy concerns but the feasibility of the process cannot be singled out.
It may be a long way before using web scraping as a method to build algorithms that garner and analyze data about candidates, but it is on the cards for sure.
4. Virtual or Video Interviewing
As a result of globalization, businesses are becoming geographically distant, at the same time more connected with the rest of the world. This allows video or virtual technology to enter into the business for connecting people. Jet, an e-commerce start-up has come up with virtual reality enabled immersive experience that can offer the potential candidates a real-time view of the office and other facilities at Hoboken, New Jersey.
Even though virtual reality has to gain momentum as a widespread technology deployed in talent acquisition, videos are already becoming a part of interviews. Videos enable interviewers to read about the candidates, their nuances and body languages etc. The phone screening process will be soon replaced by video interviewing as businesses can make use of Skype or Google Hangouts at zero cost for a face-to-face interaction. Video interviewing tools are also on the rise, a few of them are Spark Hire, eCrute, Recruitby, etc.
5. Gamification
Retaining candidates through interview processes is very challenging. Hence interviewers have started incorporated gaming mechanisms in context with the interview process. Google attracts new talent by allowing them to compete in Google Code Jam in which the participants develop codes and win monetary prizes. This allows the tech giant to identify bright talent and offer them the right job. It’s not just recruitment, but also training, employee retention etc. that are facilitated by the gamification of human resource related activities.
Companies like Deloitte, Zappos, Aetna have already adopted gamification in hiring, training and retaining their employees. Many companies have started feeling that the interview process and the questionnaire are not enough to measure the performance of a candidate and gamification does the job more effectively and in a better way.
Although the world of recruitment is always changing, you can expect these trends to rule at least for the next couple of years.
Author Bio
| Mohamed Yoosuf is Sr. Marketing Executive at Compunnel Inc.Yoosuf is an astute brand building specialist who is keenly interested in exploring how digital marketing platforms help brands build their future workforce. In the world of artificial intelligence, he is fascinated by the roles of machines, robots and humans in the workplace and what their association holds for businesses in the future. Connect Mohamed Yoosuf Visit www.compunnel.com |
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