To get ahead of the pack this year, it is essential to stay on top of emerging trends in the recruiting industry. Both recruiters and candidates will benefit from understanding how the landscape is shifting.
The rapidly changing economic and political environment has created some uncertainty across several industries. Yet, while there are some forces we can’t control, we’ve outlined a few things we can expect for the hiring industry below.
The Rise of Interactive Interviews
One-on-one sessions, panels, and other traditional interview formats will still be prevalent. However, more interactive interview styles are rising in popularity that may provide better insight into a candidate.
An example of this is video interviewing, an interview format that first got popular in the US, and is now all over the world. With this format, companies provide a series of questions that the candidate must answer within a certain timeframe, and then the video is submitted to the company.
Video interviewing allows hiring managers to vet more candidates while getting a “feel” for their personality, but it also reduces hiring costs and enables more feedback earlier in the hiring process.
Another example, particularly in the IT industry, is that many companies are now requiring a whiteboard session during the in-person interview. A whiteboard session requires the candidate to illustrate how he or she would develop certain applications, allowing them to demonstrate problem-solving skills and an ability to think on their feet. Whiteboarding also makes the interview process more interactive and engaging, which gives the client a chance to learn more about the candidate, and whether or not the candidate is a good cultural and personality fit for the company.
Mastery of Big Data
Smart use of talent data from recruitment companies own database or acquiring the data through social professional networks will expand recruiting metrics beyond the hire itself, from time-to-hire and cost-per-hire to longer-term metrics that measure tenure, performance, fit and retention. Data tools will help match a candidate to the position that best fits his or her skills and background; assess a candidate’s personality, values, and interests; rank the priority of jobs for workforce planners; and arguably, root out hiring bias.
One big challenge to all of this would be the validation criteria of the data presented. Verifying that the data presented is correct and useful for applications would be the key to success.
Recruitment Tools get smarter and intelligent for highly personalized recruitment
HR and talent acquisition practitioners will be dealing with artificial intelligence (AI), machine learning and bots in 2017 and the next five years. Currently, it is still in its early stages and learning from its users, so it focusses now more on process automation and efficiency.
AI can now help with the tedious task of communicating with potential candidates where feedback is consistently given. Communication and connectivity have also improved as chatbots and other voice recognition apps allow recruiters to carry out relatively complex tasks simply by speaking.
AI can analyze a job description, compare it to a resume, and then reach out to candidates via e-mail to request they apply. Machine learning and matching-algorithm intelligence are turning the process upside down, finding and contacting the candidate based on their bio and job preferences.
This technology will free recruiters to spend more qualitative time with candidates and hiring managers.
On-Demand/Gig Workforce Will Grow
By 2020, some researchers estimate that near 40% of the American workforce will be made up of contingent workers, which includes temporary employees, independent workers and project based workers.
2 key drivers responsible for the rise of the on-demand and gig workforce are workers’ demand for diversity and flexibility in their roles and a shift in organizational strategy from hiring for a requirement to hiring to complete a task.
However, there is a caveat that the gig workforce boom currently works for only simple jobs and not for jobs that require institutional knowledge (for example jobs in finance or technology).
Skills over School
This new trend focuses more on the specific skillsets a candidate has rather than what higher education institution they came from. There is a shift in hiring to candidates who have the determination to learn the skills they need for the job or are already proficient in the required skills. Industry leaders like Deloitte, Google, and LinkedIn already hire based on skill over alma mater.
Many employers have long complained that universities don’t provide graduates with the skills competitive businesses need today. This skill gap is now getting covered by online education courses that allow learning new skills which helps in earning full-time or on-demand work.