Business, Technology

Decoding Recruitment Industry Outlook and Where Technology Fits into the Picture

job interview

This guest column is by Arvind Singh Founder & Director of FirstJob

With the advent of technology and India becoming a job creation hub for multiple industries facilitated by the momentum of campaigns like ‘Make in India’, human resource leaders are now confronting the challenges more than ever. Then, infiltration of smart phones, a dynamic workforce equipped with multifaceted skills and fast changing environment creates the need of recruitment beyond the traditional methods. Moreover with the increase in demand for talent due to changing business and technology landscape, it has become more imperative than ever for firms to identify and have access to the right talent at the right time.

Present day, technology has sneaked into a major part of our personal and work lives. However, one industry that predominantly spurned the persistent advances of technology seems to be ‘recruitment’. In order to bridge the gap and catch up with the pace, technology plays an increasingly significant role in the way companies approach the talent search and the hiring process. These technical practices can help you in recruiting beyond the traditional recruitment process in today’s day and age.

For instance, if you ask any organisation about its top challenges for 2016, the odd good thing is that recruiting and retaining talent are somewhere there in the priority list. Also, smart companies know that their success would eventually burn down to their best workers and so, they will prioritize seeking out the best for organizations.

Traditional HR Practise and its Failure

Earlier, hiring for a job may be uncomplicated affair because a single interview solved the purpose in spite of that it was taxing and cost incurring. Besides, short-listing based on a cursory look at resumes was the major questionable factor for the aspirant. Apart from these, the long wait for an interview was an extra botheration. After which, researches have revealed that the traditional interview is an undependable indicator of whether a person will “fit the bill” or not. A recent study had revealed that 26 percent of respondents are still using email archives to tackle new applicant databases while 66% respondents said that they do not have 100 percent mobile friendly corporate hiring site.

The study further revealed that though companies are willing to explore social media as a sourcing channel ,they are still largely dependent upon employee referrals as a reliable source for quality hires. 13% respondents stated that only 5% sourcing happens with social channels since their internal systems either do not support social integration or they are not sure of the same.

It’s All About Digital Talent Hunt

Earlier, online job platforms such as LinkedIn began to gain traction, it was seen as supplement to the conventional paper resume and face-2- face interviews. Whereas today, the recruitment process is 100-percent digital with the penetration of the smart phones in the market. Due to which, recruitment process has experienced a positive bend with the help of latest technology. For instance, the above research we mentioned above has also raised awareness and knowledge on current recruitment tools was also identified as a challenge with corporations with 43% respondents stating their resources are not at par with the required knowledge around recruitment technology while 79% respondents stated spending less than 10 Hours in training their recruitment team on recruitment software.

Alongside, latest recruitment tools have various dimensions online and offline which brings a larger talent pool available with equipped data. This data help the employer to assess primary detail of the candidate on –the- go, which helps them in rapid decision making. Data analytics may also help recruiters in discovering a better passive candidate. Alongside, big data impact over recruiting is using social data to identify people who are more likely to be open to new opportunities.
Furthermore, cloud-based hiring tools allow recruiters and hiring managers to effortlessly and affordably find, evaluate and organize top job contenders, while inventive evaluation and filtering techniques will help provide a 360-degree holistic view of top applicants.

Role of Digital Recruitment Solutions

Currently, more and more employers are leveraging on digital recruitment solutions which helps in streamlining the hiring process by webcam and video interviews. Moreover, digital recruitment solutions are cost effective and time and energy saving. For instance, a jobseeker in Hapur, may not be able to spend money in commuting for an initial interview to a faraway place for example Gurgaon, but he can certainly take 10 minutes to appear for a remote video interview. Also, recruiters can increase their productivity at least four times as there is seldom requirement to spend 12 – 15 minutes in a physical interview. In some cases 30 seconds may be all that is required reason being the panellist can review and provide feedback at their own leisure, making the process faster. Furtherance, the workflow of the platform provides Digital imprints at each stage that will trigger MIS, monitor recruiter performance and behaviour and lead to efficiencies and improvements.

While digital tools will never completely replace the human instinct necessary for identifying the right candidates but an ability to stay ahead with technological trends could be an employer’s greatest achievement. Thus, technology eventually makes the hiring process extra efficient, economical and effective in finding the right candidates for your business, even without being present yourself. In addition, it can help you to foresee future employment needs and prevent bottlenecks from occurring when you have prolonged production requirements.

Image Credit – Fox Business

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