New age job seekers cannot be impressed by old age hiring techniques! Like other industries, the recruitment industry has also witnessed an overhaul in most processes in the last decade.
The contemporary technologies and advanced hiring practices have certainly transformed the industry. And as we enter the new decade, we see no signs of slowing!
The digital transformation has not only made it easier to apply for jobs but has also made it easier for businesses to hire qualified candidates anywhere in the world. The expectations of companies, HR recruiters and candidates are changing over time, and one needs to adapt to them to be in the business. For this, the recruiter needs to be well informed about the latest hiring trends.
LET’S CHECK THE MAJOR TRENDS IN HIRING
As we know, modern technology is rapidly changing which affects various aspects of living in today’s world including business. Therefore, recruiting companies need to invest and adapt to the latest recruiting software and method.
There are a few prominent trends that need to be incorporated in the hiring strategy being adopted by companies.
- Targeted recruiting ads
In 2020, 53% of the population of India had internet access on their mobile phones. This is expected to grow to 96% in the next two decades. Thanks to the initiatives taken by the government, the internet has become affordable- from Rs 5,000 for 9.6 kbps in 1995 to Rs 7 for 1GB in 2020! When people use smartphones for browsing the internet that involves sharing our location to our interests, this data can be used ethically for marketing purposes by targeting the people as long as parties involved are compliant. These targeted ads visible in other applications being used based on browsing history benefit both the employers as well as job seekers.
Hence, using the right job description, keywords and details in recruiting ads to increase the chances of finding the right and talented candidate who is interested in employment opportunities offered by the company.
- Texting and chatbots
The use of chatbots increase process efficiency and avoid errors by managing the processes automatically and providing instant replies to the question being asked by the interested candidates. Hence, allowing HR professionals to focus more on humanized processes like helping new hires to fit into company culture and their new roles.
Here are some significant benefits:
With changes in the latest trends, mobile texting is being used as a communicating tool and is being incorporated as a recruiting strategy by HR professionals as it allows recruiters to perform multiple communications at the same time. Moreover, the recruits can use advanced chatbots, text and AI technology for speeding up the whole hiring process and it offers a robust, definitive and structural employee onboarding framework.
- Improving candidate experience
- Providing immediate solutions to queries raised by the candidate by responding quickly
- Assisting in expediting the scheduling of interviews
- Helping the candidate in screening and evaluating their potential.
Economically, chatbots seem to be a money-saver for HR teams. Examples include the Watson chatbot, which has provided the company with engaging job applicants daily and saved $107 million alone in 2017.
- Innovative resume parsing solutions
This match-making software gives employers a perfect fit for their roles! It helps in finding the suitable candidate for the job description by automatically separating information on various parameters and fields like skills, achievements, work experience etc. It further provides hidden information from resumes and enriches information about applicants.
Psychological barriers can sometimes hinder the objective of recruiters, hence resume parser omit and help in eliminating these biases like date of birth, candidate photo, city etc.
- Gamification
Gamification has proven that learning can actually be fun. It has added a new dimension to recruitment by helping companies in determining whether a candidate is a right fit or not by involving gaming elements in the task. These tasks are required to be completed by the candidate as a part of the recruitment process. It helps recruiters in understanding how a candidate will react to a particular situation or circumstance. Talent Titan help candidates to stay updated on trending topics, and prepare for the interviews and written examinations. With gamification candidates are offered a familiar and fun environment, to demonstrate their capabilities.
This technique makes the recruitment process engaging and interactive for the job applicants. And in return, it allows recruiters to evaluate the candidate before inviting them for a formal interview.
- Predictive analysis
It allows recruiters to know the candidate through prescreening assessment tests, one-way interview and behavioral test. This allows them to cut through the clutter quickly, recognize the high potential and recognize the best fit candidate for the job.
It also improves candidate experience as the evaluation of candidates is more transparent as a candidate is informed where they stand making it a smoother and more enjoyable experience.
The platforms like Talent Titan also give the option to the recruiters to prepare their own code of assessment.
- Application of Artificial Intelligence in recruitment
Artificial Intelligence is reforming the process of recruitment as it makes the process of hiring efficient. It includes pre-recorded screening questions, as well as live or one-on-one panel interviews that are used for interviewing platforms which leads to saving of cost and time of hire is reduced. It also determines the personality traits of candidates which can be used for determining confidence, skills and focus on the work. As per a survey, around 55% of the recruiters believed that AI would become a regular part of HR by 2025 while 96% believed that it enhances the process of acquisition and retention of talent.
- Virtual Reality for recruiting
Virtual Reality is popularly known to be used in the gaming industry. However, it is now also used to train employees about everything from safety and procedures to soft skills. It helps in making the employee ready to face challenges and also provides a virtual tour to job seekers of the company faculty using virtual reality headsets.
How VR helps recruiters in hiring candidates-
- Allows candidates to see themselves in the role
- Attracts top talent
- Helps in candidate engagement
- Helps in training and onboarding.
- Expensive hiring criteria
Nowadays companies are becoming smart enough to not only hire a candidate based on industry standards but are also looking for candidates who are always willing to learn and grow in the company. Hence, companies are looking for soft skills that are important and non-negotiable.
Soft skills that are being looked at by employers in the candidate:
- Communication
- Adaptability
- Critical observation
- Problem-solving
- Teamwork
- Critical thinking skills
- Candidate experience
It starts developing from the time the candidate shows interest in the job role so that companies focus more on providing the seamless, engaging, transparent experience to the candidate. This means that the recruiter needs to present feedback even if the candidate is not selected for the job. This is a new trend because there can be a negative impression if the candidate spreads the wrong words online.
MAJOR TOOLS AND TECHNOLOGIES USED IN NEW AGE HIRING
Recruitment tools help in generating interest, screening resumes, organizing assessments, conducting interviews and hiring an employee. They optimize the productivity of work with minimum effort during the hiring procedure.
Various recruitment tools and technologies used include:
- Job aggregators- act as a job board that hires people based on the company’s policy through advertising jobs.
- Testing and assessment- this tool is used in assessing the ability of the candidate during the hiring process by testing various attributes like technical skills, cognitive abilities, personality, behavioral characteristics and more.
- AI and automation- these tools are based on AI and contain an automated process of hiring the candidate and are used to screen candidates, analyze data, virtual chat enabling and many more.
- Reasons why AI and automation is popular among recruiters
- Help in automating manual tasks
- Cost-effective hiring
- Helps in diverse hiring
- Reduction in timing involved in hiring candidates
- Ideal in hiring passive candidates
- Applicant tracking system- it is a software application that enables the electronic tracking of recruitment process and handling of database of entire recruitment process
- Recruitment CRM- it helps the HR department in maintaining a relationship with the candidate in the hiring process therefore helpful in social recruiting.
- Video interviewing- this tool allows video interviewing along with including various factors like facial expressions, choice of words, voice tonality and others
BENEFITS OF INCORPORATING VIDEO INTERVIEWS-
- Reduction in cost and avoidance in scheduling problems
- The candidate’s screening process is improved and standardized.
- Ensuring a positive experience for the candidates
- Being more efficient reduces the time taken to hire a candidate.
No wonder, the use of video interviewing tools is getting more popular than the telephonic interview. It is examined that a recruiter can conduct ten video interviews in the same time duration as one telephonic interview. Hence, it’s more efficient. It is also an effective tool from the candidate’s point of view as it is a true time-saver for all.
IMPORTANCE OF RECRUITMENT TOOLS
Following are the major benefits provided by recruitment tools and technologies:
- Accuracy – it helps in filtering accurate parameters in the hiring process which eradicate human error and boost accuracy with better employee productivity.
- Smaller turnaround time – as a human can work less in comparison to the software, hence they can go through a ton of resumes in a limited period saving time and shortening the process.
- Cost-effective – recruitment tools save resources as that cut down human intervention and long drawn processes.
- Efficient- being automatic these tools are highly efficient in responding at the time, effective communication etc.
- Consistency- these tools are highly consistent by removing variables and maintaining a similar process of work.
TALENT TITAN TOOLS IN RECRUITMENT /HIRING-
Talent Titan is an EdTech/HRTech venture offering a variety of products in the education and HR space. It is India’s first Artificial Intelligence (AI) driven Gamified platform for Hiring, Learning, Assessment and Engagement.
FOLLOWING ARE THE RECRUITMENT SOLUTIONS OFFERED BY TALENT TITAN :
Talent Titan is an EdTech/HRTech venture offering a variety of products in the education and HR space. It is India’s first Artificial Intelligence (AI) driven Gamified platform for Hiring, Learning, Assessment and Engagement.
- Talent Titan has designed state-of-art AI powered gamified assessment platform, having 400000+ questions across 100+ skills, that evaluate the core and acquired skills of the candidate for the required job.
- It offers cutting-edge coding test platform Codelyzer that can be used to evaluate IT candidates on coding, design, architecture and quality parameters as it supports multiple languages and help in accessing the candidate capabilities.
- Resume parser of Talent Titan can scan through hundreds of resumes in no time with very high accuracy.
- One-Way Interview tools offered by One-Way Interview tools offered b assess candidate’s knowledge, body language, technological, and time management skills all at once.
- Talent Titan offers AI and ML driven reports and analytics that expedite hiring process with actionable and accurate insights.
- It also offers ATS integration support to monitor entire hiring workflow at one place.
- Talent Titan through its sourcing channels, social media, and website brands your hiring requirements thereby providing the organization with higher viewership and receiving a large pool of applications from across the world.
VARIOUS ADVANTAGES OF TOOLS OFFERED BY TALENT TITAN ARE AS FOLLOWS:
- Reduce cost and time per hire by 50%
- Hire the best and most diversified talents for any job functions
- Operate at scale: Reach out to thousands of candidates in a quick time
- Real-time dashboards for comparative candidate SWOT analysis
- Data and analytics are driven hiring ensuring a better cultural fit
- Superior, engaging and interactive hiring experience for candidates
KEY TAKEAWAY!
With increasing competition in today’s world, the company needs to hire the best talent by redefining its recruitment strategies which ultimately will enhance the business outcomes of the company. Through tools like resume parser, one-way interview, talent assessment, coding tests, virtual interview, AI driven analytics, employer branding support system and ATS integration, Talent Titan offers end-to-end hiring solutions ensuring hassle free recruitment of best talent with least turnaround time and significantly higher ROI.
