The Latest Recruitment Technology Trends and How to Really Use Them
Today’s economy is driven by technological advances and each industry has been digitised in order to efficiently streamline processes and the recruitment industry is no different. With the labour market largely candidate-driven, employers must work harder to scrape up talent. As such, with the developments of AI, big data analytics, machine learning and social media (think: LinkedIn), the ecosystem of applications has encouraged recruiters to evolve their processes. The challenge, however, would be to keep up with emerging technologies and adopt practices best suited for the industry.
In saying so, what are the latest recruitment technologies available and how should recruitment agencies use them?
Recruiting talent within organisations used to be a people-oriented profession. However, that’s slowly changing into a numbers-based task. Using numbers for the purposes of attracting talent and sifting through it isn’t new, but the way in which talent acquisition managers utilise data through applications and software is evolving. That means talent recruiters must set strategies to analyse the data to make sense of it.
How is big data analytics used in recruitment? Big data is more than keyword mining. In fact, big data can help draw a 360-degree view of the candidate. Keyword tracking on a resume, data screening on a pre-employment test such as a personality or IQ test and even data from social media profiles all go into collecting information on an individual (GDPR permitting). All such data points help recruiters understand a potential employee much better than a simple one-dimensional resume.
The benefits of big data analytics are obvious. First and foremost, it helps remove bias by minimising the use of subjective factors in assessing an application. Secondly, it helps recruiters sift through hundreds of applications and can analyse talent requirements per pool of applications. Lastly, in conjunction with predictive analytics, big data can help recruiters predict success rates such as tenure length and culture fit.
As with big data, AI isn’t new, but has the potential to be the horsepower behind a company’s recruitment process and can reduce the time spent on redundant tasks such as initial resume screenings. In fact, 52% of talent recruiters say that the most challenging part of the hiring process is choosing simply one applicant from a large group of applications. As such, recruiters can utilise AI alongside big data to automate the initial parts of the process and focus on the later stages of the process that help managers pick the best candidate.
Alongside automating time-consuming tasks such as the initial screening process, AI improves the standardisation between the job’s requirements and the candidate’s qualifications. Scoring high points in job matching lead to happier employees with a longer tenure. When recruiters utilise big data in conjunction with artificial intelligence, the results are substantially helpful. Big data powers the decisions AI make to mimic human intelligence
Prioritising the candidate experience
The recruitment process isn’t just evolving on a manager side but on the candidate side, as well. Therefore, HR agencies are looking to enhance the applicant experience. Creating a well thought, thorough candidate experience turn applicants into employees. Why? Because candidates who are satisfied with the hiring process are more likely to enjoy the workplace as opposed to its inverse. Moreover, even if a candidate wasn’t selected, they are 38% more likely to recommend that organisation. Why is this important? Because it creates an incentive and convinces candidates of the potential experience of being part of your workplace. In saying that, how can you prioritise the candidate hiring experience? It’s important to create an experience that mirrors the company’s culture, values and goals. Added to that, creating a strategy that can be measured and tested is imperative. Lastly, understand the candidate experience will (and should) look different depending on the candidate role. Therefore, segmenting the hiring process based on department, skill and experience level and even the type of employment (i.e. full time, part time, casual, intern, etc) can allow for changes in the hiring process best suited for the type of candidate the organisation is seeking.
As with other industries and departments, technology is becoming integrated into best-practice methods and recruitment isn’t any different. Adopting technological elements can streamline the process and hire candidates with a better success rate. If you’re looking to invest in the future of your organisation, get in touch with a recruitment specialist that can help you find the talent you need. Whether it be contract recruitment, digital recruitment or general permanent recruitment services, let AI Group Talent Solutions help you.