2018 is the year of reckoning for recruiters; low unemployment coupled with increased awareness about ‘employer brand’ amongst candidates has made hiring a tough one. Talent shortage will become one of the biggest hurdles faced by recruiters this year, and finding top-notch talent will remain the key recruitment goal.
In the current scenario, candidates have far more power during the job search and are hopping jobs more than ever before. Hence, candidate experience during all the hiring stages will become quite a significant factor that can make or break your recruiting goals. 86% of recruiters and 62% of employers feel the labor market is candidate-driven.
The strategy in this market, therefore, should be to tweak the recruitment process in such a way that it conforms to the latest hiring trends. The top four hiring trends that will impact the hiring process this year include: diversity, new interviewing tools, data, and Artificial Intelligence (AI). In this blog, we have tried to delve into key statistical insights in terms of adopting these trends, which are likely to expedite and transform your recruitment process.
Practicing the art of diversity while recruiting candidates – both in terms of gender and ethnicity, will be crucial for organizations this year. Organizations would require to offer the same opportunities to all, whether ding candidates with disabilities and veterans.
Assuming cutting-edge interviewing tools and processes – As opposed to conservative interviewing for accessing candidates, newer interviewing tools and platforms enable recruiters to assess a candidate’s overall skillset in much lesser time. Some of the interesting breakthroughs in interviewing would be assessment of soft skills, job auditions, casual meetings, virtual reality assessments, and video interviews.
Analytics for making strategic hiring decisions – The abundance of data available in today’s digital world makes it feasible and critical to predict hiring outcomes and not just track them.
Use of Artificial Intelligence (AI) and automation – Artificial Intelligence is heavily influencing interviewing and assessment of candidates, not only resulting in better recruitment automation but also in error-proofing the hiring process. Yet, some of the skills that AI may least likely to replace are more tangible in terms of building relationships with candidates, seeking candidate potential beyond credentials, and judging ‘culture fit’.
Owing to a paradigm shift in the recruitment ecosystem, XDuce has introduced top-notch flexible staffing services to accommodate today’s economic volatility and market dynamics. The current market dynamics has paved way for new strategy in attracting talent. Our core focus is to not only understand talent supply and demand, but working towards increasing retention, evaluating skill gaps, workforce planning, and using predictive analytics to analyze candidate success. At XDuce, we use comparison methodologies and metrics for comparing and staying ahead of our competitors.