The transactional aspects of hiring – candidate search, scheduling, screening among others - are increasingly getting automated. In addition, the rising expectations and options available to talent are forcing hiring leaders to make recruitment more unconventional and experiential. Employers are constantly experimenting with newer methods to access and acquire the right talent.
Here are five innovative recruitment practices worldwide which are altering hiring processes in a big way.
Tech driven interviews: A LinkedIn survey says 56% of talent acquisition leaders believe technology is a top factor impacting interview and hiring processes. For evaluating attributes like teamwork and curiosity – which cannot be gauged effectively during traditional interviews – online soft skills assessment tools help providing a comprehensive view of a candidate’s fitment. Citi, the survey informs, has implemented such assessments for its campus recruiting program. With Virtual reality (VR), employers like Lloyds Banking Group are engaging interviewees in simulated 3-D environments to test their skills.
Data & AI driven talent acquisition: Data driven hiring is increasingly gaining popularity among talent professionals with 50% of them agreeing it enhances hiring efficiency, according to the same LinkedIn survey cited earlier. Data not just helps tracking candidates or assessing talent decisions, but also enables predicting hiring outcomes. Companies like Novartis, Nielsen and Jetblue are leveraging data driven Artificial intelligence (AI) to devise smart talent intelligence strategies. Candidate queries are being responded through Chatbots, a practice that has helped Intuit and Vodafone streamline their recruiting process by saving enormous amount of time and effort.
Talent Relationship Management driven candidate conversion: The notion of candidate relationship management as a means to maintain sustained connect with potential hires, is giving way to talent relationship management (TRM) - a concept that focuses more on talent than just the candidates. TRM strives to build a network of external and internal workers to identify and engage with talent. It is particularly effective in identifying internal talent. Industry research indicates about 40% of employers source their highest-quality talent internally. Hiring managers who use TRM tools have seen a better candidate conversion rate where the offer acceptance stand at 93% as against the market average of 89%.
Hiring through Instagram, Pinterest and Snapchat: A Glassdoor research claims every average job seeker reads at least six reviews before forming an opinion about an employer. Recruiters are now going way beyond just Facebook, LinkedIn or Twitter to find talent. With the newer generation of workforce using Instagram, Pinterest and Snapchat, talent leaders are trying to create candidate experience in these social channels. Clearly, social media is fast becoming a medium not just to find the right talent but to promote employer brand. Any deviation between an employer’s value proposition and actual culture at a workplace gets reported on social media.
Flexible engagement driven by gig economy: Gig economy where employment is for a limited contract period is on the rise. A recent McKinsey research estimated up to 20-30% of the workforce in developed markets is engaged in such temporary contracts. In India too, the trend is picking up with knowledge workers, in their quest for greater flexibility, are choosing independent gigs. This model of employment has enabled employers to hire back highly skilled “boomerang” employees.
Clearly the recruitment scene in 2018 and beyond will be driven by the changing dynamics of the digital world as well the transforming perception of employment of the younger generation. The conventional approach of ‘advertise and apply’ will have to give way to ‘find and engage’ mode. McDonald’s use of Snapchat and Goldman Sachs use of Spotify are the classic cases where employers target specific channels used by the talent to find and engage with potential hires.