2018, like most years in current remembrance, is shaping up to be a game changer of sorts in the recruiting area. New trends are being introduced and established trends are experiencing seismic shifts. In a bid to hire the best, companies are vying to get the attention of all the candidates who are highly skilled.
Emerging technologies like AI and Virtual Reality are proving instrumental in solving the challenges faced by the hiring industry. Revolutionising technology in such a way that the human interaction is preserved and amplified for everyone involved in the process. Technology is just the medium and most innovators are looking to find ways so that it doesn’t make most human jobs obsolete.
Top 7 hiring trends to watch this year:
- Talent Relationship Management will be a key factor in hiring.
Most companies are now convinced that having a software tool like Candidate Relationship Management (CRM) to sustain relationships with candidates is a sure shot way to effective employee management and retention. But an experienced recruiter is well aware that talent trumps all on any given day. What they have instead brought into the picture is Talent Relationship Management (TRM).
TRM is an umbrella term that includes contingent workers (external talent networks) and current employees (internal talent pools) in a holistic approach to identifying, engaging and building talent networks.
Companies are increasingly looking inwards and giving testimonies to the fact that the best hires they have are candidates who have risen through their own ranks and trained by internal elements. There has been a large shift in most company’s outlook as they invest in people from their internal crop and give them resources to become the best they can be. Also, many studies indicate that recruiters who employ TRM and associated technology enjoy a higher candidate conversion rate than those who didn’t.
- Strategizing a social media path should take precedence
The companies who are able to engage talent through social media (LinkedIn, Twitter, Facebook) are more likely to be able to hire them. Even companies who have traditionally steered clear of social media recruitment practices will find themselves absorbed into this vortex and to engage. Companies are increasingly investing in strategies centred around social media hiring, marketing and other forms of social listening and surveillance tools. The scope for pretension in terms of utopian working conditions, salaries etc are instantly and systematically dismantled over social media. Companies agree that rejuvenating their brand value is their topmost concern. Companies are increasingly aware and hence beware of the fact that almost every good potential employee and client is reading reviews about them through glassdoor and other sites. Entire discourses on companies are being formed on the basis of it.
In a bid to attract the eyeballs of the younger demographic, companies are abandoning the bastion of Facebook, LinkedIn in favour of Instagram, Pinterest and Quora.
- Adaptability trumping experience
As the average lifespan has improved drastically in most of the world, emphasis on long term careers with one person doing that job for the better part of their life has reduced too. Recruitment strategies are centred around hiring people who are flexible enough to adapt to new technologies and economic shifts. As a result more people are experimenting with their role and position rather than having similar to least the same company for a longer period. More and more top executives are investing in a workforce which is highly malleable and expert in the current technology with a high rate of adoption into the current platform.
- Mobile, finally
The sheer number of mobiles on Earth has made it mandatory for most people to use it as an effective medium to enable people to be hired on a more microcosmic basis. Most people spend a large amount of their day staring at this semi-metallic box, do it makes sense to use it to hire people as well. It is also mentionable that still a majority of companies are lagging behind in terms of marketing effectively. Most people rely on mobile phones for every stage of hiring – searching for one, making an application, applying and seeking out the result. In spite of all this, many large companies don’t have fully optimised mobile websites. The figure stands at around 30% in most countries. So this year, more companies are going to get on the bandwagon of mobile-based job application process, streamlining it for more and more people who are applying for jobs through their Smartphone. Almost half of the current crop of job-seekers firmly believe that in the span of a few years most people are going to use phones for applying for a job.
- Artificial Intelligence will impact the capacity and skills required
HR teams need to get ahead of the curve here and understand not only the impacts of AI on their workforces but also the benefit of incorporating new and exciting tools into their workflows, especially for recruitment. With a plethora of start-ups out there in this space, it’s easy for talent acquisition teams to experiment and find what works for them. Across the board, AI and bots will have an impact on how people work, and the skills required. Gartner predicts that by 2030, 50% of high-performing employees will regularly and seamlessly redistribute workloads across personalised portfolios of talent bots. This future seems especially likely given Adobe’s prediction that 66% of UK office workers say they already want an AI assistant to help get work done. Further surveys by Deloitte indicate that 50% of companies plan to retrain staff for this eventuality. But then why is it that at 65% of those companies, HR is not involved in this process?
- More people to be part of the gig economy and contractual work
Most job-seekers aspire to be classified as ‘Self-employed’. Almost 65% of people would work on the contractual basis if they had the choice. Flexibility is the key aspect that is admired about being employed on your own. The freedom to work on their own whims and fancy is the icing on the cake that most people are really after. It is not a new trend at all but it is worth explaining about as the current expansion is on an unprecedented scale. Even the managers are swearing by the competitive advantage that their company enjoys when they employ workers in a freelance sort of gig. Cost-cutting, better work are some of the immediate and obvious pros of using the above method.
- Augmented and virtual reality
Augmented and Virtual Reality is the real emerging technologies that are positively disrupting the whole hiring ecosystem in 2018 and beyond. Already Amazon is using it to design better and sleeker models of Alexa and Google, Facebook and Apple are only going to fasten up the war for the bigger piece of the pie of this lucrative technology. Candidate attraction and experience will see early innovation with examples including VR workplace experiences, VR assessments, and interactive job advertisements – using AR apps like Blippar, and Wallame.