The Future of Recruitment
Every once in a while there is a radical transformation that changes the way a function operates. The same is true for talent acquisition, and experts believe that the time for change is now. Worth an estimated $240 billion (Bersin by Deloitte), the US recruitment market is a mix of large game changers like Indeed and LinkedIn and a number of niche players. Yet, despite the tech revolution changing recruitment methods, there is scope for more to be achieved. Especially so since companies wish to create a competitive advantage by recruiting and retaining top talent. This is not easy, considering the cut-throat competition in today’s business world. Here are some of the envisioned changes that will sweep the talent acquisition sector and shape a new future.
1. Role segmentation: At the requisition end, organizations must develop a view of the talent pool, both internal (within) and external (market). Going ahead, leaders must define “critical talent”, key role that disproportionately contributes to the business strategy. Recruiters must then prioritise filling these critical vacancies, and filling them right. Thus, segmenting roles by criticality will not only help recruiters streamline their limited resources toward what matters most, but also align well to what the business really needs.
2. Shared responsibility: A recruiter-candidate interaction should be a long-term one and not be rosy just during the courtship period i.e., only during hiring. Recruiters must engage well with line managers to understand their needs, both current and future. The role of a recruiter will evolve to predict future talent needs and be prepared to source them “as of now”. A shared responsibility will then evolve between the TA function and the business, and thus work better towards fulfilling future talent gaps.
3. Leveraging technology: Automation for candidate sourcing, artificial intelligence (AI) for screening, video conferencing for interviewing, analytics for offer management — the recruitment baseline is marked with technological changes and recruiters must adopt to this change. The use of AI to better predict the recruitment funnel is a very real outcome of this change. Tomorrow will be the age of “smart recruiting — with targeted actions ensure a greater success rate at getting the right fit on board.
4. Candidate experience is critical: Tomorrow is going to be a super-connected world, and a single mistake by a recruiter such as failure to update the candidate can spread like wildfire, hurting the employer brand. It will therefore be important to deliver a great candidate experience. For this, organizations must turn to a concept called integrated talent acquisition, which means data-mining, candidate relationship management, employer branding, ATS and other tasks being carried out in conjunction with each other.
5. Diversity focus: The future of work is dynamic and flexible, with diverse employee groups showing huge potential. Recruitment methods must change to suit the changing workforce — diversity hiring based on gender, sexual orientation, disability, and generation is only one way. Another is to tap into a growing pool of alternative workers i.e. the freelancers, consultants, part-time workers and so on. Recruiters must devise different strategies to hire different people.
Recruiters must wake up and improve their hiring skills, in line with these future changes. Those who will adapt to the future needs of business, while meeting the current needs adequately, will emerge successful, staying ahead of the war for talent and providing their organizations a true talent edge.