According to a recent CareerBuilder survey, companies across the globe are looking to revamp their hiring efforts to fill both the temporary and full-time positions in the year 2019. The same survey found that 44% of businesses are looking to hire full-time employees and 51% are planning to hire temporary employees.
Employers, talent, and recruiters alike will be a need to prepared to navigate the following 5 trends:
- Talent shortage
Competition for talent is fierce and set to get fiercer. The US government predicts that the economy will fully recover from the Great Recession by the year 2020 and the labour force will return to full employment. To succeed in this market employers and recruiters will need to evolve their approach. 45% of all the hiring managers surveyed said that they are unable to fill the much-needed positions due to the scarcity of qualified talent.
- The pursuit of passive candidates
These are individuals who are currently employed and aren’t actively job-hunting. However, they would be open to discussing a new role if it came along. Engagement on social media gives these passive candidates a chance to see what they’re missing out on. By engaging potential applicants using interesting and educational content, they are made aware of the company, its values and the workplace environment.
- The rise of AI
Artificial Intelligence will increasingly influence interviewing and assessment of candidates, not only resulting in better recruitment automation but also making the hiring process smoother, and more streamlined. Of course, these will not replace the human functions of assessing a candidate’s potential, and determining their cultural ‘fit’, but will importantly speed up and thereby shorten the recruitment process.
- The fall of the blaggers
While all CV’s, or resumés, should accurately and honestly capture a candidate’s employment history and achievements, all too often it feels like they should come with a disclaimer that reads: “Loosely based on a true story. Some facts, events, and names have been modified for storytelling purposes”. Recruitment platform Magnetics is set to leverage Blockchain technology to weed out the pretenders — on the sides of both the employers and the job seekers.
- Better onboarding
Once you find the right person, keep them! Research conducted by Lulaway shows that a day-long induction can increase three-month retention rates by 20%. Induction programmes that include an explanation of workplace protocols, job expectations and clarifications about leave and salary arrangements help new employees settle quickly, and feel more confident as a result.
Leveraging Blockchain technology, Magnetics will radically improve and expedite the [recruitment] process for all involved. Saving time, saving energy, and ultimately saving money.” Adam Kilshaw, CEO and Co-Founder of Magnetics.