The excitement of the New Year has settled in and everyone is back to the meeting rooms formulating strategies to make the most out of 2018. Recruitment saw an onset of technology based tools and solutions in 2017 and the whole year was witness to an unprecedented growth of HR technology. Now that HR has finally warmed up to the use of latest technology, it’s time to see where we are headed in the coming days when it comes to performing their single most important function; recruitment. Hiring top talent is one of the top priorities of every organization, it will be yours too, and that’s why you need to be up on your feet all the time, doing things that others are not doing, thinking out of the box in order to win this race.
Here are the top hiring trends that we think are underutilized right now and will come up in a big way this year:
- Use of AI in Recruitment
- Using Video Interviews for Recruitment
- Hiring through Employee Referrals
- Employer Branding Strategies
Use of AI in Recruitment
We cannot emphasize enough the benefits of using an ATS for recruitment. Not only does it helps you automate the entire flow of recruitment but also ensures better candidate experience, hence improving the employer branding. We will discuss in specific about the latter separately, but the point is ATS is no longer a choice, it’s an essential part of every organization’s recruitment efforts.
However, in an era marked by rapid advances in analytics and AI, mere automation is of little consequence, especially when your intent is to hire and retain the best talent. For that, you need software that thinks like a human, a cognitive solution capable of providing data based accurate answers, an AI-powered Applicant Tracking System. Your recruitment software, essentially the most important piece of technology at your disposal should be able to intelligently assess data and provide an accurate predictive pattern to hire high performance candidates.
This Artificial Intelligence can be inbuilt in the ATS in the form of a recommendation engine which employs advanced machine learning to become increasingly successful at matching vacancies with candidates. This all hope is not without a basis in reality. According to the 2017 Bersin Human Capital Trends Report, 38% companies believe AI and robotics will be fully implemented in their company in 5 years. Will your company be one of them?
Using Video Interviews for Recruitment
The goal of video interview is to shorten the hiring time by getting an accurate and fair assessment of the quality of hire. These are more efficient as the recruiter can quickly scan the candidate through their verbal responses, intonations and non-verbal cues without having to be physically present for the interview every single time. It also reduces hiring costs as the added expense of flying in candidates from different locations is eliminated. After analyzing the candidate through the video interview on various data points, you can arrive at a conclusion regarding their suitability for the current role and if needed, call for a face to face session in person. However, there is more to smart video assessment than just this.
Application of artificial intelligence in HR can help collect much more data than is humanly possible. Hirevue, a video intelligence platform collects more than 25,000 data points in a given interview and uses machine learning algorithms to analyze them and return accurate predictions regarding an employee’s skills and work performance in future. Just as email and online methods of recruitment took over phone as a quicker and better way of communicating with the candidates, AI- assisted video interviewing can soon replace the need of the candidate to be physically present for an interview.
Hiring through Employee Referrals
Employee referrals are the most effective source of quality employees and this has been proven time and again. Yet, we have still not found an effective way of extracting the maximum potential out of the employee referral program. The number of candidates sourced through referrals is so minuscule in some cases that HR thinks of it as an added liability instead of an opportunity. This can change in the near future as we witness standalone tech powered employee referral tools trying to disrupt the ways in which HRs execute their referral programs.
With smart social recruiting at their heart, these referral tools work at the root cause of the problem: employee engagement. Utilizing artificial intelligence, these Referral software can learn many things about employee behavior and predict the activities which elicit maximum engagement from employees. If you want to source the best candidates, employee referral programs with dedicated referral software will have to be a core part of your recruiting strategy.
Employer Branding Strategies
Employer branding is as integral to recruitment strategy as the act of hiring itself. Why? Because the talent you are seeking is a buyer and you and many others like you are the brands that he is looking at not only for a good job but for ultimate professional satisfaction. Even if you can provide the best of working conditions and compensations, it won’t help if the talent doesn’t know this. This year we could see some smart employer branding techniques being played out as employers become innovative to attract top talent. Technology and social media can provide just the right platform for you to showcase your story, establish your message and become an employer that anyone would vouch for; in the league of Google, Facebook and others.
(Also Read: 5 HR Trends To Watch Out For In 2018)