Originally posted on January 7, 2020 @ 8:07 am
What changes do we see in the Recruitment scene?
- In 2020, Gen Z (those born between 1996 to 2010) would enter the workforce. These vibrant youngsters who were raised on the internet and social media have different expectations from the world of work. Recruitment agencies and recruiting staff in companies must take care to meet these expectations.
- Remote work and telecommuting are becoming the norm. Already nearly 75% of workers around the world work remotely once a week. This number is likely to climb higher in the coming years.
- With a trade war with China overshadowing the horizon, the US economy looks unpredictable. From the recruiter’s perspective, the present concern is that the economy is at full employment. This implies that it’s a slow time to hire. The number of jobs exceeds the number of candidates so recruiting companies need to use more tact and creativity to get the right people.
What are the trends that will rule recruitment in 2020?
As in other fields, technology will be the main driver of change in recruitment in the coming years. The change in workforce demographics and the corresponding change in preferences would also greatly alter the way we recruit. We have gleaned insights from our experience and environment to predict the top trends that we need to watch out for in the coming year.
1. Recruitment Marketing
As we discussed before, the job market now is highly candidate-driven and it is likely to remain so in 2020. So recruiters would definitely find it twice as hard to hire people with the right skills for their organization. In such a skewed job market, candidates become the new ‘customers’ and recruiters the new ‘marketers’. Companies that want to be successful in hiring need to create and target their content strategically so that it reflects their brand in a way that attracts candidates. Candidates’ perception of your company’s recruitment process and the experience they have with you will decide if they will join you or refer to others. So recruiters must focus on creating a positive candidate experience in every step of the recruitment process.
2. Collaborative Hiring
Recruitment is no longer going to be a function limited to the HR department or the recruitment staff. In 2020 and the years beyond, recruitment is going to be a collective function that all your employees are going to contribute to. This can happen through employee referrals and employee advocacy. Though employee referral schemes are nothing new until now they have not been used as primary recruitment tools. But in the coming years using a personal network of your employees may surely take more precedence as recent studies find that it brings better quality candidates at a cheaper cost.
3. Diversity Hiring
Why is making sure your employees are a diverse mix important in 2020? In a globalized business world, where borders have blurred, cultures have amalgamated, and the voices for equality have intensified, it pays a high dividend to have a diverse workforce. Not only does this give a positive perception about your business also aids an unrestricted flow of creative ideas. A study conducted by McKinsey a few years ago found that on a national level, companies with greater racial and gender diversity were 35% more likely to have financial returns higher than their industry average.
4. Social Hiring
When you are fishing for talent in a sea of people, it’s common sense to cast your net where potential candidates are. But where are all the young energetic talents today? Simple answer: They are on social media! 3.2 billion of the 7 billion people living in the world today are on social media and an average user spends 2 hours and 22 minutes every day on different social media platforms. So social media is one tool that recruiters or recruitment agencies need to use extensively today. Social media recruiting is not just posting your job ads on your social media platforms. You can use these platforms to promote your organization’s culture and values and actively engage with potential candidates.
Another trend we see in the social media space is that companies are increasingly using videos to captivate young talent. They conduct interviews on video mode and use video promotions to establish the employer’s brand. Video testimonials of current employees sharing interesting aspects of your work culture and their positive experiences can inspire candidates to join you.
5. Technology-driven Hiring
Of all the trends set to sway the recruitment industry, the most disruptive ones are those driven by technology. Automation in hiring functions like screening candidates, scheduling interviews, scanning applications and tracking the application process is already in practice. Going forward, this trend of automation is only going to gain more traction. Software that provides integration of all recruitment tools on a single platform is surely on the cards in 2020.
AI and Data Analytics are transforming every dimension of business in the modern world and are changing the face of recruitment too. Using AI and data-driven technology can give you invaluable insights into your hiring performance and help you improve your hiring metrics. They do this by helping you identify the hiring strategies that work well for you and those that don’t.
While these trends can’t help us definitively chart out the future course of recruitment, they point the compass to the direction that recruitment companies must take to stay ahead of the curve. Do you need more information on how to make your recruitment strategies fall in line with the trends? Rannsolve specializes in providing recruitment and staffing solutions that keep pace with the advancements in the digital world and at the same time are perfectly attuned to your unique needs. Contact us today for a free quote.