The process of hiring employees is constantly evolving, and it is important for employers to stay up-to-date on the latest recruiting industry trends to gain a competitive edge in these rapidly changing times.
From predictive analytics tools to automated evaluation processes, the latest recruiting trends indicate that deploying emerging technologies will be essential for businesses looking to optimize their recruitment outcomes.
In this article, we'll explore recent trends of recruitment that are expected to profoundly shape the recruiting landscape over the next few years.
Recent Trends in Hiring Solutions
A Shift Towards Remote Hiring
Working from home has become the new normal in the past couple of years and it looks like the trend is going to maintain its momentum in the coming years. In today’s time, remote working is not just a perk, it has become a necessity.
According to a study, after the pandemic, 62% of employees expect their employers to let them work remotely.
As a result of the WFH trend, recruitment has also gone virtual, and hiring managers are increasingly using online recruitment tools and solutions to evaluate and onboard candidates. This involves using virtual job board platforms to source candidates, video interviewing software to conduct interviews, or relying on recruitment tools like Interview Insights, Behavioral Insights, and Exam Engine to evaluate potential hires.
Since the past two years, remote job offerings have increased by 135%. Studies have revealed that currently, 89% of organizations are recruiting virtually.
As per a study by Indeed, 93% of recruiters plan to continue using virtual interviews in the future.
To assist HR professionals during the virtual interview, Talview has designed the “Interview Insights Solution.” It helps recruiters gauge the potential of a candidate by measuring the validity of the interviews, providing continuous feedback to the interviewer to improve their skills, and offering insights on the candidate.
Enhancing Diversity, Equity, and Inclusion (DEI) Initiatives in Talent Acquisition
It is essential that recruiters ensure they are hiring a diverse team of employees to create an equitable workplace. Statistics have shown that DEI initiatives can lead to more successful businesses.
According to a study, companies with higher levels of ethnic and gender diversity have reported 33% more profit than their competitors. Similarly, Gartner reported that 75% of companies that value inclusivity and have teams made up of members from diverse backgrounds are more likely to reach their financial goals.
To ensure that recruitment efforts are inclusive and equitable, employers must take steps to promote DEI among both their existing team members and potential applicants. This includes setting clear expectations around diversity goals and providing training programs for existing staff on how to recognize unconscious bias when recruiting.
About 80% of HR professionals believe that inclusivity is an important aspect of hiring. Currently, 30% of employers set specific goals and policies around hiring for racial diversity.
Talview’s Interview Insight Solution combines machine learning, and natural language processing with psycholinguistic frameworks to monitor interviews for unconscious biases. The tool provides real-time feedback to interviewers regarding the validity of the questions and flag biases that can negatively impact the effectiveness of the interview. Additionally, the insights gathered from the interview can be used to create a recruiter training program around DEI policies.
Analyzing the Adoption of AI & ML
The adoption of artificial intelligence (AI) and machine learning (ML) technologies has helped companies streamline their recruitment process. By leveraging these technologies, recruiters are able to automate tasks such as screening resumes, job postings, and interview scheduling.
AI-powered algorithms enable recruiters to make more informed decisions by analyzing data points like work experience, skill sets required for the role, and assessment performance of the candidate. Additionally, AI can also eliminate biases present in the hiring process. 68% of recruiters believe that AI can help them remove unconscious biases from the hiring process.
As per a survey by TIDIO, 67% of HR professionals believe that implementing AI can improve the entire recruitment process. 98% of hiring managers say that AI can be very useful in processing candidate applications and 85% think that in the near future, AI will completely take over some parts of the hiring process.
Talview is a leading recruitment solution that leverages AI and ML technologies to ensure organizations hire the best talent. With our tool, organizations can automate processes like screening, online assessment, and proctoring, and gain insights into their entire recruitment process. Furthermore, our AI-powered solution is also capable of evaluating candidate soft-skills and generating a comprehensive report on candidate behavior.
By leveraging Talview’s AI-powered technologies, employers can streamline their recruitment processes end-to-end while also ensuring diversity & inclusion across all levels of hiring.
Redefining Candidate Experience to Establish Brand Loyalty
Candidate experience refers to the journey a candidate takes when undergoing an employer’s recruitment process. It includes everything– from how the employer communicates with candidates, their engagement levels throughout the recruitment process, ease of scheduling interviews, the feedback mechanism, and of course, the overall TAT to complete the entire interview cycle.
Candidate experience plays a critical role in effective talent acquisition and it is essential for employers to prioritize creating a positive experience for potential new hires. Building an effective candidate experience helps organizations attract top talent, increase the quality of hires, and establish brand loyalty.
About 78% of candidates say that their experience during the recruitment is a tell-tale sign of how a company values its employees and 81% of candidates feel that employers who continuously communicate status updates improve the candidate experience.
Candidates are 4x more likely to consider an organization for future opportunities when they offer candidates constructive feedback.
AI with a combination of Natural Language Processing (NLP) has also been used to improve candidate experience through chatbots and virtual assistants. Chatbots can help speed up the process while providing a personalized touch, allowing recruiters to maintain better communication with applicants throughout the hiring process.
Talview utilizes AI and NLP to improve candidate experience and engagement during the recruitment process with its conversational chatbot. The chatbot can answer candidates’ questions in real-time, guide them through the application process, share information about the company, or provide feedback on their applications. This helps in shortening the recruitment cycle by providing an engaging experience for job seekers who expect a personalized approach throughout the recruitment process.
Reaping the Benefits of Social Media
Recent recruitment trends showed an increase in social media platforms for talent acquisition. Social media has enabled employers to reach out to a larger pool of prospective candidates. Hence, companies are utilizing social media platforms as a way to advertise job openings, promote their work culture, and engage with potential applicants
Social media channels have given organizations a unique opportunity to create meaningful relationships with candidates, which can enhance their employer brand and strengthen loyalty among current employees. In a survey, 47% of recruiters affirmed that social media plays an essential role in employer branding.
More than 85% of employers state that the social media presence of candidates is extremely important while hiring. 66% of recruiters post job openings on social media, with Linkedin being the most used channel for recruitment. In 2022, about 73% of millennials found their current roles through social media platforms.
Future Hiring Trends
Strategizing for a New Generation: Gen Z Entering the Workforce
Gen Z is a term used to refer to the population born between 1997 and 2012. This generation of digital natives differs from their predecessors in many ways. Gen Zs are often seen as more tech-savvy and entrepreneurial in spirit. According to a report by Deloitte, 51% of Gen Zs work in the tech industry.
In terms of workplace expectations, Gen Zs value flexibility and work-life balance over higher salaries. The latest recruiting trends show that 53% of all Gen Z workers are freelancers.
It’s not enough for employers to just provide a paycheck; Gen Zs want meaningful job experiences with the potential for growth and development within an organization. In a survey, 83% of Gen Z participants say that career progression opportunities are important when deciding where to work.
By 2025, Gen Zs are expected to account for 27% of the workforce.
Harnessing Predictive Analytics to Assess Candidate Quality
Predictive analytics is a technique that helps recruiters to better identify the most suitable candidate for a given job opening. Using advanced algorithms, predictive analytics allows recruiters to analyze applicant data such as skills, experience, and interests to determine the likelihood of the candidate succeeding in their role with greater accuracy. This analysis can also detect patterns and anomalies in data to help employers understand what kind of profile an ideal candidate should have for a given position.
Additionally, this technology can be used for identifying candidates who have not applied for positions but are likely to be a great fit based on their profile.
Recent trends in recruiting suggest that companies using predictive analytics solutions see significant growth. Organizations implementing predictive analytics to hire candidates have witnessed 56% more profitability than other businesses.
Due to the transformational benefits offered by predictive analytics, 71% of HR professionals considered it a high priority for recruiting success. Hence, one can see that the future of hiring is shaping up to be more data-focused than ever, which will empower recruiters to make strategic decisions based on quantitative metrics rather than individual impressions.
Leveraging Gamification to Make Recruitment More Engaging and Fun
Gamification is another emerging trend of recruitment that has been gaining traction. This approach encourages active participation among job seekers through the use of game-like elements such as points, badges, and leaderboards. It offers a unique way to engage potential applicants and makes the recruitment process more enjoyable.
By leveraging gamification, recruiters can effectively evaluate candidate attributes such as problem-solving skills, creativity, communication style, decision-making ability, and other relevant skills.
According to a survey, 78% of candidates believe that organizations that implement some sort of gamification in the recruitment process are more desirable.
Studies have also observed that gamification can improve the productivity of 90% of hires.
Potential of Virtual Reality (VR) and Augmented Reality (AR) in Hiring Solutions
Current hiring trends show that Virtual Reality (VR) and Augmented Reality (AR) are the future of recruiting technology. VR and AR can eliminate geographical boundaries by allowing recruiters to interact with remote candidates virtually in an immersive environment. This can improve the candidate experience and keep the talent more engaged throughout the recruitment process
VR and AR can also be used to provide potential employees with a virtual tour of the workplace and give a better understanding of the nature of the job. 65% of candidates are more likely to accept an offer if they first experienced the role through technology. Hence, immersive technologies can also help recruiters to reduce drop-out rates.
By 2030, VR and AR will be used in more than 2.3 million roles including hiring, training, and other use cases.
To enhance the recruitment process, Talview offers a intuitive platform that enables recruiters to leverage the power of immersive technologies and recreate the experience of in-person hiring. The platform offers features like peer group interaction, games, and company culture-sharing sessions, which allow organizations to establish a better connection with the candidates and increase the depth of candidate engagement.
Conclusion
As recruitment industry trends continue to evolve and hiring technologies see rapid advancements, organizations need to keep up with new hiring solutions in order to stay ahead of the competition. By leveraging AI/ML tools, predictive analytics, gamification, and VR/AR technology, employers can create a better candidate experience and increase their recruiting success rate.
Talview helps organizations unlock the potential of AI-powered technologies for reducing recruitment costs and improving time-to-hire while enhancing the quality of hires. Our tools allow recruiters to interact with candidates using cutting-edge technologies like conversational chatbots and the Metaverse platform that improves engagement and enhances the overall hiring experience.
Visit Talview to learn more about our next-gen hiring solutions.
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