The world has profoundly changed, and the form and structure of the modern workplace will likely never be the same. The pandemic has shined a light on the possibilities of work-from-anywhere. Throw into the pandemic mix widespread dissatisfaction with social inequity and gender and racial injustice — and you’ve got yourself a whole lot of challenge and uncertainty.
The latest job trends show a continued focus on working and hiring virtually, a long-term skills-demand-supply gap, and the desire for diversity and inclusiveness like never before. Many of these macro job trends can be mitigated with an effective hiring methodology that helps companies and their hiring leaders handle change management in what we now know to be the “exponential age” — an era where the digital and physical paths finally converge.
It’s a Job Candidate’s Market
Living in an ever-increasing instant gratification world, people want what they want — and they want it now. Today’s candidates are no different, having have become used to this culture of split-second satisfaction, and expect a similar experience in their job search process.
This immediacy puts a significant amount of stress on organizations who previously had long drawn-out processes with multiple rounds of interviews from one stage to another. There is a demand mismatch. However, moving to primarily virtual hiring has made this challenge easier. Not having to take a day off or travel to meet the hiring manager has loosened the restraints on job seekers. There are more options for the candidates, who can now apply to 200+ jobs with one click, allowing them to be in the hiring process for several different companies at the same time. And this reduces the cost to hire comparatively.
Moreover, candidates can drop off mid-process when hiring takes too long. Fully 62% of candidates lose interest in a job if they haven’t heard back within 10 business days after the initial interview (Robert Half, 2021 staffing survey). And about 49% of them will ghost the employer and drop out of the process, while 41% will boycott the company and refuse to consider future opportunities, due to discontent with the slowness of the company’s hiring process.
Our research shows that 6 out of 10 candidates drop out due to an elongated hiring process. There is no doubt that the hiring process needs to move faster in order to keep high levels of talent engaged and experiencing a positive view of the organization.
The Need for Speed
Enter, Instahiring. It’s a new methodology that can make HR and TA leaders the champions of their organizations, saving money, time, and headaches for everyone.
Instahiring takes out much of the repetitive tasks and manual process for the recruiter and candidate. Our company — Talview — built a layer of digitization on top of the applicant-tracking system model to help enterprises improve their ability to hire the best candidates faster, and rapidly fill open positions to reduce revenue loss. We call this “Instahiring” and our mission is to enable people to find their best careers through a candidate experience that resembles a consumer experience. Instahiring is envisioned as the fastest way to hire for enterprise employers across the globe.
Just as technology has altered every landscape in modern business, automation will continue to help companies create a better jobseeker experience while lowering the cost of new hires and creating a more equitable and inclusive hiring process. Implementing a worthwhile methodology — like Instahiring — will offer a paradigm shift to forward-thinking organizations who want an approach that evolves and scales with their company and provides the best candidates possible.
Introducing "Instahiring - Speeding Time to Hire in a Talent-Squeezed World"
Based on these recent trends and how our customers have benefitted from Instahiring, I gathered my thoughts over the past few months to write, Instahiring - Speeding Time to Hire in a Talent-Squeezed World. Adopting a New Methodology to Improve the Recruitment Process.
Considering the benefits our customers have experienced with Instahiring to reduce time to hire, increase quality of hire, and lower cost of hire, I thought our fellow HR and TA peers would benefit by reading this.
This initial digital version highlights the macros trends our industry is facing, how today's goes wrong, and how Instahiring can help large organizations with their high-volume hiring needs. I invite you to download the Instahiring ebook today and share your thoughts with me in the comments below.