The Rise Of Talent Acquisition: Trends To Watch Out For In 2017
Companies scramble to adapt, the entire talent map of today's economy is being redrawn. Here are five trends that we believe will shape the way businesses recruit in 2017
Photo Credit :
Businesses today are witnessing an acceleration of mega trends. While the subscription economy, uberization and hypermarkets have torn apart traditional business models, disruptive new technologies like Artificial Intelligence, Big Data and the Internet of Things are offering tremendous opportunities to businesses. As companies scramble to adapt, the entire talent map of today's economy is being redrawn. Here are five trends that we believe will shape the way businesses recruit in 2017:
#1 Candidate Experience: The next competitive frontier in recruiting
86% of recruiters believe that 2016 was a candidate driven market, this number is up from 54% in 2011. Candidates today trust their peers, not your marketing campaigns (career pages, ads etc.). They seek social proof like stories, referrals, reviews, and recommendations. To hire the best in this candidate-driven market, companies must treat candidates how they treat their own employees or customers. Companies must invest heavily in candidate experience, measure Talent Promoter Scores and engage candidates who are their promoters to attract referrals.
#2 Recruiting will be proactive & predictive using Analytics
When the best candidates are not applying for jobs -- key metrics like Time to Fill, Cost per Hire are going for a toss. This is where Analytics is going to help companies apply a structured discipline to recruiting by going Outbound. Emulating the outbound sales functions, Analytics will empower Recruiters to identify Talent Pools, define and execute targeted strategies to source & engage with the candidates. These analytics powered recruiting is more predictive, as opposed to "just-in-time" recruiting.
#3 AI will bring "Human" back into Human Resources
Traditional software is built and bought to create systems of record - think of your telephone directory. This software made recruiters data entry operators - where they must manually log every administrative task they perform - like interview scheduling, applicant tracking etc. New age AI powered software is going to automate all these manual tasks and frees up time for recruiters to concentrate on their core activities, i.e., engaging candidates in an empathetic & human-friendly manner.
#4 Big data to bridge the gap between Business and Talent Acquisition
The power shift from employers to candidates brought Business and Talent Acquisition teams closer together than ever before. While Talent Acquisition teams often take the reactive mode where they wait for Business to provide requisitions/JDs, today with Big Data enables them to become a strategic partner to the Business. Big Data powered HR software will help you track and analyze data to provide talent insights like talent landscape trends (supply/demand), Candidate-centric insights, compensation trends etc. to educate Business/Hiring Managers on hiring feasibility. This enables hiring managers to take a data-backed view while making hiring decisions and align with the Talent Acquisition teams closely to hire quality talent, faster.
#5 Job Descriptions are Dead. Say Hello to Candidate Personas!
For the longest time one can remember, businesses have been using job descriptions to hire candidates. Job descriptions are often skewed towards what the businesses want. Today, with four different generations at work which include The Veterans, Gen X, Millennials and iGens, there's a tremendous amount of heterogeneity. The one thing that works in favor of employers today though is the wealth of information and insights that the internet brings in the form of social media. Candidates are expressing their sentiments online and if read into well, one can often under their personalities more holistically. A quick example of this would-be marketers generally tends to hangout on Twitter, while programmers hangout on sites like Github and Stackoverflow. Enterprises today need to be equipped to make sense of all these expressions and digital footprints and build Candidate Personas just like how marketing and sales have been using Buyer Personas to understand buyer motivations and insights.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.