In 2020, recruiting embarks on a path towards digital transformation. HR specialists are continuously looking for a reliable solution that enables them to speed up the talent acquisition process and to adapt their recruiting techniques to the remote world. The success of business transformation in this area implies to find new talent, to retain, and upscale it. But how does technology reshape this process?
The recruiter is supposed to be the intermediate person, the one who matches candidates with their jobs, and helps companies build their dream team. However, nowadays, to make the HR department work strategically, companies need to leverage the right automation tools to drive real results. In addition to this, they need to leave behind the old fashion steps followed when hiring a person.
TRADITIONAL METHODS vs. MODERN RECRUITING
Traditional recruiting is usually done through press announcements, printed commercials – in general, offline publications (newspapers, magazines, industry journals). However, these sourcing channels have a poor conversion rate in matters of applicants’ stream. Even the more actual conversations on the phone become outdated and slow down the HR department work as, on average, recruiters spend 78,352 minutes on the phone per year.
As these old methods become ineffective in finding and securing talent, the recruitment landscape is changing as they are being replaced by social media, online recruiting platforms, or mobile applications. Among the digital innovations, three main directions developed during the last years, with a focus on finding quality candidates and making a strong connection with them:
Social media: completely free, Linkedin and Facebook offer recruiters the possibility of accessing resumes details without asking for an official one. These networks come with the benefit of exposing the person’s complete work and education history. Recruiters will immediately know if the candidate has experience in a certain field before reaching out to him/her.
Specialty sites: dedicated to helping companies hire candidates that are looking for jobs online: Jobvite, Simply Hired, Myjob, Nexxt, Bestjobs, eJobs, and others. Such types of career sites act like a recruiting hub that engages candidates with companies and vice versa. The main advantage they offer is large and various databases along with the reduced costs and time to hire, employers can post a job directly to these platforms and receive CVs immediately.
For example, HyperCareers represents a hybrid platform that proposes a paradigm shift in the field of human resources. It was developed to facilitate the interaction between companies, human resources specialists, and future candidates and can be easily integrated into the Careers section of any company’s website, where all vacancies are published. HyperCareers brings all stages of recruitment in the online environment, under one single platform.
Hybrid platforms function in a complementary way to the other methods existing on the market for heavy internal recruiting. Platforms such as BambooHR or HyperCareers come with the ultimate all-in approach. Owning an integrated recruiting suite gives you the chance of having all hiring steps under one platform. Such a solution lowers costs, saves time, and eliminates bureaucracy issues. Additionally, it helps with database build-up and tracking, so the employer has the opportunity to save high profile or particularly attractive CVs to build a connection with pre-screened top talent for future use.
Its basic functionalities involve:
• adding and editing vacancies in the company,
• storage and management of all CVs submitted by candidates,
• online assessments involving predefined question sets (text, audio, video), with a configurable answer time,
• online interview, whiteboard and text editor in real-time,
• preferential lists, creating a top of the best candidates.
As the workforce is getting younger and more connected with technology, your career site should keep up as well. Maintain a focus on your candidates and simplify their experience from the moment of application to the final interview. Discover your metrics and benchmark numbers to track your recruiting funnel performance. Jobvite offers an insight into how the recruiting funnels narrow down in 5 successive stages: Career Website Visitors, Applications, Interviews, Offers, and Hires.
Based on their internal data, Jobvite analyzed more than 50 million job seekers and 10 million applications. As a result, the conversion rate from website visitors, who become applicants, is successful around 11%, if it goes below, there is a need for reinventing the employer branding. Also, the average applications per job are 59, and from this number, only 12% of people are scheduled for an interview, 17% receive an actual job offer, and only 89% offer leads to an actual hire. This process takes an average of 43 days until one hire is done. However, these metrics differ from a company to another and can be significantly improved when choosing to fully digitalize the recruiting process.
Time-to-hire is significantly reduced when choosing to own a recruiting platform.
Find out your numbers and re-examine your business model. Get your team on board with the latest digital solutions and remember that video interviewing can save you both time and money while allowing you the access of a large candidate pool. More important, online assessments and video interviewing help you collect a wide range of data, such as nonverbal communication and verbal responses. This way, the recruiter can identify a candidate’s reactions without spending the time and money for an in-person, in-office interview.