As we wind up 2016 and chalk-out our strategy for the new year, let’s take a look back at how this year molded the recruitment circuit. Irrespective of the growing candidate pool, the recruitment market continued to stay aggressive with companies competing with each other to attract top talent. The hiring strategies this year were also heavily influenced by employers in their efforts to woo and retain millennials.
Here is a look at the hiring practices that dominated 2016:
Social Media Recruitment
The initiation of social media in recruitment practices has opened new avenues for companies over the years and 2016 was no different. According to a survey by LinkedIn’s global recruiting trends, 47% of the respondents stated that their outbound recruitment strategies involved social media. Social media outreach is empowering employers to go beyond traditional job posts and establish a continued relationship with prospective candidates. Employers are grasping the concept of being “switched on” on relevant social media platforms to build a strong presence to showcase their company brand and culture to their respective target audience.
Employer branding continues to play a significant role in recruitment strategy. According to a survey by Jobvite, 59% of the respondents used social media to understand the company culture of organizations they wanted to work with as well as the perks and benefits that came with the role. Companies are putting immense emphasis on their value proposition as employers and working towards the culture they want to foster. This is not just to attract new candidates but ensure that they retain their top talent as well. Here’s how one company found success with video content on employer branding:
The recruitment tech scene this year leaped beyond aggregators and market places. From the introduction of AI in automating recruitment workflows to writing unique machine learning algorithms for efficient candidate screening, technology is redefining the recruitment sphere. Companies are not just using technology to revamp their workflows but also using it to build focused and reliable assessment methods. For employers who engage HackerTrail to recruit, the hiring processes go beyond mere interviews as HackerTrail’s proprietary technology allows to automagically curate candidates, minimize the human bias and maintain the focus on quality. Coding challenges via gamification are put in place to test candidate skills, eliminating the element of chance from the process. This also gives candidates an opportunity to experience the job scope first hand and have fun while they are at it.
“Hackertrail was both an amazing experience and an unconventional interview process that allowed me to connect with my future employers through interesting challenges. It gave me a good preview of what to expect in my future role as a web developer and I thoroughly enjoyed the stretch of my technical capabilities while going through the tasks!”
– Yang LJ
(Top Talent on HackerTrail recruited by a government agency)
Like every business function, human resources are heavily relying on predictive analytics to understand future scenarios and bet on their strategy and other executive decisions. Companies are using predictive analytics to understand their candidates better based on their interviews, submissions, work experiences and other data points. Many companies build models to assess their candidates and determine their potential fit in the company. Companies are also using predictive analytics on existing employee data to scrape for patterns to model their ideal candidate and shortlist accordingly. HackerTrail focuses on two key hiring metrics: speed and quality to empower employers to focus on the right candidates and shorten their time to hire (see infographic below).
This year has been a “candidate’s market” more than ever before with 2016 witnessing the industry restructuring their recruitment approach from “push” to “pull” – a focus on attracting and nurturing a healthy talent pool rather than blanket outreach and active scouting. Recruitment strategies anchoring firmly on technology and analytics are bound to up the notch in the coming year. With emphasis on efficiency and metrics, automation will be the focus in 2017 and the key for companies to fit into the rapidly evolving innovation landscape of recruitment.
Till then, here’s us wishing you best wishes for the new year ahead!
New year, new recruitment strategy? Here is one place to start: www.hackertrail.com