Author : Mr.Narayan Bhargava, Chairman and Managing Director of Calibehr Business Solution Provider across India.
The past couple of years have changed the dynamics and functionality norms of almost all sectors, from the execution of tasks to management of workers and even HR activities, the ‘new normal’ is far different from what it used to be.
The paradigm has shifted and industries are adapting new ways of conducting business. In this article, we will be talking about the staffing industry and the most evident altercations of the current year.
Use of Predictive Analytics : Attracting and identifying quality candidates is of utmost importance for any staffing or HR firm and to make sure this step happens effectively, most firms are now relying on predictive analytics. As the name suggests, it’s basically prediction based on data so it is more like making an informed guess. In HR, predictive analytics obtains data from HRMS, resumes, job descriptions and various other sources to show a calculated outcome about applicants. Most firms now use machine learning algorithms to sort out bulk resumes and use predictive analytics to shortlist the most suitable ones. This way the organisations get apt candidates.
Emphasis on Mental Well-being: Last but not the least, ever since the pandemic, a lot of attention has been laid on the mental well-being of employees and organisations are keen on providing a work-life balance. Some organisations have even started feedback portals for their workers and employee listening programs, so that their mental health and wellbeing can be kept intact. This emphasis on offering a healthy experience also extends to candidates. Several career sites have been upgraded and are using surveys to get feedback from candidates. Moreover, now companies want to rope in end to end service provider who can look after employee lifecycle completely.
Rise in Flexi-Staffing: Next major shift in trend in the staffing industry is the increased demand for contingent workers. In last two years there has been a lot of disruption and uncertainty leading to fluctuation in businesses and laying emphasis on workforce. As a result, talent preference for a lot of companies changed, most firms now prefer flexi-staffing, ditching the traditional model of hiring full-time employees.
An increasing number of organisations have now started relying on staffing companies and vendor management system for procurement of workers to cut down the hassles of conducting the recruitment and selection process.
Digitization & Automation: Dependency on technological tools is also on a rapid rise in the staffing industries, so much so that a definite change has been noted in the ecosystem. Now, cloud computing, AI and an array of other digital tools are put to use to facilitate various steps of recruitment and retaining process. For example, lengthy and repetitive tasks like document verification of employees or the process of background confirmation is all automated. In addition to this, AI is a great aid for sourcing, screening, sorting and ranking candidates for systematic hoarding of qualified and talented applicants. Various staffing agencies vouch digital tools help them conduct seamless on boarding process, and also reduce the time taken to complete the sourcing and hiring of candidates. Automation of these processes eliminates human intervention on all level, thus establishing an error-free and unbiased talent acquisition system.
Remote Hiring: In 2022, the most ‘out-there’ talent acquisition trend is remote hiring. Even though this trend started and further escalated during Covid-19 outbreak, remote hiring stayed even after the pandemic receded, furthermore, it is still gaining traction. The process of interviewing a probable candidate has modified entirely with most steps taking place online. An increasing number of hiring managers are opting for video conferencing platforms to know the candidates and have interactions. Numbers suggest that there are over 50% positions in most organisations that can be filled without the employees having to physically appear for the interview process or even for the formalities post recruitment.
Recruitment Marketing: This further leads to the necessity of ascertaining an appropriate recruitment marketing strategy. Recruitment marketing helps in targeting the right kind of talent by putting forth a proper job description and role requirements. Along with helping in acquiring the attention of most probable candidates, it also helps in personalizing the hiring process so that organisations can screen better.