The first month of the new decade is over – how quickly time flies! At times like this, it’s important to take stock and reflect on the lessons from the last ten years and what that tells us about the ten years ahead. Here are my top Recruiting trends on what talent acquisition will look like between 2020 and 2030.
1. The battle for talent will intensify
Attracting and retaining top talent is resource-intensive, demanding increasing amounts of both time and money. The bad news is that over the next decade, this is only set to deepen. Mckinsey reports that by 2020 companies in Europe and North America will need 16 to 18 million more educated employees than will be available. Employers need not fret though. Talent is not missing, it’s out there waiting for you. In order to discover diverse talent, you need to explore diverse sources and unleash the potential they hold. Venturing into new sources with AI can help realise significant time & cost savings. Recruiting Trends
2. Diversity & Inclusion will demand business transformation
It has been proven time and time again, diverse teams are remarkably more effective than teams who have the same experiences and perspectives. But, this is not limited to gender and ethnicity. Diverse teams also means different backgrounds, skill sets and different ways of thinking. In the new decade, this will be a critical measure for business success. Recruiting Trends data will be fundamental in determining how to achieve this in fair, transparent methods without any unconscious bias leaning a decision to champion one characteristic over another.
3. Technology will become a major force multiplier for driving change in recruiting Trends
In 2020 and the new decade ahead, recruiters should seek to transform their approaches to shaping their business futures. By learning from real-time insights, they can be enabled to deliver continuous improvements in efficiency, compliance and effectiveness. Ultimately, a smoother talent acquisition process will deliver positive results on your bottom line, while talent quality will deliver positive results on your top line from day one and beyond. Recruiting Trends
4. Being data-driven will become the norm in the recruiting profession
The biggest trend that recruiting Trends faces is making sense of all the data that is becoming available from technology vendors like Oleeo! Talent acquisition needs to get more analytic and relationship driven. I believe that the best way to enable this is by harnessing prescriptive analytics. Used well, these allow people to be more data-driven and thus be less caught up in day-to-day administrative burden that make strategic hiring and personal engagement nigh on impossible. Clever data visualisation will help free up recruiter time to identify promising talent and allow them to nurture these best fit candidates. It can be extended to other efforts such as analysing in real-time which job boards are performing best and at which price, helping achieve both cost savings and quality gains.
5. Language will become critical to talent attraction
One bold new way of delivering this is to incorporate technology into traditional blind screening approaches. New algorithms from Oleeo have incorporated research from University College London to identify linguistic factors such as slight differences in CV length, readability and use of certain words, which can also easily lead to gender identification. Analysis of the average number of words and unique words used by male and female candidates across all sectors showed that female candidate CVs tend to be longer and use a greater variety of words.
6. Determining talent quality will be tougher to master
An end to end recruiting funnel relies on an average of 91 actions – the smallest being 40 actions and the highest 134. With this in mind, the task of identifying talent quality is set to become more difficult as employers seek to quickly fill workforce gaps and avoid loss of productivity. Resourcing leaders should consider intelligent selection techniques as essential to ease such burdens and identify talent based on skills and competences in relation to the role description.
7. Candidate demographics will change the shape of workforces
Recruiting professionals have a key role in helping their organisations respond to both the challenges and opportunities of an ageing workforce, especially in terms of how the design of work and jobs will need to adapt. The automated cycle of recruitment means you should have a better talent pool of candidates coming through that reflect the future leaders you want joining your organisation. Clever data techniques will recommend candidates who unequivocally perform better and thereby deliver more revenue, profit, or stay longer in the business. It means that a business can go on to use algorithms based on how employees perform in the business rather than what line managers decide at interview.
8. Volumes will multiply thanks to a casual candidate boom
Candidates are applying for more companies than ever before, with the celebrated “purpose” having less impact than we might think, because candidates are applying across a range of industries. Employer brand is having less impact on determining whether to apply to a company or not. It doesn’t look like potential candidates are “shopping” like consumers, comparing one brand to another and limiting applications. Tracking from websites shows they are not paying too much attention to the brand content before hitting apply and starting the process. With this in mind, it is imperative that recruiters consider their approaches to screening and how to use innovation to identify the best ahead of the rest.
9. Demand for innovation will accelerate as businesses seek a competitive edge
End-to-end recruiting trends needs highly dynamic application workflows and recruitment interview panel management: Recruiters should feel empowered with the freedom to design application workflows that suit particular vacancies across screening, online tests, video interviews & the number of interview rounds needed – in an order that suits the post best. At-a-glance management of the entire recruitment journey including scheduling panel interviewing or planning assessment days will expedite this, with data-driven actions helping to ensure quality is maintained throughout. I expect to see more employers experiment with new ways of doing this over the next decade as competition between industries really ramps up.
10. Hyper-personalisation will drive a shift in talent engagement
Providing hyper-personalisation to each individual with a personal message geared to their persona and preferences (such as channel) will be the next big thing to achieve higher levels of engagement, relationship and knowledge. Given the volumes, it is impossible to meet this objective manually, which is where automation takes over, building personas and determining digital experience and communication.By building the hiring funnel from the candidate pool it becomes possible to target candidates to specific funnels by job type, measuring engagement to determine readiness and interest level.