Human Resource departments continue to adapt to the changing landscape of talent acquisition. For some organisations, this means implementing a digital-first hiring process.
For others, it's implementing remote working arrangements - a shift long in the making but greatly accelerated due to the global pandemic.
And some analysts suggest that companies will focus on younger workers such as Gen Zers. This workforce segment is looking for more than a paycheck, so recruitment tactics will need to change.
Yet another recruitment challenge is finding qualified local candidates within budget. Hence why some companies are considering upskilling new hires as a way to get the talent they need.
But the truth is there's only one dominant recruitment trend in 2021 and beyond.
Whether it's looking for qualified candidates or attracting Gen Zers, technology is the underlying driver of future recruitment trends. Specifically, technology trends will include:
- Natural Language Processing
- Intelligent Document Processing
- Robotic Automation Processing
- Remote Work
As 2021 progresses, new technologies will be deployed to address the disruptive elements that continue to impact the business world. Let's look into these in more detail.
Natural Language Processing
As more interviews are virtual, natural language processing (NLP) can help analyse the discussion and provide insights that the interviewer may miss. NLP has advanced to the point that it can perform sentiment analysis to assess a candidate's mood. The technology could result in greater insight into a candidate's personality.
NLP could also be deployed as a chatbot. The chatbot asks a series of questions to potential candidates. Then, the responses are analysed and ranked to provide a list of the top candidates to move forward.
Using NLP allows organisations to collect essential information while providing an excellent experience for the potential employee - automatically.
Intelligent Document Processing
Reviewing resumes is time-consuming. Using intelligent document processing (IDP) can significantly reduce the time it takes to review hundreds of applications. IDP can read data from a CV and extract the relevant information for use by another application or individual. Reducing the document to its essential data points means that interviewers can review the information quickly and compare applicants easily using the same format.
Once the resume is ingested, the information is available in a single database. Creating this one source of truth for job applicant information ensures data accuracy across platforms and makes it easy to perform detailed searches later.
Standard Process Automation
Yes, this sounds like a handful - but let's break it down.
There's a lot of moving parts in recruitment. Even when documents are digitised, you need to pass information from one person to the next, which increases the time to hire. Standard process automation removes such manual tasks.
For example, applicants can be automatically approved based on keywords in their CV and then sent to the appropriate person for review.
Over time, you will accumulate data about applications, hiring channels, and top-performing employees that stay in the long run. All of this information is crucial to developing predictive tools for improving the recruitment process.
With predictive analytics, recruitment decisions can be data-driven, using insights to predict a candidate's chances of success within the organisation. This can help reduce the high cost of recruitment due to lowering staff turnover.
Analytics can also provide insights into the effectiveness of an organisation's recruitment efforts. It can provide information on:
- How long will it take to fill a position?
- How long will the job position stay open?
- What will the cost per hire be?
- How diverse will the workforce be?
With predictive analytics, recruiters can anticipate events for a specific candidate, such as the probability of offer acceptance and the overall time with the company.
In Gartner, Inc.'s 2021 HR Priorities Survey, HR professionals cited building critical skills and competencies among employees as their number one priority in 2021. To do this effectively, companies are integrating learning with work performance.
And technology can assist with upskilling in multiple ways.
- Skills Assessment. Assessing skills and competencies to match with potential candidates is not new, but using technology to perform the function is. With a more extensive data set, artificial intelligence can identify and match specific skills to potential candidates, creating the conditions for a better outcome.
- Training. Using technology to deliver training can be more effective than in-person classes. Enabling employees to access information as they perform their tasks makes it more likely that the information will be retained.
With the right technology, organisations can match the right people with the right jobs based on skills and competencies. So rather than always looking for new talent, consider existing employees as a source of needed talent.
For many organisations, work is likely to be a hybrid of in-office and remote workdays. Without some form of flexibility, it won't be easy to attract high-quality talent.
The success of distributed workforce depends not only on strategy but also depends on technology. This is why you should pay lots of attention to the way projects are executed and find the right remote tools to support that.
Recruitment success in 2021 depends on technology.
While there is no shortage of new developments from a social, economic, and political perspective, technology will be the common denominator.
Whether you're building up a remote workforce or want to streamline your existing setup, the underlying tools will be crucial to your HR success.