Fact – the significant lack of skilled workers is affecting every aspect of Indian business and commerce today. There is a talent crisis with over 40 per cent of employers struggling to fill positions with qualified hires. While issues arise with talent shortage, the main problem lies with how hiring is done in this country. Technology is slowly addressing and changing that.
Present day recruiting
Over the past 2 decades, the recruitment process has seen a liner approach – locate the candidate, track candidate progress and execute process. Web 2.0 technologies and SaaS based offerings are now forming the ecosystem for cost effective hiring that strays away from linear recruiting. Online resumes, video interviews, mobile apps, digital interview platforms are enabling Human Resources departments to activate a brand new school of recruitment tools that hire better, faster and add more value to a hiring cycle.
Automated recruitment is fast becoming the go-to talent acquisition strategy. The key factor owing to the success of recruitment technology is the refinement of ‘people analytics’. With the help of cloud-based and big data recruitment tools, recruiters are being empowered to intelligently pick the right candidate for the position while filtering techniques, online assessment, psychometric testing and behavioral interviews can take place over mobile offerings.
Industry practices and why they are flawed
Recruiters on average use almost 23 hours to screen resumes for a single position. With Big Data integrating seamlessly with social media, recruiters are finding they can save the time and labour needed to manually sift through the many resumes per position. This helps hire the right candidate without relying on the ‘spray and pray’ technique.
Smartphone usage and popularity has been a massive technology disruptor in the recruitment space. Digital and mobile interview platforms are the go-to players helping end-to-end recruitment processes, especially in mass recruitment scenarios. Through native mobile apps, recruiters are able to reach, engage, assess and shortlist candidates globally. The mobile offering also features quick and easy applications for candidates with video-recorded interviews, skill assessment tools and digital psychometry tests. Candidates and recruiters both benefit from these offerings and save of months of searching for the right candidate.
Where is the disruption coming from?
Other new and emerging forms of disruptive innovation is being seen with the introduction of AI. With machine learning and AI, tools are consistently being developed to boost the hiring cycle. The majority of AI-based tools cover 75 per cent of recruiting processes currently, with the right focus being on data analysis and screening candidates for pre-interviews sessions. AI systems are rapidly growing due to their efficiency and speed. Added benefits include unbiased approach to processing candidates over boundaries. The near future sees AI ready to take over all steps – even person-to-person interactions. There does however lie the ethical and technological barriers for end-to-end integration of AI that are not yet fully understood.
Automated hiring – a distinct possibility
Automation is amongst the latest tech trends in the hiring space with the need to screen massive volumes of candidates. Automating the recruitment process, from job posting, matching, assessing and onboarding candidates is a process that continually evolves. Candidate databases are created using some form of applicant tracking systems (ATS). This system empowers recruiters to reach out to passive candidates based on application history. Companies investing in talent acquisition platforms which integrate CRMS with ATS and seeing a reduction in paperwork and an increase in data accountability. AI-powered chatbots are also effective in engaging candidates and ensuring in-chat pre-screening processes are up to the mark for high quality interview steps.
Technology is making its impact on the recruitment space being felt by allowing the recruiter to make more informed decision, focusing on candidate engagement.