The way companies hire is changing rapidly. In the past, you put out an ad or stuck up a sign. In our rural communities, you may have driven down to the local Co-Op at coffee time. People who wanted a job brought you their resume. If you liked it and you liked them, you gave them a job, and they were glad to have it.
Times have changed. Today, employers struggle to fill key positions in their organizations. Traditional hiring methods are providing more challenges than opportunities. Employers want to adopt new strategies to fill their workforce needs. Here are some emerging trends.
Companies are struggling to find suitable employees. As the baby boomer generation retires, there are growing holes in the workforce. Countries such as China and the United States that currently have a labor surplus will experience a labor shortage by 2030. The problem is even more intense for countries like Canada, where the supply of highly qualified workers is already below demand.
There’s a big mismatch. Right now, there aren’t enough people to fill highly skilled positions, while there’s a surplus of workers for less-skilled occupations. That gap is only going to widen.
More businesses are using artificial intelligence (AI) to make hiring decisions. Employers use technology to conduct initial screenings. SEO (search engine optimization), keyword identification, and auto-responders contribute to the manner in which businesses approach the job market. Likewise, efficiencies and automations by way of applicant portals, online surveys, and assessments are drastically changing the way employers and career seekers come together. The system uses language processing to ask questions and gather answers in job marketing and applicant processing functions. This saves time for employers by weeding out unqualified applicants.
Employers are using to influence hiring decisions and process. Much like businesses gather data and metrics on business processes such as production and sales, metrics related to time to hire, candidate sources, and hiring process conversion directly affect decisions regarding investments in your workforce. This extends far beyond who gets an offer and may determine who gets a call back, an email, or is asked for time in person.
Use data to determine where your time is being consumed in the recruitment and selection process. Spend time on the candidates who deserve your time. You would never give every solicitor time/space in your calendar; consider resumes and candidates in the same light.
Businesses offer more perks to entice employees. Millennials want different things than employees from previous generations wanted. Salaries are important, but job seekers look for benefits including flexible work schedules, extended parental leave, and extra personal time. The businesses with the best work environments attract the top talent.
When you work with SmartHire to find suitable employees, you streamline the recruitment process. We help you fill openings and maximize efficiency with smart workforce planning. Contact our team today to find out more.