September 07, 2017
The recruitment industry has undergone a fast and furious transformation since the beginning of 2017, with little signs of slowing down anytime soon. With vast quantities of new technology hitting the market to help optimize processes and interact with potential candidates at a deeper level, a new sort of economy has emerged around the concept of candidate engagement. Recruiters are now hustling to keep up with the endless buying and selling of candidate focus via attention grabbing sourcing methods. This pressure to be innovative has risen significantly especially due to a few specific market changes.
Job Board Giants
Google for Jobs has officially launched and has leveled the job posting playing field in one swift motion. Previously, career board giants such as CareerBuilder, Monster, and Indeed would throw their weight around due to their promise to connect recruiters with the best and broadest candidate pools. As result, recruiters would invest in positing their job orders on these sites. With Google for Jobs entering the field, now serving as a one stop shop for a candidate’s employment search, and utilizing its own indexing formula to pull postings from a company career page and paid postings alike, that clout is greatly diminished. While yes, it can be argued that a giant like Indeed will still hold some of its market power due to its brand power, Google for jobs will be testing that brand loyalty. What this means for recruiters is that having a cleverly worded job description on a high traffic platform, will no longer be enough to stand out. It also means that the places that candidates used to congregate online, such as Indeed or LinkedIn, may begin to lose traffic, making locating candidate populations more complex,
Artificial Workforce Digging In
One of the largest changes, across all industries, is the leap of artificial intelligence products coming to optimize work processes and bridging the gap between technological and human capability. This is being applied to HR and recruitment through the implementation of automated sources, screeners, and chatbots. This is about the technological equivalent of when the automobile replaced the horse and carriage (in case you’re in doubt, we’re the horse.) Overall, this will yield a faster speed of service to both candidates and hiring managers, all while engaging candidates at a new depth. Again, this is going to attribute to the leveling of the playing field when it comes to recruiter skill and speed of service. When everyone is promoting the same way, at the same speed, the need to step outside of the box becomes even more crucial.
Branding Broader
In a growing market staying up to date is the only way to avoid being left in the dust. There is good news though, and that is with new technology recruiters will have more time in their days to actually stop and develop comprehensive branding and promotion strategies. Imagine for a moment, that instead of spending four hours screening through a stack of resumes, a recruiter looks through 25 statistically selected ones, sends off a video screener, leaving themselves three new hours to apply to creative development. This is a luxury of time that the recruitment industry has never had. It’ll be interesting to see what this group of notoriously resourceful professionals come up with.
Conclusively, technology is shrinking skill gaps in the recruitment industry, which will result in a higher need of creative branding and sourcing techniques to stand out. If you and your team are perplexed by the concept of creative sourcing tactics and building your business case, be sure to check out this article to see what exactly it can look like.
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