Current scenario and challenges in recruitment
Mobile Recruitment series: Post 1
The recruitment ecosystem has changed drastically over the course of few years. The traditional paper resumes are slowly being replaced by digital applications and all recruiters are working towards developing digital hiring models.
As technology continues to evolve, recruiters have to keep up with trends and re-design their hiring process. But most recruiters would agree that the major challenges they face while recruiting is sourcing and retaining talent.
From the everyday conversations we have with the recruiters, here’s our take on the top 5 challenges that the current recruitment industry is facing:
- Needle in a haystack – 48 per cent of small businesses reported “few or no qualified applicants for the positions they were trying to fill”. The situation is no different for larger organizations. Talented hires are getting difficult to come by and with hordes of applications most recruiters find the search for the right candidate equivalent to looking for a needle in a haystack. Quality of hire continues to be the most important metric for performance. It is also difficult for recruiters to assess a candidate’s skills in short duration. With quality of hire being the most important metric for performance, interview processes are being stretched across days, increasing costs and time to hire.
- Shrinking Budgets – Job portals, social media and effective referral programs have reduced the dependency of a recruiter or a head hunter. Employers have significantly reduced their hiring budgets over the past couple of years. In addition, conducting background checks on every individual is challenging for organizations with limited hiring budget. The gap between volume of hiring and hiring budgets is widening every year; a continuous struggle that recruiters face.
- Candidate-driven market – 86% of recruiters feel that the current recruiting scenario is candidate-driven, up from 54% in 2011. The shift in power is attributed to dearth of talented candidates or to scarcity of vacancies. Talented candidates are spoilt for choice, giving them more bargaining power over recruiters. This places recruiters at a disadvantage, as they are competing to snag top hires and losing out to large firms.
- Passive candidates – Recruiters need to curate and analyze data to be able to reach out to the right candidates. Globally, 75% of professionals consider themselves “passive”. It is important to include them in the target talent pool given the dearth of right talent. This can be time consuming and an additional burden for recruiters that are already handling large volumes. India ranks 3rd (69%) compared to other countries in terms of hiring passive candidates.
- Too many cooks – With so many recruiters out there trying to poach candidates off each other – most of the times for the same job vacancy! A low entry barrier to becoming an HR agent has made the industry chaotic with too many recruiters leading to a drop in quality hires. In this adapt or perish environment, recruiters have to differentiate themselves from the herd by accepting disruptive technologies or risk getting replaced by a computer program.
Mobile Recruitment is a viable solution
In the current digital era it is no surprise that the solution to recruitment challenges is a digital one. Up until recently, the app market was dominated by “job searching apps” and no applications catered to “candidate searching”. Mobile recruitment has changed this scenario with key players joining the recruitment game. Newer apps are being developed to focus on sourcing, engaging and hiring candidates – without having to shift between devices. Mobile recruitment strategies are also fitting into the limited budgets of most organizations. With reduced cost of hiring, recruiters can now invest in planning hiring processes that would transform their talent strategies. Simpler application processes are being developed, reducing the complexity of hiring and enhancing candidate experience. Mobile recruitment coupled with social media hiring is also an excellent strategy to gain access to a better candidate pool. Some apps are being developed where geo-tagging is being used to help candidates filter down their searches and provide location specific search results.
Companies have to re-evaluate their strategies and take a forward-looking approach to recruiting. Adopting newer trends and staying up to date with the market would help any recruiter develop an efficient strategic approach to talent acquisition – with mobile recruitment playing a key role.
Willing to explore how mobile recruitment can augment your organization’s recruitment strategy? Download our Thought Paper here.
Find out: How Smart phones are redefining today’s recruitment landscape in our next post. Read it here.