2020 is shaping up to be recruiting’s most transformative year yet - and its most challenging. With job growth expected to increase throughout 2020, a tight labor market will require HR departments across the globe to get creative.
Luckily, there are a number of ways intelligent recruiters can leverage new tech to improve the hiring process. New methods of recruitment can both speed up and improve hiring, for both recruitment managers and prospective employees.
Here are a few of the latest trends to watch out for going into the new year. It’s best to start implementing these processes now to ensure 2020 will be your best hiring year yet. By keeping current, you’ll ensure your company doesn’t get left behind.
70% of the hirable workforce are passive candidates, meaning people who are gainfully employed and not actively seeking a new job. To entice these potential great hires, recruiters must look beyond Indeed and Monster and into the online world we all inhabit.
Facebook, LinkedIn, Instagram, and (increasingly) niche social media channels like Tik Tok are now fair game when it comes to recruitment. This isn’t just about expanding the talent pool; social hiring has other advantages as well. For example, communicating on a more relaxed platform is a great way to assess soft skills, which 89% of managers consider lacking in a bad hire.
Social recruiting relies more on building trust and warmth over time before moving onto a CV or resume review. Chatbots can be one major part in this process, allowing recruiters to handle more candidates in less time, drawing down the talent pool until you’ve found the best hire possible.
HR managers have been saying it for years: The whole company needs to be involved in the hiring process. Collaborative hiring means having a candidate speak with or interview with several current employees, creating a more refined view of the business before onboarding.
Of course, this kind of hiring process increases the amount of time needed. Collaboration doesn’t just have to mean working alongside other employees. AI-tech, which will likely be implemented in over 55% hiring by 2025, can perfectly mesh with current hiring practices while iterating on outdated processes.
It may seem too good to be true, but by using a candidate pre-screening process, along with advanced interview scheduling, the collaborative hiring process can actually be faster than single-interviewer methods. Implementing these methods takes less start-up time than you might imagine; it’s perfectly possible to have collaborative hiring ready to go by the time the new year bells chime.
Wider Talent Pools
It’s not just who applies. Employee referrals, sourced candidates, and warm leads can all be added to the overall talent pool - provided your company’s expanding intelligently.
One concurrent trend is the rise in diversity, as 47% of millennials actively look for diverse companies when applying. Since more diverse companies achieve 95% higher profits, creating a wider pool of talent should be a priority for companies in 2020. It’s here once again that AI can help recruiters improve their hiring.
Xor’s chatbots speak 103 languages, making them a key asset when hiring from abroad. Furthermore, our AI tech can review your job postings for non-inclusive language that may deter candidates. When coupled with the automation and screening technologies mentioned earlier, the breadth of recruitment widenns remarkably.
Recruiters will certainly be kept busy throughout the 2020s as they adapt to these changes. Successful HR departments can get a jump start on the oncoming AI hiring revolution by implementing these practices now for better hiring in the future.
Get a jump start on 2020 by contacting us today to see how XOR can change your hiring process for long-term success.