Next-generation recruitment is already here. Technology is playing an increasingly prominent role in recruiting activities, and employers are pleased with the results they’re seeing. According to the Randstad Sourceright Talent Trends Report, 71% of executives say that technology has made recruiting simpler and more efficient, 76% say it helps them to make smarter hiring decisions, and 70% say technology reduces risks in hiring decisions.
But just what are the innovative technologies that are fueling next-generation recruitment activities?
Workforce analytics means chewing through people-related data to spit out insights that can have a positive impact in business areas like recruitment. Workforce-based data can help organizations spot areas where they can streamline processes, save recruiters time, and cut costs. According to Workforce.com, workforce data can also be used predictively, e.g. to identify talent availability. For more information about this technology, read our guide “Workforce Analytics 101: The Basics.”
Smart programs can make recruiters’ jobs much easier. ZDnet.com reported on a study in which a data algorithm was more effective than a team of recruiters at predicting worker performance based on the workers’ resumes. The Society for Human Resource Management reports on the ways in which artificial “assistants” can handle routine communications during the recruitment process, even interviewing applicants and answering basic questions. They can improve the candidate experience while freeing recruiters from some of the tasks they like least. If you’re concerned AI will replace recruiters entirely, don’t be. Read our article “Machines as Talent: Are you ready to coexist?” for more information.
Many recruiting tasks can be automated, and organizations that use automation technology reap rewards. The Hackett Group’s The World-Class Performance Advantage: Seven HR Capabilities that Drive Performance Leadership survey looked at “world-class” HR organizations to determine what’s different about them versus the average HR group. One of the most interesting tidbits: world-class HR organizations rely on automation up to 80% more often than HR organizations as a whole. They explain that “a high use of automation allows HR staff to devote more time to talent and business performance-related activities.”
As recruitment becomes more sophisticated, it’s also worth noting that the value of outsourcing increases, because technology-based recruiting requires both the right technology and expertise. It’s a lot to handle – and that’s where outsourcing recruitment comes in.
CoAdvantage, one of the nation’s largest Professional Employer Organizations (PEOs), helps small to mid-sized companies with HR administration, benefits, payroll, and compliance. To learn more about our ability to create a strategic HR function in your business that drives business growth potential, contact us today.