New-Age Recruitment Solutions Changes the Hiring Landscape
An ideal recruiting solution should be able to hire right talent faster at a lower cost. Size doesn’t matter – whether you are a small organization or a large sized corporate, the problems of recruitment are universal. First of all, it is very difficult to find the right talent at right time then even harder to retain them after a period of time. The art of hiring good candidates though is still too much dependent on people involved in the hiring process (recruiter/interviewers/ hiring manager/candidate etc), an evolution of technology have helped us to move different aspects of hiring to be more predictable, leaner and less dependent on human interventions. In today’s world where there is a talent war between organizations, it is imperative that every organization needs to be agile. Sourcing, which is the first step involving an external stakeholder in the recruitment process is a crucial first step. Organizations which got the sourcing channel right will always be a step ahead with acquiring right talent.
In the new age of digital networks and technology, innovative ways of hiring is taking precedence over traditional sourcing. One of the significant shifts every organization has to adopt is to engage their trusted network (employees,ex-employees, customers, vendors) in the process of hiring. If you can turn your workforce into recruiters, your chances of getting a good hire certainly goes up significantly. This common sense thinking is even backed by various studies and statistics which show that:
Candidates sourced through referrals make a better fit for the job and the company than those who come through other channels.
The very process of hiring gets cut short with referral recruitment.
The referred employees tend to stay with the organisation longer.
Well, despite its many virtues, referral recruiting fails mostly because employees find the company’s referral platforms confusing and cumbersome. Also, many also feel that the incentive system is not easy to understand and it is not transparent. To improve the employee engagement metric in the sourcing process, organizations need to adopt innovative mechanisms both from a technology as well as policy perspective.
A new age recruitment solution should be smart enough to assist organizations to increase the network engagement, enable organizations to hire the best talent from the pool of potential candidates they have, improve the efficiency of a recruiter, enable recruiters to add more value in the recruitment process, and bring transparency in the recruitment process.
With Artificial Intelligence, Machine Learning and Intelligent Search, recruitment solutions can now do things beyond just a skill taxonomy keyword match to screen the candidates. With machines taking over the laborious and repetitive tasks and by adding a touch of Intelligence to it recruitment solutions can drastically reduce the cost of hiring, reduce revenue leakage by hiring faster and quality employees, increase the recruiter efficiency and value addition to organizations, improve employee engagement thereby increasing employee satisfaction within an organization.
Modern SaaS platforms like MintMesh with its open architecture which can integrate with any large application tracking systems like Success Factor, Kenexa, Taleo acts a microservice for these ATS’s and deliver the business result for the enterprise to hire right talent at right time and at reduced cost.