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<1 min | Posted on 22/05/2023

Future of Hiring: New Initiatives and Technology Shaping the Recruitment Industry

Reading Time: 5 minutes An organization will only win the war for the best talent if it can expand, change, and evolve. It is...

Reading Time: 5 minutes

An organization will only win the war for the best talent if it can expand, change, and evolve. It is said that having a great vision without great people is pointless. The key to finding great people is paying attention to recruitment’s future. To succeed in the job market, recruiters need to be top-notch. Technological advancements and automation will significantly impact how recruiters hire. They must be ready to observe and accept the future of hiring

What are the new initiatives that will drive the Future of Hiring?

  • Remote Hiring
  • Mental Health Wellbeing
  • AI in Building Revolutionizing Candidate Experience

Future of remote hiring

According to the 2021 State of Remote Work Report from Owl Labs, 2021 was the year that remote work became the norm. 90% of the 2,050 full-time remote employees surveyed claimed that working remotely increased their productivity compared to working in an office. Another 74% of respondents claimed that working from home is better for their mental health now that the epidemic is over, and 84% said that working remotely will make them happier. Many of the survey’s respondents are even ready to accept a pay cut.

The Owl Labs research is backed by an Ergotron survey conducted in January 2022 of 1,000 full-time employees, which also found that since the start of the pandemic, employees have become more accustomed to hybrid and remote office settings, with positive effects on their physical and mental wellbeing. The report concluded that since remote and hybrid work is now the norm, employers need to re-evaluate their workplace cultures.

“Remote hiring is here to stay. The effort and investment that has been put in since the pandemic in 2020 has made people comfortable with the remote setup, and it would take more than twice or thrice the efforts and capital to return to the previous setting. Also, the last two years have seen more success stories than in the pre-pandemic era. Remote and hybrid work also allows us to hire talent and candidates with better skills and experience worldwide. Now we also have better AI-driven tools and products to acquire greater talent remotely”

Kirit Nagar

Director – Talent Acquisition at Razorpay

How influential is company culture? 

Company culture is essential in the modern workplace. Positive workplace culture is considered more essential than salary by 56% of employees, according to a Glassdoor survey.

Your organization’s culture, which combines your company’s values, mission, and objectives, is its heart and soul. It takes participation from your employees, HR, and leadership; it is formed over time.

Mental Health and Well-Being at the Workplace

In the US, 50% of employees have left their jobs due to mental health issues, according to Mind Share Partners’ 2021 Mental Health at Work Report. The percentage is considerably higher among millennials and the younger generation of employees. As mental health awareness grows, employees worldwide are seeking better mental health benefits from their companies. Employers who can do this and establish a secure, welcoming environment for their staff should expect increased employee engagement and retention.

“Mental health issues are a big part of the workplace. The current situation is making us learn many things, as there are still many companies working remotely. We as leaders should motivate people to stroll while having a quick chat to have a slight change in the work setting. So, mental health is one of the important initiatives that must be taken care of”

Dennis Wilfred

Talent Acquisition Lead at Equinix

Recruiting is more than just hiring for the next quarter or year. To make an impactful hiring decision, you must consider changing recruitment trends with new technology. A successful recruitment plan should consider the needs of the present while being adaptable for the future. As technology is changing quickly, AI is the new hiring trend and the future of recruitment.

AI in Building Revolutionizing Candidate Experience

But how does AI play a role in the future of recruitment?

Speed is a limitation for us, but not for robots. Artificial intelligence has the potential to speed up and improve the hiring process. Recruiters can now put relevant candidate criteria into AI-based recruiting tools, discover the ideal candidate with a single click, and set up an interview with them directly.

How can AI help build better organizational structure?

“With AI in your organizational structure, you can have biases taken away from the recruitment process in the sense of how you want to build the organization. It is fixed that the organization today is managing such massive data. Here, AI comes into the picture to help you build predictability. Even while dealing with looking at micro aspects of the organization culture worldwide, making sense of it, then you figure out that if you build objective tools, and if you adopt and bring in AI, it helps you. It will help you take out many biases which exist in the organization at any given point of time, which is one of the biggest challenges right now”

Anoop Hiwalay

Head of Talent Acquisition at Jio Digital Life

Can AI help in building a better candidate experience? 

According to Talent Board’s research, 53% of applicants do not hear back from employers or recruiters even three months after submitting applications. Even rejected candidates should be satisfied with the candidate experience. They should continue to look forward to intriguing opportunities within your company in the future. Artificial intelligence integration in hiring helps to eliminate communication gaps. AI may also open the door to consistent two-way communication between recruiters and candidates. With the integration of AI, both of them will be able to ask relevant questions, using the integration of chatbots and AI algorithms to deliver a seamless experience. 

“AI drives personalization. Candidates expect feedback for their candidature, but companies fail to do so, both the big and small ones. That’s where AI has a greater role, as it drives personalization and gives candidates objective feedback, creating a better candidate experience. Machines cannot replace humans and vice-versa, but using AI right can introduce that little touch of personalization to boost the candidate experience”

Sagar Raina

SVP – Head of Talent Acquisition at Delhivery

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