In this VUCA (Volatility, Uncertainty, Complexity Ambiguity) world in which trends are changing and being set every new moment the recruitment process is also changing its form every new day. Gone are the days when people used to look for job ads in newspapers and send in application letters to companies, the entire process now happens at a finger’s click.
Social media is emerging as a powerful tool today interfacing the lives of both job seekers as well as recruiters; it saves both time and energy. Almost 92% of the companies use social media for hiring today and this trend is expected to follow an increase in the years to come. According to a Linked in report 40% of the Fortune 500 use linked in for recruitment’s, such is the power of social media. Social media sites also serve as an important source for background verification, many a times companies go through the linked in and Facebook profile of a candidate to gauge that how updated he is and how well aware he is about his industry and his profile.
Another important concept that is on the rise today is Employer Branding. Every company today is striving hard to establish its brand identity in the market and hence continuously working to make its presence felt on Social Media platforms like Linked In, Twitter, Google Plus, Pinterest and many more. As such concepts like Search Engine Optimization, Social Media Optimization are gaining widespread popularity in the professional arena.
The concept of HR Analytics is also trending. About 50% of the Indian companies are using data to drive their hiring decisions. HR Analytics helps businesses to draw information from past data, convert it into useful metrics and then finally use them to predict future trends. This prediction helps to visualize and understand the optimum measures that the business must undertake in order to hire the best talent and get the maximum performance delivered from its human resource.
Another interesting finding that is coming up today is related to the use of mobile phones in recruitment’s. While 50% of the candidates use mobiles to send in their job applications, only 13% of the companies are investing adequately to make their career page accessible through mobile.
Also it has been found that while campus recruitment is losing its importance gradually, hiring through referrals is gaining wider acceptance in companies. In almost all the Multinational companies today about 50% of the lateral hiring takes place through referrals. This not only brings in cost benefit to the company whereby the efforts going into sourcing and interviewing are minimized but also reduces the hiring turnaround time.
Finally, it can be said that it is very important to keep oneself abreast with the latest updates in the industry and accordingly improvise the processes and policies so that one never lags behind in the race, rather emerges as a victor.