The onset of the pandemic has led to a sudden economic slowdown, followed by a recession, lay off, and drastic impact on almost every industry. As most companies shifted to remote working, the recruitment industry had to adopt specific changes to ensure seamless high volume talent acquisition.
Previously, most recruitment processes included days to months for the selection of the right candidate. Owing to the cut-throat competition in talent acquisition, most businesses require to speed up their recruitment through the digital transformation of the process.
What is Digital Transformation?
In the recruitment industry, most recruiters had to spend their maximum time sending mail to potential candidates, cold calling, conducting telephonic and face-to-face interviews, and screening the talent pool for the best candidate for the job. As the pandemic outbroke, the digital transformation in recruitment took a more rapid pace.
Digital Transformation in recruitment involves the use of technology and data solutions for the automation of mailing to the target pool, screening of applications on specific parameters, and speeding up the recruitment cycle as a whole. Moreover, the introduction of Artificial Intelligence (AI) in recruitment has increased operation efficiency by eliminating human errors.
Impact of Digital Transformation in Recruitment
Digital transformation of recruitment has led to competitive advantages to the businesses such as employee retention, greater employee satisfaction rate, and many more. Here are some of the advantages that any business can enjoy if they adopt digital transformation in recruitment.
- Better Hiring Rate
The automation of tasks like tracking applicants and scheduling interviews speeds up the daily process for your recruiting manager saving time and organizing every detail to his convenience. Therefore, your recruiting manager can efficiently conduct high-volume quality hires in a shorter period exhibiting a better hiring rate. Innovation and lateral thinking are something you invest in when you opt for quality hires.
- Quick Analysis
Advanced technology and Artificial intelligence can minimize a hiring manager’s manual hours into just a few minutes by sourcing relevant candidates by screening more than a thousand applications and CVs that match the job. Digital transformation plays an essential role in saving time by gathering and analyzing data on improved metrics to provide a more accurate, error-free, and efficient analysis. Therefore, it reduces the cost per hire and helps the recruiter identify skill gaps to recruit accordingly.
- Improved image as Employer Brand
Most job seekers check out information about the employer before attending an interview. Therefore, every employer must create an employee-friendly image in social media to attract the top tier talents. As hiring managers are adopting digital transformation, building a public image of their organization is of utmost importance. Recruiters have the responsibility to create engagement through the social media accounts of the company. Moreover, they can use AI to engage potential candidates through email marketing.
- Boost to Operation Efficiency
Due to the pandemic, the introduction of virtual interviews along with candidate assessment, has become a common thing. Digital transformation has made the candidate assessment easier for the recruiters. The recruiters can use several digital tools to filter out suitable candidates, shortlist them, and finally assess their abilities through required metrics. In this way, the recruitment process is conducted in a shorter time with better efficiency.
- Edge for tapping top tier talents
According to a study, 78% of employers believe using an Applicant Tracking System (ATS) makes finding great talent easier than ever. There are several statistics where recruiters have vouched for better results in recruitment by using recruitment technology.
Moreover, it has been noticed that digital transformation has led to better candidate experience as well as reduced employee turnover. The use of technology not only helps the recruiter to tap top tier talents faster than mainstream sourcing but also offers a larger talent pool through social media job advertising.
The Bottom Line
While most companies are adopting the digital transformation, few companies have stepped back, stating financial budget as their primary constraint. However, if we look into the gains of digital adaptation in recruitment, the financial budget may not become a problem owing to the greater good in the near future. Every change faces some resistance at first.
Digital transformation in recruitment is no exception. However, the positive impact of digital transformation in the business has the upper hand. Evidently, it tends to be a major threat to those who want to stick to their old techniques in recruitment.
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