We are witnessing interesting time; the unemployment rates globally are touching double digits, we also have the largest swath of “educated” but unemployable workforce and yet we have most intense competition for talent. The competition also has unevenness where some best employers have deluge of candidates and not-so-well-known employers have draught of candidate application. This hyper and uneven competition is getting further fueled by significant investments in the start-up ecosystems across the world.
What does it mean for the recruitment/ TA community?
The questions to answer for the recruiters are that they must be effective in job marketing on multiple channels, partner with right sources of supply, process the supply super quickly and be effective and timely in converting interested candidates? But the mother of all questions that remains is, to understand what kind of candidate does the CEO want with what are the real measurable attributes of the candidate such that all of above questions can be answered adequately.
We need set of AI tools to be able to perform CEO/ Hiring manager’s talent intuitions on the fly and reliably. Once that it is in place and works reliably, the recruiters should be able to
- Fire job marketing engines confidently and on multiple channels.
- Make job application as pleasant and surprising simple for interested candidates.
- Evaluate the supply with help of AI tools and get back to interested candidates so quick that they feel respected and valued.
A jobseeker is available in the market for a maximum period of six months. So if you are sifting and fumbling through the supply with back-and-forth with Hiring manager, you run a risk of losing out to competition as well as on candidate interest in this window of time.
We know that a recruiter’s job is a tough one, tougher than even that of Sales people in the organization, as recruiters compete hard to satisfy very individualistic job selection criteria and value psychology of jobseekers in wide-open-competitive-world. Statistically, recruiters reach out to 30-40 candidates before they can get one candidate scheduled for interview.
Yet there is hope with new generation of AI tools to make it simpler.