With the unemployment rate sitting at a steady low, many companies in the US are no longer able to rely solely on incoming applications to fill their roles. There’s more pressure to be proactive in your hiring efforts than ever before, especially if you want to source the best talent.
While proactive hiring may sound like a lot of work for talent acquisition pros, the good news is new trends are arising that can help them cut their workloads, keep costs down, and still see results.
Here’s a quick survey of the latest trends shaping the online recruitment market and helping you make hires:
1. Let AI Do the Work for You
Artificial intelligence (AI) has been a hot topic in recruitment over the past few years, but it’s now more important than ever. AI is helping time-poor organizations make their hiring processes much more efficient, allowing them to source top talent without shunting aside equally important business functions.
For example, instead of scouring multiple databases for candidates, Boolean-builder technology can do the work for you. In addition, predictive models help employers understand candidate behaviors and identify the jobs they may apply to next. This allows recruiters to target strategically with relevant roles candidates who are likely to make a move soon.
2. Modern Pricing Strategies
When it comes to recruiting tools, return on investment is crucial. We’re all too aware of the impact a bad hire can have on your bottom line. You don’t want to exacerbate the costs of a bad hire by spending money on recruitment technologies that offer little bang for your buck.
Luckily, the providers of recruiting tools have recognized this, and many are offering creative pricing models. Job boards like Indeed and Resume-Library (my own job board) use subscription and pay-per contact models to encourage users to get the most out of their platforms. In the future, pricing models are likely to become even more customized as job boards develop ways to charge different prices according to job level, industry, and other factors. These pricing models allow employers to invest only in tools that produce real-time results for them.
3. Multiplatform Integration
Another key trend is the integration of job boards with other providers, such as ATSs. These integrations allow employers to instantly deepen their talent pools by connecting multiple resume databases to their ATSs. This means recruiters don’t have to conduct separate searches on separate job boards. Instead, they can search for talent across databases all in their ATS — a massive time saver.
Currently, many companies lose applications at their ATSs’ landing pages, which don’t always integrate with the job boards directing candidates to apply. An integration between ATS landing pages and job boards can be incredibly convenient for candidates, allowing them to pre-populate fields based on their job board profiles, rather than re-entering their information. This improves the overall candidate experience and helps convert more interested job seekers into applicants.
4. Better Matches Through Partner Programs
Another trend we’re seeing is more and more job boards and career platforms partnering up. Companies that own resume data are waking up to the potential of monetizing their databases even further. While these partnerships may be motivated by increased profitability, they can also result in a more optimized recruiting process for employers.
For example, ATSs and career platforms that partner with job boards can give their customers access to larger talent pools. Similarly, job boards can proactively match candidates in their databases with jobs being distributed through partner ATSs. In either case, recruiters have more talent coming right to them.
As long as the unemployment rate stays low, it’s only going to get harder to find and attract top talent. In order to stay ahead, employers must optimize their recruitment processes and embrace the technologies and trends shaping the future of hiring.
Lee Biggins is the founder and CEO of Resume-Library.