Future of Recruitment Industry in 2022-23
The recruitment industry is not a small industry to talk about. It is a huge industry where people who need people to work for them recruit others and people who need work to do or need employment, apply for the recruitment to get jobs. In other and simple words, the recruitment industry is the initiative where businessmen or other people recruit candidates for their work.
The recruitment industry has changed greatly in the past and will continue to change in the future. But because of this era of digital technologies, it is for sure that within 2-3 years, the recruitment industry will see one of the biggest uprisings in their field. Here in this article, we have explained some points on what can be the future view of the recruitment industry in 2022-23.
Recruiting process will be done through new advanced technologies and algorithm
When we are predicting the future of the recruitment industry we can not ignore or exclude the importance of the development of internet algorithms and technologies. These algorithms and technologies will bring tremendous changes to the recruitment process. It will make the hiring process fast as you do not have to go through the thousands of resumes or CVs to find the right candidate for your job. The advanced algorithm will do everything for you and will prove the best candidate as per your requirements.
Recruitment process will get easy and accurate
With the use of technology and ATS, now hiring is not just about ticking boxes or following a step-by-step guide. Yes, at its core, it's just publishing a job ad, screening resumes and providing a shortlist of good candidates – but overall, hiring is closer to a business function that's critical for the entire organization's success and health. After all, your company is nothing without its people, and it's your job to find and hire stellar performers who can make your business thrive.
Be compliant throughout the recruitment process and ensure you're looking after candidates data in the correct ways.
New job will emerge hence new skills will be required
Future generations are currently facing the frustration of preparing for careers that could not even exist yet. Selecting a college major is difficult enough without adding the possibility that many of the jobs in specific fields will soon be eliminated due to technology. Experts estimate that 65-percent of kids in the next generation will have jobs that are not even created yet.
In addition to seeing new jobs in the future, many old jobs will also be obsoleted, being replaced by robots or software automation. Although the idea of losing a job to a robot is unsettling, not every professional is affected. A recent article from The Economist reviewed the probability of certain jobs remaining the future, many of which are high-paying. The most likely to be eliminated include, accountants/auditors, telemarketers, technical writers, word processors, real estate agents and retail salespersons.
Transparency
Recruitment transparency provides a vital hiring insight for potential candidates. Sharing information freely provides valuable transparency between candidate and employer. The clued-up candidate wants to know the full ins and out of the recruitment process.
Improved hiring quality (AI assistance)
Talent acquisition leaders rate quality of hire as the most valuable KPI for their recruiting teams. On a fundamental level, what we all want to know is: Is my recruiting process actually selecting the right talent?
According to LinkedIn, 40% of companies worldview rank it as their top priority. A recent survey found that while speed was the metric used to measure recruiting success currently, quality was the metric most desired to be used in the future.
Quality of hire is defined as the value a new hire adds to your company. Specifically, how much a new hire contributes to your company's long term success.
Based on its definition, it's obvious why quality of hire is considered such a priority. But quality of hire is also the most difficult recruiting metric to measure and assess. One reason is that it often involves a time delay of several months to even years to prove out. This means investing in improving quality of hire requires a long-term commitment.
Conclusions
So, now hopefully, you must have guessed how much the recruitment industry is going to change in the coming future. It is not only the recruitment industry that is going to be changed, every industry will be affected by the revolution of internet technologies and Algorithms. So yes, in future years the recruitment industry is going to witness huge changes.
