Tomorrow's world

As a continued feature in this edition of CONNECT, we’ve picked a relevant story from a previous edition to include. This time, we’re investigate the consultant experience, exploring the current technology improving the recruitment process, and what the future holds for the sector.

There’s no denying the impact Industry 4.0, commonly referred to as the fourth industrial revolution, has had on a variety of professions, including the recruitment sector. Recruiters and candidates alike now rely on technology more than ever, and that reliance is only set to become ever-greater in the future.

Simply put, the fourth industrial revolution refers to the digital transformation that has allowed humans and machines to work more productively together. From the Internet of Things (IoT), to artificial intelligence (AI), it has helped streamline the recruitment process for both recruiters and candidates alike.

Recruiters are discovering that to attract the very best candidates, they must integrate and keep up with the rise of technology – especially with Industry 5.0 on the horizon. We wanted to investigate the current technology improving the recruitment process, and what the future holds for the sector, featuring insight from Tom Winslade, Enterprise Sales Consultant at cube19.

IN THE PUBLIC SPHERE

For generations, people have applied for jobs by handing in CVs and going for interviews. However, with the rise of technology, there is now much more information readily available online that recruiters can take into consideration, including a candidate’s social media presence.

According to a study by CareerBuilder, 70% of employers screen candidates on social media sites, such as Facebook, Twitter, and LinkedIn, before hiring them, to see how candidates are portraying themselves online. This can help determine whether a candidate will be a good cultural fit.

Video CVs are also increasingly being used by candidates to help them stand out from the crowd and get offered a face-to-face interview, while digital services such as Skype and FaceTime have saved recruiters a substantial amount of time in the candidate interviewing process.

REMOVING THE BIAS

More and more recruitment companies are implementing artificial intelligence technology to improve productivity in the shortlisting process. Not only is AI able to work much quicker than recruiters, but it also removes any unconscious bias, such as gender or race. 

Instead, AI helps recruiters find the best candidate according to whether their skills, qualifications and/or experience match up to what is required for the role. It can also be used to automate, for example, interview invites, or the unsuitability of a candidate for a role. 

Chatbots are also increasing in popularity, due to their ability to help carry out daily tasks, such as liaising with candidates to answer their questions and schedule interviews. One such example is Mya, a recruiting assistant that automates up to 75% of the recruitment process.

GOING GLOBAL

Gone are the days of recruiters posting adverts in the newspaper and applications being sent via the post. Technology hasn’t just made it easier to apply to jobs, it has also made it easier for businesses to find qualified candidates anywhere in the world – and vice versa.

Online platforms have made it much easier for recruiters and job seekers to connect directly, while the rise in technology has also widened the talent pool, as candidates can apply internationally, providing they are willing to relocate, or are able to work remotely.

What’s more, since the development of smartphones, those seeking new roles can and actively search for jobs on the go – 45%, daily, it has been reported. As a result, many recruitment agencies have optimised their website for the small screen or created specialised apps.

FASTER, SMARTER, BETTER

It’s difficult to comprehend the true power of data, but its value is already undeniable. Just last year, it was reported by The Economist as the world’s most valuable resource and many organisations are leveraging the opportunities in data analysis to propel business performance.

cube19 is one such growth analytics platform that is rising in popularity. Dedicated to the recruitment sector, it’s designed to support strategic board level decisions, analyse clients, manage job pipelines and optimise team performance.

“cube19 turns data into something visual, digestible and easy to action,” says Tom Winslade, Enterprise Sales Consultant. “In your personal lives, everybody has access to real-time information. Even if that’s as simple as using your phone to predict the weather and what to wear rather than looking out the window.”

“In business – particularly in recruitment – employees aren’t always able to access the information they need when they need, so decisions are often made on instinct or gut feeling. cube19 offers immediate and accessible insights into the performance of an organisation, enabling both employees and those in leadership to identify where they should be focusing their activity.”

“In your personal lives, everybody has access to real-time information. In business - particularly in recruitment - employees aren't always able to access the information they need when they need, so decisions are often made on instinct or gut feeling ”

As Winslade points out, having a platform that provides insightful information in real-time helps improve efficiency. “The recruitment industry loses a huge amount of time in manual reporting and working with outdated data.”

cube19 provides real-time, accessible data, to help recruiters manage their own time and prioritise their activity in the right places. “It helps managers understand where their processes might be falling down and allows them to identify how to train and educate consultants. Small incremental improvements in performance can have huge impacts in terms of both revenue and growth.”

Is the recruitment industry waking up the power of data? “Absolutely. The industry has been slow to adopt data in the past, but agencies are rapidly embracing the benefits that data insights can bring as a competitive advantage.”

And what does Winslade believe are the risks of not turning to data? “If you’re not supporting your growth and performance with data analytics, then I think you’re missing a huge opportunity and risk your business being left by the wayside by the competition that is.”

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While no one can predict the future, as we move into Industry 5.0, it is likely that the recruitment industry will become ever more reliant on technology, as recruiters utilise AI, machine learning and data analytics to improve performance and streamline the recruitment process.