Since the genesis of technology, its impact on our day-to-day lives has been gradually increasing. Today, we observe its long-term impact as we revamp and alter business processes all around the world. The recruitment sector is no exception.
An organisation’s success and quality are only as good as its employees. According to a Harvard Business Review survey, 71 percent of CEOs feel human capital is the most significant aspect in creating long-term economic value, and 43 percent say investing in people is high priority at their companies. This, among many other things, plays a significant role in the ever-changing nature of the recruiting sector, as hiring managers are actively looking for innovative ways to retain and hire the best personnel.
However, since the dawn of the pandemic, talent acquisition professionals have been facing the repercussions. They are still recovering from the industry-wide effects of the COVID-19 crisis. The worldwide health emergency damaged various businesses, forcing many to either burn out or adapt to survive. The recruitment sector has since evolved by implementing innovative technologies to improve productivity, processing, and overall functioning.
Despite the efforts, there are challenges that need to be addressed to optimise this transition. With the number of candidates applying for their desired jobs rapidly increasing, employers usually feel the pressure in accommodating this volume. This gives rise to the need to boost resources, which can be achieved by accelerating the functioning of singular departments. The traditional way of recruiting had certain drawbacks, such as documenting and processing candidate profiles at large scale. Needless to mention, the selection of quality candidates manually becomes a very exhausting and time-consuming task. This results in the need for an effective and structured recruitment process. Another problem faced is the lack of centralised visibility and coordination between departments when managing assessment processes. Lastly, the demand for an in-person assessment is a challenge that needs to be addressed through unbiased solutions with the help of technology.
The key to resolving the challenges faced by the recruitment sector is a data-driven approach. In addition, end-to-end recruitment solutions unlock the potential for organisations to proactively source a robust talent pool and improve the overall recruitment process. One of the most essential features is that they can help match suitable candidates for the job. End-to-end recruitment solution brings the benefits of vast content with a cutting-edge platform set to reshape campus onboarding and recruitment intelligence.
This incorporates AI-powered predictive analytics with actionable insights. The advantages of data generated by AI-powered platforms extend beyond the recruitment process and help forecast and track employee performance, demands, and retention rates. The ability to develop and adapt from an operational activity is a critical factor for assuring any organisation's long-term success. The AI analytics-based solution combines the three critical steps that deliver perfect assessments.
- Selecting and Hiring: Holding group discussions and online interviews, generating analytics (reports and dashboards), finalisation, and registration/verification
- Candidate administration: Vacancy generation, candidate enrolment, skill identification, JD posting, scheduling & booking, and candidate shortlisting
- Assessment modules: Remote or on-campus proctoring, question bank administration, and multi-domain topic expertise
The extracted data is not only restricted to the recruitment current process but also includes predictions for the next recruitment cycle. The approach that end-to-end assessments bring is futuristic and can be used to optimise the talent pool and boost hiring processes to maintain success.
A comprehensive assessment environment that may bring together the scattered pieces involved in the hiring process has been absent so far. Thus, a next-generation technology-led end-to-end assessment revolution will allow organisations to develop an efficient workforce, improve the quality of decision-making processes, and play a crucial role in the formation of new business processes and ideas.
The article has been written by Sujatha Kumaraswamy, CEO, MeritTrac