Recruitment Trends During and After COVID-19
The global pandemic continues to take a toll on the world economy. In a span of a few months, it has successfully reshaped and disrupted a lot of sectors.
Several industries face uncertainties as the COVID-19 pandemic continues to affect a number of countries. Unfortunately, the issue has prompted some businesses to close their doors to their customers and let go of their employees. Millions of professionals got laid off in Asia. The same trend was also observed in other parts of the globe.
On the other hand, capable and in-demand businesses such as those in financial technology, supply, and procurement and logistics niches are ramping up their operations to meet the growing market demand. These sectors continue to grow – and in need of qualified talents as part of their expansion.
Recruiters from all around the globe, especially from these businesses, can agree that the old ways of doing business will definitely take a backseat to a new normal. So, what are the expected recruitment trends during and after COVID-19? What can managers, candidates, and business owners do to cope and continue to fill their vacancies with the right people?
Trends in recruitment during and after COVID-19
It’s inevitably harder for recruiters and HR managers to find, qualify, and screen candidates because many countries enforce tight community quarantine measures. To cope with the changes, companies have to make a few adjustments to their hiring process. Thanks to the power of technology, most businesses nowadays choose to conduct their interviews online while others maximize the use of digital platforms to look for talents.
Shifting to online interviews
Due to serious health risks, face to face screening and interactions with candidates became limited. To get around this issue, hiring employers to utilize different applications to facilitate remote interviews and assessments to pre-screen applicants.
At present, the majority of recruitment specialists schedule video interviews to qualify candidates through different technology applications. Some of the most common apps used by companies to converse with applicants during an online interview include:
Forbes notes that in addition to communication apps, businesses also make use of other tech solutions such as talent/candidate management software and recording apps during virtual candidate screening. These technologies are essential to monitoring the progress of the screening process, especially in large-scale companies.
There are also a number of organizations that utilize pre-recorded interviews. This strategy is mostly used in the early stage of the screening procedure. In this setup, applicants receive pre-recorded videos of the recruiter asking the interview questions. The applicant will, in turn, film herself or himself while answering the set of questions.
Giving more focus on digital platforms
Thousands of companies have been using online recruitment to fill job vacancies long before the pandemic began. It will definitely become the new normal even in the next few years. And there’s a lot of good reasons why companies will take full advantage of it because it is cost-effective and flexible whereas applicants are expected to embrace this trend too.
Talents can maximize the use of social media platforms when looking for a job. They can reach out and connect with HR professionals, managers, and directors via online channels such as LinkedIn, job posting sites, and social media groups. They can also look for potential vacancies without leaving the comfort and safety of their home.
Finding ways to establish rapport via digital interactions
With all the new technology trends, establishing a solid rapport between applicants and recruiters is essential to ensuring the success of a recruitment process. Nicole Nelson from TimetoHire.com emphasizes on her article that hiring managers and recruitment professionals should pay attention to their candidates and take the time to make genuine connections. This will help increase engagement and pique the interest of the candidate.
Given the digitization of the hiring process, it’s also a good practice to help candidates understand how the whole process works. Walk them through the technologies used by the company, guide them with enough information and provide room for interaction.
More importantly, engage with these individuals. Read through their discussions online and join them if you have something to share. Leverage that as an opportunity to deliver value and get attention for what you do best.
For professionals who were displaced due to the economic turmoil, this is the perfect time to grow your virtual network and grow your online presence. It’s also high time for you to update your CV and online profiles. Connect with people within your network and expand your reach to their network of professionals.
Key takeaways: Recruitment Trends this 2020
The recruitment trends during and after COVID-19 shows a glimmer of hope to both companies looking to expand and candidates seeking new career paths. Surely, these changes in the process will cause a lot of struggle and confusion at first. But, as the world eases into the new normal, both hiring companies and candidates will be able to adjust and learn the ropes. Digitization of many crucial recruitment processes will surely reach its peak even after the pandemic settles down, but at this point, keep in mind that there are professionals that can help and guide you through.
Are you looking for potential fintech job opportunities that suit your industry experience and job preferences? Or a hiring company that needs to fill in your vacancies? Our specialist fintech recruiters here in Datasearch Consulting can help. Talk to us today!
Phoebe Lagasca is an Associate at Datasearch Consulting, a leading executive recruitment firm specialising in the Financial Technology & Data sectors.
You can download their FREE comprehensive guide on “The Complete Guide to Hiring Fintech & Data Talent – 5 Proven Steps to Secure your Ideal Fintech or Data Role”.Alternatively, you can view the Datasearch Consulting website or contact them directly on firstname.lastname@example.org for a more detailed discussion.