How companies are adapting their hiring strategies to choose the best candidate

It is quite challenging for businesses to recruit the right candidates in today's competitive market. In recent years, the recruitment process has undergone numerous changes in tune with the evolving challenges of a dynamic business landscape.

Organisations are increasingly using solutions driven by Artificial Intelligence to automate tasks, including sourcing, screening, assessing, interviewing, and onboarding. 

Technology simplifies the search by sourcing and screening the best candidates from social and professional networking sites and other sources based on their academic information, skill sets, and other characteristics.

In today's hyper-competitive environment, this becomes a critical tool for hiring the right talent within a short time window.

Talent war: a global phenomenon today

The current hiring volumes worldwide are unprecedented. With remote work becoming the norm, the global war for talent is no more restricted to domain and geography.

Far from a passing phase, this change is expected to continue well into the future. The unprecedented demand, coupled with the paradigm shift to remote hiring, poses multiple challenges to employers.

The demand for entry-level and campus talent has doubled in the aftermath of the pandemic. The stiff competition for talent, along with the challenges of remote hiring and sparse talent acquisition teams, is making it all the more difficult for employers to hire.

In the present scenario, the traditional recruitment method of sourcing, interviewing, and making the offer will not work. Companies need to adopt novel strategies to hire from the best talent pool. Here are a few measures employers can take to win the fight for exceptional talent.

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Upgrading their hiring toolkit

Employers are focusing to build seamless recruitment processes that help them hire at scale within a short time and also aid positive candidate experience.

In today’s candidate-dominated market, assessments are made available to candidates on-demand and delivered on any device. Similarly, asynchronous video interviews that allow candidates the flexibility to take the interview at their convenience are seeing a steady adoption.

Leveraging technology

AI-backed automation of hiring processes increases efficiency and saves time in hiring top talent. Employers are leveraging technology to find the ideal candidates from a pool of prospects.

Further, AI analytics provides objective data on candidates to assist recruiters in making the right hiring decisions. Automating the entire process results in a better onboarding experience, owing to effective post-offer engagement.

Build a talent pool

Building a talent pool is the first step, considering the increasing demand for talent. A ready pool of pre-assessed talent saves time by speeding up the hiring process. 

The candidates could further be trained by hosting training events and workshops to create a quality pipeline for the organisation.

With the inflated need for entry-level talent, employers will benefit from hiring and training employees to suit the needs of the job roles.

Build your employer brand

With remote processes taking over in-person interviews, hiring has become faceless today. Adapting to the present scenario, companies are focusing on building their brand to hire top talent through customised hiring platforms, virtual events, and hackathons. This, in turn, attracts top talent. 

Prioritise diversity and inclusion

Employers should also adopt diversity and inclusion as a core value to attract top talent. Expanding the talent pool to include candidates from diverse communities will bring in a whole bunch of benefits to the organisation.

Another focus area could be on establishing rehire programmes. This involves hiring experienced and skilled candidates with career breaks and hiring gig workers and freelancers on a contractual or seasonal basis.

In today’s competitive market, an organisation's capacity to recruit and retain talent is all the more critical. Further, employers — who invest in automation technologies to improve their recruitment processes — will have an edge over their competitors.

Data-driven analytics and intelligence in the recruitment process will continue to be the instruments of success in the ongoing war for talent.