Amidst today’s economic uncertainty and increasing skills shortage, hiring activity has become more and more like a marketing: treat talents like customers.
The latest data from the Ministry of Manpower (MOM) revealed that the annual unemployment rate in 2017 touched 3.3 percent, with a rise in the median income growth to 5.3 percent as of June last year. On the one hand, these figures indicated that the labour market is showing hints of improvement, as less Singaporeans are jobless and retrenched. However, low unemployment rate also implies that employers might face challenge in the fiercer talent warfare to attract and obtain the best individuals.
Owing to this reason, no wonder that effective acquisition of talent and recruitment remains a top priority for companies this year. Keeping an eye on the latest news in the recruitment industry is the right strategy to help you adapt with the changing workforce. Below, we share 5 recruitment trends that will change the future of work you should look at in 2018:
1. Expansion of AI and automation
Artificial intelligence (AI) and automation are among most popular buzzwords echoing in the HR industry during 2017, and this trend will continue in the New Year. In 2018, this cutting-edge technology is expected to help make professional life easier.
Applying AI and automation in recruitment will greatly ease the job of hiring managers in sourcing and selecting candidates’ resumes, making schedules for tests and interviews, and even conducting the interviews itself. This technology helps employers qualify candidates based on their requirements, which speeds up the entire recruitment process, hiring becomes more efficient and productive.
2. The rise of remote working
More and more companies offer the option of remote working as one of their perks. The advancements of technology and internet has opened up opportunities for employees to work comfortably without leaving their homes. For example, with technology such as video conference call, you now can hold meetings with your team members even when they are in other parts of the world. The flexibility to work remotely and the freedom to set their own working hours are desirable perks favoured by the new generation of workers who aspire to achieve better work life balance.
3. Investment in social media recruiting
When was the last time you checked your company reviews and ratings on Glassdoor or Jobiness? The purpose of social media has gone beyond the tools to engage with your family and friends, as engaging candidates via social media has become a new norm. Companies need to invest more in social media strategies, recruitment marketing, and other social tools this year. Social media is an effective tool to introduce a brand and build a positive online image.
With more and more people spending their time on social media, it is natural for employers to take advantage of this phenomenon by posting and sharing job vacancies on their social media accounts. This way, not only will you attract those who are actively seeking for a job, but also passive candidates. In addition, your social media persona is also an important tool that will influence candidates’ opinion about your company.
4. Focus on candidate experience
Competitive battle for talents brings a good news for candidates, as it means they can be more selective in choosing companies that share the same culture and values with them. That being said, employers need to focus on engaging potential talents by improving the candidate experience.
Recent study revealed that slow feedback, poor communication during recruitment process, and too long decision-making process are Singaporeans’ biggest frustrations with job application. These findings underline the urgency for companies to pay more attention to their candidate experience, as most candidates said that they would not recommend a company as a potential employer and even withdraw their candidacy.
To prevent the risk of losing talents due to poor experience, employers need to extemporise their recruitment strategy. For example, the company can develop a platform where potential candidates can get updates about the status of their application or provide feedback on the recruitment process.
Relying on recruiter firms can also be a good option to ensure the recruitment process runs smoothly. Payroll Parking is Talentvis' latest product that will help you assist and assume the role of legal employer and payroll management of your future employees. Hence, you can save more time and focus on your core businesses.
5. Recruitment goes mobile
From the moment we wake up in the morning and go back to sleep at night, smart devices have become inseparable gadgets to humans. It is not surprising that recruiters have to go mobile to attract a wider pool of talents. Not only official websites, employers need to develop mobile-optimised career sites that allow talents to access updated information on job vacancies and also send job applications on-the-go.
In an effort to catch up to candidate expectations, Talentvis as a leading human resource consultancy has developed a one-stop job search portal app. With Talentvis mobile app, candidates just need to register their account and deposit their resume in the system. When applying for a job opening, almost effortlessly, candidates can do it with a single swap and wait till further notice about the status of their application process. Talentvis mobile app is now available on the Google Play Store. Download the app for free and stay in the loop!