Talent acquisition - Old methods Vs New methods
The world has been making great strides in every industry and talent acquisition has been no different. With newer marketing techniques in the digital spectrum, retailing at your fingertips and now hiring new talent virtually is also taking precedence over the more traditional methods of recruitment.
We are all aware that acquiring the right talent is a crucial aspect that can make or break your organization in the future. Modern methods of recruitment are being welcomed with open arms over the more primitive recruitment methods. The traditional recruitment process, while having had degrees of success in the past, is getting to be cumbersome and more complicated in the face of easier and updated methods for talent acquisition. A deeper look into the more traditional recruitment methods will show you that they have been less convenient and not as effective as the modern techniques that are gradually being employed by companies.
Traditional recruitment strategies
The heydays of traditional methods are long gone, but not without allowing companies in every sector to reap the benefits. Hiring in the IT sector via traditional methods had been fruitful at one time but not so much now. Here’s a brief mention of the hiring technique that was applied a few years ago.
Sourcing - The recruiter spent valuable time on job portals, sourcing and shortlisting candidates for a role. Typically one position could take about one week to a fortnight to fill.
Scheduling - Availability of both; the interviewer and the candidate had to be considered. This resulted in a lengthy and time consuming process.
Interview event - An entire day or two would be devoted to interviewing candidates.
Interview feedback - Like every other step, this too is a manual and time consuming process as the interviewer/company would have to revert with feedback to all interviewees.
And repeat until the position was filled. Did you know that for a ‘standard interview to selection’ process, the conversion ratio is 15:1?
The FloCareer way of talent acquisition – a.k.a the modern method
At FloCareer we recognize that in-order to improve and boost your talent acquisition strategy, an IT company has to have a proactive approach. To get the best talent for your company, your hiring process has to be strategized in a way that it is modern, methodical and effective. In order to do so, FloCareer helps you with the best modern methods and means that can be applied for an effective end result.
It is without a doubt that the newer methods need more planning before being executed but the benefits are numerous – time and cost saving are some of the biggest advantages of modern methods of talent acquisition. We help you conduct frictionless interviews with a quick turn-around-time of 48 hours, thereby reducing the duration and length of the hiring cycle. Our interview process is smooth and technology driven & brings down your hiring cost by 50%. Here are some statistics that will give you an insight into the market bend towards modern methods of recruitment:
- 68% talent acquisition professionals suggest that recruiting performance in the next five years can be improved by investing in new hiring technology.
- Most employers, 78%, are of the opinion that an Applicant Tracking System (ATS) makes talent hiring an easier process.
- Interview as a service
At FloCareer, we don’t just take a basic first round of interview, but we have our own in-house technical experts with cutting edge knowledge who are skilled in the required subject matter. They conduct the first round of technical interviews to assess the skills of the candidates which in turn ensures that you are matched with the right talent. Our experts are handpicked, capable and well-read in the desired technology for which your company would be hiring.
- Video interviewing
Hiring always has a cost to it, especially when you have a line-up of candidates from outside of town. This involves reimbursing them with their travel expense irrespective of whether the candidate has been selected or not. Imagine the cost if you had a dozen candidates traveling for an interview from a different city. Fast forward and here comes video interviewing – handy, effective and inexpensive. Additionally, video interviews can also pick up on subtle facial cues which can otherwise be missed. Also, in case of the availability of recording the interview, the interviewer can always go back to the interview before making their final decision. And most importantly, you can treat this as a first round without incurring the candidate’s travel expense and is quicker than having candidates travel to and fro.
- Hiring with Virtual Reality
Have you thought of hiring with the help of VR? Yes, some companies have especially designed VR headsets to engage with candidates on another level. Using VR will give your company the outlook of being an innovator and applying cutting edge technology. VR can be the next best thing in this coming decade to add to your recruitment practices. And at FloCareer we ensure that our customers get the right hires with the latest technology.
- AI - the new face of hiring
Artificial intelligence is already playing an important role when it comes to hiring new candidates and helping businesses find new talent. Today, talent acquisition issues are being solved with the help of artificial intelligence. Some of the tools used in AI for recruitment are:
- Chatbots - Quick and secure access to the right candidate, can guide them to the apt role. Chatbots are most effective when applied with a mass of the right talent & can save recruiters a lot of time.
- Sentiment Analysis - Where it can be used to accurately identify and understand the market along with assessing what employees think of their jobs.
- Talent re-assessing - When using a good and robust applicant tracking system, artificial intelligence can scan your records and shortlist prior candidates for relevant job openings.
- Making use of an Applicant tracking system
An ATS is specific in its tracking methodologies. It matches job openings with the right skills, resume parsing, job posting on social media when required and many more minute details that are overseen by an effective ATS, thereby speeding up your interview process.
In today’s day and age it can be seen that technology plays a very important role in talent acquisition. To acquire the right candidates, it is imperative that IT firms make the switch to more modern methods of recruitment. Our pool of highly talented interviewers are aptly equipped to help your organization reach your goal of hiring the right employees with the right skills - because our interviewers are as skilled and knowledgeable to provide you with the right, shortlisted candidates.