Key takeaways
- Post-COVID there can be 4–5x more candidates for the same role — process must scale.
- Use AI for repetitive recruiting work, and social media to show your culture and reach talent.
- Virtual hiring is here to stay, improving fill times and the candidate experience.
Talent acquisition in a changed market
One of the unfortunate results of the first wave of lockdowns and shelter-in-place orders was the massive decline in labor demand; even with the measures being lifted, companies are still reluctant to hire full-time employees.
The world changed from a situation where organizations were fighting for resources amidst one of the lowest unemployment rates in recent history, to an abundance of resources post-COVID-19 — it is expected that for the same role, there could be more than 4 to 5 times more candidates available for consideration.
What can HR do?
For HR organizations at companies that are hiring, the talent acquisition process will need to change and adapt to accommodate the expected volume increase of applications as well as the safe-engagement requirements caused by the pandemic. At the same time, these same resources could be hard to get when the market stabilizes. Many smart companies are looking way beyond the COVID-19 situation, planning for the future and hiring the talent they know they will need post-COVID-19.
Virtual working
It is here to stay, so be a prepared offer and be ready to manage remote-working situations. Talent acquisition teams along with hiring managers should revamp job descriptions and job roles so they more accurately reflect your organization’s needs.
Use of technology
Consider how next-generation technologies such as artificial intelligence can help you with the recruiting and onboarding process. Leaving the repetitive, administrative work to the software can reduce discrepancies and free up your HR resources to focus on more value-adding endeavors.
Social recruiting
In the absence of office visits and facility tours, revisit social media to share information about your organization. Leverage video and visual content to describe your company’s work culture, future plans, career development activities, teamwork, and training. In the virtual world, social media is the best communication channel to show candidates your human side. Leverage it to proactively identify, attract, and hire high-potential candidates — reach out to your talent pool, tell them who you are as a company and about future opportunities post-COVID-19, and give them a glimpse of your corporate culture and values.
Virtual hiring
Virtual hiring is here to stay. Video interviewing is not new, but organizations now realize the power of connecting with candidates without the need for travel or the challenges caused by scheduling. This has made interviews digital — not only transparent and cost-effective but also often with a positive impact on fill times and the overall candidate experience to boot.