The hunt for high-quality talent is a tricky and challenging process that generally requires a significant amount of effort and resources; that is why there will always be discussions on how to refine the process of recruitment and talent acquisition.
Thanks to the boom of technology in the recent years that spurred automation, we humans are having it a lot easier. There is no denying the many benefits of technology; after all, that is why the startup and tech scene is flourishing — people truly believe in improving the quality of life with technology.
Almost everyone is using some form of technology for their talent acquisition process/strategy, from something as basic as online job boards, to more technical tools, such as Applicant Tracking Systems (ATS).
In case you are still sceptical of the benefits of technology, here are 3 core reasons why you should invest in some for your recruitment strategy.
Finding the perfect candidate is no easy feat. All recruiters and hiring managers want to hire a person with not just the necessary skill(s), but also the appropriate experience and background that will make for a better fit.
Thanks to the ubiquity of the Internet, we are now more interconnected than ever. Most recruiters and hiring managers rely heavily on the vast network of LinkedIn for their search for candidates. Even so, the fear of missing out (on better candidates) will never be completely quelled. How will they know that they are not simply settling for less? How will they know if there are better options out there that they just have not discovered?
With the aid of technology, humans can now amass massive volume of data and information, and even analyse and aggregate them. The scale of the situation is one that humans would have never been able to manage without technology. Now, we have the ability to sift through stores of data and information with significant thoroughness.
In the case of recruitment, this means that recruiters and hiring managers are able to gather candidate leads on a far larger scale than before, empowering them with the thoroughness that allows them to make well-informed decisions.
Everyone knows that technology speeds up processes.
Take for instance, the search for talent. The advent of the Internet and online networks has helped to close up distance between people, allowing recruiters and hiring managers to search in more platforms and communities.
They say: “More haste, less speed”; making speedy decisions would increase the risk of human oversight. Without technology, being thorough would have been tedious because it would require conscientiousness. In the candidate search phase, having a good grasp of the options available allows recruiters and hiring managers to zoom in to their choice and come to a decision quickly.
They say that time equals money. Being able to speed up your talent acquisition process while still maintaining thoroughness and ensuring the quality of your hire makes it a cost-effective method.
If you are able to significantly reduce your time-to-hire, you will be able to onboard your new hire soon. If your new hire is indeed a good-quality hire — right attitude, exceptional skills, appropriate experience, etc. — then you are able to improve the company’s productivity sooner. All these factors ultimately come together to mean one thing: improving profitability.
So while some technology may be on the pricey side now, if you were to consider it for the long-term, your returns on investment would be a lot more.
The cost of hiring someone bad is so much greater than missing out on someone good.
— Joe Kraus, Google Ventures
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