The Indian job market is witnessing the aftermath of COVID with incredibly high churning. As per a report, a whopping 86% of employees are looking to change jobs in the next six months. Considering this figure, the current market scenario is only the tip of the iceberg.
The coming times are only going to get more challenging for recruiters. Without recruitment software, achieving a certain number of hires will be a tall order to fill. A recruitment management system can bring efficiencies into the hiring process, speed things up and give you a competitive edge.
What is Automated Recruiting?
Using automation in hiring means using technology to streamline processes and establish workflows. You can automate tasks like candidate sourcing, resume evaluation, engagement, video interviews, and scheduling to replace manual intervention.
Most of these tasks are repetitive and consume a majority of the recruiters’ time. As a result, they are unable to focus on the more meaningful aspects of their job.
With technology on their side, recruiters can engage with passive candidates, build better relationships with applicants, and study the market for hiring better talent.
Which Industries can Benefit from Automated Hiring?
Here are the industries that can benefit the most from automated hiring:
The Indian IT industry is witnessing an unprecedented boom. Companies intend to hire over two lakh employees by the end of this financial year. Without automation, achieving this number is next to impossible.
When a company is hiring in such high numbers, using hiring software becomes a necessity. Leveraging technology, recruiters can post vacancies to multiple job boards and automate first-step evaluation.
For instance, they can automate coding tests and psychometric evaluations for initial screening. These assessments can filter candidates who are a great job and cultural fit.
This gives an edge to recruiters as they do not have to manually screen every resume that comes in. Moreover, they can also automate scheduling interviews and save their time as well as that of hiring managers.
The best recruiting software in the market will also eliminate any hiring biases from the process and allow the company to hire a diverse workforce.
2. Banking and Financial Services
The financial sector in India saw exceptional growth in digital transactions. There has been an expansion in digital payments, and the use of AI, ML, and blockchain in the industry. As a result, there has been a 27% Y-O-Y growth in finance roles.
Talent acquisition software can help banks and NBFCs find qualified candidates. As the sector is also controlled by RBI, they can add the required filters to hire quality candidates that fit all the criteria.
By establishing workflows, recruiters can reduce their workload and automate scheduling and onboarding. With the help of hiring software, they can deliver an outstanding hiring experience and leave a positive impact on the applicants.
Healthcare has niche roles highly, and finding the best healthcare specialists can be challenging. With automation, recruiters can create targeted job advertisements.
Some software can identify the best spaces to post jobs and increase the reach of qualified candidates. AI programs can learn and post jobs in spaces that get more traction to give you a better ROI.
Secondly, automation can also help you, screen candidates, more efficiently. For instance, a simple keyword search can give you a better match between the JD and resume.
AI-based recruitment software has the capability to learn from the preferences of recruiters to show better results in the future. All these systems can free recruiters to focus more on learning about the business and identifying better avenues to find qualified candidates.
The hospitality and tourism industry is highly people-oriented. The success of any company in this sector depends on the quality of its staff. Everyone, right from managers to housekeeping to chefs to valets, works in tandem to deliver a five-star experience to the customers.
However, this industry also witnesses a higher turnover rate, posing unique challenges for recruiters. Hiring software enables recruiters to source the best quality applicants. They can post jobs on multiple channels, administer multiple checks apart from the face-to-face interviews, and hire faster.
Education is another sector that can benefit immensely from hiring software. Firstly, it can help standardize the quality of candidates across locations so that the institute can maintain its staff quality.
Secondly, institutes have some niche requirements. For instance, a college might require candidates applying for the job of assistant professor to have at least five journal publications. Recruitment software can help fulfill and check such prerequisites to optimize hiring.
With manual intervention, your hiring process is only as good as the person running it. When the person leaves, you might experience a downward shift in your process efficiency and candidate experience.
When you need a way to standardize and optimize your processes, automation can serve as a great medium to give you exceptional results.