HomeStaffingPrime recruitment traits for 2024

Prime recruitment traits for 2024


Top recruitment trends webinar recap

Yearly, Bullhorn surveys international recruitment professionals to search out out their prime priorities, challenges, and predictions for the yr forward and publishes the ends in the annual GRID Trade Tendencies Report.

The next are a few of the key findings, together with suggestions for the best way to act on these insights. Hearken to the Prime Recruitment Tendencies 2024 webinar for the total dialogue.

Most corporations categorical cautious optimism about 2024

2023 was a troublesome yr, with rather less than half of staffing corporations reporting income progress — down from 68% in 2022. Despite that, practically two-thirds of corporations predict they are going to see income progress in 2024. Multiple-third count on progress of greater than 10%. 

Heading into 2024, most listing gaining new clients and rising placement volumes as their key priorities. Macroeconomic uncertainty, hiring freezes, and the continuing expertise scarcity prime the listing of challenges corporations face — adopted carefully by a rising concern about competitors from gig and freelance platforms.

In a good income yr, profitable corporations relied on know-how to drive productiveness and effectivity

65% of corporations that noticed income progress in 2023 positioned candidates in lower than 20 days—and this was largely true throughout areas and verticals. These corporations achieved this degree of effectivity partially by automating key duties like candidate screening and candidate consumption.

In truth, top-performing corporations have been 2.4 occasions as more likely to have automated gathering consumer necessities. Total, corporations that noticed essentially the most income progress have been round 30% extra more likely to have automated top-of-funnel actions to drive candidates via the method quicker and in the end drive extra placements.

Placing it into observe

Optimizing your expertise funnel begins with capturing dependable knowledge and making it readily accessible throughout the group. 50% of corporations say they don’t belief the validity of their knowledge for making choices. To appreciate the productiveness and effectivity advantages of automation, corporations must seize dependable, standardized knowledge from the start and centralize that knowledge. 

As soon as that basis is laid, corporations can actually unleash automation to drive productiveness. Actual-time knowledge and analytics might be accessible on a self-service foundation to trace productiveness and unlock efficiencies. And AI might be utilized to deal with low-value, repetitive duties, streamlining workflows. This adjustment can provide recruiters again time whereas concurrently decreasing the potential for human error.

Profitable corporations are addressing the expertise scarcity head-on

43% of corporations cite the continuing expertise scarcity as a prime problem for his or her enterprise. Nonetheless, essentially the most profitable corporations are investing in know-how to enhance the candidate expertise via tailor-made engagement and outreach, higher search and match, and quicker conversion charges. They’re 50% extra more likely to say they’ll depend on their databases and are utilizing analytics to raised perceive job classifications and expertise swimming pools. 

Placing it into observe

Figuring out and plugging gaps in candidate knowledge makes it doable for recruiters to reap the benefits of automated sourcing instruments that may enhance job matching and velocity up the position course of. This “database-first mindset” permits your workforce to simply and rapidly search throughout all candidate sources or reap the benefits of AI to deal with the preliminary seek for candidates with out fearing missed alternatives. Proper now, 70% of placements are sometimes made with candidates sourced exterior of the agency’s database — and 66% of these externally-sourced candidates already existed inside the database, creating a totally pointless delay and duplication of effort.

Moreover, corporations ought to concentrate on mapping out a communication technique to optimize candidate engagement. Automation can monitor and immediate candidate communication to make sure there’s constant communication, in addition to tailoring communication channels in keeping with candidate preferences. Corporations that don’t automate sometimes solely interact with about 10% of the candidates of their database, leaving an enormous missed alternative. And Bullhorn’s GRID 2023 Expertise Report discovered that frequent communication is a major driver of candidate loyalty.

Some corporations had success at profitable new enterprise in 2023 regardless of the financial system 

Some corporations have been in a position to proceed attracting internet new shoppers even because the staffing trade slowed down significantly in 2023. What did they do otherwise? 

In line with the concentrate on productiveness and effectivity, these corporations have been in a position to spend much less time supporting present shoppers and extra time buying and nurturing new ones — 70% of those corporations mentioned their recruiters spend lower than 50% of their time working with current shoppers. This isn’t as a result of they’re neglecting them, it’s as a result of they’ve automated their workflows to permit them to supply glorious service and worth with much less human effort. The corporations that have been essentially the most profitable at profitable new enterprise have been thrice as more likely to supply self-service instruments to shoppers and candidates. They usually have been 44% extra more likely to have automated new lead engagement, serving to recruiters focus their efforts on the perfect, most viable leads.

Placing it into observe

Centralizing and cleansing up the database makes it simpler to serve up knowledge and insights that assist recruiting and gross sales see the best way to make an influence quick. They’ll see who might be redeployed, which jobs haven’t any exercise, and which leads haven’t any calls. Automation can seek for job leads within the background, solely notifying workforce members when it’s the finest time to take motion, bettering gross sales percentages and limiting wasted effort.

AI adoption and funding was linked to income progress

This yr’s GRID Trade Tendencies Report confirmed a powerful correlation between these corporations which might be investing in AI instruments and people who noticed income progress in 2023. They have been considerably extra more likely to be experimenting with AI for duties like shift scheduling, onboarding, and gathering consumer necessities. Interviews with Bullhorn clients made it clear that the easiest way to allow recruiters to reap the benefits of AI instruments is to have them embedded straight within the ATS. 

The info and automation methods mentioned listed below are all essential to laying the inspiration for a profitable AI technique.

 

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