Understanding Recruitment Troubles and Trends
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The document summarizes the findings of a survey conducted by Talview to understand recruitment challenges from the employer's perspective. The key findings are: 1) Employers prefer a holistic evaluation of candidates and technical skills are most important. 2) Most employers use in-house hiring and managed recruiting is growing. 3) The primary challenge is sourcing quality candidates. 4) Video interviews and assessments are preferred screening tools. 5) Employers believe technology like AI and social recruiting will increasingly influence hiring but are unsure how.
Understanding Recruitment Troubles and Trends
- 1. UNDERSTANDING RECRUITMENT TROUBLES AND TRENDS RESEARCH FINDINGS FROM THE EMPLOYER’S PERSPECTIVE
- 2. TABLE OF CONTENTS Introduction Criteria to Hire Current Recruitment Models Challenges in Hiring Solutions Considered Future of Hiring Summary of Findings Research Methodology About Us Contact Us © 2016 Talview. All Rights Reserved.
- 3. INTRODUCTION • We undertook the survey to understand the bottlenecks faced by recruiters in the hiring process. Talview is committed toward improving the experience of both recruiters and candidates. The findings of the survey would be used by us to deliver solutions to the recruitment problems and challenges that the industry faces today. © 2016 Talview. All Rights Reserved.
- 4. CRITERIA TO HIRE • The respondents were asked to rate the criteria that they would consider most important while hiring candidates. • All the five criteria's had a rating of more than 3.5 on 5 • The research indicates that all respondents prefer a holistic evaluation of candidates 4.27 3.68 3.72 4.51 3.85 0.00 1.00 2.00 3.00 4.00 5.00 Technical Cognitive Behavioral Experience Qualification © 2016 Talview. All Rights Reserved.
- 5. CURRENT RECRUITMENT MODELS • The current trends show that 72% of the recruiters use in house hiring to source the best talent for their businesses • Smaller organizations in general had hiring manager sourced model • Managed Service/RPO is a small fraction today but many are considering this as an option Hiring Manager Sourced 11% In House 72% Managed Service/RPO 12% others 5% © 2016 Talview. All Rights Reserved.
- 6. CHALLENGES IN HIRING Quality Sourcing Retention Cost Time to Hire Screening 44% 10% 14% 22% 10% • Recruiters across sectors consider sourcing quality candidates as their primary challenge and this is also reflected in the importance they are attributing to social networks for hiring. • Issues like time to hire, and cost of hire are the other major challenges. © 2016 Talview. All Rights Reserved.
- 7. SOLUTIONS CONSIDERED • Recruiting through social media and Referral hiring are the major solutions that are considered by employers today for sourcing. • Online Video Interviews and Psychometric Assessments are the most preferred screening and selection techniques. © 2016 Talview. All Rights Reserved. 104 17 50 11 31 50 30 48 21 3 Social Media Recruiting Implementing an ATS Referral Hiring A Career Site Onboarding Solution Psychometric Assessments Online Tests Online Video Interviews RPO Others
- 8. FUTURE OF HIRING • As technology continues to evolve, it plays an increasingly important role in the way the companies approach talent search and the hiring process. • Options like Social Recruitment, Virtual Assessments and Interviews are seen as the future of hiring process • While recruiters think Artificial Intelligence & Machine Learning Recruiters are important they are unsure about how it can influence the way they recruit 0% 5% 10% 15% 20% 25% 30% 35% 40% Marketing for Quality Inbound Resume AI Technology Social and Professional Network Virtual Interview Others 14% 16% 36% 32% 2% © 2016 Talview. All Rights Reserved.
- 9. SUMMARY OF FINDINGS The research indicates that all respondents prefer a holistic evaluation of candidates Managed Service/RPO is a small fraction today but many are considering this as an option Recruiters across sectors consider sourcing quality candidates as their primary challenge Video Interviews and Psychometric Assessments are the most preferred screening and selection techniques While recruiters think Artificial Intelligence & Machine Learning Recruiters are important they are unsure about how it can influence the way they recruit © 2016 Talview. All Rights Reserved.
- 10. RESEARCH METHODOLOGY © 2016 Talview. All Rights Reserved. • This research was conducted between July and August 2016. A questionnaire consisting of issues related to hiring was sent to nearly 500 companies. • A total of 210 respondents supplied information relating to their organizations recruitment practices, the challenges faced by them in their hiring process, and the areas of improvements they are considering. • The findings of the survey are based on the data collected from the respondents
- 11. ABOUT US • Talview is a leading HR technology solution provider which leverages NLP, Machine Learning, Video Interviews and Psycholinguistics to build 3X better teams 4X faster. Talview globally have processed more than a million candidates till date. Talview as an innovative, nimble organization is in pursuit of disrupting the USD 500 billion global recruitment industry and to bring in efficiencies through the use of latest technologies. Talview identified a strong market need for a cognitive solution, which can improve the efficiency of hiring multi-fold and in the process help Talview to accelerate its fast growth further. • It is the world’s first hiring solution that harnesses the power of advanced data science and machine learning algorithms, video-audio analysis, social media analytics, psycholinguistics, speech recognition along with the experience of enabling three million video responses to help companies build better teams and gain competitive advantage. © 2016 Talview. All Rights Reserved.
- 12. © 2016 Talview. All Rights Reserved. Feel Free to Say Hi! We Are Friendly & Social 640 W, California Avenue Suite 210, Sunnyvale, CA 94086 +1-510-227-8227 | us@talview.com US www.talview.com 244, 17th Cross, Sector 6, HSR Layout, Bangalore - 560102 +91-80-67414716 | india@talview.com INDIA Level 9, Tampines Junction, 300 Tampines Avenue 5 +65 86-95-3364 | singapore@talview.com SINGAPORE