How Technology Has Transformed The Manpower Business
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Technology has not only changing the way businesses happen but it has enhanced the speed of execution as well as overall scale of the business.
There are two ways in which technology has influenced manpower business:
Penetration of the internet
Internet revolution has brought a lot of information to people at their doorstep, more so in their handsets. As a result of which it has made people aware of a variety of opportunities which exist across the world for similar skill-sets. This has not only increased their chance of earning but it has also made people more informed. Many courses have entered the online market and people can enroll for these courses sitting in even remote locations. With the increase in spread of education it has increased job potential especially in the skilled and semi-skilled segment. People have shifted from pure hardcore resume formats to job portal registrations and now a step further to the professional networking concept. Portals have, all together, eradicated the difference between professional and job seekers as a result of which people have overcome the taboo which they psychologically faced as a job seeker when they registered on conventional job portals. On a networking portal all professionals are equal and they go there not only for better job opportunities but for professional opportunities beyond jobs like information, networking and business opportunities. This way technology has influenced the way people look at opportunities.
Technology has not only increased the number of opportunities but the way people explore these opportunities. Mobile application has made things much faster and easier. Universalhunt.com is working on the next level of mobile technology to infuse "professional dating" which will allow members to locate their network and request for immediate meetings. Technology like holographic mobile phones will change the way interviews happen and will drastically reduce the travelling cost for personal meetings
Sections like showcase and events on universalhunt.com are trying to revolutionise the way people look at job opportunities. We firmly believe that no one likes to change the job provided they can make maximum out of their current professional environment apart from job postings we enable members to showcase the products and services they can offer in their current situation. Our event section allows them to market and participate in any upcoming event, this will create more opportunities by increased commercial transactions in the form of buying and selling of products and services rather than changing jobs. As a networking portal we are trying to facilitate members in increasing their business transactions rather than just exposing them to job opportunities so that they can make the most out of their current environment. More and more such tools are developed to increase professional engagement amongst members. Technology is used to develop multiple tools to increase the overall skill set, increase opportunities including job opportunities, increase engagement techniques and also increase commercial transactions without job change to improve the life and lifestyle of people.
Method of hiring
Technology has increased the overall recruitment consulting business. With more and more online job portals and networking portals making their way at a global level with global members across countries, it has become easier for recruitment consultants to access global data. This makes it possible for recruitment consultants to cater to international clients and fulfil their need for manpower from any part of the world, giving rise to multi billion dollar RPO industry. Online portals which were initially viewed as competitors to offline consulting business have now become enablers and have helped in increasing the scale of the business as well as spread the concept of consulting in smaller locations which never had this business. Companies like UniversalHunt have now got over 10000 clientele in more than 80 countries and have already successfully placed thousands of candidates of various nationalities.
Technology has brought in enhanced systems and processes which helps in calling up of the business and data management. Applicant Tracking Systems (ATS) like Power Hunt has revolutionised the way consultants manage their business practices and the way corporates conduct their hiring process. Technologies like open source has made it possible to drastically reduce the pricing and make it affordable at all levels. SAAS model has brought the pricing extremely low and linked it to per month per user cost model making it affordable to even micro companies. ATS and recruitment softwares like CRM or ERP for manpower business covering all modules like attendance management, payroll management, interview management, on-boarding, invoicing, mail and sms management, resume parsing, performance and appraisal management. It comes with detailed multi layer analytics to monitor and improve the performance.Usage of ATS like Power Hunt and online networking portals by consultants for executive search, contract staffing and permanent recruitment has increased the size and scale of the ecosystem of manpower solutions. In one line I would say, "Technology has brought more people close to more opportunities making the world more learned, informed and progressive in nature. Merging of manpower networking portals with ecommerce possibilities will completely change the way people look at the word JOB. It will be obsolete and every one will start looking for professional opportunities within their current jobs. Technology will write a completely new chapter in the history of human civilisation with the best use of the information available for the goodness of mankind.