5 Employment Trends Every HR Should Watch Out For
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Recruitment, like every other aspect of modern day business, is undergoing a massive transformation to keep up with the technological evolution of the 21st century. Gone are the days when an applicant, after submitting a job application, had to wait in the dark for a long time before receiving a response. In today’s connected world, dedicated social media platforms as well as instant communication mediums have ensured that information is collected, collated, analyzed and relayed instantly to the stakeholders.
With each passing year, technological innovations are being introduced to redefine the process of recruitment. While the previous year saw the popularity of digital assessment software amongst corporates to identify prospective talents that suit the needs of the organization, 2018 is being pitched as the year when AI hits the HR manuals in a big way.
As we enter the business phase of this year, let’s take a look at the projected employment trends set to shape business employment in 2018
- Artificial Intelligence - Artificial Intelligence took the HR and recruitment world by storm last year, with a variety of AI driven recruitment solutions making their way to corporate boardrooms. By reducing human bias, optimizing operations and minimizing procedural delays, as well as providing a quantitative and analytical sneak-peek into a prospective candidate’s intellectual emotional quotient, AI driven products have revolutionized the way corporates recruit. As 2018 warms up, various AI-based virtual assistants such as chatbots and online assessment software are already being employed by companies to choose the right candidate.
- Applying via mobile - The world is increasingly becoming mobile first, and 2018 has already started witnessing HR departments of corporates all over the world trying to figure out how to increasingly incorporate mobile-based interactions and engagement activities within the recruitment process. Video interviews, conferences, etc are becoming an integral part of mobile recruiting. Furthermore, various apps have been launched that detect fraudulent practices, such as use of cue cards or seeking help from others, while conducting interviews on mobile. Additionally, the instant communication provided by mobiles will help to bring in more transparency and real-time information of application status being provided to prospective candidates, enhancing visibility.
- Industry specific growth - This year, jobs are expected to grow in healthcare, ed-tech, data analytics etc. Medical researchers, healthcare volunteers etc. are in great demand across the world, and prospective applicants in this sector can be assured of a diverse array of choices. Considering the rapid growth in e-commerce services, the logistical sector is also expected to offer an increasing number of jobs in transportation, vehicle tracking, last-mile delivery options etc. With the global economy on a steady revival mode, Indian IT industry can also look forward to a better year as compared to 2017 on the back of increasing spending and demands from client for tech-specific services.
- Micro-targeted jobs - The conventional job structure is fast proving to be ineffectual in defining diversified and dynamic job profiles, an essential feature of the modern economy. Companies are increasingly trying to identify roles for their employees that are a perfect amalgam of their abilities, passions as well as organizational requirements. Tech-based solutions are proving to be a big help in this regard, collating the entire preference chart of individual employees and then creating an ideal job portfolio that comprehensively utilizes every set of skills an individual possesses for the mutual advantage of the company and the resource.
- The Gig Economy - In an economy being increasingly dominated by independent professionals and freelancers who prefer the ‘working-with-rather-than-for’ structure, temporary positions are becoming much more common. Organizations are increasingly entering into contracts with independent workers for short-term engagements. This kind of arrangement works wonders for start-ups as it can pay on a per-project basis and does not involve significant contractual obligations. Although its effect on permanent, out-of-office work culture is still negligible in developing economies such as India, it has definitely made early inroads and has emerged as a viable, and even profitable alternative for bootstrapped start-ups or businesses looking to reduce the fixed operational costs involved with hiring permanent employees.
While the debate is still on about the impact of automation on global employment, its positive role in streamlining recruitment tasks, however, cannot be denied. By offering products that can carry out the recruitment process in a time-efficient, transparent and unbiased manner, it can motivate more talented resources to join the recruitment pool and help match ideal candidates to perfect job offers. With as much as 66% of millennials considering to leave their current jobs by 2020 according to a Glassdoor report, efficient recruitment tools are the need of the HouR.