The capabilities of recruiting software are changing rapidly, and HR Tech is alive and well in 2020. JobsPikr lists the 7 recruitment tools that can change the way HR teams can strategize and hire for positions accordingly. According to Crunchbase, by August 2018, the amount of VC money invested in recruiting software start-ups, in 2018 alone, crossed $600 million.
While exciting, the potential of these new technologies can become overwhelming. In 2019, Josh Bersin, industry analyst and founder of Bersin by Deloitte, revealed he is currently tracking “more than 1400 HR technology companies.”
With hundreds of recruiting software tools out there, how do you determine which ones are worth investing in? And before we move onto that, what exactly is HR tech or recruitment technology?
Recruitment technology is defined as a set of tools used to automate the hiring process, connecting with a variety of data sources to access the best quality candidates. It performs key functions such as screening applicants, streamlining follow-ups, and providing data on the efficiency of your recruitment model.
Over the last few years, the demand for job search software and tools has shot up dramatically as the labor market becomes fiercer and more complicated. Fortune Business Insights finds that the recruitment software market will cross $3,000 million by 2025.
Recruitment software doesn’t just help you complete the formalities around hiring a candidate. It automates the entire recruitment pipeline right from candidate sourcing and engagement to the final step of onboarding. That’s why it has become a staple for the modern HR toolkit.
So what job search tools are the future of modern-day recruitment? The best of the best tools for recruiters. Unless of course, a new set of cutting-edge technology disrupts this list.
Recruitment Tools – Marketing Platform
Recruitment marketing applies the principles of branding, marketing, and advertising to attract candidates (instead of customers). Gone are the days where talented candidates would seek out great companies to work with. The power of balance has shifted towards the recruit, alright. A company has to pull out all stops to woo top-of-the-line candidates.
A recruitment marketing platform brings together all these efforts under one umbrella, giving you greater control and visibility into the effectiveness of your recruitment efforts. This acts as an amplifier to sourcing tools for recruiters.
Freelancer Recruitment Tools
With the world shifting towards a more flexible work from home mandate, freelancing is the need of the hour. These tools follow a different recruitment cycle from permanent employees with a different payment schedule, separate contracts, and unique engagement needs. Also, hourly hiring is typically time-constrained, making these tools useful for recruiters.
The gig economy will thrive like never before in 2020, making it imperative to hire workers outside your direct payroll.
In many companies, onboarding continues to be a manual process with HR distributing a pile of forms, recruits going through the learning material, and a lengthy approval process involving various stakeholders. An onboarding software automates all of this, accelerating the recruit’s journey in your company and improving the employee experience from the get-go. It’s faster, smoother, and just more in tune with 2020. Oh also, a reliable onboarding process can improve retention by as much as 82%.
You know that time seems to move glacially and your patience wears thin when you are waiting for something with baited breath. You also know that sometimes you just want to know something about the company for which you don’t want to particularly disturb the HR. The answer to all the problems? A well programmed chatbot.
It is just one of those things that makes life a lot simpler. And faster. And better.
The Human in HR Tech
Talent acquisition software that is powered by state-of-the-art predictive analytics, lets you build deeper relationships with candidates. Contrary to popular belief. Further, the recruitment tools machine learning capabilities make it incrementally more useful with every hiring cycle. It is not just Robo-tech and purely mechanical. We have come a long, long way.
A robust recruitment tool should ideally have an endless list of integrations, supported by a robust network of partners. From internal systems like human resource information systems (HRIS), time and attendance, and scheduling tools to third-party software for background checks, candidate assessment, and tax compliance, it should be holistic and viable at every checkpoint.
Social Recruitment Tools
This is one is pretty self-explanatory. The first place your mind wonders when you need to post an opening is LinkedIn and/or Facebook. What’s wrong with that? Absolutely nothing. It is dependable. It works like a pretty tight referral system. Also, for a company to hold its grounds, it is paramount to have a strong social media presence to interact with potential candidates.
These free tools for recruiters are nothing short of revolutionary. It is a massive shift from what recruitment was. Even in 2010. Are we willing to integrate all these into our hiring efforts?
If the answer is a hesitant yes, might we remind you that we are, for all intents and purposes, only five years behind the age of flying cars?
And if that is our future, these tools don’t seem too big a step after all.