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Recruiting in the Digital Age - 5 Recruitment Technologies That Are A Must-Have In 2023!

    Talent is a key strategic differentiator for any business in the present times. In fact, research suggests that differentiated talent accounts for 29% of the difference between high and low-performing companies when evaluated for revenue growth, profitability, customer loyalty, and employee engagement.

    Invariably, people with distinguished skill sets are in high demand and often plucked off the market in the blink of an eye. So, how do you keep up? Do you let the competitors take away the “creme de la crème" right from under your nose? Not really!

    Much like the investments and technologies that you deploy to attract, capture and retain customers, it’s absolutely imperative to put the same effort into attracting and engaging the top-tier talent the industry has to offer.

    In fact, leading companies are already much ahead in the journey with 44% of companies using publicly available data, such as social media profiles, to speed up recruitment. While the majority of companies are using some or the other recruitment technology, most of them are yet to set up an end-to-end technology-powered recruitment process. So, what does it really mean to truly recruit in the digital way, in the digital age?

    We have the answer. Here are 5 recruitment technologies that make the perfect recruitment arsenal for any business in 2023!

    Recruitment Technologies That Every Business Needs In 2023

    → Application Tracking System

    This one’s a no-brainer, right? In fact, 99% of Fortune companies (and probably yours too!) are already using Application Tracking Systems (ATS) to speed up and automate the hiring process. ATS is a complete package for HR teams to manage every part of the recruiting process, from job posting to onboarding, solving recruiters’ problems and challenges. It manages job postings, applications, candidate information and applicant communications, all through a single platform. Recruiting professionals already love them, with 86% of them actually admitting that ATS helps them hire faster and 78% saying that it has improved the quality of talent they hire.

    Graph of Benefits of Application Tracking System

    For the unacquainted, ATS primarily empowers recruitment teams for:

    • Candidate Discovery: Discover desired candidates by applying filters with strong candidate research and collecting data from various job portals.
    • Hiring Management: Define and customize the hiring workflows based on the requirements and create screening, interviewing and onboarding stages, making seamless candidate workflows.
    • Recruitment Analytics: Generate reports and analytics to provide insights into the recruitment process.

    So, your talent outreach is better, your application management is smoother and your progress monitoring is more transparent, all the way rendering to your HR teams to perform efficiently.

    → Recruitment Marketing Software

    The second module of the bundle is Recruitment Marketing Software (RMS). An ATS ensures that once a candidate enters your “recruitment zone”, they are handled with care and efficiency. However, you also need to ensure that the right people enter your “zone”. For that, you need to put efforts into outreach using recruitment marketing software – that helps you attract the top talent in the market.

    Different recruitment marketing software comes with a host of solutions. However, there are 4 key capabilities that you get from recruitment marketing software.

    • Talent Networks: Leverage talent networks to build pools of candidates that are relevant to your business needs to quickly source from for open positions.
    • Talent Matching: Identify best-fit candidates faster using auto-generated recommendations based on candidates' skills data.
    • Connected Career Sites: As an add-on solution, this software also allows you to build career sites that directly link to your ATS or CRM.
    • Email and Text Campaign Management: Send automated recruiting emails, schedule interviews, allow text-based active communication, conduct background checks, etc.
    • With this, your recruitment setup is ready to find and access the top talent available in the market.

    → Social Media Platforms

    Can’t forget the basics, can we? While leveraging ATS and RMS is required, to complete the recruitment tech setup, you also need to add relevant social media platforms into your arsenal. Defined recruitment objectives and an online brand presence on social media platforms can further boost your chances to attract the best of talent and build an exclusive talent pool – especially if you’re looking at younger talent. As a matter of fact, nearly 50% of GenZ and Millennials with work experience have applied for jobs on social media.

    However, when you add #socialmedia to your arsenal, you can’t be random about it. Right from finding the right platform to setting up a seamless application process from social channels, to make the best of social platforms, you need to use them strategically. Here are the must-have social media platforms and tools for your recruitment management tech stack.

    • LinkedIn: Hands down, the largest professional network site can amp up your recruiting like none other. From setting up a company page and putting efforts into employer branding to posting jobs and outreaching candidates through LinkedIn InMail, the platform offers a complete recruitment package.
    • Meta: While Facebook and Instagram are not dedicated professional networks, the sheer volume of users that they offer, expands your reach and lets you spread your net to capture the best talent meat in the market.
    • TikTok: Video content is ruling the world. So, it is only suitable to have a presence on a video social platform too. Brands like Chipotle and Intuit have a strong recruiting game on Tik-Tok where they create videos about roles, responsibilities and daily activities of employees to give a glimpse of their culture and work to prospective candidates. #YouCanDoItTo

    → Chatbot

    Another tool in your recruitment technology toolkit has to be a chatbot. Recruiting chatbots aid you in reaching out to candidates in various ways – from giving candidates a window to track their job process to giving them updates on the status of their applications and guiding them toward job profiles.

    While addressing the same, Vinita Venkatesh, the VP of Product Marketing at Mya Systems, gave a helpful insight. “Recruiters should look for intelligent assistants with the robust conversational abilities needed to build trust and confidence with candidates and deliver a seamless user experience. That trust, in turn, helps increase candidate engagement, completion rates, and conversion throughout the funnel.”

    If you’re looking for reasons to invest in a chatbot, the statistics below can serve as a good start. For those who’re still not convinced, we can assure you that candidates too expect you to utilize chatbots. One of the biggest causes of dissatisfaction for candidates is simply the lack of responsiveness from the recruitment manager. A chatbot sorts that for you while reducing the burden on your recruiting team.

    Statistics Showing How Chatbots Help In Recruitment

    The next question is - where does a chatbot in the recruitment process? Here’s where you can deploy a chatbot to handle your recruiting.

    • Administration: Chatbots can help complete administrative tasks such as collecting candidates’ information, answering FAQs and scheduling an interview.
    • Pre-Screening: A messaging chatbot easily lets you present pre-screening questions and pre-qualifier tests to candidates (replacing the traditional HR call!) so that you can filter out relevant candidates faster.
    • Alerts and Job Fairs: Chatbots can also help you automate job posting alerts to your talent networks and set up easy registrations for job fairs that you may organize.

    → Artificial Intelligence and Machine Learning

    The final trick up your recruitment sleeve has to be Artificial Intelligence and Machine Learning (AI/ML). Much like any other industry, recruiting too has not been left unscathed by the power of AI and ML. So, to grab the best talent, you also would have to count on the #AIEdge.

    However, it has to be done strategically. While discussing the role of AI-ML technologies in the recruiting process, Lauren Smith, the vice president at Gartner’s HR practice, said, "As organizations look to AI and machine learning to enhance their practices, there are two goals in mind. The first is how we drive more efficiently in the process. And second, is just recognizing that we can get better outcomes -- the effectiveness of our process can be better in a couple places."

    Here’s what AI and ML have to offer in recruiting:

    • AI Matching: AI/ML-powered algorithms help you analyze vast data and identify the top talent that matches your job requirements.
    • Predictive Analysis: The algorithms also learn from historical data to predict the candidate's success.
    • Automation: AI can facilitate automated interview scheduling and chatbot interactions for candidate engagement.

    To Sum Up

    If you’re really looking to revolutionize your recruitment with technology, you also need to take a pause strategically, look back on your existing recruitment tech stack and then replace it with the latest tools and techniques (aka the must-haves!) we just discussed. Not just that, just adding these technologies won’t change much – you also need to upskill your team to be able to leverage these technologies right!

    If you’re looking for some product recommendations on top recruitment technology, you can always check out these Top 5 Recruitment Technologies in the market! Hope you enjoyed the read.

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