Every recruitment agency wishes they had a crystal ball; if you knew what the future held, you could prepare for it better. But while we can’t tell you exactly what’s around the corner, there are certain talking points emerging in our industry that will shape the way recruitment evolves.
We’ve brought together the key trends your agency needs to know about in our new Future of Recruitment whitepaper, which is available to download now. Here are some of the main takeaways to whet your appetite:
Talent matching is getting an AI makeover
Across the business community, Artificial Intelligence (AI) is a major buzzword, and we’re starting to see some really interesting use cases in recruitment – particularly when it comes to matching the right candidates with interesting job opportunities.
New technology is being developed that utilises AI in the talent searching process, to automatically recommend suitable contractors for upcoming roles, based on keywords and experience contained in their CV.
One of the most interesting things about this approach is that AI is an iterative learning tool, which means it becomes smarter over time. Therefore, the more often recruitment agencies use it for candidate matching, the better it will become at producing effective results.
Candidates are back in the data driving seat
Tools like AI rely on access to comprehensive data, and an increasing level of legislation is being put in place to control how contractor information is stored and shared. This is tipping the balance of power in favour of candidates, who understand the value of their personal details and want greater authority on how, when and where they are used.
As a result, recruitment agencies are becoming the talent agents of the job market; negotiating between contractors and candidates to secure the best result for all parties. Technology will play a critical role in this relationship, as next generation security infrastructures like the blockchain will safeguard sensitive information, whilst enabling recruiters to make intelligent use of candidate data.
The real-time payment revolution
One of the biggest workplace changes in the last 10-15 years has been pace. Internet connectivity means companies are now accustomed to making and communicating decisions instantly, but recruitment operational processes aren’t always as responsive.
This is set to change with the introduction of new technologies that enable much quicker transactions, such as payments. We’ve already mentioned the power of the blockchain for data security, and it will play a valuable role in facilitating same-day payments for recruitment agencies and contractors as well.
Getting rid of cumbersome 30-day payment terms will lift a huge burden on recruiters’ cash flow, enabling you to invest in innovative technology solutions that enhance other parts of your business – from talent searching to back office management.
And by keeping up-to-date with the latest software, you can continuously improve the service you offer clients well into the future.
Download our Future of Recruitment whitepaper now for further insights into how our industry is changing, and what you can do to stay ahead of your competitors.