Recently, the Federal Reserve decided to revise their interest rate for the first time since the financial crisis. They cited substantial job growth as the primary reason behind their decision. According to the Bureau of Labor Statistics, in December 2015, the payroll employment (nonfarm) increased by 292,000.
With the consistent economic growth, employers of all sizes across all industries continue to struggle with finding talented candidates to sustain their growth in the thriving economy.
The U.S. employment market is at peak (more or less), and this is why in this year, we will see more and more employers leveraging innovative products to empower their hiring process and fuel their growth with talented candidates.
Recruitment trends to watch for in 2016
In the current dynamic market, where the demand for talent is far more than the supply, how effectively organizations use innovative recruitment software should decide the failure or success of their recruitment strategy.
This year may be a bumpy ride for all those recruiters who aren’t ready for what is next.
Here are the top 2 trends that recruiters should watch for this year.
Recruitment software will go beyond the core ATS feature
Recent surveys suggest that around 70% recruiters are using some sort of Applicant Tracking System. The extensive use of ATS software is backed by two reasons –
- Applicant tracking is a prominent HRIS feature
- Applicant Tracking is essential for compliance with laws like OFCCP or EEOC
Recruitment is constantly growing more demanding and requires ATS software to function more like CRM system, and provide end-to-end recruitment solutions (which is exactly what True Talent offers).
Evolution of Sourcing
Sourcing is the biggest time suck for most of the recruiters. With sourcing getting more and more time consuming, the other side of the coin is that finding talented candidates has never been easier. The challenge here is not finding candidates, but rather engaging them properly. Why?
The answer is simple- if you can find a talented candidate, so can your competitor. This is what makes it difficult for you to make your candidates respond to your recruitment messages.
Today, the need for the evolution of sourcing is more than it ever was. 2016 is looking at sourcing technology with more a profound ability to find candidates from different channels so that recruiters can spend more time in engaging them.