It was Anthony Klotz, associate professor of management at Texas A&M University, who first coined the term ‘The Great Resignation’. This is the theory that as we shift to the post-pandemic workplace, employees would rather leave their jobs than simply resume their typical 9-to-5s in the office.
The numbers have certainly proved this theory of mass attrition correct. In the US alone, a record 4 million employees quit their jobs in April 2021. Accordingly, by July there were a record 10.9 million job openings. Microsoft’s Work Trend Index found that 40% of the global workforce is considering leaving their employer right now. So this phenomenon is something that is affecting companies big and small across the world.
It isn’t as simple as workers not wanting to go to the office anymore. There are several contributing factors for so many choosing to quit. These decisions have been highly linked to the psychological effects of working through the pandemic. Work overload and burnout rose dramatically over the last 2 years. Others who had the opportunity to spend more time with family throughout are reevaluating their work-life priorities. And in a lot of cases, people are simply having their heads turned by better job offers.
This is obviously bad news for those organisations looking to retain their staff, but for recruiters searching for talent, it can be a huge advantage. It’s clear that there is an incredibly active job market for employers right now. Both active and passive job-seekers are on the lookout for better opportunities. So how do you boost your current hiring strategies, and how can AI hiring solutions help find the best talent?
Humans have a fundamental need for autonomy. Working from home has given many employees a greater sense of personal freedom. So asking them to give that up is a difficult task. For recruiters looking to attract or prise away talent from other employers, it is therefore essential to promote flexibility in work.
Flaunting your flexibility and focus on work-life balance is now the best weapon a hiring manager has in attracting new talent. And this doesn’t only translate into how the candidate will actually perform the job. It also needs to be represented through your hiring strategy.
Talent pools are bigger than ever, and most job-seekers are now using some kind of social media to look for jobs. Objectivity in hiring helps you screen candidates in instead of screening them out. Hence giving you larger access to talent and more diversified workforce which inturn helps attract more candidates who resonate with the values of inclusive and unbiased hiring, setting a positive cycle.
A thoughtful social recruiting strategy is now essential in widening and improving the quality of your talent pool. It’s also imperative to more easily reach those harder to locate passive candidates and using an intelligent tool to surface candidates effectively and efficiently is key to staying ahead of the hiring cycle.
X0PA’s AI Recruiter uses AI sourcing to allow companies to quickly and intelligently source the best fit candidates for roles. By integrating with third party providers, AI Recruiter can source candidates from more than 40 platforms including LinkedIn. Employers can therefore access more than 750 million profiles instantly. They can post jobs in over 3000 job portals and platforms across the globe without need for having individual subscriptions with them. Further using the AI screening helps identify and reach you desired talent in seconds.
By linking directly to a company’s Applicant Tracking System (ATS), best-fit candidates can be funnelled directly into their candidate pipeline. This allows for better engagement and analysis of candidates in both the short and long term. Hiring managers can also take advantage of patented predictive analytics to intelligently assess how candidate profiles might match with particular job roles and descriptions.
Utilizing automated candidate sourcing and AI-powered analytics not only gives far more access to millions of candidates. But also speeds the process of finding highest potential applicants and dramatically reduces cost per hire.
With the intensity of the job market at its peak right now and more and more vacancies becoming available. Employers cannot afford to wait around for the best candidates. However, the bright side for those looking to hire is that finding and screening candidates has never been easier or more streamlined with the right tools. Intelligent hiring solutions can help employers drastically widen the talent pool by meeting candidates where they are already active online. All of this can lead to faster and more cost effective hires, and greater candidate pipelines for hiring managers.
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