Are you prepared for the coming changes in the labour market?
All indications are that we are witnessing a gigantic social revolution – including in the labour market. Since 2012, we have been dealing with an employee market. It is employers who in recent years have been outdoing themselves in attracting the best, most talented employees by giving them more and more additional benefits. As a consequence, it was increasingly possible to observe that candidates presented a ‘lax’ attitude to recruitment processes and to the documents they signed (it was common to see posts on LinkedIn about people who had signed contracts changing their decision and not showing up for work).
How will the current crisis affect the labour market?
The economic crisis resulting from the announcement of the COVID-19 pandemic could lead to up to 25 million people worldwide losing their jobs, according to estimates by the International Labour Organisation. We are already seeing massive layoffs in the hotel, tourism and catering industries, and other industries are more than likely to follow. The entirety of these changes will most likely result in the labour market changing to an employer’s market, with the result that many talented people who have become economic (not somatic) victims of the coronavirus will enter the market. Thus, those companies that continue to recruit will have the opportunity to select an employee from a larger pool of available candidates. In addition, the current remote working situation will give us the experience that numerous processes (including recruitment processes) can be carried out online and this does not affect their efficiency at all, moreover, it may even have a more favourable impact on the cost level. Therefore, the question arises:
What tools can we use to carry out online recruitment process effectively (in terms of both results and costs)?
The answer to this question is all the more pertinent if we consider that the average cost of making a wrong choice of candidate in various European studies is estimated to be around €15,000.
There are a number of steps that need to be taken to ensure success in an ongoing online recruitment process. What are these steps?What should we do? What tools in online recruitment can we use?
1. Identify the purpose of the position
What are the profitability and business benefits? What will happen in the organisation (given the stated strategy) if this position is not there? The answer to t becurrent times will also be a strong verifier of the legitimacy of many posts – their need to exist in the organisation. It is therefore vitally important to ask the question – why is this position in the organisation? How will it contribute to profitability and business benefits? What will happen in the organisation (given the set strategy) if this position does not exist? Answering these questions will then help to define the expected candidate profile.
2. Define the candidate profile (personality, competence, qualification)
Think about what personality profile and competencies the candidate should have in order to match your organisational requirements, i.e. to fit in with the team, with the challenges of the position. Only then define the level of qualification the candidate should have.
3. Choose objectivised methods to assess the defined profile.
These days, there has been an accelerated digtalization of various areas – most notably recruitment. Probably a consequence of this will also be an increased reliance on various methods that make it possible to reliably and accurately verify a candidate’s fit with our organisational requirements. One such tool is Ostendi Talent Hunter, which is the only tool available on the market that safeguards the interests of the recruiter in terms of the RODO, enables us to define the expected profile and then match it with the candidate’s profile. In this way (in addition to a comprehensive description of the candidate’s performance in various important business areas), we receive information on how well the candidate will fit into our organisational requirements. On the one hand, the use of this type of tool is easy and quick, and it also reduces the likelihood of making the wrong recruitment decision.
Additional tools that we can use are, for example, tests that check the candidate’s learning ability in a broad sense or knowledge tests that review the candidate’s existing knowledge.
Remember, however, to also consider the prospect of the candidate’s resilience when choosing appropriate tools.
The use of such tools increases the likelihood of a good decision being made – especially in a situation where recruitment is only conducted online. Looking at the current market situation, it is likely that this form of recruitment will stay with us for longer – thus, as recruiters, we need to be equipped with the right tools to support us in our decisions.
Author: Bożena Roczniak
If you would like to find out more about our Ostendi Talent Hunter tool or other tools that can support you in your online recruitment process – please contact us and we will be happy to answer all your questions and concerns (Bożena Roczniak firstname.lastname@example.org +48 603 070 918).