The COVID-19 pandemic has affected nearly every industry and business. Thus, the recruitment industry must make adjustments for the “next normal”. Agility is necessary for recruitment enterprises and job seekers to thrive as market trends change. Following is an overview of adjustments expected to occur in the job market, and the application process. 

Global Recruitment Industry Trends

Research and Markets, a reporting service, posted a report released by Globe Newswire. Some key takeaways from the report, which offers predictions for the global recruiting and staffing market for the period from the years 2020-2024 are as follows:

• Mergers and acquisitions will rise.
• Unemployment rates (post COVID-19) will decline.
• Mobile platforms and online job postings will become the primary methods of recruitment.
• Declining labor force participation and an aging workforce will weaken the pool of available candidates.
• North America is the fastest growing regional market due to the major players present in the U.S. market.
• Europe and the APAC are major players also, due to mergers and acquisitions between recruitment firms and companies from different sectors.

In 2019, in the United States, the staffing and recruiting market totaled 151.8 billion U.S. dollars, The market is predicted to decrease to 119.4 billion U.S. dollars, in 2020, due to the COVID-19 outbreak. But that won’t necessarily be the case if recruiters play their cards right. Some types of businesses won’t require a large workforce during the next year or two. But other industries will flourish in the altered conditions, and will be striving to hire skilled employees to keep their companies growing.

Making use of new technologies will enable recruiters to access and evaluate employee candidates from around the world, quickly and efficiently. Locating the right type of employees and hiring them promptly, will fuel success for recruiters and the companies they serve. Some useful new technologies and practices include:

• Artificial intelligence and natural language processing makes it simple to scan resumes.
• Predictive analytics provides recruiters with otherwise overlooked information.
• Acquihires, gaining valuable, experienced workers through the purchase of companies is a growing trend.
• Attention grabbing social media content, when carefully composed and designed to attract the proper type of job seeker can be a relatively inexpensive, often productive approach.

The Effects of COVID-19

Recruitics, an industry blog, points out ways the pandemic may affect recruitment. These include, factors such as:

• Avoidance of business travel when possible.
• An increase in workers fulfilling their roles from home offices.
• More workers may contemplate a career change, due to evolution of roles, and uncertainty about the jobs  in which they are currently enrolled.
• Some businesses may invoke hiring freezes to save money; conversely, others will experience greater success due to customer needs and behavioral changes.
• Interviews, hiring events and corporate conferences are all going virtual, as much as it’s practical.

How Are Recruiters Adjusting?

Recruiters will see their jobs change drastically over the next few years. Recruitment will become even more important, but recruiter roles and techniques for finding prospects will change. Already we are seeing recruiters tied to smartphones, computers, and other data devices. Better tools and the knowledge to utilize online options effectively will become an important key to success.

Recruiters will become more involved in business strategy, in order to better help each enterprise reach its specific hiring goals. Creativity in attracting the right candidates from around the world, particular to each position will be the focus.

How is the Candidate Evaluation Process Evolving?

This Forbes post covers recommendations for today’s job searches that will benefit both recruiters and candidates. Recommendations include finding fresh ways to stand out, like:

• Requesting a video interview, or sending a pre-recorded, professionally oriented video of introduction. Practice videoconferencing skills until you are proficient!
• Don’t apply everywhere. Focus on companies for which you believe your skills and interest make you a perfect fit.
• Don’t hold unrealistic salary expectations; show empathy for how COVID-19 may have affected the company.
• Be flexible; companies are changing procedures to keep up with other world changes. Job searchers must be open to new ways of working.
• Don’t panic, but don’t aim for just any position. We may be in a pandemic, but companies are still hiring. Remain optimistic and focused, and you will find a job for which you are suited.

These are challenging times for recruiters and job seekers worldwide. But great opportunities also exist. A hopeful future stretches in front of us.

At The Network we simplify global talent. Questions? Contact us.