What does the state of 2020 recruitment look like?
Recruiting isn’t a one-size-fits-all game. We’ve been hearing all about the challenges of navigating today’s tight labor market. However, the demand for talent differs with each industry and recruiting strategies need to be tailored accordingly.
Let’s break down what Healthcare, Tech, Finance and Staffing industries are looking for in recruitment this year, and how the right recruitment technology can help.
Healthcare recruitment is a whole different ball game.
In 2020, healthcare staffing revenue is expected to grow by 4%, reaching a whopping $18.1 billion as medical providers ramp up their search for the most in-demand roles – registered nurses (RNs) and physicians.
At the end of 2019, the unemployment rate of RNs stood at 1.1% with 55% of the workforce older than 50 years of age. The demand for RNs in the US is however expected to grow from 3.4 million jobs to 4.15 million jobs within the year.
The recruitment tech solution
Despite the frantic urgency of healthcare recruiters ramping up recruitment marketing and job postings, it doesn’t address the primary need of finding fresh pools of candidates. With recruitment technology, recruiters can expand the range of their search while narrowing down on sought after skill sets through data analysis.
Healthcare sourcing goes beyond a traditional skill and key-word based search. Recruiters need to identify specializations, certifications, licenses, education, training and more. Artificial Intelligence (AI) helps recruiters research talent pool availability based on these specified criteria and specialties while making side by side comparisons between those with higher or lower years of experience. This can also help recruiters and hiring managers to identify changes that must be made to the job description, such as suitable qualifications, requirements or additional training protocols.
IT & Tech
60% of the most in-demand roles for 2020 are in tech and IT, with the top emerging jobs in the US projected including Artificial Intelligence specialists, robotics engineers, data scientists, and full-stack engineers. The primary challenge for technical recruiters this year will be competition.
The stream of technical candidates entering the market isn’t slowing down, but 2020 will see employers buckling down on targeted hiring. Both small and large companies alike are expanding innovations this coming year, spiking an increasing demand for talents with specific specialized skills, such as AI, Big Data, cybersecurity, and quantum computing. However, the competition for tech talent is split between major tech corporations such as Apple, Google and Amazon, and smaller companies who are looking for rapid expansion.
The recruitment tech solution.
To overcome the competition, recruiters will need to be familiar with companies that have most of their ideal candidates. Recruitment technology enables recruiters to conduct research on a targeted company and identify culture fits, work ethic or the likeliness of employee turnover. There’s also an increased need for clarity on a candidate’s skills and experiences on their resumes or LinkedIn profiles – job demands are becoming too specific for technical recruiters to read between the lines of profiles that are not updated frequently.
To get an accurate idea of a technical candidate’s experience and work style, recruiters need to go where they’re most active in sharing projects and interacting with other technical professionals. Look at their work on industry-specific platforms beyond LinkedIn like GitHub, Stack Overflow or Kaggle.
Hiretual’s brand new industry-specific sourcing solution helps IT/tech recruiters stay on top of specialties, programming languages and coding impact levels.
If you have any questions or would like to see a demo of our new features, fill in the form below!
FinTech disruption has been prevalent in the industry. In 2020, the financial services sector is ramping up its need to put digital skills first. Technology has been rapid in enabling the sector to optimize services according to what customers really want. The new digital era requires the financial services industry to enhance cybersecurity for their services, blockchain as an operational infrastructure and implement AI and Machine Learning technology for customer intelligence as well as supporting increased productivity for CPAs, consulting and accounting roles.
The most in-demand jobs in financial services from here on out will require candidates to have skill sets in data analysis, AI and Machine Learning, electronic trading, alpha capture and data science techniques for investment purposes. These candidates need to be able to implement, manage and conduct digital processes as well as analyze data that can help financial institutions better serve their customers.
The recruitment tech solution.
Recruiters for the financial sector need to identify and engage with talents that can keep up with this fast-growing digital model. Job listings requiring these digital skills increased by 60% in 2019. Recruiters need a sourcing solution that can help them narrow down on specialized skill sets to quickly capture talents without prolonging position vacancy times. Artificial Intelligence and Machine Learning algorithms will play a larger role in helping recruiters identify niche skill sets accurately. These tools cut sourcing time when data intelligence suggests related job titles and skills based on the role that you input into a search.
The staffing industry feels the weight of recruitment across all industries. The employment market remains strong, while the demand for fresh pools of candidates increases consistently. In 2020, staffing firms will have to focus on managing relationships with clients to deliver candidates that meet their satisfaction and increase transparency to mitigate misunderstanding caused by unrealistic expectations. As the need for more sourcing channels grows, so will the rise of social media recruiting as well.
The recruitment tech solution.
Staffing firms will need to throw out all processes that don’t work by updating their tech stacks. The need for transparency and scalability can be done with data aggregation in two ways.
- Providing clients detailed insights with talent availability for a certain role, skillset, geographic location and more. This will help staffing firms and clients set manageable expectations for time to fill and time to hire.
- Improving team performance among recruiters. Staffing firms should be able to work collaboratively on sourcing projects while being aware of changes in the recruitment funnel made by team members.
Speed and accuracy are critical for recruiters to manage multiple tasks for multiple clients efficiently.
Recruitment technology helps hiring teams get a broader look of all their projects to determine the most productive workflow.