2020 is officially upon us, and the U.S economy continues to operate at record employment levels. The unemployment rate decreased to 3.5% in September 2019 (vs. 3.7% in July 2019) with the number of jobs available exceeding the number of candidates actively seeking employment.
Which jobs are being impacted the most? Education and health services categories experienced the largest one-month growth increase, adding more than 40,000 jobs, while the retail industry experienced the least, removing over 11,000 jobs month over month. During this time, it’s even more critical that we leverage innovative tactics and strategies to maintain a healthy talent pipeline.
Stay competitive and reach new talent pools with these ideas:
Automation: According to HR.com research conducted earlier this year, only 10% of companies use AI in recruitment today. Why should you consider AI within your recruitment process? According to Paradox, AI recruiting assistants can help guide candidates to the right job locations, provide company information, and help with hiring process communications, which can reduce candidate drop-off and increase application rates. Candidates feel like they are supported and receive an easy, personalized experience, while recruiters and hiring managers are given more time to focus on other important parts of hiring. Organizations that leverage an AI recruiting assistant, such as Olivia, are saving between 4-6 hours a week of managers’ time in the hiring process. The beauty of automation through an AI recruiting assistant is that this technology can process certain tasks at scale within seconds, while it would take an individual hours to accomplish the same tasks. Automating screening increases the visibility to qualified candidates and provides a fast track for them, especially for those roles that are generally the most challenging to fill. The process is fast and easy for candidates, delivering a positive experience for your brand. Aaron Matos, Founder & CEO of AI company Paradox, stated, “We built our AI Assistant Olivia to automate the BS—that’s the boring stuff—so talent professionals can focus on high value, strategic work.”
These ideas are just a small sample of the unique solution combinations that can work for your specific challenge. Also, this showcases how we partner with clients to bring the right strategic tools to fill all their hiring needs.
If you’d like to chat and learn more about these or other solutions, just reach out!