Is COVID-19 changing the recruitment industry? How long will these changes last and where does recruitment go from here? Keep reading to understand how Covid-19 is changing the recruiting industry.
There is no denying the effect of Covid-19 on the global economy. Our lives have been disrupted by the pandemic, which has affected all economic sectors and caused great turmoil. Human resources industries have not been spared either. The pandemic has brought several significant changes in the recruitment industry.
What will the long-term effects of these changes be for the recruitment industry? Can we expect them to be permanent in nature?
The far-reaching impact of COVID-19 on the recruitment industry
In general, Covid-19 has a negative effect on the economy; however, each economic sector is affected differently. The worst-hit industries are hotel and tourism industries.
There has been a significant reduction in recruitment in these industries. However, the demand for medical staff and executives working for home delivery services continues to rise, meaning more recruitment activity in these segments. Since the pandemic has caused a lot of layoffs, it has raised job insecurity in the market, and many workers are hesitant to change jobs.
As economies stabilize after the initial shock, businesses are slowly resuming normal operations. Since more and more organizations are utilizing remote workers, there has been a dramatic change in the recruitment process and policy. These changes could be long-lasting and continue long after the pandemic is over. Here are some of the significant changes that are emerging in the recruitment industry.
- Changes in recruitment policies – Lockdowns and social distancing have made it impossible to conduct physical interviews. If companies plan to recruit new employees they must adapt to the new social distancing rules and ensure their recruitment procedures are in compliance with public health regulations. Due to this, companies are turning to digital technologies to source skilled employees.
Artificial intelligence and automation play an important role in this process. The interviews can be conducted via video conferencing, while the skill assessment can be done online. Virtual recruitment is assisting companies to continue with the recruitment process without interruptions. By using this method, the recruitment process can also be more efficient and candidates will be more engaged even when they are far away
- Changing hiring needs – COVID-19 has greatly changed the needs of most companies in terms of recruiting, but the impact is quite distinct across different industries. In most industries, recruitment numbers declined, while in other industries new hires have been sought significantly more than before. Many companies closed their doors or fired their employees as a result of lockdowns. There were also many organizations that suspended recruitment until the crisis ended. The travel and tourism industry, hotels, entertainment industry, and other industries have all seen significant layoffs and work hours
- Recruiting new tech talent -As a result of the new COVID-19 scenario, skillset demand has also changed. The growing reliance of global business on virtual technology and remote workers has created more opportunities for technical professionals than ever before. Companies are changing their recruitment policies, especially when seeking new technology talent. The educational and work experience requirements of organizations are more flexible
In general, the human resources industry has been impacted significantly by the COVID-19 epidemic. The global unemployment rate is high, affecting people from all walks of life. Several industries are currently experiencing a talent shortage as the economy adapts to the new reality. For companies still hiring, the move to online recruitment and virtual interviewing is an inescapable one. Now that recruiters have access to a global job market, they can expand their networks and find the brightest talent around the globe.
The COVID-19 will affect the labor market in a significant way, and it is a topic of great concern both to job seekers and employers. Delayed recruitment and job cancellations have negatively affected the global economy. Most economists expect the recession to come soon. In the aftermath of the virus, it now appears that we will live with the effects for a long time.
When your business is facing devastating effects from the pandemic, recruitment is the very last thing you want to worry about. For your internal HR team, adjusting to the new recruitment situation may be a challenge. It is best for your company to outsource the recruitment process to companies that are experienced in handling hiring process according to pandemic conditions.
SBL offers cost-effective recruitment solutions to hire both temporary and permanent workers during the COVID-19 pandemic. Our recruitment services can help you hire consultants, freelancers, and qualified technical or non-technical staff. Using a flexible approach, we create a process that meets your needs and enables you to gain access to the right talent. Additionally, we ensure that you meet all the legal requirements related to hiring and help you implement the process according to the government’s safety guidelines.
Our solutions are cost-effective and design to meet all your talent requirements in a timely manner.
Contact our New Business division for more information.