Is recruiting in banking something that you’ve thought about at at your organization?
Like almost every industry these days, banking is changing a great deal and becoming more technologically-focused. The disruptive arm of the financial services industry is called — logically — “fintech,” and it’s already making a pretty big dent. Millennials and Gen Z, broadly-speaking, are either quick to change banks or abandoning banks altogether, which will consistently adjust the broader industry in the next 10-15 years.
As the industry evolves, though, what about recruiting within the industry? What do you need to know there?
Some broader ideas about recruiting for the banking industry
The good thing for recruiters focusing on banking is that finding people — the sourcing part of the equation — is usually easier than in other industries. Continue reading
Have you been wondering about what the quantitative difference between quality of hire and time to hire is?
Recruitment involves dozens of metrics. It’s easy to fixate on each one without improving the hiring process. But there are two metrics that employers tend to value: quality of hire and time to hire.
We’ll explore the benefits and drawbacks of these metrics. We’ll also provide best practices for striking the ideal balance between the two.
Quality of Hire
Quality can be a difficult aspect to measure. After all, it’s a subjective metric. But quality comes in many forms: ROI, productivity, and manager satisfaction. Continue reading
Is this the best job market ever? And what does that mean for hiring?
This question has been circling around North America for a bit now. The Wall Street Journal just referred to this period as “the hottest job market in a half-century,” which was primarily a reference to the U.S. job market. The U.S. job market has added jobs for 100 consecutive months, and is broadly seen as “hot,” although there’s some nuance to that which we’ll discuss in a second.
The Canadian job market is also seen as surging, largely based on a massive uptick in private-sector hiring, although again, there’s some nuance to all the good news. Continue reading
Have you been wondering how the rise of AI began to trend and spread across the globe?
The rise of artificial intelligence
Consider the Industrial Revolution, which lasted somewhere from 60-80 years. Some are calling the current period “The Fourth Industrial Revolution.” Largely expected to be driven by artificial intelligence (AI) and data analysis, this Fourth Industrial Revolution will be compressed into the lifespan of a beagle.
This means absolutely massive changes for how we work and design processes within our work. AI, specifically, is already beginning to have a large impact in recruiting and hiring.
It is helpful now to look at where AI has been, where it’s at now, and where it might be going. Continue reading
Is there a best practice when using AI to hire for insurance roles?
What is the current situation?
In general, hiring in the insurance industry across North America has stabilized in recent years, with 58 percent of employers saying they plan to expand jobs into 2019. As with other white-collar industries, though, there’s still a perception of a “skills gap,” i.e. key roles are hard to fill. This can often be solved by increasing wages, but not every insurance company has the ability to do this.
As Monster.com has noted, however, insurance is often the “Rodney Dangerfield” industry, i.e. “can’t get no respect.” One of the issues is candidates not fully understanding the scope of roles. Continue reading
Bullhorn recently published their 2018 North American Staffing & Recruiting Trends Report, a survey of more than 1400 staffing professionals.
Compared to 2017, the majority of staffing professionals – 67% – are less confident about the future. This is likely due to the tension between the potential opportunities presented to staffing agencies vs. the challenges they face in 2018.
I’ve highlighted some important findings on recruiters’ priorities for 2018 from Bullhorn’s report below.
Increases in hiring and operating budgets
Whether internal or external, recruiters are experiencing the same challenges from the tighter labor market.
While 70% anticipate an increase in hiring needs, 64% of staffing pros say their top challenge is the talent shortage. Continue reading
In 2018, employers are looking to hire more than ever before, while many employees are looking for a change.
According to a recent study by CareerBuilder, an astounding 40 percent of employees reported that they plan to change jobs in 2018. With so many candidates applying to jobs, companies are going to have to step up their game to attract the most qualified applicants and organize them once they’ve applied.
That’s where finding the best Applicant Tracking System comes into play.
What is an Applicant Tracking System?
An Applicant Tracking System, also known as an ATS or talent management system, is an easy-to-use computer-based hiring tool that can help recruiters save time and stay organized as they search for the best candidates. Continue reading
According to LinkedIn’s Recruiting Trends 2018, 67% of recruiters say AI helps them save time, 43% believe it removes human bias, and 31% say it delivers the best candidate matches.
So if you’re in talent acquisition, investing in AI seems like a smart move. But how do you decide which AI tool is right for you?
I break it down in our new 11-point buyer’s checklist on AI for recruiting software.
Section 1: Questions for your team
Your decision making process for buying AI for recruiting software starts with the questions you ask your team (and yourself).
A good starting point is asking yourself: what’s our biggest pain point? Continue reading
Have you ever heard the term “shelf-ware?”
That’s when your company buys software but no one inside the company really uses it once it’s bought, so it sits on the shelf. Get it?
Shelf-ware is extremely costly to a company. Basically, buying something for a bunch of money, never adopting it, and likely renewing it at the end of the contract.
No one wants to throw money away. So how do you make sure that the software you invest in actually gets used and doesn’t become shelf-ware?
Here are three important factors to consider when you buy recruitment technology.
#1: Integrations with your current recruiting stack
Make sure whatever you are considering purchasing integrates with your existing workflows. Continue reading
With the rise of chatbots, conversational recruiting has become the hottest strategy in talent acquisition.
A recent demonstration of Google’s Assistant scheduling a haircut blew people’s minds and hints at the intriguing future of what conversational recruiting could look like.
Conversational recruiting is defined as attracting, qualifying, and engaging candidates with real-time, continuous one-on-one messaging. These conversations are flexible and take place where candidates already are: on mobile, social media, and messaging apps.
Already common in sales and marketing, conversational commerce is the adoption of real-time messaging with people, brands, products, and services.
The technological advancement that enabled conversational commerce to happen was the merging artificial intelligence with everyday consumer interactions. Continue reading