4 Current Trends Influencing The Market

As an employee, organisation leader or talent acquisition specialist, you must be interested in understanding what new perceptions are brewing in the other section's mind. To help you comprehend this better, we had been sharing some spontaneous polls with our audience (which is a mix of these categories) over the past few months.

The polls are related to some recent trends in the market. And here is what the respondents have said:

Back to office Trends:

As workplaces are gradually re-opening, both employers and employees are reacting differently to this change. When we asked the employees which mode of work they would want their employers to prefer, 88% of employees voted for permanent work from home and hybrid working models.

The results have made it clear that despite things are moving back to normal, the past two years have shifted employee's preference. Therefore leaders will need to bring hybrid and permanent remote models into the picture. Only then they can successfully retain and engage their workforce.

Employee Retention Trend:

Employee retention is an important step to build a resilient workforce and a great employer brand. The idea of offering competitive salaries still rules the mindset. 50% organisations believe that competitive salary is the only solution to maintain retention rate.

the market has been showing other trends. Even though employers think that employees leave only because of money, as per LinkedIn, flexibility is one of the major deciding factors when it comes to retaining and attracting new talent.

Contrasting Talent Acquisition Trends:

AI has made an important place in the talent acquisition process and respondents also believe the same. 75% voted in favour of smarter resume evaluation and filtering to be the best way AI can revamp the talent acquisition process.

the contrary, most respondents opted for methods that were prominent before pandemic as the best ways to acquire talent. Both referrals and job portals got 46% and 31% of the votes. The preference is backed by the belief that referrals will reduce the time to hire and the quality of talent will be better.

There is a significant contrast in the mindset of people when it comes to talent acquisition. Job portals and referrals may be a great way to find talent. But in today's dynamic market they may not be as fruitful for acquisition specialists as they are expected to be. Therefore it is time to shift to the new age platforms and automate the end-to-end acquisition process. One way to decrease human intervention and improve efficiency of the screening process is through offline video interviews.

About Offline Video Interviews:

In offline video interviews or one way interviews, candidates record and send short video answers. Companies use different technologies and tools to conduct these interviews and send their predetermined questions to candidates.

Many companies are finding great candidates through this interview method. 51% organisations believe offline video interviews are a good medium for hiring Non IT Back-Office and Freshers.

Even candidates are finding offline video interviews more convenient. 68% candidates said to be ready to record a one way interview if required by the organisation.

We may witness offline video interviewing become a part of the talent acquisition process for many businesses, especially during pre screening of candidates.