Glimpse into the Future of Recruitment Technology

Recruiting in a nut shell

Millions of people across the Globe are working around the clock in a multi billion dollar market. Their target – help a Recruiter meet the right Candidate!

Sounds simple, but we in the recruiting market know what is in store for us.

The Past

Recruitment has undergone a spate of technology growth since Computer and internet have come into the market.We migrated from Rack and file to email and computer folders, then moved on to Job boards and ATS, in the near past we have started exploiting Web 2.0 in our Recruiting effort.

What is in store for us in Recruitment in the future?

Being a Recruitment Technologist, I always dream of creating various products, services and tools to help simplify recruiters’ task. Here are some of my ideas which will surely turn into reality. Who ever brings them out – recruitment community will surely benefit.

Web Interviewing: With travel cost escalating by the day, Web interviewing is going to be part of the Recruiters toolkit in the future. Already a few players have got into this market. We will soon see more players and better tools in Online interviewing area.

Candidate Profiling: With Candidates today networking and sharing information in the web in different platforms and websites, in the near future, we can expect to have a one point profiling solution which will accumulate information about Candidates from various Social networking sites and technical forums & provide us a comprehensive overview about the Candidate.

Mobile based recruiting: Our current ATS will start provide a Mobile plug-in for communication to all recruitment stakeholders. This will ensure instant communication. This plug-in will evolve into a complete Mobile based recruitment system. Soon Mobile phones and PDA will be part and parcel of recruiting.

Intra ATS plug-ins: How easy will it be if you are able to shortlist a set of Candidates and automatically submit them to Clients ATS and receive communication and status updates through your ATS directly? I hope we will see some solution in this area soon.

Organization mapping service: A very useful tool for head hunters, organization mapping services will provide comprehensive information about an organization and its structure including who is who in the company.

Prediction and Pipelining: With current demands & past history of recruitment, smart and intelligent tools will come into the market which will pre-identify possible openings and pre-source resume and candidates for the position. Now recruiters have to just screen the resume and start the hiring process.

Certified Candidates: I hope someone will bring out a website where candidates can submit their text, video and audio resume. Interview them, understand their skills and do a back ground check. Then offer a certification which can be accepted by multiple Corporations. So once you see the certification, you can start processing the candidates without actually doing a due diligence of Candidate. This helps save enormous time & money here. Candidates are also happier since they don’t have to undergo the process with every company they apply to.

There are definitely many more ideas out there. Please share them here.

I would love to hear your comments.

Innovative Business Opportunities for Recruiters!

Innovative new Revenue Models for Recruiting Firms

Currently revenue generation models in Recruiting are very limited in India. Staffing, Placement & Head hunting are the only income for more than 95% of the recruiting firms in India.

Why not try some of the following revenue options. Few of these Opportunities are not currently being practiced & which could turn to be very potential:

Recruiter Branding: Handling HR and Recruitment Branding assignment for clients.

Job Branding: Branding Jobs is currently unheard of in Indian market. In most of the Companies, Requirement of people for a particular Job is perennial. They sure need to brand this Job to ensure maximum interest shown by Candidates. In fact, just writing a proper Job description will yield in very good response and a firm can thrive on it.

Interview Management: Many times due to improper management of Interview and Candidates attending the Interview, there is a ill feeling among Candidates & at times even among the Interviewers. Interview Management requires high quality professionals. Like DJ’s for events, Interviews also needs IJ’s (Interview Jockeys) who will ensure satisfaction among all stake holders. And this will enhance Brand image of the company and reduce Offer rejection to a certain extent.

Campus Recruitment: I don’t think I have to explain much about it!

Response Management: Corporate houses receive resume through multiple sources and have a whole warehouse of Resume (I mean electronic warehouse). If you could help them manage these responses and help in putting these resume into a structured database, you have a very potential revenue opportunity. Again, Response management for advertisements, events in ‘on demand’ model will also prove to be profitable.

Written test Management: Today, most of the companies recruiting entry and junior staff ask them to take up written test. If you are able to manage this, you are in for Good revenue.

Recruitment Process Outsourcing: RPO seems to be the next big thing after BPO. So start planning your RPO & grab this opportunity. RPO helps you receive constant revenue through out the year.

Turnkey Recruiting: Again, this is a good opportunity. Rather than sticking on at 8.33% or above per candidate, look at the assignment with a different perspective. See how much it will cost to handle a turnkey assignment, buffer it with your profit margin & get going. At times, I have seen that a flat Rs. 2 lakh contract for hiring 40 people proved to be much more cheaper than doing a single placement at 8.33%

There are many more opportunities. Pl let me know if you are having a different revenue opportunity which is not given here.