You have probably heard about the growing skills gap impacting virtually every major industry in the United States. However, you may not know that the IT industry faces one of the biggest shortages in skilled workers. According to some estimates, the IT skills gap will result in over $775 billion in lost productivity by the end of 2022.
The shortage of qualified IT professionals has led many organizations to reevaluate their recruiting and hiring practices. Specifically, these businesses are modernizing recruiting by leveraging cutting-edge technologies.
In this article, the team at eSkill has outlined several recruiting technology trends that will forever change the way businesses hire IT staff.
Implementation of Recruitment Marketing Software
The abundance of openings within the IT space and the lack of qualified candidates have given modern workers more power than ever before. The skills gap has created a seller’s market, which provides talented IT professionals with the opportunity to choose who they want to work for.
Experienced candidates will often have multiple suitors and are able to select the prospective employer that offers the best salary and benefits.
These developments have resulted in one of our list’s most notable recruiting trends. An increasingly large number of businesses are using recruiting marketing software to attract potential employees. This software helps companies advertise vacancies by distributing job postings and providing feedback on the results of marketing efforts.
Deployment of AI-based Screening Tools
Next up on our list of hiring trends is the use of AI-based screening tools. AI (artificial intelligence) software allows businesses to automate screening and recruiting tasks to identify top candidates faster and reduce the cost of hiring.
Organizations that adopted AI technology early reported a 75% decrease in the cost of screening candidates. They also found that their turnover rates declined by approximately 35%.
Reducing hiring costs, expediting screenings, and decreasing turnover have become more important than ever due to the ongoing worker shortage. By cutting costs and retaining skilled employees, businesses can mitigate the impact of the skills gap.
Reliance on Applicant CRM Technology
Sales teams have traditionally used customer relationship management (CRM) technology to manage client data and track prospective leads as they are guided through the sales funnel. However, CRM solutions have made their way into several other sectors, including recruiting.
Recruitment CRM software allows hiring teams to track prospective employees throughout the hiring process. HR departments can not only manage candidates currently in the pipeline, but they can also access information about past applicants. This information can be extremely useful when new vacancies become available.
For instance, suppose your organization needs to hire one cybersecurity professional but identified five quality candidates during your last screening process. You can retain the information of the four candidates that were not selected using CRM software.
When you develop a need for another cybersecurity professional, your HR department can reach out to those four candidates that have already completed the screening process.
Social Media Marketing
What was once a fringe market has evolved into a mainstream advertising medium. Social media marketing is not only an excellent way to sell products and services, but it can also be a great way to attract quality candidates.
Businesses across all industries use social media platforms like Facebook, Instagram, and LinkedIn to get the word out about vacant positions. LinkedIn, in particular, is extremely useful for connecting with IT professionals.
Increased Use of Online Skills Tests
Closing our list of hiring trends is the increased use of online skills tests. While skills tests have been used for decades, an increasingly large percentage of employers are beginning to deploy these highly effective screening tools.
Online skills tests are one of the most efficient ways to evaluate prospective employees. Businesses can administer assessments to candidates based on the position that they are applying for. These skills tests will reveal if candidates possess the abilities that they claim.
There are dozens of online skills tests designed specifically for the IT industry. A few of the most popular business intelligence and IT-related skills tests include Blockchain, Basic Artificial Intelligence Knowledge, Machine Learning, Data Analytics, Data Science, and Oracle Administration.
Once candidates have completed their assessments, organizations can rapidly review their results and determine which applicants performed the best. They can then schedule interviews or make employment offers.
Much like AI-based screening tools, skills tests are a great way to reduce the cost of hiring and reduce turnover.
eSkill Can Help You Adapt to Emerging Recruiting Technology Trends
eSkill’s online testing library has hundreds of skills assessments, including some designed specifically for the tech industry. Request a demo to learn how we can help you capitalize on emerging recruiting trends.