There’s one thing that employers, regardless of their size, industry and location have in common – they are on the hook for attracting and retaining talented employees to get the job done, whatever that may be. If they fail to do so, it’s only a matter of time before their business fails, too, because the cost and risk of unfilled jobs is simply too high. Understaffed retail stores lose sales, patients have an increased chance of death if there are no nurses or not enough nurses to care for them, for example. Simply put, if there’s no one driving the car, it’s bound to crash.
This demand for talent is not exclusive to the United States. Like the U.S., unfilled job vacancies and unemployment rates are at record high rates across the U.K., which continues to allow workers to have the control and bargaining power, while fears amount from employers who are unable to find qualified workers to fill open roles. In fact, recruiting is recognized as a leading for organizations as they navigate the nuances of today’s workforce and the latest wave of tech innovation.
Frederick Ballon, VP of European Sales for iCIMS who attended UNLEASH London said, “It is clear that the need to find more and better-qualified candidates and build relationships with active and passive job seekers to attract and ultimately hire them faster remains a top priority for organizations large and small. Many companies that have opted to rely on their HRIS system’s recruitment capability in recent years are now regretting that move and are either returning to best-in-breed recruitment solutions or are looking to supplement their somewhat basic recruitment system with an ecosystem of specialist sourcing, communication, CRM, selection, contract and onboarding tools.”
Several iCIMS employees – from both the U.S. and U.K. offices – attended the in London on March 20 and 21, where industry leaders gathered to discuss the latest trends. Here are three key takeaways from the event:
Emerging Technology Inspires Recruiting Practices
Artificial Intelligence and machine learning have been at the forefront of the HR industry for quite some time – but it’s only the beginning of the technological revolution that’s poised to sweep the recruiting industry.
According to a survey conducted by the Fosway Group in partnership with UNLEASH, 68% of respondents do not think their current HR systems are ready for the modern workforce. Furthermore, their top two business challenges are increasing organization performance and profitability and increasing business agility. But how will they go through those digital transformations, not only with better technology, but also with the customer experience, operational processes and business models?
Mentions of emerging technology could be heard throughout sessions and conversations being had throughout the expo hall. The rapid rise of things like blockchain and voice recognition leave employers feeling unprepared. How will they fill brand new roles to accommodate this ongoing technological shift? How will they continue to quickly adapt to new technologies to stay ahead of the competition and position themselves as an innovative company to candidates?
Recruiters jobs just got even more complicated. They will have to look for and consider wide array of qualities, skills and experiences in job candidates. In fact, according to IBM’s recent report, “41% of respondents aim to hire digitally skilled talent, 37% expect to train employees in emerging technologies.”
Today’s Workforce Craves a Collaborative Environment
New technology makes it easier for companies to remain productive and agile in unique circumstances. For many employers, this means having a remote workforce, or employing a wide range of systems and tools for employees to use in their day-to-day operation.
While the benefit here is undeniable, it also sheds light on one widespread concern: how can employers create, maintain and inspire a collaborative work environment for their employees? Today’s workers want to feel as though they’re a part of a team. They want to work together toward a shared goal. Employers have to strike a delicate balance of staying up on the latest tech trends, while maintaining an employee-focused work environment.
The Industry is Ready for Best-of-Breed
The Fosway Group’s survey results indicate that investments are increasing in all areas of HR IT. Respondents shared that they expect their investment in the following areas to increase over the coming years:
With a growing need to fill open positions and a wide array of technology available to them, many companies are looking to move away from a unified HCM solution. The stakes are high, and there is no ‘one-size-fits-all’ option available.
As if the conversation at UNLEASH wasn’t enough of an indicator, from Acadian Advisory showcases that companies are opting for a dedicated solution to help them tackle their very specific, very real needs.
Upcoming Industry Conferences
We want to learn more about you and how we can support your recruitment efforts. For employers who are interested in meeting the iCIMS team and getting a hands-on demo with our software, check out our booth at the following events:
Erica Bonavitacola works in public relations at iCIMS with marketing experience for both B2B and B2C brands. She has a love for storytelling and connecting with others. When not at work, Erica can be found reading, eating pizza and/or spending time with her curly-haired dog, Milo.