IMPACT OF COVID-19 ON BUSINESS RECRUITMENT STRATEGIES
Updated: Sep 16
Havoc has been wrecked throughout the world since the wake of coronavirus pandemic. As we are all aware, it's not only the economy that is at its knees now, but also the business growth has been threatened during these unprecedented times. From the McKinsey investigation 43% of the retail and wholesale trades have been adversely affected. Recruitment strategy has not been exempted.
Unemployment rate if hitting 32%. You plan of recruiting more candidates might have gone out of the window, or even you might be having the highest number of job candidates that have never been seen before.
It doesn't matter the industry which your business falls, and it's well clear how the pandemic has impacted the recruitment process of every business in some way. Organizations are now trying to conserve their taken sourcing resources; hence, most of them opt to engage freelance recruiters instead of the recruitment agencies in Singapore (best headhunters in Singapore also the top staffing agencies in Singapore). Being a freelance recruiter has the best perks in the current pandemic world, coronavirus crisis has given talent hiring freelancers and not the free recruitment job leads more opportunities to generate income in the comfort of their homes.
Additionally, 57% of organizations prefer remote work policies to keep them more on flexible working hours during these challenging times. In this article, we'll focus on the five key strategic recruitment aspects that have been affected by the COVID-19 pandemic.
1. Open Positions
There have been fewer vacancies for job seekers nowadays. According to study conducted by Boston College many organizations have found themselves in an unfortunate situation, making them to layoff some of the workers. (Google Book Results). Candidates are always on the move trying to cut down on their daily expenses to enable them to sail through these challenging times. Surprisingly, the IT giants have started the layoff; unfortunately, this might lead to recession.
Job opening in man organizations has dramatically reduced. Additionally, on availability of one or two, the Recruiters should expect tricky interviews, organizations now are very keen to employ the right talent that will help them stand out their competitors.
2. Remote Onboarding
Usual onboarding has evolved. According to Cielo companies are now opting for the virtual onboarding to get the new hires during the lockdown. Right from the induction process to the introduction of the teams, everything is happening remotely. There are many HRMS Software that has boosted the onboarding process.
3. One-On-One Interviews
Approximately 7% of the employers are now operating remotely. The ideas are to limit the physical contact through the implementation of social distancing rule to prevent further spread of the virus. Even during recruitment operations, you shouldn't meet your candidates face-to-face. Many offices are now shut. Many job interviews are currently being conducted through video conferencing and chats. Generally, there is a rapid change in the recruitment funnel.
Even as the number continues to rise each day, more organizations are directing their recruiters now to integrate the virtual interview applications to their recruitment processes. Other recruiters are also incorporating the applicant tracking system, which enables them to continue with the recruitment process remotely effortlessly.
4. Job Switch.
Sourcing the right talent amid COVID-19 pandemic won't be a walk in the park for the freelance recruiters. Many employees now are not willing to switch from one company to another. They value job security during these uncertain times. If employees feel that their job is well secured than they will open very minimal chance to job switching.
5. Recruitment Process Structure
The hard-hitting COVID-19 impacts have not exempted talent sourcing process. According to McKinsey study we are in an uncertain situation than no person had ever predicted. No industry has been spared, and the talent hiring/talent sourcing process has undergone a massive reshaping.
We Are All Exercising Tough, Unprecedented Times; However, We're In This Together. Always Stay Safe And Positive!