Leadership hiring has evolved tremendously over time becoming one of the most important factors in the success of a business. New technological advancements such as artificial intelligence, data analysis, machine learning, robotics, etc. have been the fuel to an effective recruitment process. The need for inventive leaders is increasing exponentially, which has led many industry leaders to discard in-effective and obsolete trends and adapt to new and effective recruitment methods to achieve management goals.
As the technology and market factors evolve, the trends affecting the recruiting process are transforming at an equivalent pace.
Here are some recruiting trends that could revolutionize the leadership hiring process in the year 2020:
● Advancement in Technology:
Advanced technologies have revolutionized every sector by automating major tasks through the use of AI, ML, Data Analysis and algorithms. These technologies help recruiters in identifying and eliminating bias in the recruiting process and screen candidates to serve specific job requirements. Furthermore, it helps companies to identify their personnel requirements efficiently, with interactive chatbots ensuring that the company saves time and hires the best candidate among the applicants.
● Shift to Essential Skills:
The rise in competition and technology has shifted the tag of soft skills from ‘nice to have’ to ‘essential’. Most companies are not looking for leadership hiring of candidates who possess skills like creative thinking, thought leadership, teamwork, communication skills, or more. Fueling this shift is the rapidly changing technological universe as it will force recruiters to find candidates who can adapt to the latest technological change and can guide the business to utilize it positively.
Amid corporate-wide gender progressing initiatives such as women empowerment through leadership hiring, companies are investing more in building their employer brand. Company culture, values, empowerment policies, flexibility and the opportunity to balance work and life are some examples through which companies will look to build their employer brand. The better the employer brand, the easier it will be for the companies to successfully complete the top management hiring process.
Data, coupled with advanced technologies is supporting employers in the process of predictive analysis. More companies are relying on past and present company data to identify, source, and access candidates. In 2020, data is expected to drive the process of CXO hiring and recruitment decisions. Data capture and its analysis are believed to be the core factor for companies to determine the ‘why’ and ‘what’ of the recruitment process, making it more effective and eventually successful.
● Strategic Executive Search Firms:
By integrating advanced technologies with compelling executive job search strategies, recruiters can create a greater impact on businesses. Executive search firms are engaging better with the key stakeholders in the process of top management hiring such as the employees, managers, and candidates. The impact of these companies is forecast to increase in 2020 owing to their added efforts for helping businesses hire the right candidates by leveraging advance tech and strategic solutions.
● Non-Conventional Hiring:
There has seen a shift from ‘resume-based hiring’ to ‘non-conventional hiring’. According to Ladders, Google receives at least 2 million applications in a year and its executive recruiters spend an average 6 seconds on a single resume. The excess of applicants, along with the need for creative skills has switched the focus of recruiters from resumes to their situational talent and their leadership and problem-solving skills. The year 2020 is expected to adopt the path of non-conventional recruitment where leadership hiring is done through non-conventional methods such as personality tests and skilled-based assessments.
It is now that a company must engage with executive search firms to develop a collaborative leadership hiring process infused with cutting edge technology and its related trends. With government policies aiming at total digitization, the year 2020 will see more companies benefiting from creating a comprehensive online recruitment approach, backed by data and strategic decisions.