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Thriving in the new world of hiring

Bill Boorman May 30, 2019

We are witnessing the advent on recruitment automation - moving from a burden of all human involvement to a machine-learning environment that allows the hiring funnel to be more augmented than ever before.

Hiring is still largely a manual process, requiring a human to direct the actions through a series of tasks - from organising a hiring event to  coordinating email chains between hiring managers, recruiters, applicants and candidates. These tasks combined are often described as the hiring funnel, because with each task there is a degree of rejection or drop out, reducing the volume of applicants in the funnel down to a select few who ultimately will become employees.

The big challenge facing talent acquisition leaders now is determining what tasks can be performed by technology, and when resourcing teams need to get involved, combined with the increased importance placed on candidate experience.

The challenges recruiters face are also in a state of change. An increasingly connected world is changing candidate behaviours,  companies and potential employees are now connected at a rapid rate. People are agile, they can change practices and attitudes instantly, whereas corporate organisations are constantly playing catch up.

In order to identify what this means for organisations, industry commentator Bill Boorman has teamed up with Oleeo, to investigate how this landscape is changing by following just under 9 million applications made to 25 companies based in the UK, USA and APAC. We wanted to look across 3 continents to see if the trends were different geographically. We also wanted to investigate trends by industry, to see how much the trends differed by sector, looking at Finance and Banking, Retail, Engineering, Consulting, Healthcare, Media, Advertising and Government/Police.

We tracked all the actions from the point an application is started in order to understand what happens at each of the stages of the hiring processes, along with the number and ratios of opt outs and rejections. This allows us to report on what the current hiring funnel looks like. By looking at what actually happens in the hiring funnel, we can consider where we can best automate, including the benefits of applying machine learning and AI to democratise hiring.

We hope you find reading this as interesting and useful in your planning as we have found whilst compiling it.

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