Traditional hiring is changing – it has to. The growth of the “Gig” economy makes a slow, clunky hiring process both costly and ineffective at securing talent.
If you’re skeptical about this statement though, read on. Jobvite’s 2016 Jobseeker Nation Study paints a clear picture of the job seeker’s perspective. You may find your talent acquisition needs to change in order to meet the job market head-on.
Rise of the Gig
That’s the message
Some of the most compelling findings in Jobvite’s report are related to gig work. For instance:
- 19% of job seekers polled have held a gig-type job.
- 56% of those respondents report that their gig job was their main source of income.
- Households with higher total income are more likely to engage in gig work. 41% of households earning $75K to $100K have a gig job; 27% of those earning more than $100K have a gig job.
This data jives with other trend information indicating that the number of people who prefer to be an independent worker is growing. Talent acquisition professionals, get ready to be even busier with attracting, interviewing, hiring and onboarding as the sheer number of employees passing through your organization increases. Your actual headcount at any one time may not increase, but the churn will.
Paying More Attention to the Interview
Another piece of interesting data relates to the hiring process itself. When asked, “What makes the biggest impact on your impression of the job?” 47% of respondents indicated the interview, followed by 39% who said the initial contact. For TA teams who will be tasked with doing even more (probably with the same or less resources!), it’s time to focus on the steps in the hiring process that can deliver the greatest impact. Clearly the interview is first priority, but can you fit more interviews into your overloaded schedule?
With the convergence of these two realities, it does become clear that traditional hiring processes will no longer suffice. Modern hiring must move along faster and allow companies to assess top candidates effectively even as they “sell” their gigs to those candidates. For no-fail candidate engagement, many companies have already turned to video interviewing.
Take Less Time to Hire the Right Candidates
If the interview is the place to engage candidates, then video hiring software is the right technology for the job. A video interviewing platform purpose-built for hiring can transform the interaction you and your hiring managers have with candidates in so many critical ways:
- Start the process by socializing your job opening and including an invite to a simple on-demand video interview. Interested candidates can complete it at their convenience and without making the commitment to travel across town or the country. Company leaders can provide a short welcome video and the hiring manager can ask the questions via video. TA teams quickly build up a pool of completed on-demand interviews, which allows them to efficiently screen and move top candidates to the next step in the process. And, the high-tech yet high-touch experience makes a positive impression with candidates.
- Dialog face-to-face with candidates earlier in the hiring process than ever before. You can quickly learn which candidates hold the greatest potential for your organization. With live video interviews, the candidate can meet with all the key stakeholders in the hiring decision at the same time. Everyone joins from their own location via smart phone, tablet or PC, so scheduling delays are significantly minimized. Collaborative hiring becomes more efficient, and candidates can access the in-depth information they need to decide if the gig or long-term position is right for them.
Still skeptical – Perhaps the gig trend may take longer to show up in your industry or organization. However, you can find out right now what candidates are saying about video interviewing technology. More than 25,000 candidates weigh in with their opinions after experiencing Modern Hire for video or voice interviewing in our article “Candidate Feedback: The Purpose-Built Video Interviewing Experience.”
Find out what 25,000 job candidates say about their video interview experience.