How is your 2021 looking? With a recent study finding that 64% of people will be looking for new jobs, we’re guessing the answer is: BUSY.
While there’s no real way to know precisely what 2021 will bring, preparing for potential trends and making sure that you’re equipped with the right AI recruiting software can ensure that you and your team are ahead of the curve, rather than fighting to catch up.
The Challenges That Staffing Companies Are Facing in 2021
An SIA report shows a few things that staffing teams should keep in mind as we move forward.
- The effects of COVID aren’t going away any time soon. While a vaccine rollout is incredible progress, we can’t underestimate the changes that the pandemic could continue to cause.
- Accelerated automation could mean a change in the job market and a change in staffing task processes.
- Reskilling/skills shortages are at the forefront of a lot of people’s minds, but only 10% of companies are ready for the shift.
- Focusing on more recession-proof industries like healthcare can help you weather the storm.
- With 49% of companies considering shifting to in-house hiring, staffing firms could be in danger if you can’t prove value.
- Burnout and overwhelm “was the catalyst for early retirement and a resulting lack of qualified workforce.” Staffing leaders need to make an effort to support their teams to prevent a further burnout crisis.
With staffing companies facing everything from a pandemic to burnout, how can you get ahead of the curve?
How AI Recruiting Software Can Serve Your Staffing Agency
First off: What is AI? How can it be used in staffing?
Artificial Intelligence (AI) is a branch of computer science focused on building machines capable of performing human tasks. Colloquially, it’s used to describe technologies that support and assist work processes, like automation or machine learning.
When AI technology is used in staffing, it can support high-volume hiring, decrease recruiter burnout and overwhelm, increase efficiency, add much-needed value to the client relationship, save money (HiringSolved was able to save one customer $200K through operational efficiencies alone), and more. Let’s take a deeper look.
Living in a COVID Economy
The good news: The economy will likely make a full recovery from the COVID-19 created recession before too long. But until we turn the corner, many companies face a lack of growth and massive budget changes.
For many staffing teams that means handling work with fewer people on staff or handling a massive influx of people looking for jobs, but fewer jobs to fill.
Artificial Intelligence gives staffing teams the ability to do more with less. While letting AI handle automatable tasks, recruiters can get more people hired quickly and help their clients get back to the staff numbers they need.
Skills Shortages and Reskilling
Staffing agencies need to be agile and proactive to stay a leader as the job market evolves. A May 2020 report from Deloitte shared, “74% of organizations say reskilling the workforce is important or very important for their success over the next 12 to 18 months, but only 10% say they are very ready to address this trend.” The skills market is always changing. Twenty years ago, jobs like a Social Media Manager or SEO Specialist were rare or completely non-existent. Skills shortages and reskilling are part of the evolution of the job market.
AI software can help you analyze a job’s requirements and decipher if there is a shortage of qualified candidates or unrealistic needs given the market. Implementing AI into your process helps recruiters search more efficiently and provide a slate of better candidates quicker.
There is also a growing number of partnerships between staffing agencies and training programs to support reskilling and position growth. This shows that the staffing industry is taking the needed steps to be successful.
It’s not just placement candidates that are in need of reskilling. A Bullhorn survey shared that only “18% of respondents report the full adoption of their staffing technology.” When staffing companies are fighting with their existing software, like Salesforce, it can be overwhelming to adjust a process that feels broken. But adjusting to the changing times is no longer a nice-to-have, it’s a must-have. Invest in a solution with robust training opportunities to make sure that the team can learn together.
“Recession-Proof” Your Industries
Many staffing agencies have increased their work with “recession-proof” industries, like healthcare, where job opportunities are expected to grow 15% in the coming year. But when your agency is breaking into a new industry, it can be hard to get your team equipped.
The right AI recruiting software can help staffing teams no matter the number of requisitions they’re facing and no matter the industry they’re focusing on. If it’s an industry you’ve never focused on insights and analytics can help you get the data you need to hit the ground running.
Use AI Recruiting Software to Stay Valuable to Your Clients
“29% of large buyers of workforce solutions have a direct sourcing solution in place already and another 49% are likely to seriously explore it within the next two years.” With employers focused on budget, they are beginning to question whether they can afford staffing agencies.
To counteract these concerns, staffing agencies need to prove that their value is significantly higher than the cost. You can’t just keep doing the same things you were doing five years ago. You can innovate your existing systems to be faster and better than your client could do on their own with the right software.
Artificial intelligence software helps staffing teams move faster while keeping the quality of candidate slates high. By using artificial intelligence to move faster, agencies can get positions filled quicker while alleviating overwhelm concerns and saving money.
Counteract Burnout and Overwhelm
Burnout is a risk for recruiters at any time. Add on a pandemic, drastically changing work conditions, and an unstable economy, and it almost feels like a guarantee. Workplace changes like more flexibility are always welcome, but adjusting work processes can create a lasting reduced risk of burnout.
Artificial intelligence and automation can give recruiters hours back in their day by handling the time-consuming and repetitive tasks. By taking these tasks off their plate, team leaders can expect more engaged and productive employees.