Bringing new blood on board helps inject fresh perspective and insight. However, the process in finding the right people to fill important executive and leadership positions is both tedious and critically important to get right.
How many candidates is enough? How much allocated time for interviews is sufficient? The traditional hiring process, especially for a key position, can be long-drawn and costly, in terms of money, time and energy.
For companies with smaller HR teams, the search and hiring process for key executives can be overwhelming and sub-optimal. This is where a professional executive search firm, well-attuned to the latest employment trends and equipped with the latest technologies and data, will come in very useful.
Here are 4 key developments and trends you will see in a good professional executive search firm.
Creative interview processes
As technology continues to evolve, recruiters are thinking up new and innovative ways to improve the interview process and results. There will be more video interviews, virtual reality skills tests, and other technological powered techniques to be applied in job interviews and auditions. Automation will also be employed in many of these cases, making the entire process run more smoothly, with less time and effort spent on manually collecting data points or data entry.
Data-driven scoring and decision-making
Artificial intelligence driven by big data opens up exciting opportunities in many fields and industries, recruitment is one area where big-data comes in invaluable even in as early as the initial search process. By using robust data analysis techniques, a good AI system can help predict your potential hire’s probable success in the organisation, understand and improve job retention rates, craft more accurate and appealing job offers, sourcing and screening candidates, scheduling, and even interviewing to some extent.
With most of the best people already in a job, and with unemployment rates at one of the lowest points in recent history, companies and recruitment firms will continue to take on more proactive roles in going after their ideal candidates, whether they are actually in the market for a new job or not. This includes reaching out to new or ex-employees who are currently performing in a competing company in a bid to woo them over with better terms and remunerations.
Workplace diversity is here to stay
It is safe to say that the focus on creating diverse workplaces will only increase in the near to medium term, and this trend will be reflected in the search and employing processes. Research continue to point to the fact that diversity in the workplace – comprising employees across a mix of cultures, backgrounds and demographics – improves work dynamics and ultimately, the performance of the organisation as a whole.