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These days it's vital to be in the know—the more in-tune you are with all the options available for candidate sourcing, the better your results and the stronger your team. The top tech for sourcing in 2020 includes candidate sourcing tools that assist HR from the front-end like the job ad campaign down the funnel to talent retention.
Let's take a look at 4 candidate sourcing tools you should incorporate into your strategy for the coming decade.
1. AI & Automation
Automation eliminates manual efforts of the time-consuming tasks of HR, while AI allows for complex decision-making and learning from data to improve business outcomes. Consider the very start of the recruitment process: the job ad campaign. Starting with the job ad description, Textio is a platform that uses data from billions of documents to amp up your job ad description to make it more effective and inclusive, reducing bias at the very beginning of the process.
Once your job ad is written, programmatic job advertising platforms can use natural language processing to target quality candidates in a smart way based on your job ad description. Pandologic’s pandoIQ, for example, offers an AI-powered programmatic job advertising platform, combining powerful algorithms to take the job ad you have and place it in front of the eyes of the quality candidates you need. AI components employ natural language processing to classify jobs, then scour job sites and use historical data from job ad campaigns to key into the best sourcing for quality candidates. This targeted recruitment process comes fully automated—the result is reduced human error, improved efficiency and effectiveness of your job ad campaign, and increased ROI.
Further down the funnel, AI-screening software like the one from Ideal can create shortlists of candidates by assessing resumes—and even conversations. AI assistants and automated processes continue to improve and will be a key asset to any HR team in 2020.
2. Applicant Tracking Systems
Applicant tracking systems, the most ubiquitous recruiting software, are used by most large companies to handle hiring and can often filter applications based on hiring needs while keeping tabs on candidates in its reservoir of data. As an essential staple within the recruiting industry, these go hand in hand with the vast variety of systems out there to choose from.
If you don’t already use an ATS, or if you hope to migrate to a better fit, there are a variety of systems out there. It’s worth researching which system pairs best with your organization and can integrate with your other tech. According to Ideal, some of the top systems that companies are migrating to include Taleo (the leading ATS in the market), iCIMS (the second largest), and Greenhouse (the fastest-growing).
3. Video Interviewing
Online interviews are becoming more commonplace, as they offer the opportunity to expand your candidate field beyond the candidates within driving distance from a brick-and-mortar location. They also suit the growing demand for sourcing remote positions, which require better communication tools to keep candidates and employees engaged from afar.
Increased use of video-conferencing software has led companies to expand their offerings with other candidate engagement tools. ConveyIQ, for example, offers communication tools alongside its video interviewing capabilities including email, texting, and interview scheduling via automated processes. Another platform, HireVue touts its AI-assisted psychological assessment capabilities incorporated into its video interviewing software. Candidates can be assessed in real-time during the interview process to help support hiring managers' assessment during interviews. Another bonus: this is also considered an AI-assistant that can help reduce bias at the interview stage.
4. HCM Software
The greatest asset your company has is its employees. The suite of applications available in human capital management software (HCM) can manage simple tasks like payroll data and provide a one-stop convenient location for employees to access the HR information they need in a streamlined process: HR basics like onboarding, training, and performance reviews.
But the software goes a step further. As a whole, it can assist in the development of your workforce and individual employees from the moment they enter the organization. Because most HCM software systems include a recruitment component, you can keep tabs on your current workforce while also sourcing and hiring candidates that meet your ongoing organizational needs. It can also help you determine when employees within your organization may be the best candidate for a new vacancy.
One of the top HCM systems includes BambooHR, which helps you keep “people data” to provide insight into how to manage your workforce. This system provides automated onboarding, as well as employee engagement applications to better define your workplace culture. Another comprehensive HCM software platform is Zenefits, which touts its user-friendly and streamlined processes to make hiring and retaining top talent easier.
While candidate sourcing tools and tech continue to grow, the staples above, when paired together, can create a smart, comprehensive recruitment strategy that will keep your team up-to-date in 2020.