According to the law of nature, with time everything changes and new things take over the old. This has been happening in the recruitment domain recently. Recruiters have started using new words in HR and recruitment by forsaking old and obsolete words. Today, more than ever, you need to keep pace with other HR professionals and recruiters by learning these new keywords that are setting the recruitment world ablaze.
These buzzwords have changed a lot in a couple of years and they continue to evolve as the years pass by. Some of the trending and new buzzwords that have made their mark felt in the current year include: rightsourcing, work life integration and inclusive workplace. For your ready reference, we have enlisted top 10 HR and recruitment buzzwords for modern recruiters that will hopefully make your day fruitful.
As some of these terms are new with complex meanings we have given a brief idea about them and how they are making their mark in the HR and recruitment domain.
1. Artificial Intelligence (A.I.)
Although this word/concept has been around since a very long time, it is just starting to build up momentum in the HR and recruiting domain. Before we look at how artificial intelligence will create an impact in your lives as a recruiter it is important to know what exactly the word means. Artificial intelligence is an intelligence which is demonstrated by the machines. It is an online mechanism that controls, machine learning and algorithms. Artificial intelligence is set to have a major impact across most industries in terms of automation and one can only imagine the kind of impact it will have on the recruiting domain.
Some of the early examples of artificial intelligence gaining prominence in the recruitment field include: bots and chatbots. These are computer programs that have been designed to stimulate intelligent conversation with one or more human beings. Now, imagine a scenario where A.I. makes recruiting a better place not simply because of the fact that machines are smarter but because they do not have to eat, sleep nor do they have to worry about work/life balance.
How Recruiters Feel about Artificial Intelligence?
- 96% of senior HR professionals believe AI has the potential to greatly enhance talent acquisition and retention. (Source: Blue Sky PR)
- 13% of HR managers already see evidence of AI becoming a regular part of HR. (Source: CareerBuilder)
- 55% of HR managers see evidence of AI becoming a regular part of HR within the next five years. (Source: CareerBuilder)
- 35% of HR managers say not fully automating manual processes has led to higher costs. (Source: CareerBuilder)
- 17% of HR managers say not fully automating manual processes has led to a poor employee experience. (Source: CareerBuilder)
- 65% of HR managers say the thought of AI in HR does not make them nervous. (Source: CareerBuilder)
- 33% of employers expect to do “more human tasks” augmented by AI. (Source: Forbes)
- 7% of HR managers say they think a robot could do their job. (Source: CareerBuilder)
It is a great buzzword that indicates that a right thought process is necessary when it comes to recruiting a good candidate. Nothing is full proof in the recruitment domain. But, there is always a need to create a recruiting strategy that covers all the bases that ensures that the candidate you hire stays in the organization for a very long time. This is what rightsourcing does at its best.
Today, recruiters are mostly confused whether to insource or outsource when it comes to recruiting a key personnel. Rightsourcing helps you to make a conscious effort in evaluating the different options in hand and then taking the wise hiring decision for the organization. Although, this process may take some time, but, you will end up selecting the best talents for the vacant position.
Assessment Areas to Scrutinize while Conducting Rightsourcing
This is the primary area of focus when it comes to evaluating the skill sets of the candidate in terms of qualifications, education and job experience related to the vacant position. Most of the recruiters review the candidate on the basis of their resumes and the responses received from them in the interview process and compare them with the job description. But, the problem is most of the hiring managers stop here and base this criteria as a sole dimension to make their hiring decision.
After the first area of focus, the recruiter has to focus on the personality of the candidate. This can be done with a wide array of assessments that help in evaluating the personality traits and emotional intelligence of the candidates. The costs of the test can vary hence, it is best to opt for only the reasonably priced option. It is best advised to spend a little more in the process rather than selecting a bad hire. The challenge over here is to utilize the information obtained from the test to use. If you hire the candidate regardless of the assessment it would be a waste of resources.
The final assessment area is to evaluate how well the candidate can adapt within the organization and the team based on the culture and personalities within the team. It is critical for the hiring manager to know the culture of the organization, including the individual managers working in different departments. Behavioral interview questions can be very useful in evaluating this factor. For example; if a manager is a micromanager, then selecting a candidate who is autonomous and unaccustomed to work in this particular work environment would be a poor selection.
3. Data driven recruiting
Data driven recruiting as a buzzword has played a critical role in empowering recruiters to embrace the data mindset while making hiring decisions. Traditional recruiting used to depend a lot on luck and instinct more than data which used to take too much of time to accumulate and analyze. But, today there are different types of software and analytical tools available that can assist in developing a data driven recruiting process.
A data driven recruiting is when you utilize stats and facts to make educated hiring decisions from selecting the candidates to creating hiring plans. It has been observed that recruiting teams that use data are more likely to have reduced costs, improved and efficient hiring process.
In recent times, words like “talent” and “analytics” have evolved in the everyday language of recruiters. But, the best buzzword replacement has been from the word “human resources” to the word “people”. Earlier, when the word “human resources” used to come up there was a general tendency of considering it to be a part of the management. But, the word “people” means a unique individual contribution and true importance. There is a positive connotation to it.
By putting the people first you are gaining the right perspective from your employees and candidates in general. Earlier, “resources” was also being used for employees, but, today by using the word “people” recruiters and HR professionals are signalling a feeling of purpose and centrality.
5. Employer Value Proposition
This buzzword has gained traction in recent times. Everyone takes the words “value proposition” quite seriously as it resonates a strategy. Employers who are touting their greatness as a means to lure great talent are not going to sustain for long. Here, employer value proposition plays a critical role in ensuring that organizations attract great talent. It is a statement that ensures that a thoughtful, deliberate and meaningful message is crafted for talented candidates that resonate with the type you want to recruit in the near future.
Statistics that Showcase the Importance of Employer Value Proposition
- 87% of employees value learning and personal development the most. (Source: LinkedIn)
- 49% of companies with high EVP balance teamwork and benefits. (Source: LinkedIn)
- 70% of brand experience is determined by “people experience”. (Source: LinkedIn)
Millennials is one of the most important buzzwords in the current year. This generation has been changing the definition of work in the corporate world. When you think about it, flexible work schedules, unlimited vacation time, working from home and other benefits need to be credited thanks to Millennials. These so called Millennials have brought about a major change in the workforce, which will continue to evolve as the time goes on.
The Evolving Role of Millennials in the Global Workforce
- 41% of Millennials expect to be in their current job for two years or less (compared to 17% of Gen X and 10% of Boomers). (Source: Job Applicator Center)
- 40% of Millennials say they are “somewhat” committed to their employer. (Source: ReportLinker)
- 29% of Millennials are engaged at work, 16% are actively disengaged, 55% are not engaged. (Source: Gallup)
- 21% of Millennials say they’ve changed jobs within the past year, more than 3x the number of non-Millennials. (Source: Gallup)
- 44% of Millennials say, if given the choice, they expect to leave their current employers in the next two years. (Source: Deliotte)
- A quarter of Millennials (24 percent) have worked at 5 or more organizations. (Source: O.C. Tanner)
- 52% of Millennials viewed the concept of employee loyalty as being overrated. (Source: Forbes)
- 76% of Millennial employees expect to change careers – not just jobs – at some point. (Source: Cornerstone)
- 93% of Millennials left their company the last time they changed roles. (Source: Gallup)
- Top reasons why Millennials consider leaving their jobs: to make more money, to move forward in their careers, to pursue work that is more aligned with their passions, and to have more flexibility/better work-life balance. (Source: Boston College)
- Half of all working Millennials believe “switching jobs help you climb the corporate ladder faster”. (Source: MTV)
7. Out of the box thinking
This is a new buzzword that has given a new definition of modern day recruiters. Every organization wants a recruiter who is creative and thinks out of the box. It is important to note that it is not possible to teach people to think in an unorthodox manner i.e.; out of the box thinking. But, if you constantly come up with innovative and out of the box ways to hire candidates, then you will become the “go to” person in your recruitment team.
8. Candidate experience
This buzzword has been around since a very long time. But, recruiters are finding its relevance now. Candidate experience is all about providing an enriching experience to the candidate throughout the hiring process. This includes: providing prompt feedback to the candidate, being responsive to their queries and being in constant touch with them. It is one of the best ways to accelerate your hiring process and increase the acceptance rates significantly.
Statistics Highlighting the Importance of Positive Candidate Experience
- 83% of talent say a negative interview experience can change their mind about a role or the company they once liked, while 87% of talent say a positive interview experience can change their mind about a role or the company they once doubted. (Source: LinkedIn)
- 72% of hiring managers say they provide clear job descriptions, while only 36% of candidates say the same. (Source: Allegis Group)
- 80% of job seekers say they would be discouraged to consider other relevant job openings at a company that failed to notify them of their application status. Yet, they would be 3.5 times more likely to re-apply to a company if they were notified. (Source: Work Place Trends)
- Talent is 4 times more likely to consider your company for a future opportunity when you offer them constructive feedback. (Source: Work Place Trends)
- Nearly 60% of job seekers report having had a poor candidate experience and 72% of them have shared their experience on an online employer review site such as Glassdoor.com. (Source: Work Place Trends)
- The majority of job seekers read at least six reviews before forming an opinion of a company. (Source: Glassdoor)
9. Work-Life Integration
Though we have been using the term “work-life balance” over a decade now it is slowly but gradually losing its prominence in the recruitment domain. Today, recruiters are realizing that achieving balance between professional and personal lives is less realistic. Rather, it has been felt that both professional and personal lives are integrated with each other. This is how the buzzword “work-life integration” evolved.
One of the benefits of work-life integration is that it provides flexibility to the workforce by giving them the freedom of when and where to work. This way they can manage the vagaries of their personal lives more freely. Today, employees might have to sacrifice their personal life by missing a school function of your child to complete an important project deadline. But, tomorrow the organization will pay you an all-paid field trip to take a vacation with your child to your favorite destination. A win-win situation for both the parties!
The Importance of Work-Life Integration to Employees Today
- 53 percent of employees say a role that allows them to have greater work-life balance and better personal well-being is “very important” to them. (Source: Gallup)
- After an attractive salary and long-term job security (58 percent and 46 percent, respectively), 45 percent of surveyed employees note good work-life balance as an important attribute in gauging the attractiveness of an organization. (Source: Randstad)
10. Inclusive workforce
There has been a lot of gung ho about the word “diversity” in organizations. Even the job descriptions have the word engrossed in it. But, the term itself is evolving. Last year, there was lots of propaganda amongst global recruiters in favor of equal employment opportunities.
In the past few months, it has been observed that many forward thinking organizations have started to replace the word “diverse” with “inclusive” in the broad workplace culture statements. This paves way to a new conventional equal opportunity statement that can make the recruiters to come out of their mundane ways of thinking and create creative statement that propagates inclusive workforce.
Why Prioritize inclusive workforce in your organization
- 67% percent of job seekers said that a diverse workforce is an important factor to them when considering companies and job offers. (Source: Glassdoor)
- Prioritizing diversity and sharing these efforts with your employees may also be key retention strategies since 57% of employees want their company to do more to increase diversity. (Source: Glassdoor)
- More inclusive companies have a 2.3x higher cash flow per employee over a 3-year period. (Source: Josh Bersin)
- The most ethnically diverse companies are 35% more likely to outperform the least ethnically diverse companies. (Source: McKinsey)
- Inclusive companies are 1.7x more likely to be innovation leaders in their market. (Source: Josh Bersin)
- Diverse companies are 70% more likely to report that the firm captured a new market. (Source: Harvard Business Review)