How can technology help recruitment businesses succeed in a competitive marketplace?
Competition amongst recruitment agencies has never been fiercer. In 2017, the industry’s turnover was £32.2bn but there are over 25,000 individual businesses – making it one of the most crowded markets in the UK.
With so many companies operating within the same space, it is important now more than ever that recruiters deliver maximum results with minimal investment. New technologies can play a huge role in achieving this.
Research what tools are out there
To truly cut through and stand out from other firms, a priority should be researching the tools they could introduce to step up business productivity. This is especially relevant for the smaller and younger agencies that perhaps face even more of a challenge than the more established organisations. For example, small recruitment agencies tend to have fewer administration staff and recruiters find they are weighed down by tedious yet lengthy tasks such as diarising meetings and sorting through databases. This gives them less time to fight for new business opportunities, delight current clients and get their candidates placed.
The good news is that technology is evolving in such a way that the admin load can be lightened without a huge investment. Implementing a well thought through recruitment technology stack enable consultants to spend less time taking notes, or updating records.
Embrace the wave of new technology
So many organisations out there are seeing AI and machine learning as a threat, but this new wave of tech actually opens up opportunities.
An example of this is the way in which AI can automate low-level tasks. Take activities such as scheduling interviews and ranking candidates, there are systems that manage all of this for a recruiter so they can focus on higher priority work like sourcing candidates and building relationships with new clients. Additionally, systems equipped with AI can automatically review a new CV and assess which consultant to share the new candidate with based on their experience – a massive time saver for recruiters.
AI can also add another layer of personalisation to conversations with candidates. There are platforms available that use this form of tech to provide live prompts during phone conversations. With features like this, recruiters can be reminded of crucial details that could easily be forgotten because of the amount of people they speak to each day. This can prevent awkward moments during what should be productive conversations – for example forgetting a salary offer or even something on a more personal level.
Don’t wait for the competition to outperform your business
With so much technology now available to recruiters without the need for large investment, companies who take this seriously will reap the rewards. Come and speak to me or the rest of the 8x8 team at Bullhorn Engage this year to find out more about the technologies that can improve your business’ productivity.
Bullhorn Engage is taking place on 11th and 12th September at Hilton London Metropole.