Even with the Labor Department’s announcement of over 163,000 jobs being added to payrolls in July, which is a very small step in the right direction, there is a high unemployment rate, and paradoxically, a qualified candidate shortage. Even with more than eight percent of the labor force being unemployed, and almost double that being underemployed, large companies still have trouble finding quality candidates for their open positions.
Of course, each industry has been affected differently by the recession and the unemployment rate is not uniform along them. But, overall, most large companies in the fields of technology, medicine, retail, entertainment, finance, and insurance are having difficulty finding qualified candidates to fill job openings. The lack of quality talent leads to job openings not being filled for an extensive period of time and therefore greater losses for the companies.
In order for companies to stay ahead of the competition, in their respective industries, innovation, especially in their hiring process, is necessary. Just like candidates looking for jobs must diversify their search, companies too have to adapt to the changes in the recruitment process and use unique approaches to find the ideal candidates.
The new age of hiring has been ushered in by the creation of several online staffing marketplaces. Technology and social networking have revolutionized the HR industry to help companies find quality talent cost and time effectively. Instead of spending time and money trying to find and recruit candidates, companies can enlist staffing marketplaces to do the job for them.
In the past, companies were burdened by the hassle of working with numerous recruiters and suppliers and used valuable time and resources to deal with large amounts of individual paperwork and billing invoices. Recently, there has been an influx of revolutionary HR technology that goes above and beyond the standard realm of staffing. With the introduction of cloud-based technology, companies are now able to streamline the talent acquisition process and allow large companies to deal with only one point of contact for all of their recruitment and hiring efforts. Some websites even offer the option of using them to manage interviews, invoices, project-wise spending reports, hiring history, and background checks.
Independent recruiters, now more than ever, have the ability to grow and promote their own business by using new online staffing solution websites. They can provide them with administrative assistance and ample databases of both employee and employer listings.
Technology has influenced the HR world so profoundly that it is nearly impossible for a company to function successfully without it. The integration of online staffing into the traditional recruitment process is changing the way the HR world operates, resulting in a more streamlined, efficient, and productive industry.
Who’s The Guest Aristocrat?
Rahul Jain is the CEO and Founder of Bitsoft which provides complete staff augmentation solutions to the clients for all their contract and permanent needs. SkillGalaxy, a service of Bitsoft International, is an online staffing marketplace that uses technology and social networking to help companies find and recruit quality candidates.
Rahul Jain, President and CEO
Bitsoft International, Inc
2272 W. 95th St.
Naperville, IL-60564, USA
*The Aristocracy of HR” does not endorse the product/company listed above. This guest post is purely for informational purposes.