SALT LAKE CITY, UTAH, Feb. 23, 2022 (GLOBE NEWSWIRE) -- HireVue, the global leader in video interviewing, assessments, and text-enabled recruiting tools, today announced the findings of its annual global trends report, with key insights into how leading companies are relying on technology to navigate an increasingly competitive labor market.
The annual survey asked more than 1,600 hiring leaders across industries including finance, retail, construction, healthcare, and manufacturing how they are navigating current challenges and what changes they’ve experienced over the past year. The number one issue continues to be filling roles quickly, and companies are leaning into technical solutions to find savings. Respondents who adopted text and chat tools, a skills-first approach and a blend of virtual and in-person touchpoints report:
- 54% experience greater flexibility
- 54% report time saving benefits
- 43% say it’s easier to identify the best candidates
- 42% say they’ve delivered significant cost savings
“This year’s survey demonstrates that standard challenges (like time-to-fill) are still a top concern, but factors beyond any company’s control like the Great Resignation and a lingering pandemic are making them even more daunting,” said Anthony Reynolds, CEO at HireVue. “It’s encouraging though that when you drill down into the data, companies are solving talent bottlenecks with a forward-thinking approach to technology, coupled with a continued prioritization of diversity and belonging - these strategic decisions are helping respondents with both hiring and retention.”
Hiring Tech Removes Roadblocks Amidst Mass Resignations
As businesses begin another year where flexibility is paramount, talent teams are using every tool at their disposal. Leaders who are meeting hiring demands more successfully — and more quickly — made the following changes just in the last year:
- 57% introduced job-matching technologies to recruit both externally and internally
- 37% moved to a combination of both in-person and virtual interviews
- 24% implemented technologies such as AI, chatbots, and skills assessments
In spite of successful and widespread technology adoption, recruitment approaches with no correlation to job performance or a candidate’s skills remain. Over a third (38%) of hiring teams report continuing to make hiring decisions based on gut instinct. Another third (31%) hire based on personal connections. These tactics do not create a fair or equitable hiring process and moving away from subjective measures combined with the right tools will help companies find more qualified candidates, as well as meet DEI&B goals.
Companies that Prioritized DEI&B Efforts Experienced Lower Turnover in 2021
Motivated to mobilize for change in regards to diversity, equity, inclusion and belonging, talent leaders around the world set impactful goals in 2021. Perhaps most significant in the context of rampant employee turnover, companies with lower attrition reported doing more to reach DEI&B goals. Companies putting words into action also:
- Focused on overhauling how candidates are evaluated. This included adopting a skills-first approach (45%), replacing resumes with skills-based assessments (33%), dropping college degree requirements (16%) and prioritizing bootcamp certification, rather than excluding candidates without degrees (18%)
- Sourced qualified candidates from marginalized and overlooked workgroups, including mature-aged workers (47%), undergrad workers (44%), and junior workers (38%)
The 2022 Global Trends Report demonstrates how best-in-class hiring combines technology with an eye toward equity. To access the full report, click here.
About HireVue
HireVue is where hiring happens – transforming the way organizations discover, engage, and hire the best talent. Connecting companies and candidates anytime, anywhere, HireVue’s industry-leading end-to-end hiring platform features video interviewing, assessments and conversational AI. HireVue has hosted more than 26 million video interviews and 150M chat-based candidate engagements for over 800 pioneering customers around the globe.
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