Dec 11 2019
“Recruiters are experiencing a significant shift in the market that now prefers to hire professionals for ‘gigs’, rather than permanently. This can be accounted to the changing preference of the millennial leading to boom of the ‘freelance market’.”
Most seasoned high-volume recruiters understand that Time to Hire is the single most important hiring metric. Time to Hire in itself is important as business always need candidates like yesterday. Most high volume recruiters are in businesses where either you have a large field workforce and if you do not have enough people on the field at any given point of time your ability to sell or service is limited or you are a services business where your resources are billed to the end customer and if you do not have enough resources on payroll you are losing revenue.
But Time to Hire is important not just by itself, it also impacts all other key hiring metrics- Quality of Hire, Candidate Experience and Cost per Hire. We will discuss each of these below.
Meanwhile, the working-class demographic is undergoing a massive transformation with digitally native Millennials entering the workforce. Statistics show that Millennials will constitute 75% of the working demographic in the United States by 2030. As far the Indian market is concerned, the gig economy is expected to account for 43% of the workforce by 2020. 52% of the private workforce has spent time as independent workers at some point in 2018.
The biggest surprise that the millennials bring is different, however. Recruiters are experiencing a significant shift in the market that now prefers to hire professionals for ‘gigs’, rather than permanently. This shift can be accounted to the changing preference of the millennial. This change brings in the obvious boom of the ‘freelance market’.
While hiring in the freelance market, it is important to keep the time to hire minimal. The reason is simple- this is because recruiters cannot simply afford to waste one month recruiting for a role that has a life cycle of only three months.
Instahiring is envisioned as the fastest way to hire for enterprise employers across the globe. It makes this possible for employers through a combination of three techniques- automation of routine recruiting tasks, enabling anytime-anywhere screening and capturing & reusing data across the hiring process or Remote-Automate-Reuse in short. Here’s how it’s done.
Traditional hiring methods usually involve the following steps:
Instahiring procedure will involve the following steps that drastically reduce the time to hire:
So how does Instahiring experience surpass traditional methods of hiring? Well, the difference is simple.
Instahiring is envisioned as the way to find quality talent in the fastest way possible. With Instahiring, we welcome the future of recruitment!!
Sanjoe Jose is the Chief Executive Officer at Talview. He is a serial entrepreneur with ventures in Enterprise SaaS and Consumer Internet domains. Previously, he has worked with MNCs like National Instruments and L&T. He is an Engineer and MBA from IIT Bombay. He is passionate about using AI to solve enterprise business problems. LinkedIn
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