Online platforms are changing the recruiting game, making it easier than ever for companies to find qualified candidates. Attracting talent has historically been a considerable difficulty for human resource departments and recruiting teams, but in today’s technology-driven world, social networks are providing a bounty of qualified candidates. These tools are also a double-edged sword; HR and recruiting teams are sifting through far more candidates and so are their competitors, so finding candidates can be even trickier.
A McKinsey report from 2015 predicted that online talent platforms will be worth a total of $2.7 trillion and will have created 72 million jobs. Talent platforms can be broken down into three basic categories:
- Profile aggregators like LinkedIn, Glassdoor, and Vault, which provide search engines to find candidates with specific skills and experiences.
- Digital marketplaces to hire for freelance services and temporary jobs like Angie’s List and Amazon Home Services
- Talent platforms, a broader category that includes consultancies and specialist providers like LineHire, which help connect companies to candidates and allow them to assess their abilities and skills.
Online recruiting provides a major advantage over traditional methods; the pool of candidates is exponentially larger meaning that companies have a wider range of options and are more likely to find more qualified candidates. This also reduces the time and costs of going through several candidates, because everything is done digitally. Potential employees also benefit; they have access to a greater variety of job options and can speed up their job search.
On the other hand, this makes the job of the human resource department that much harder; they must be able to understand the massively larger talent pool and be able to decide which candidates are stronger, and they must have a proper strategy in how they go about finding candidates with so many recruitment options.
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