How automated tools can help with changing talent strategies with inflation and recession disrupting talent market
The talent market has been volatile over the past few months as the impending recession has hampered recruitment. A full-fledged recession could affect hiring plans and alter customary hiring procedures. In addition, the most recent study conducted by the multinational professional services company Aon Plc has shown that India experienced an attrition rate of 20.3% in the first half of 2022, a marked increase following the two-year COVID pandemic-induced lockdown. Despite this, businesses are able to survive by employing a strategy that was started in the year 2020 because of the Covid-19 pandemic, which fully utilises technology. Companies that intended to keep recruiting during the lockdown were forced to modify their employment procedures and adjust to the new standard of living. Companies had to switch to virtual recruitment in order to safeguard the health of their recruiters, candidates, and families.
For most businesses, it was extremely difficult to completely shift the recruitment process online. Some businesses, however, only needed to make a few modest adjustments to their hiring processes. The way these two kinds of businesses used technology was different from one another. Let’s examine some of the most important ways that this innovation is enabling recruiters to maintain a talent advantage over their rivals.
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