Even as some businesses reduce headcount, others are still going ahead with their hiring plans. However, with COVID-19 changing the way we work, the hiring process is also undergoing a massive change. Let’s find out…
With the COVID-19 pandemic taking a toll on the economy, the job market is under immense stress. Businesses are facing huge losses, stock markets are crashing and companies are finding it hard to sustain. Disrupted supply chains have left retail outlets as well as production lines high and dry. The resulting lockdowns has resulted in massive layoffs, pay cuts, and freeze on hiring. This has added to the woes of India’s already distraught employment scenario.
Vikram Ahuja, Co-Founder, Talent 500 by ANSR, shares his thoughts about hiring patterns with Deccan Herald. He predicts non-essential hiring will slow down for the next few months as companies will take a conservative approach.
Watch: Google Will Slow Down Hiring
Hiring in COVID-19 universe
While many companies have put their hiring plans on hold, some are still hiring. In fact, there has been a surge in demand for trained professionals from sectors like health, e-commerce, logistics, and technology. This is because people are taking shopping and other activities online. Hence, it is important to continue the hiring process even during COVID-19 to meet their demands, generate income, and give a boost to the economy.
Moving forward, let us understand the benefits, difficulties and best practices of hiring:
Benefits of hiring
Hiring good employees will help your company grow. Getting more people on board will increase productivity and hence earn more money. Also, new people come with new ideas, skills, knowledge and experience that will help any business to expand. A new employee also brings a unique value proposition that can help you in the long run. Hiring also gives a chance to previously unemployed workers to earn salaries that give a boost to consumer spending. This, in turn, benefits other businesses that depend on consumer sales to stay open and pay vendors, says a report on Small Business Chron. This helps in circulating money in the marketplace which enables more businesses to thrive and boosts the economy.
Best hiring practices
Hiring the right candidate is a very challenging task. The right candidate brings more productivity, enhances your work culture, and gives a boost to the morale of others. Here are tips to hire the right candidates:
- Define the job before hiring an employee: Have a precise job description that also entails responsibilities, required skills, outcomes, and work environment of a particular job.
- Choose where to advertise: Think about what will be the best platform to advertise for the job. Do you want to post it on job portals, LinkedIn, or get specialists to help like recruitment agencies, who can help you find the candidate that ticks the right boxes.
- Use a checklist for hiring the right employee: According to a report in The Balance Careers, a checklist will help you systematize your process and help you track your progress.
- Review applications wisely: Screen all applicants against the list of skills, qualifications, experience, and characteristics that you have enlisted in your JD.
- Prescreen your candidates: This can be done either by a written test or a telephonic interview.
- Ask the right questions in job interview: Once a candidate is shortlisted, ask them questions that will differentiate an average candidate from the desirable one. The job interview ensures that you hire the correct employee.
- Prioritize candidates who have done their research: It is always beneficial to hire candidates who have done thorough research on your company, products, and the industry.
- Check backgrounds and references: One of the most effective hiring practices is to have an effective background check for hiring an employee. You need to verify that all the information provided by the candidate is actually true.
- Make the hiring process human: Have an empathetic approach towards hiring. Always inform the candidates who have applied for the job to make them feel valued. Even those candidates who have been rejected deserve proper communication and feedback.
Thought it is advisable to hire experienced professionals, there are many companies that prefer freshers for certain roles. They feel fresh graduates are keen to learn more, can be hired on a lower salary, and are willing to adapt.
Redefining recruitment during COVID
Like most of the other things in our lives, hiring has also gone digital. Recruiters are adapting to the new normal by leveraging analytics tools to screen the right candidates.
They are also taking the help of artificial intelligence to reach out to potential candidates. “This crisis has led us to reimagine recruiting,” Michael Wright, Global Head of Talent Acquisition for GroupM, tells CNBC. He adds that his company has adapted its AI-driven video interview tools to be more contextual and empathetic during the crisis. These tools are more effective in judging what candidates can do than on what they have done.