It is fair to say that 2020 shook recruitment (along with most other sectors) to its core. Accelerated by the COVID-19 pandemic, changes to the recruitment industry that were expected to take years have happened in mere months.
But now that we are almost halfway through 2021, are these changes likely to stick around?
Out of necessity, many employees were forced to work from home for the majority of last year. But this necessity has created new opportunity, with many companies realizing business can carry on, as usual, no matter where their teams are based. Now, many organizations are adopting an increasingly hybrid approach to the workplace.
As such, the definition of ‘workplace’ has changed dramatically — a lasting change that will undoubtedly continue long after the pandemic is over.
But what does this momentous shift mean for financial and accountancy recruitment going forward? In short — digitization.
The rise of hybrid working
Thanks to the pandemic, the traditional hiring process has been flipped on its head, with many recruiters (and clients and candidates) scrambling to adapt to a fully remote experience. But remote work has become the new norm for many, meaning virtual recruiting is not going anywhere.
The past year has seen many companies take a haphazard approach to recruitment, attempting to hastily fill talent gaps in a panic. However, digital hiring solutions such as online assessments and video interviewing should not be seen as a short-term patch for the COVID-19 era. Instead, they should form part of a long-term hiring strategy. Virtual recruitment requires just as much care and attention as traditional hiring options, and retention should always be a top priority. The cost of a bad hire is monumental, so it is essential to get recruitment right the first time.
With hybrid working on the rise, many firms are now also casting the net wider when recruiting new hires. As a result, recruiters must adopt hiring technologies such as artificial intelligence (AI) and automation to enhance the recruitment process and improve efficiency when sifting through a larger candidate pool. For instance, algorithms and AI can automate the CV screening process to ensure all candidates are replied to and even schedule interviews. Candidates expect a smoother experience when applying online, and in 2021, there are no excuses for clunky application processes or not getting back to candidates.
However, despite advances in technology, it is vital to keep recruitment personal. Attention to candidates makes for a lasting workforce, which is why an effective hiring process should still include people at both ends. Rather than replacing human connection, intelligent automation should supplement the recruitment process by filtering through data quickly, transparently, and without error.
On-screen talent assessment and selection
Although the recruitment world has changed dramatically over the past year, the hiring process itself still follows the same steps — albeit with some adjustments to ensure the caliber of hires when recruiting virtually.
Social media and online job sites have long played a crucial role in sourcing candidates and will be instrumental in remote recruiting, opening up an entirely new world of finance and accounting candidates to consider. For senior positions which may not be advertised due to sensitivity, recruiters can also use social media platforms like LinkedIn to ‘headhunt’ talent, combining their connections and expertise to source the best candidates for the role.
Given that new hires are now less likely than ever to engage with recruiters face-to-face before onboarding, post-2020 recruitment must also be able to assess and select talent effectively from a distance. As a result, there is a growing demand for online psychometric and aptitude assessments as recruitment tools. When recruiting remotely, it is also important to translate the organization’s culture and values into tests or surveys to determine whether a candidate is a good ‘fit’ and will stay with the company.
Even with advancements in technology, this screening process can take a long time and requires close attention to detail to ensure only the best candidates with the relevant qualifications and skills for the role are put forward to the client.
The final hurdle
With remote hiring becoming the norm, we can expect to see in-person job interviews become a later stage of the recruitment process when both the recruiter and the candidate are sure the role is a good fit.
It is, therefore, vital for recruiters to maximize new assessment tools available to facilitate virtual recruitment. Unlike email or telephone interviews, video interviews give the recruiter a more comprehensive perspective of potential candidates. With video conferencing now widely accepted, the interaction can still be personalized and used to establish a connection. As there is no travel involved with digital interviews, they are also easier to schedule and can be recorded and shared amongst relevant stakeholders (with the candidate’s permission) to enhance the selection process.
Plus, everyone’s time is precious. From a candidate’s perspective, it is much easier to find the time for a virtual interview, meaning they can accommodate availability sooner than in person. With the traditional recruitment process, many hybrid candidates would discount themselves due to availability and having to come up with a plausible reason as to why they were not present at work. With virtual recruitment, this is no longer a problem.
Taking the recruitment process further
To ensure the quality of new hires, it is imperative that organizations take the time to adapt the traditional hiring process to the new, more digital way of working.
But why stop once new hires have accepted the job offer? In order to retain these recruits, equal efforts should be put into post-hire talent acquisition as the pre-hire onboarding process.
When done right, remote recruiting can not only save time, free up resources, lower hiring costs, and provide opportunities to broaden the pool of candidates — but it can also ensure companies RETAIN staff.
After all, is that not what good recruitment is all about?
With over 50 years of experience, Howett Thorpe has evolved to become one of the South East’s premier accounting and finance recruitment agencies — offering workforce solutions across multiple specialisms. The agency also has a strong foothold in practice and business support roles, such as office admin and HR.