September 2023

Rely on Data for Insights Recruiters need to rely on any data that gives insightful information on the ongoing state of hiring. Such data is important to pursue an effective practice on employee turnover and skill gaps, and also drive other productive improvements. In other words, by implementing a well-designed strategy for candidate analytics, businesses can thrive to target challenges that occur during the recruitment work and address them punctually and efficiently. Data collection and analysis are also important to figure out the ongoing trends in talent demand and supply so that you can personalize your process accordingly and gain a competitive advantage in the market for that talent. Therefore, all of this calls for a data-backed recruitment model. Rely on Data for Insights Recruiters need to rely on any data that gives insightful information on the ongoing state of hiring. Such data is important to pursue an effective practice on employee turnover and skill gaps, and also drive other productive improvements. In other words, by implementing a well-designed strategy for candidate analytics, businesses can thrive to target challenges that occur during the recruitment work and address them punctually and efficiently. Data collection and analysis are also important to figure out the ongoing trends in talent demand and supply so that you can personalize your process accordingly and gain a competitive advantage in the market for that talent. Therefore, all of this calls for a data-backed recruitment model. Have an Advanced Job Pipeline When creating a job pipeline for hard-to-fill roles, you should be prepared with advanced strategies to achieve your goal of finding the right candidate and there are many ways to do so. One such way is built out of Artificial Intelligence (AI). It is important everywhere to incorporate AI in today’s day and age, especially in the hiring industry. Therefore, you would prefer automating your personalized outreach with candidates through Chat Bots powered by AI which can take care of common and repetitive queries. There are also various AI-powered platforms for outsourcing interview services that streamline the recruitment process easily and help you find qualified individuals via online interview assessment in a very short duration of time. VProPle is one such platform prospering in the area of interview outsourcing that makes use of the latest technology and tools to provide the best in class facilities. The rate of global talent shortage has risen to an all-time high every year since 2019. Many factors like the inability of employers to find the right fit for their organization and the departure of the people that retired during COVID-19 have elevated the level of this crisis. We can say that efficient recruitment either directly by the company or from interview outsourcing can indeed mitigate the effects of talent shortage by actively seeking out better approaches to hiring, incorporating better technology, and using data analytics to scoop out opportunities to ease the search for the best. It is likely that the huge void of skilled labor in the global job market will lead to adverse effects on the international economy in the coming years. Therefore, employers need to step up in the wake of the fact that the problem is much bigger than their organization’s interests and take stern control of the hiring process. One can also outsource technical interview services to speed up the process. The process of recruiting the right fit for your company is more intense than ever before, and the need for highly qualified professionals who would fit with their goals & values is growing exponentially across the world. But the supply is not even closer to the demand, especially in the knowledge-intensive industries like IT and Finance where you can find at least a 73% talent shortage globally. In almost all the sectors, there’s an average of 77% talent shortage worldwide. If you ask why these concerning stats are present, the biggest reason can be that every 4 out of 5 employers report difficulty in securing qualified professionals for their respective organizations. In short, talent shortage can be the biggest incoming threat for companies at all scales and across all industries in the coming years. The talent shortage for 2023 is already at an all-time high from the last 17 years.  But what can we possibly do about it? Firstly, there are a lot of other factors that cause talent shortages besides the difficulties faced by employers in finding the right talent. We will discuss those causes as we move forward. Secondly, this blog will also cover the possible solutions that can provide much better access to employers to secure the best talent either by yourself or by outsourcing technical interview services, hence answering what we can do about talent shortage. So let’s dig deeper into the issue without any wait now. Causes of Global Talent Shortage There are multiple causes majorly based on what employees or job candidates of different age groups bring to the table in terms of challenges for the recruiting team of any organization around the world. These are-