In the UK, the recruitment industry is massive and worth more than £35 billion to the nation’s economy. The industry is capable of adapting to the changes around, explaining why it is growing and thriving while other areas of the UK economy are struggling.
But the recruitment industry is becoming disrupted by new technologies. So, if it wants to continue its growth, the industry must embrace the technology to stay ahead. Here are some trends that it will experience in 2019.
Artificial intelligence will disrupt recruitment
Artificial intelligence (AI) is already disrupting many industries and offers organisations new technological opportunities. With artificial intelligence, manual and labour-intensive roles can be eliminated.
Recruitment is an industry where AI has had quite an impact. The recruitment process can be time-consuming, with organisations sometimes losing out on talent because of the time it takes. This is often seen in procurement recruitment, even if the jobs are interesting and challenging.
Today, recruitment agencies use chatbots more often, and it is expected in the coming year that more recruiters will use AI to find out what jobs potential candidates are seeking. It will allow AI to lead candidates to the hiring process.
Big data will play a major role in recruitment
While analytics have long been part of recruitment, big data is a new technology. Recruiters are looking to combine it with artificial intelligence to improve the recruitment process internally and accelerate it. Large brands are already using analytics and algorithms to attract new talent, which is a shift from the traditional method of recruitment, using phones or face-to-face interactions.
Organisations are using algorithms and analytics to identify prospective candidates long before they make contact with them. It is certain that large companies will include big data and analytics in their recruitment processes in the coming year.
The GDPR effect
With the General Data Protection Regulation (GDPR) coming into force, recruitment agencies will focus more on their data processes as they store personal data of candidates. The regulation will also impact procurement, and companies will look for candidates who are aware of the intricacies of GDPR and the effect it can have on procurement processes and supply chain.
Organisations that do not conform to the stringent data protection requirements of the GDPR risk paying a fine of €20 million, or 4% of their annual turnover.
These are some of the main technologies that will impact procurement jobs and the recruitment industry in 2019.
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