A lot can change in a decade and thanks to technology, many industries have experienced a huge amount of exactly this. Some have grown, some have become obsolete and some have completely transformed.
One of the many industries which has been greatly affected by technology is recruitment. Whilst many thought that the likes of online job boards and social media sites would spell the end for recruitment agencies, they have actually helped them go from strength to strength. How exactly has the recruitment industry changed over the last 10 years however?
Recruitment is faster
Way back in the day, recruiting someone into a role was a long and arduous task. The only way to communicate between clients and candidates was via post or landline. With most people at work during the day, this made it very difficult to arrange interviews, collect feedback and make negotiations during the offer stage. Start dates were often delayed as well because offer letters and contracts had to be posted, signed and then sent back to the employer.
Nowadays however, thanks to mobile phones and emails, it couldn’t be easier to get hold of people regardless of where they are or what time of day it is. Important documents can also be emailed and signed off in a matter of minutes which means that it’s now not that uncommon for candidates to start new jobs immediately.
Talent pools are larger
Before technology, recruitment agencies were limited to the candidates who came into their office to register. This meant that they were entirely dependant on their database and if they had nobody suitable for a particular role on their books, they would more than likely lose out to a competitor.
Nowadays however, recruiters have access to an endless supply of candidates which means that they can source incredibly high quality employees. Online job boards and social media sites open recruiters up to people they never would have had access to 10 years ago.
Candidates have become more pro-active
If someone was looking for a job a decade ago, their best option was to register with as many agencies as possible and hope to eventually get a call about a prospective job. This was incredibly limiting and not to mention time-consuming.
This is a stark contrast to the online world we enjoy today. The Internet allows candidates to have more control over their job search and be a lot more pro-active about it. Rather than sitting around and waiting for a phone call, job seekers can apply to as many vacancies as they like and even contact companies directly.
Image is now everything
One thing that the Internet has given us less of is privacy. This means that both candidates and companies now have to really think about how they’re presenting themselves to the world.
Candidates are strongly advised to manage their social media profiles with caution because potential employers can and will try to find them online before making an offer. Websites like Glassdoor also require companies to think about how they’re being perceived by their staff and job applicants because everything from pay to employee satisfaction can be found at the click of a button.
If you would like help filling your next finance role, please feel free to contact Choralis Consulting and we will be more than happy to help.