Data, Diversity and VR: Hiring Trends of 2018

by Knotel: Aug 10, 2018

We recently passed the halfway point of 2018, and we’ve begun to reflect on the various changes we’ve seen in hiring — and predict where recruitment may be headed. Let’s look at a few key hiring trends we’ve noticed and explore how they may impact future hiring practices.

  1. Millennials are driving companies forward

There’s no denying that millennials are changing the future of work. They are the first generation to grow up as “digital natives,” which means they are fantastic multitaskers and independent thinkers. They also are often keen to figure out how to solve complex problems. Millennials may be the push your company needs to get unstuck, start dreaming bigger and shift toward today’s best workplace trends like focusing on innovation over comfort level, respecting everyone’s identity or even thinking about the small details, like finally getting cold brew on tap.

  1. Diversity and inclusion are becoming non-negotiable

Though diversity and inclusion used to be all talk, we’ve noticed that several companies are finally taking action. Businesses that are ramping up their D&I initiatives are noticing increasing evidence that diversity is tied to creating a welcoming company culture and prosperous financial performance. According to LinkedIn, 78 percent of companies prioritize diversity to improve culture, and 62 percent do so to boost financial performance. Companies like Deloitte and the BBC are also implementing software that removes candidates’ names from resumes, so there’s no room for potential bias.

  1. Technology is changing the way we assess candidates

The paper resume is slowly being shredded to bits as more companies rely on virtual reality (VR) and video interviews to narrow the candidate pool and test skills in a standardized manner. Companies like Lloyds Banking Group are slowly implementing VR to immerse candidates in simulated environments to see how they react to scenarios that they may encounter in the workplace, while video interviews have begun to attract a more diverse pool of applicants while increasing efficiency and transparency for hiring managers. Of course, many businesses have also been using artificial intelligence to automate candidate searches and quickly zero in on candidates that match their criteria and keyword descriptors.

  1. Data is a defining key in unlocking the door to top talent

According to Global Recruiting Trends, you can count companies like Novartis, Nielsen, JetBlue and more among businesses that are using data to make a difference in their hiring process. Companies are using data to predict hiring outcomes rather than simply tracking them. This technology allows recruiters and HR personnel to turn to data machines that can predict the viability of a candidate rather than simply going with their gut. Much like content strategy and events strategy, businesses are beginning to implement a talent intelligence strategy too. Accordingly to LinkedIn, recruiters and hiring managers are even more likely to use data in their work over the next two years.