While there’s a lot of uncertainty about the pandemic crisis around the globe, one thing is certain: it will change the face of business forever.
While some businesses are currently on hold, others are opening up to new opportunities and revenue streams to get them through this troubling time. But what does this mean for recruiting and hiring? Once the crisis subsides, the use of applicant tracking will be critical. Here’s why.
New Hiring Pool
In March, the US saw over 1.8 million jobs lost while Canada saw over one million. While some businesses are expected to reopen thanks to some of the relief systems put in place, there are some businesses that will never financially recover. It’s expected that when regulations are lifted, there will be many small businesses that remain closed for good.
What does this mean for recruiting? When things start to bounce back, there will be millions of people looking for jobs. This will create a whole new hiring pool and an influx of applications from both qualified and unqualified candidates.
Using applicant tracking is essential to streamline the hiring process. No longer will these systems be used primarily by large corporations. You can expect to see more of this in the industries that were hit the hardest, such as the hospitality industry.
Shift to Remote Work
Remote work was already becoming more prevalent in the business world. Whether it’s bringing together remote teams from around the globe or allowing employees flexibility, remote work had increased 44% from 2014 to 2019.
That number was expected to rise before the pandemic hit. Now, everyone who can work remotely should be. After the crisis subsides, it’s expected that many businesses will continue to follow this business model.
This shift will also expand the hiring pool on a global scale. Using an applicant tracking system will help manage the influx of applications and help hiring managers attract top talent from around the globe.
Hiring Delays and Freezes
Many businesses have put their hiring efforts on hold during the global pandemic, and for good reason. Hiring is a costly endeavor, and the impacts on the supply chain and demand for goods and services has changed.
Using an applicant tracking system can help streamline hiring after the rebound comes into effect. It’s likely that hiring managers and human resources professionals will need some time to find their footing in the new world. Having this system in place can assist with human resources management.
Additionally, having applicant tracking in place will help bridge the gap between the before and now. If there were high-potential candidates in the process of being vetted before the hiring freeze, this system could ensure they don’t need to reapply or get lost in the shuffle.
These difficult times have encouraged many business owners and key decision-makers to embrace technology. Implementing an applicant tracking system for when the crisis subsides is a smart, forward-thinking way to help reinstate the employment rate and find the right person for your business.