The pandemic has affected nearly every aspect of day-to-day life. In business, it’s changed the way companies work, and, as entrepreneur and CEO of Everest Business Funding, Scott Crockett explains, it’s modified the way companies are recruiting and hiring.
Seemingly overnight, businesses were forced to adjust to a global pandemic that disrupted how nearly everything was conducted on a day-to-day basis. Employees dispersed from central offices to disjointed home offices. Almost every department and task had to be converted to digital means if they hadn’t already.
Because of the pandemic, companies have also changed how they approach recruiting and hiring. Here are some examples of exactly how the pandemic changed hiring.
Trend #1. Companies Turned Inward
The pandemic has made in-person interactions much tougher, if not impossible, in many cases. In-person interviews have long been a staple of the hiring process to establish trust and confidence between candidate and manager.
With that gone, for the most part, companies have turned inward for hiring. According to data compiled by LinkedIn, since the beginning of the pandemic, internal mobility at companies has increased by 20%.
Companies are looking to their current employees who they already know and trust to take on bigger roles. And in preparation for that, they’re also dedicating more time and resources to learning and development.
Trend #2. Candidate Pools Expanded
Remote work became a standard during the pandemic, and it is likely to stick around at least in some form when it’s over. One of the side benefits of this is that the pool of candidates available to companies has expanded.
With many positions remaining remote permanently, there isn’t a strong need to hire physically located within commuting distance to an office. This expands the potential pool of candidates that companies can choose from and the list of potential companies that candidates might work for.
In theory, this could benefit businesses as they can attract much more talented individuals.
Trend #3. Job Postings Changed
One of the things that the pandemic has emphasized is the desire for a work-life balance. Many people who were forced to work from home found their personal and professional lives often blurred together. Many also found that the workday never seemed to end.
As a result, more employees prioritize jobs that allow them to achieve their optimal work-life balance and companies that value this. Businesses are recognizing this, too, and adjusting their job postings to resonate with candidates this way.
Much more time, effort, and space are dedicated to company values and culture, while benefits and compensation are taking a back seat. To learn more about how to reward your employees, visit https://newamericantruth.com/scott-crockett-explains-rewards-program-isnt-viewed-as-playing-favorites/.
Trend #4. Hiring Times Decreased
Like many other aspects of the business during the pandemic, technology has helped companies decrease their time allocated to job hiring. As Scott Crockett explains, the proliferation of, and familiarity with, videoconferencing technology has reduced how long it typically takes for a company to interview all candidates.
Instead of spreading out interviews over weeks at times based on when candidates could make it into the office, videoconferences can be set up in short succession at various times of the day.
One aspect of the pandemic-era business is likely to remain, and many companies are happy about it.
About Scott Crockett
Scott Crockett is the founder and CEO of Everest Business Funding. He is a seasoned professional with 20 years of experience in the finance industry. Mr. Crockett’s track record includes raising more than $250 million in capital and creating thousands of jobs. Scott has founded, built, and managed several finance companies in the consumer and commercial finance sectors.