Using information gathered from inside sources, the headhunter would research the industry, the hiring company and the competition to build a list of specific qualifications and candidates with those qualifications. These headhunters would then use their network of informants to connect with these candidates and convince them to accept the position, including assisting with everything from the interview to the negotiation and their resignation from their previous job.
This is all changing in the age of the digital business and as new systems becomes more accessible to hiring managers. New data from Jobvite suggests that the percentage of interviews-to-offers has grown 10 percent in the past year due to increased use of machine learning technology.
To understand the trends for recruitment, Nick Cromydas, CEO and Founder of Hunt Club, a recruiting service that uses machine learning to find passive talent, tells Digital Journal what the implications of the these emerging technologies are.
Digital Journal: How is technology reshaping the recruiting industry?
Nick Cromydas: Technology can reshape the recruiting industry by focusing on solving 5 questions. The first is who is the right fit for a role – using different types of AI and machine learning, firms can deduce what profiles, skills and demographics one should be targeting for a role to be more efficient and drive better results.
Second, how to reach and access a candidate so they listen – by using different types of tools and technology to power referrals networks, you can reach out to candidates in places where they’ll actually listen now that LinkedIn is so saturated. Then you can use technology to better track who is interested and build a better mousetrap than other search firms.
The third is how do I give my services team the tools and technology to be more efficient – today’s recruiting world is full of manual data input, outreach, and status updates. Firms should be investing in a suite of tools to automate the mundane day-to-day tasks that are eating away at their profitability margins.
Fourth,m how do I use metrics, KPIs, and systems to measure searches – you can’t track what you can’t measure, and most firms have very loose terms around operating structure and are not effectively measuring the progress of their searches and how their business is performing. By building in tracking systems and metrics, you can course correct and modify a search process as needed to be successful.
Fifth and finally, how do I invest in technology to create a better candidate and client experience – continue to invest in tools to make sure you are communicating with and breaking up with candidates effectively, providing proper feedback to both the candidate and client, and delivering the client adequate information at the right times – all allowing you to build a superior company.
DJ: How can machine learning help with executive search?
Cromydas: If you think about every search, there are cues that you can pick up on how a candidate performs based on the type of company, the type of role, company size, industry, location, other variables. By intelligently matching how your candidates progresses in a process against the opportunities you’re working on, you can expedite the speed to find amazing people for opportunities.
DJ: Is there still a role for the more traditional head hunter?
Cromydas: We think there will always be a role for a person to perform recruiting services, but if a traditional headhunter doesn’t adapt to new technology, service and processes they will be left obsolete.
DJ: What should companies be looking for in a recruiting agency?
Cromydas:Someone that is differentiated, someone who cares about their brand and their performance, someone who can be as much consultant as they are headhunter.
DJ: What services does Hunt Club offer and which technologies do you use?
Cromydas: Hunt Club is a tech-enabled recruiting service that connects companies with Influencers to attract world-class talent. We invite the well-connected to provide access to their network. Using machine learning, we will scan their connections to find passive candidates for open positions. In exchange for providing a warm introduction, Hunt Club will reward these influencers depending on how far the candidate advances in the interview process. Hunt Club can help any company looking for innovative talent grow quickly with a network of world-class candidates at their fingertips.
