Uncertainty is one of the most difficult things for humans to manage. Ditto for organizations that must carefully and precisely invest in their future. The question becomes: How can you plan for the future during uncertain times?
The impact of coronavirus differs across industries, making everyone’s situation a bit different. But one thing we all have in common is that in times of uncertainty and stress, careful analysis of one’s situation and the sharing of information are essential to the decision-making needed for survival.
With that in mind, my firm recently surveyed talent acquisition professionals to learn how COVID-19 has impacted their current and future hiring programs. Looking at our survey results within the context of facts, information, and stories being reported in the media helps highlight what we know and what we don’t know about the impact of the pandemic. All of which is critical for decision-making, especially when it comes to hiring.
This pandemic will create lasting impact — as past pandemics have. For example, the Bubonic Plague of 1348 led to major changes in the social order. With a large percentage of the privileged class dead, those in lower stations in life were given opportunities to enter new and previously forbidden occupations, own land, or receive coveted positions within the church.
While the COVID-19 pandemic pales in comparison to the plague, it will impact the world of work via big-picture changes such as the reshaping of our collective values, new and increased government regulations, and the movement to a contact-free economy (think increased digital commerce, telemedicine, increased automation, etc.). These changes will undoubtedly lead to revisions to the short- and long-term strategies of both businesses and individuals.
Our study supports this: 66% of respondents indicate that their companies expect changes in their business strategy to adapt to the pandemic. But the exact nature and timing remains uncertain, and the things we don’t know are making decision-making both difficult and risky.
In the face of uncertainty, adaptations for immediate survival often focus on the obvious. For example, restaurants shifting to delivery and curbside pick up. Likewise, increasing use of video-based interviews and shifting to working from home. Our data supports these trends — 57% of our sample indicates that they have increased the use of video interviews and 69% say that their companies transitioned workers to work from home.
When it comes to big-picture strategy and complex business decisions, navigating through uncertainty requires looking beyond the obvious to connect the dots and take action. For instance CVS is undertaking “the most ambitious hiring drive in the company’s history,” adopting a bold, next-level strategy to fill 50,000(!) roles via a hiring process complete with virtual job fairs, virtual interviews, and virtual job previews.
Seismic shifts in society caused by the pandemic’s fog of uncertainty mean that employers will have an expanded role in the financial, physical, and mental wellbeing of their employees. The pandemic has accelerated a movement that has been gathering momentum in HR — a focus on creating a human experience for its workforce (and customers). This mindset encompasses the importance of communication, creative upskilling and reskilling, and business continuity while keeping employees and customers safe and healthy.
The pandemic’s impact on hiring will be profound and will require a mash-up of bold decision-making and people-first strategies.
The rules for a post-pandemic workforce will intensely favor employers. With the chance to reset their workforces, employers will have the upper hand as they reboot with a mix of old and new talent.
However, it is not going to be an easy road for employers who seek to staff up with new skills required to support strategic changes in direction. While the war for talent has been raging for over a decade now, we are about to enter into top-talent armageddon.
It is not out of the question to assume that top performers will be in twice the demand than before. The heat of battle to find and retain top talent will place a premium on speed and efficiency. But speed and efficiency alone will not win the day. Balancing the need for fast and precise hiring with the importance of the human touch will be the next great challenge in hiring. Employers that get it right will be handsomely rewarded.
The playbook for human-centric hiring is not a secret. It starts with a mindset of compassion and flexibility, from which spring pillars such as:
Recruitment process automation (RPA) is here to stay, and the pandemic is definitely accelerating its adoption. RPA adds efficiency to the hiring process via automated sourcing, scheduling, and communication, but the real winners will find creative ways to include the human touch in their tech stacks.
For instance, Michael Wright, head of talent acquisition for media investment company GroupM, reports:
“This crisis has led us to reimagine recruiting. We Immediately adapted our [artificial intelligence]-driven video interview tools to be more empathetic and more contextually aware than they were pre-COVID. We’ve also set up what we’re calling ‘video handshakes,’ which are more focused on discovering what people can be and become, rather than what they do and have done [previously in their career.]”
Automated marketing platforms are another tech tool that, when used creatively, can bolster efficiency while sharing your company’s special brand of the human touch. Here are some great examples of how employers are using their tools and channels to promote compassion.
Pre-hire assessments are also an excellent way to add efficiency and engagement. Scenarios where there are more applicants than openings are where pre-hire assessments do their best work. While assessments have traditionally been knocked for being unpopular with candidates, they can actually be a strength to your recruitment brand if constructed in ways that engage candidates while simultaneously ensuring fit for role.
While 50% of respondents to our survey indicated an immediate reduction in spending on new hiring technologies, it is inevitable that widespread investments in advanced hiring technologies are on the horizon. No matter when you jump in, successful hiring will require flexibility, boldness, compassion, and mission-focused decision-making.
