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With The Increased Worry Of A Looming Recession, Experts Caution Not To Think Short-Term And Repeat Panemic Recruitment Mistakes

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Broadbean, a global recruitment technology business, encourages recruiters to take a proactive approach and not slow down as the economy shifts

The last two years were tough on recruiters. The pandemic devastated corporate talent acquisition teams, sometimes wiping them out completely. As a result, an era of reactive recruiting was born. New demands for agency recruiters and increased pressure to fill roles amidst a talent shortage brought long hours and lasting burnout. While the effects of the pandemic linger and fears of a recession loom, Broadbean, a leading global recruitment technology business, encourages recruiters to take a proactive approach so as not to be caught in the same position when the market turns.

Broadbean's technology saves time and effort while providing real-time data to inform markets and their postings. This data-driven recruitment can improve the quality of hires and, ultimately, business results.

"As the global leader in job distribution for over 20 years with the world's largest job board network, our recruitment data and insights enable our customers to optimize their recruiting strategy, cut costs, improve efficiency and drive maximum impact," said Alex Flourlis, president, Broadbean. "By utilizing metrics to analyze the market, we can understand the opportunities, how many jobs must be filled in a specific area, and understand the supply and demand of candidates." [Therefore, finding recruiters more qualified candidates.]

Broadbean's proprietary data suggests that while the market may shift, the talent shortage will remain – even in a recession – for high-skill jobs, such as IT, construction, education, healthcare, and manufacturing.

“Demand in these industries is at an all-time high, and the number of applicants remains very low. If you needed to hire a teacher in 2019, you didn't have a big challenge, but in 2022 it's almost impossible to get applicants. This has resulted in employers struggling to fill mission-critical roles " said Fourlis.

Broadbean's data shows that despite rising worries about inflation, supply chain issues, and the impact of the Russia-Ukraine war on global economies, the number of job vacancies online continues to increase globally.

This trend indicates that recruiters should use proactive technology strategies to increase efficiency and focus on sourcing, engaging, and attracting candidates ahead of increased hiring demand. Technology can enable recruiters to automate the most tedious parts of their jobs, such as reading high volumes of resumes to identify qualified candidates and posting to various career websites. Broadbean can automate these menial tasks so recruiters can focus their time on more rewarding work.

Consultants at Robert Walters, a global specialist recruitment agency that serves the accounting, banking, engineering, and IT industries, are saving up to 11 hours of administrative time per vacancy with Broadbean's technology. They report identifying the most relevant candidates faster and improving human connections using AI.

Broadbean's data also shows that recruiters can optimize their processes even in a tough market, controlling better results at the top of the recruiting funnel.

While we wait and see what happens with the market, Broadbean urges recruiters to plan and ensure they have the tools necessary to save time and identify the most qualified candidates faster and more efficiently.

 

How does Broadbean work?

Broadbean uses metrics to analyze the market, understand opportunities, and benchmark key performance indicators (KPIs) so recruiters can automate processes like application collection, sourcing, and onboarding, allowing them to be faster and more efficient. Furthermore, Broadbean utilizes tools such as programmatic advertising, which uses data and learning algorithms to decide when and where to post a job, taking the guesswork out and freeing recruiters from the time-consuming task of managing multiple supplier contracts. Book a demo today!