Messages from Bullhorn EngageX 2020
It’s no surprise that one of the main messages at Bullhorn’s EngageX 2020 was around the new business landscape and what recruiting and staffing firms can do now to be better equipped to serve their clients and when the rebound occurs. A strong message emerged from this virtual event: Invest in your firm with technology. While that might not be surprising considering that Bullhorn is recruitment software, the message is broader and encompasses technologies that can leave firms in a strong position to handle the economic rebound.
Alongside the push for technology, there were two main refrains—organizational adaptability and remote ability. What does that mean for recruiting? It’s not just referencing the recruiting industry but also relating to how they are working with customers in the new normal. The climate for recruiting was changing before with the emergence of the gig economy—more positions becoming temporary, contract, or non-traditional have adjusted the way that many recruiting firms work with their clients and candidates. But the adaption of this industry continues into the current climate.
During this time, there has been a decrease in some markets and verticals but recruiting firms in the light industrial sector, healthcare, and others have seen increased demand where customers are increasingly engaged and looking to fill positions quickly. This puts firms in the hot seat to find the right candidates quickly and provide them back to the client. However, unlike the economic decline that we saw in 2008-2009, after six weeks there’s a considerable return to pre-March financial positioning in the market, making the revitalization of the economy seem stronger than previous recessions. Firms in this industry are going to have to be adaptable and accelerate their own transformation within the market to win as the globe creates jobs again, including ones that were not there previously.
How does the industry adapt? That’s the question on everyone’s lips right now. Organizational adaptability means adjusting to the current business landscape where clients may need additional support and more flexibility. While some verticals are doing well, others are hurting which means that recruiters and staffing professionals, depending on their customer base, need to understand where things stand. There is no easier way to do this and adapt than the use of software. Providing a structure amidst the chaos, software that helps firms to automate processes, and nurtures relationships is crucial to a recruiter’s toolbox.
Nurturing relationships, marketing automation, like Sugar Market, is a top choice for the industry because it allows staffing firms to nurture relationships with both clients and candidates. More than that, it allows them to gather information about them that furthers their interactions allowing for increased personalization. Organizational adaptability is focused on building relationships and growth which, right now, is more crucial than ever to those who want to remain competitive in their markets. Organizational adaptability and remote ability are now at the forefront of every business and marketing automation is being adopted more than ever before by the staffing industry to keep up with both clients and candidates.
There’s a difference here between adoption and adaption, this is more than just accepting that remote work exists—recruiting firms have had understand that over the past few years as people have increasingly worked from home. They had to adopt the ability to place remote candidates for the new economy but here, we’re talking about the recruiting firm itself adapting to the ability of remote work themselves.
Recruiting and staffing firms are finding that during this time of remote work and closed offices, they themselves cannot work remotely because their services and software tie them to the offices whether it’s billing, contacts, or something else. The question then became why? Why are businesses so dependent on being “in” the office when they can work from anywhere and have the flexibility needed to complete some of the demanding aspects of the job?
This has become the reasoning behind the increased adoption of technology that relies on the cloud to enable remote work. By using cloud-enabled technology, information and profiles alongside billing become easily accessible, allowing these firms to adapt to the new business landscape and provides a distinct advantage to the firm. What’s more is that cloud technology also puts data at the recruiter’s fingertips, and data is no longer a nice to have but a requirement to match up the right clients and candidates to enable better and stronger partnerships with all parties involved. With a successful placement, whether temporary or permanent, staffing firms grow their client base and increase the possibility of future opportunities.
Technology is the Message
One thing cited time and time again throughout multiple conversations at Bullhorn’s EngageX 2020 was the fact that right now is the time to invest in technology. While many firms are optimistic about the rebound throughout the remainder of the year based on the live polling during the event, they need to increase technology adoption now to be competitive when the rebound occurs. Marketing automation, CRM, and billing software are all key areas that recruiters and their firms need to adapt in order to be competitive and better serve the shifting landscape.
Right now, as there is a substantial pause in the market for job placement, is the time to invest internally in technology to increase your strength and ability to help your clients during the recovery. The use of software and technology to accept the changes in the market and improve both the candidate and client experience is crucial. During the period of the upswing in the future economy, data will play a crucial part in understanding what to do and where to do it but without technology, accessing that data is nearly impossible. No recruiter or firm can afford to be mired in the realm of spreadsheets, tracking incomplete data or conversations, or not understanding the whole customer they’re working with because the competition is ever increasing. Technology is the solution to these issues and the key to increasing conversions and placements in the future.
Any advantage that you can obtain through software and technology is an investment in growth. Invest in technology to position yourself for long term success.