Never before has the power of data in staffing and recruiting been so strong. Like most industries, the staffing and recruiting sector has been impacted, challenged, and forever changed throughout the course of the pandemic.
As they struggled to adapt to rapidly shifting needs in their industry, staffing and recruiting professionals have learned that the solution to their challenges is technology. In particular, S&R pros who lead the pack have embraced technology that helps them manage and leverage the power of data.
Technology has helped drive forward how staffing and recruiting firms collaborate and communicate. Tools like Zoom, Slack, Google Drive and Quip have made sure that team members working remotely from anywhere in the world remain connected on projects. Technology has offered increased visibility and maintained a sense of team throughout a dramatic evolution in working environments.
Artificial intelligence to build genuine human connection
What makes a lot of today’s day-to-day technology more effective than past tools is the use of artificial intelligence (AI). From a business standpoint, innovative technology using AI enables professionals across most industries to better connect with both existing clients as well as potential customers. Staffing and recruiting firms need to tap into AI-driven technologies and incorporate them into their tech stacks to remain competitive and stay focused on relationship building.
Staffing and recruiting, at its core, is a sector built on relationships. Filling job positions depends on building relationships with candidates and helping to find a good fit. Additionally, when staffing and recruiting firms look for business, they typically do so from referrals and existing relationships with companies and their decision-makers. Firms looking to get ahead need to research and invest in technologies that solve relationship-building challenges.
Issues and challenges
Although positive technology and data-driven changes to staffing and recruiting have moved the industry forward, a lot of firms still face a number of challenges. The top-reported industry issues include: skills gap, data quality and integrity, digital transformation, data protection regulations, and collaboration.
Let’s dive into data quality and integrity. Staffing and recruiting firms are struggling with both the quality of their data, and how to use it. Even organizations already using customer relationship management (CRM) in their tech stack have problems with data quality. In fact, our research indicates that:
- 91% of companies report having incomplete CRM data
- 62% of CRM users don’t log all activities (calls, emails meetings, meetings)
- 88% of CRM users admit to entering incomplete contact information
- 70% of CRM data decays in a calendar year
What’s the point of investing the time and money into CRM if you can’t even trust its data?
Enhancing the CRM with AI-powered tools that automate the data entry and make sure the data is always clean, reliable, and up-to-date.
Data in staffing and recruiting’s remote workforce
The pandemic established the need for employees to be able to work from home—or anywhere—and it’s easy to see that these changes are having an impact on most industries. Staffing and recruiting companies face major transformations, and must adapt to how their teams can best do their jobs remotely. Even prior to 2020 remote work was on the rise, and reports show the number of employees working from home will continue to grow.
There’s a plethora of opportunities that open up to staffing and recruiting companies that employ AI-driven technologies while operating in a remote workforce. Without having physical access to colleagues, knowing who knows who across your business is the first step to accelerating new business, cross-selling and up-selling revenue. As we mentioned previously, looking for AI-driven solutions that tap into customer information can help relationship building, and ultimately boost revenue-driving activities.
You need Relationship Intelligence
The power of data in staffing and recruiting can be amped up through Relationship Intelligence, a piece of technology that all staffing and recruiting firms should be using.
Relationship Intelligence can be accessed through AI solutions such as Introhive, which helps you double down on your relationships, impact, and reach in ways most people wouldn’t even think possible. Relationship intelligence lets you carefully track your own business activities, plus gives insight into who at your firm has connections that can help you open doors at another firm—all at the touch of a button inside your CRM dashboard.
The future of staffing and recruiting relies on incorporating tools like Introhive into your tech stack to help drive business through relationships. In fact, cloud-based technologies and the software as a service (SaaS) subscription model are already driving the growth of the HR software industry, predicted to be worth more than $10 billion by 2022.
It’s time for your firm to get on board.
Unlock the power of data in staffing and recruiting
Wondering how data can impact your talent pool and firm even more? Be sure to download Introhive’s AI for Staffing & Recruiting Playbook here, and accelerate your S&R business growth. If you’re ready to take action on revenue acceleration, talk to one of our friendly sales staff and get ready to unlock the power of your data.