Corporates Take to Remote Technology to Tide the COVID-19 Disruption

Reduced Global Hiring:

The hiring season was underway, globally, when the outbreak occurred. While several companies had already rolled out offer letters, many were still screening employees or analyzing critical data to come to actionable conclusions. The employees were between switching roles and exploring new opportunities. Companies seeking to fill their recruiting funnel were not able to line up interviews because candidates chose to give them a miss. The unexpected development has delayed processes, created restrictions in conducting face-to-face interviews, loss of potential candidates, and put brakes on possible business initiatives.

Challenge for Competitive Examinations:

Many companies conduct large-scale competitive examinations to streamline their campus hiring process. These high-stakes online examinations enable corporates to shortlist high potential candidates from a vast talent pool. However, viable candidates, as well as faculties, are either unwilling or unable to undergo the examination, exacerbating the situation. 

Cancellation of Public Events:

Several conferences, contests, games, matches, and other recruitment-related events, internally and externally, such as job fairs and Hackathon, have either been canceled, postponed, or witnessed low-levels of participation due to the onslaught of the contagious virus. Economic losses are mounting with the cancellation of such undertakings, for they are pivotal in fostering a large-scale engagement. Such events also help organizations to zero in on potential candidates. With global participation, there is a considerable investment, financial and otherwise, in such activities. Unfortunately, the risk-reward assessment calls for such desperate measures. 

Reluctance in Traveling:

Business trips or relationship-building meetings are integral to corporate functioning. Hiring is critical to meet this objective as frequent such outreach invariably decides the quality of relationships, and consequently, the quantum and quality of sales. International and domestic travel are being avoided, however. Employees are reluctant to travel to work every day and are choosing to work from the comfort and safety of their homes instead.

Absence of Recruiters During the Hiring:

Recruiters, too, are avoiding large-scale interactions with the candidates. Their concerns are valid and well-founded but have severe implications on the time-taken in hiring a candidate. Large organizations are losing out on potential candidates as candidates are either continuing with their current job or taking up the first opportunity coming their way. 

Geographical Recruitment:

Hiring talented individuals, irrespective of their geographical location, is critical to the success of corporations. However, currently, borders have become barriers, thereby adversely impacting corporate profitability. 

Employee Retention:

If companies are unable to stabilize their operations and generate expected levels of revenues, the likelihood of getting repeat business is bleak. Corporates intending to roll out their annual bonuses and appraisal, before the end of the fiscal quarter, have put their exercise on hold. It is expected to impact employee retention, as employees would prefer to opt for a position elsewhere to further their financial and professional objectives.

Are we headed towards a crisis then? It is a speed-bump, if not a full-blown crisis, and has the potential to considerably impact the business outlook in the near-term horizon. Doing nothing simply won’t suffice now. Companies must consider specific measures to counter the threat of the infection. Preemptive measures can enable companies to tackle the impending trouble better. Companies must safeguard the interest and the health of their employees, industry associates, suppliers, and vendors in these trying times. Continual communication, awareness, and education would help in averting any workplace crisis, guaranteeing employee retention.

Imagine the prospect of continuing with your regular work without exposing yourself to the threat of the Covid-19! The proposition may sound unviable, but technology can be a major enabler in helping you deal with its impact. Our online ecosystem is replete with various assessment tools and recruitment solutions that make hiring, interviewing, retaining, and even interacting ‘remotely’ possible. You can bid farewell to geographical boundaries, conduct end-to-end campus examinations, and improve your quality of hire using digital means in a hassle-manner. 

Hiring Platforms:

Address your global and local hiring woes with tools that enable you to interview and interact with candidates online in real-time. Video interviews can be an excellent substitute for the typical face-to-face interactions, which is usually conducted by every company to understand the prospects’ personality, behavior, and cultural fit better. Video interviews are as good as live interactions, and do not require candidates to be present physically, yet help companies to scale hiring and transcend geographical boundaries, and ensure the most intelligent recruitment decisions. That these platforms also reduce the recruiters’ manual workload is another advantage of the digital platform. From creating structured interviews that measure candidates’ competency mapped to the job role to rating and reviewing applicants as per your convenience, some platforms allow you to undertake such initiatives seamlessly.  

Proctoring Technology:

Companies yet contemplating on conducting their competitive exams, can effortlessly resort to a trending e-solution known as proctoring. It is a comprehensive technology and an ideal online assessment tool that can help you monitor any examination remotely. Depending on the stake of the examination and company’s budget, one can opt for a proctoring of his/her choice. Proctoring may include auto, manual, or live, to keep a tab on the candidates undergoing the examination. On a fully customizable and secure browser, one can monitor any suspicious activity in real-time, and avert impersonation with proper verification to prevent untoward activities. To further ease the process, you will realize that there is no extra effort in screening the reports that need further reviewing. Also, one can tap into a larger candidate pool without the geographical constraint. Conversely, proctoring provides an ease to the candidates, allowing them to take the exam in an environment of their preference.

Virtual Platforms:

As our digital endeavors evolve, events, and other such activities for recruitment like Hackathon need not suffer either. With the easy availability of industry-leading technologies that can engage candidates through a secure process virtually, companies can easily move from offline to online. These virtual platforms allow easy setting up of event details. While participants can very easily create a team and submit in a hassle-free manner, assessors can run fair, to-the-point and error-free evaluations. 

Online Platforms:

‘Work from home’ is a viable way out in the current scenario, and there are numerous tools available online to undertake the same without compromising on the quality of work. These platforms are spacious enough to store the data safely and can be accessed by the employees as needed. These tools can speed up and streamline their work efficiently, ensuring the continuity of businesses.

With constant innovation, technology has paved the way for digital disruption. However, our reluctance to embrace technology has cost us more than we can imagine. It must not be business as usual for companies. They must reinvent their processes and revisit how they conduct their daily business to align with their current and future needs. Preventive measures will not only soften the blow of the crisis but help companies to navigate through any such economic headwinds. 

There is considerable pressure of sustaining through these turbulent times. It is for you to best leverage the available resources, ensuring not only survival but the ability to emerge stronger from such intermittent challenges. Rome wasn’t built in a day! Thus, solutions to these newer and unpredictable forms of problems may not appear overnight. Preempting and preparing for them will enable a resolute response at a micro and, cumulatively, at a macro-level.