The HR Technology industry has experienced potent growth in recent years and all indicators point to the fact that this tendency will continue. Companies and venture capital firms are lured by the promise of efficiency and productivity offered by HR tech firms. Companies that are not leaders in talent-seeking are willing to invest in tools to perform better in recruiting, developing and supporting their workforces. The core HR software market alone is worth over $50 billion, setting aside all of the tools for learning, recruiting, and other forms of employee management —which make the market worth closer to $300 billion.
Arbind Joseph, the founder of Crintell Technologies and an accomplished leader with 25 years of expertise in global business leadership and the HR tech world, explains why a problem-solving attitude is a must-have in the technologically dominated HR sector.
"Comparing the acquisition of top talents from the past to now, the game has significantly changed," Joseph states. "It is common that HR professionals report recruiting and hiring as their most critical challenges."
The use of technology in the HR sector allows recruiters to use scalable skill tests and behavioral assessment tools during the initial stage of the hiring process, and to determine what motivates top talent. For some candidates it may mean a larger paycheck, but for most employees it means further development opportunities, flexible working conditions, management responsibilities, greater autonomy, a better job title, or clarity about the possibility of business travel.
Having the ability to embrace change with ease and grace is another beneficial result of a problem-solving attitude. According to Arbind, variables in the labor market are a given and there is no sense in trying to avoid them. Also, using outdated methods for new and unprecedented situations may end up having devastating results. This is why all human resource leaders should adopt modern HR technology with open arms and introduce a progressive, flexible approach to coping with challenges in an appropriate way.
Arbind Joseph: the right person at the forefront of the HR revolution
Arbind Joseph has had tremendous successes in this field. In his previous roles, he increased recruiter productivity by 232%, reduced attrition from a staggering 90% to 16%, developed programs for employees' protection, and, in general, played a tremendous role in the evolution of workplace ethics.
As a longtime enthusiast of technology and unexpected solutions, Arbind saw an opportunity and introduced automation and Artificial Intelligence-based tools to the recruiter's daily workflow. He analyzed the most pressing needs and concluded that the recruitment process has specific stages that are particularly troublesome and time consuming. These include searching for the candidates on job boards and social media, contacting the candidates, etc. Automating these processes saved hours of sifting through profiles and allowed recruiters to focus on the incoming leads, furthermore, it saved thousands of dollars on job board resume views.
"To increase efficiency in recruiting, adding more recruiters is not the answer. The goal should be to do more with less. 80% of a recruiter's time is spent just searching and sourcing resumes— often boring and mundane tasks — leading to errors, inefficiency, and missed opportunities." - Arbind Joseph believes.
New order on the post-Covid labor market
Arbind's business intuition, along with years of experience, told him that the future of HR — especially now during pandemic and in the near post-Covid future — will depend mostly on technological advancements. By and large, remote work is here to stay, therefore the HR sector has no other choice than to adapt to the possibilities offered by new technologies and to implement them for better effectiveness. With the $1.9 trillion American Rescue Plan, the economy is receiving a boost, and even now, compared to 2020, it operates with 13% more jobs available.
The products offered by Crintell Technologies have already revolutionized the HR sector and, in the face of growing labor demand, will continue to do so exponentially.