For an organization the most crucial aspects is to hire the right person. As the technology advances, recruiters and employers are embracing innovative technologies to hire new employees.
One of the major trend in employee recruitment is recruiting through virtual tools. The goal of virtual recruiting is same as the other traditional recruiting process that includes identifying and acquiring skilled workers to meet organizational needs.
Virtual recruitment, virtual hiring, or virtual interview is the process of conducting online interviews and hiring candidates with the help of video conferencing.
Virtual hiring tools help enhance the candidate pipeline and provide mobility to the recruitment process.
The rise in adoption of virtual hiring tools due to the current coronavirus pandemic would drive the market in the coming years.
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Impact of COVID-19 Pandemic Outbreak on Virtual Hiring Tools Market
Coronavirus has now become a threat to humans and to the global economy. The pandemic has not only changed the way of economies that are functioning now, but has forced the global teams and industries to change the way of managing their workforces.
As organizations around the world are striving to adjust to the current pandemic situation, recruiters increasingly turning towards cutting-edge virtual hiring solutions to minimize the loss of potential candidates.
The virtual hiring tools market has shown significant growth during the pandemic, it is expected that the growth will increase by nearly 6% – 8% in Q1-Q3 2020.
Virtual solutions can enable recruiters to continue their activities amid the lockdown seamlessly, and it is expected that it will continue to become a mainstay in the post-pandemic world as well.
Virtual Hiring Tools Market: – Market Dynamics
Rise in Adoption of Virtual Hiring Tools amid COVID-19
The current Covid-19 pandemic has created major recruitment-related obstacle in front of companies. The pandemic has disrupted the business continuity plans, and also interrupted the hiring process on account of the pandemic-led strangulation of mobility.
HR’s are also unable to conduct interview process or ask candidates to appear for face-to-face interviews because of various pandemic measures such as social distancing, as companies are at risk of losing out on the best talent.
By leveraging the advance technologies such as virtual hiring tools, organizations can efficiently conduct all kinds of requirement processes in real-time without violating the social distancing protocols.
Thus, the current pandemic satiation has created lots of opportunities for virtual hiring tools providers to expand their business.
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Increasing Adoption of Video Conferencing Solutions for conducting Virtual Interviews
Technology has become an enabler to hire and manage a workforce that you can’t physically meet. Companies have started to rely on multiple video conferencing tools for recruitment processes.
From the perspective recruitment, video conferencing tools enable a quick and convenient way to screen candidates without relying on in-person conversations.
Instead of asking candidates to physically present in the meeting room, recruiters can do everything over video.
Thus, businesses are replacing the physical recruitment processes with connection over video, this opens up wide new opportunities in the search for talent acquisition and shift towards the virtual hiring tools.
Virtual Hiring Tools Market: – Key Players
Key players in the virtual hiring tools market are focusing on product innovation and strategic partnerships with the technology vendors to collaborate for offering advanced virtual hiring tools solution and services to effectively conduct hiring operations.
The major players offering virtual hiring tools solutions include
- VidCruiter
- Myinterview Solutions Pty Ltd.
- Spark Hire
- RecRight
- XOR
- Harver B.V.
- AllyO
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global virtual hiring tools market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with virtual hiring tools market attractiveness as per segments.
The report on virtual hiring tools market also maps the qualitative impact of various factors on virtual hiring tools market segments and geographies
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Virtual Hiring Tools Market: – Segmentation
Component :
- Virtual Hiring Tools
- Services
- Professional Services
- Consulting
- Training and Education
- Support and Maintenance
- Managed Services
- Professional Services
Deployment Mode:
- Cloud-Based
- On-Premises
Industry :
- BFSI
- Retail
- Government and Public Sector
- Manufacturing
- Healthcare
- Education
- Energy and Utilities
- Others
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