According to Glassdoor research, the average job opening attracts 250 applicants, of which only 2% will be contacted for an interview. As a response, job seekers must apply to more jobs, therefore increasing applicant volume and reinforcing the low interview rates. The ongoing global COVID-19 pandemic will only exacerbate this cycle, as the BLS-reported unemployment rate increased 3.3x from March to April, with another dramatic jump anticipated in May. Recruiters fortunate enough to still have job openings will now have more applicants for even fewer jobs.
Savvy recruiters might see this as an opportunity to expand their talent pipelines, as a huge number of high-quality candidates have found themselves in the job market for reasons well outside of their control. The problem these recruiters will face is how to make quality contact with as many of these candidates as possible. One tool that recruiters should consider is chat screening. Rather than rely on phone conversations to get to know candidates, recruiters and hiring managers can use online chat to converse with more candidates in less time than with phone screening. Chattervue’s research shows that recruiters can conduct as many as five candidate chats simultaneously, and our chat interviewing tool allows for recruiters to hold office hours at pre-set times.
The labor market has changed dramatically as a result of the COVID-19 pandemic. As the country prepares for a phased reopening of businesses, talent acquisition departments have an opportunity to use new tools to expand their talent pipelines. Forward-looking recruiters should consider chat interviews as a way to establish relationships with great candidates today.