Anjana Desai, Author at Juntrax

The Future of Recruitment

We always wonder what will be the future of recruitment? Change is the one thing that remains constant through different situations and circumstances. It is this constant change that can also be witnessed in the process of recruitment.

In the current times, recruiters have a different approach towards shortlisting and hiring candidates as compared to the way it was done in the past.

Numerous factors affected the ways in which the process of evolved over time. The Covid 19 pandemic created the requirements for opting for a digitally inclined process.

Movements like feminism led to the inclusion of women in companies and organisations which again changed the recruitment process. Upsurge against racial discrimination again led to changes in the distribution of equal opportunities for people despite their cultural, ethnic, religious or racial background.

With all these changes it was an inevitable phenomenon for companies to transform their recruitment processes and structure them to fit the demands of the world, the skill set required by the company and their own moral and ethical responsibility towards the candidates.

In this article, we will talk about five major predictions about the future of recruitment.

Predictions on Future of Recruitment

Prediction 1

Companies will promote building and borrowing instead of hiring

Internal mobility might not be the first option for most of the companies in future. Even in the current times, there are numerous ventures which prefer to outsource work or partner with other firms for certain tasks and requirements.

This method of partnering with learning and development (L&D) or other outsourcing firms will allow a business to explore and cultivate a smooth workflow and a concise and dedicated internal team. For any other requirements, the workforce from the partnered program or outsourcing units will help the company to engage with diverse talent and skills.

You can also read : How to onboard new employees in 3 easy steps in this digital age!

This will also save them from bearing the cost of employees who do not regularly contribute to the company but are needed for particular projects and undertakings. This will also structure the L&D companies to provide better opportunities to their employees and engage with diverse industries and opportunities.

This will also transform the recruiter’s approach towards hiring and assessing the candidate’s talent and skills. Instead of paying attention to their technical capacity and on paper qualifications they will widen their horizon to monitor the adaptability, problem-solving technique and communication skills of their applicants.

Prediction 2

Businesses will develop accountability towards diversity through their process of recruiting

Workforce diversity has been advocated throughout the globe for its benefits towards the development and success of a company. Movements like Black Lives Matter have created a deep impact on companies and their recruitment processes. This impact will grow stronger in future where people will not tolerate exclusivity or prejudice in any sector.

As important as it is for companies to practice diversity as its responsibility towards promoting equality in their work culture, it is also a critical step for promoting their business and utilising diverse potential.

Talent from suppressed and minority groups will gain opportunities and overcome the barriers of bias and excuses. This change in the future of recruitment will also be visible in gender diversity.

Companies will increase the percentage of candidates from other sexual orientations along with female employees. Gender will no more be a concern and the priority will be given to the skill set and capacity of the individual with respect to their possible contributions towards the growth of the organisation.

Prediction 3

Recruiters will continue with digital hiring

Covid19 caused major changes in the way recruiters approached candidates and hired them. The global lockdowns made way for creating an alternate method for face-to-face interviews. This alternate method was digital shortlisting and hiring processes. Even though it was a desperate alternative at first, it has now evolved as an effective time and cost-saving means.

You can also read : Automated Employee On-boarding Process

These factors have been addressed by organisations and their response towards convenience might make digital hiring a permanent choice for recruiters in future. The hybrid hiring process for remotely working employees will gain prominence and set different work standards for employees. Businesses will also formulate guidelines and protocols for these virtual processes along with forming a proper framework and security system for the same.

Prediction 4

Remote working will be the next work trend

To cope up with the pandemic and sustain their business, the majority of organisations from all diverse industries had to opt for remote working and functioning. On one hand, where it was difficult to adjust to virtual working in the future, it later became convenient to a point that companies turned their heads towards the benefits it brings along.

You can also read : Reasons to Invest in Employee Management System

A remote work structure will also allow companies to utilize talents from diverse sectors and areas without worrying about the travel and conveyance of the employees. They will also save on office and employee maintenance along with the cost of on-premise expenditure on system setups and other logistics.

Prediction 5

Empathy and action will be major components of the recruitment process

Recruiters will seek empathy and action in their applicants. People are developing their ideas and thoughts towards social causes and are being vocal about the same. Social media has provided a platform for each individual to assess their surroundings and they are looking for brands and companies that withhold a strong viewpoint and stance about social issues.

Therefore HR and admins will lead a different approach towards marketing their enterprise and instead of showcasing the perks, benefits, office luxuries or their products, they will endorse their relationship with their employees and their role in supporting and sustaining their employees, customers and their community.

Companies will reshape their campaigns to hit the soft spot of their consumers by rebranding themselves and associating them with NGOs, social causes and programs. They will also adapt to empathy towards their employees and take accountability for their shortcomings.

This will develop dedication and satisfaction of the employee and therefore increase the possibility of better results and action. Kindness will be utilised as a marketing tool that will not only benefit the needy but will also reform the company’s position in the market and the eyes of the consumer.

The Future of Recruitment – Conclusion

The process of recruiting employees and formulating a strong and deserving team has gone through numerous changes, amendments and reformations. These modifications were inevitable and will continue to occur frequently in future. These changes will not only reshape the work culture in companies but will also open doors for inclusivity, perspective and opportunities for ventures and individuals.

Juntrax by Juntrax Solutions offers various features which can assist recruiters all the way from shortlisting applicants to hiring and on-boarding them. To know more about our software, book a FREE demo with us and explore our tools and features.

Crafted By: Aditi Srivastava

Are Disconnected HR and Professional Services Automation (PSA) Softwares Hurting Your Employees’ Productivity?

Introduction

For any company, profitability is the keyword! Companies often tend to get waylaid in the processing of figures and profit levels. Many times, SMEs and startups can’t even figure out where they have gone wrong. More often than not, the problem lies in streamlining and integration. Crucial resources are wasted in managing too many disconnected things related to organizational management, resource planning, and employee functionality. Companies need to focus on having Professional services automation.

Three critical disconnects inadvertently trigger frequent “fire drills” within your organisation each month, often undermining profit levels without your immediate recognition of their profound impact.

1. Fluctuating Costs:

Many companies utilize various management solutions from different IT firms, ranging from project management to report generation software. These tools, often from different providers, come with distinct billing models based on their features. The cumulative addition of these software tools and their subsequent updates or add-ons results in escalating costs that may impact your company’s budget.

2. Streamlining Challenges:

Diverse software solutions with varying maintenance timelines can clash, causing workflow interruptions and decreasing productivity and customer satisfaction. Office and HR software should harmonize to enhance employee efficiency, yet often, this integration is lacking, leading to additional maintenance costs and duplicated features across multiple software.

3. Manual Transfers:

Operating multiple software systems for different departments may appear process-oriented externally but often leads to internal discrepancies. Updates of one software may not seamlessly integrate with others, causing employee frustration and time wastage. Manual data transfers, invoice discrepancies, and other issues arise, hampering workflow efficiency and cash flow management.

These seemingly small issues, when aggregated, can lead to significant operational flaws. For startups or SMEs, such discrepancies could risk losing credibility with customers, affecting profits and market positioning.

Streamlining Your Business Through Hybrid HR +Professional Services Automation Software

Professional services automation (PSA) is a cloud-based HCM & HRMS SaaS solution to the above-mentioned fundamental problems that SMEs and Startups face every month. PSA also boosts the credibility of SMEs while pitching to investors.

Investors tend to invest in startups that have robust management systems in place. This qualifies as the first thing that they see when choosing a company to back. Next comes the business model and idea integration into the product or service provided. If you look closely, investors are always backing up organizations that merit systematic processes in place. Uber, Oyo Rooms, Ola, and Flipkart are a few examples of Indian companies that have integrated, and streamlined PSA in their businesses, and all of them enjoy great backing from investors.

PSA Software: A Complete Guide For Understanding, Evaluating, And Implementing Professional Services Automation Software

The PSA market is projected to grow at a Compound Annual Growth Rate (CAGR) of 11.7%, reaching $1,244.8 million by 2022 from $716.5 million in 2017. The segment of small and medium-sized enterprises (SMEs) is anticipated to mirror this trend, experiencing an even higher CAGR in the professional services automation market. (Source: MarketsandMarkets)

SMEs and Professional Services Automation

SMEs also stand to benefit from the deployment of professional services automation on the cloud. Cloud-based Service Management Platforms offer cost-effective alternatives to on-premise solutions, potentially reducing IT infrastructure and maintenance expenses. The market’s influx of small vendors has expanded affordable options for organizations. Factors like real-time monitoring, scalability, cost-effectiveness, and enhanced efficiency drive SMEs toward adopting professional services automation (PSA) solutions, resulting in a sharp rise in their adoption.

Read our blog 4 ways PSA Solutions can minimize security risks

Our Professional Services Automation

Our comprehensive PSA system empowers engineering companies to prioritize productive teams and satisfied clients, freeing them from internal system intricacies. Through automation, we steer organizations towards superior products, content teams, and delighted clients, ensuring top-tier PSA services. Backed by exceptional support, our software ensures peak profitability for engineering firms while preserving morale and saving time and money.

Diverse management software—project management, payroll, expense management, cash flow, client invoicing, and report generation—comes with varied billing models based on features. These varied charges for updates or add-ons can significantly increase overall costs, impacting your company’s budget and expenditure.

5 Ways a PSA Software Can Help You Track Your Client Billables More Efficiently

PSA systems can be a game-changer for professional services organizations that sell billable hours as a service – right from automating billable hours tracking to template-based invoicing.

Learn how you can effectively use a PSA software to increase your client billables

Introduction

The professional services industry is growing at a rapid pace today, attracting a large number of new players to enter the segment. To successfully navigate such a growing market, professional services firms, including consultants, engineering services, and project management, are in constant need of tools to grow their business and rise above the competition.

This is where professional services automation (PSA) software comes into the picture.

What Is PSA And How Can It Help With Increasing Billable Hours?

Professional services automation (PSA) is a critical tool designed as a project management software and a resource management software rolled into one simple platform.

It is essentially an enterprise resource management tool designed for firms within the service industry. For example, a good PSA software offers multiple benefits, including invoice management, time tracking, expense tracking, document management, and more to assist the operations of a professional services firm.

How Does PSA Software Help in Billables Utilization?

For any service-based business, one of the top concerns is staying on top of billable resources to make sure that all billable hours are tracked and invoiced in a hassle-free manner.

PSA systems can be a game-changer for professional services organizations that sell billable hours as a service. Right from automating billable hours tracking to template-based invoicing, PSA software can ensure that you get it right every time.

Further, increased accuracy in the billing leads to more satisfied clients and reduced human-related errors, thus making the billing cycles more accurate and transparent.

5 Tips to Efficiently Track Your Client Billables Using PSA

Here are some of the ways you can use a PSA system to help your firm increase the number of client billable hours –

1. Automated Time Tracking

Automated time tracking using professional services automation software can be a great solution to get more billable hours as it ensures that none of your hard work is wasted, while accurately accounting for all the work that you’ve completed.

It also saves you from the hassle of filling cumbersome and lengthy timesheets at the end of the week with all the tasks you’ve completed. It is a tedious and challenging task to estimate the amount of time you spent on drafting client emails, recalling the number of meetings you’ve attended, and compiling all the data into a concise timesheet.

2. Capture All The Time Spent – Billable or Not

In a professional setup, time should be accounted the same way as organizations account for the money. By keeping an account of where all the time is being spent or how it is spent using a PSA software, top management can make appropriate decisions and changes to realize more of the clients’ billable time.

3. Tracking and Invoice Automation

Using a good PSA system, organizations can accurately log and automatically charge the clients’ next invoice once they perform an hour of work against a project. The best part is that all of this happens automatically, without anyone having to consolidate various reports to make it happen.

This becomes possible because PSA reduces the amount of coordination and manual reporting that is pretty common in service organizations. With fewer non-billable projects to worry about, your team can actually focus on work that is profitable.

4. Allocate Resources More Proactively

Proactive resource allocation to ensure that the maximum amount of time is spent working for clients requires a lot of work and detailed planning. A high-quality PSA software allows you to have better visibility of the entire resource pool available, giving you the power to allocate time better and increase your billable hours. This way, you can get the right resources in front of the right customers.

5. Effective Delivery

One of the benefits of PSA is its ability to easily and accurately collect data about the working hours that people are actually putting in, instead of just giving a weekly total. Further, it also helps to ensure that all your proposals are in better sync with how the work will be delivered, making the billable utilization and realization rates more accurate.

Conclusion

PSA systems carry immense value due to their ability to help organizations deliver profitable and successful client engagements. One of the other effective ways that a PSA helps professional service organizations is by realizing the maximum value of the available resource time, also known as billable utilization.

Choosing the right PSA system, such as Juntrax allows your firm to create significant positive results for both your clients and your company in the long run. Juntrax offers excellent PSA solutions specifically designed to support various stages of the professional services delivery lifecycle.

4 Ways A PSA Solution Can Help Reduce Security Risks For Your Engineering Services Firm

Professional services automation software can be of immense use in solving various problems including the security risks that exist in the organizations.

Professional services automation or PSA refers to a full-scale software suite specifically developed to assist employees in service and project-oriented businesses such as engineering services, software development, IT consulting, creative agencies, and more.

The market size of the PSA software industry is expected to grow at a CAGR of 11.7% and is predicted to reach over $16 billion by 2025. More and more companies are using PSA software as it gives them the necessary tools to track several KPIs for their business and helps them accumulate insights in a way that assists in allocating resources intelligently for increased profitability and reduced costs.

The main objective of PSA software is to churn data and offer the service professionals with real-time updates of the entire business, allowing them to scale systematically. This is primarily achieved by developing various metrics across the entire business to help professionals evaluate basic business processes.

For engineering services firms, specifically, the professional services automation software can be of immense use and is flexible enough to offer solutions to various challenges, including the security risks that exist in these organizations.

4 Ways PSA Solutions Can Help Minimize Security Risks For Engineering Services Firms

Here is how engineering services firms can tackle security risks better using PSA solutions –

1. Minimize the Cost and Risk of Running Your Own Servers

Using a good PSA software in engineering services firms translates to seamless cloud adoption that eliminates the costs associated with buying and maintaining your own servers, database software, and operating systems.

Further, it also removes the hassle of regular system updates, security threat mitigation, and patch management. Thus, empowering the engineering teams to solely focus on supporting the core business goals of their organization.

2. Data Security

PSA applications for engineering services firms ensure that all the data is protected within data centers that are certified by the highest industry standards for data security, operational reliability, and privacy control.

A well-made PSA software is designed in a way that is controlled via a common security model, giving teams centralized control of access and much higher visibility to data at a granular level.

Additionally, single sign-on enables engineering services teams to access all platform applications, reducing the risk of a security breach from managing multiple usernames/passwords.

5 Reasons Your Organization Needs a PSA Software

3. Better Performance

Leveraging a professional service automation solutions platform offers clear transparency to both service availability and performance via a real-time view of system status. It allows the engineering services firms to minimize various security risks by demonstrating a clear track record of a trusted and scalable service, supporting multiple transactions done by the users.

4. Effectively Dealing With Sensitive Information

A good PSA software allows you to implement more efficient methods for delivering project sensitive information to all your stakeholders. This leads to multiple benefits, including timely project delivery, reduced security risks, and maximized profitability at the same time.

Further, sorting out the operational side of delivery streamlines the accounting of projects and gives you real-time visibility into your costs, including earned revenue and orders. This allows you to systematically track new levels of accountability from the people charged with the delivery of your projects.

Bottom Line

With an increasing number of engineering services firms struggling to adapt to the demands of customers, your firm can capitalize on new revenue models and appropriately respond to disruptive new technologies. PSA offers an excellent solution to help professional services companies streamline operations, optimize efficiency, and attain greater profitability.

Engineering services firms can use the framework offered by the PSA system to build a predictable service-based business and minimize the security risks to a great extent. The ability of PSA software to see demand early, utilize resources optimally, and accurately track project delivery helps in creating the necessary conditions for confident forecasts. This kind of improved predictability not only leads to better decision making but also helps to build the confidence of stakeholders, including investors and senior leadership.

If you’ve been looking for a powerful, secure, and intuitive PSA software, Juntrax is a leading name that specializes in cloud-based solutions specifically for the project and service-focused organizations.