The quality, quantity and cost are by and large the factors controllable amid the sourcing stage. If you have strong sourcing skills and understand the recruitment philosophy, you can achieve the magic of faster evaluation of Talent.
In recent years, digitization of HR processes and use of social networking have changed the precepts of people management. Organizations are currently looking at latest technological advancement such as Artificial Intelligence, Augmented Reality, for managing the expectations of skills and talent needs of the current and future organizations.
Artificial Intelligence (AI) has emerged as a game-changing technology enabling hiring managers to cut on the lead time to hire. AI not only helps in sourcing, shortlisting but also helps in analyzing the candidates profile using various algorithms.
How can you evaluate Talent Faster?
1. Intelligent Sourcing
- Sourcing the right candidate from a large pool of database or applications received for a job posting is the first step to hiring. Machine Learning (ML) algorithms can match the best candidate to the Job Description by using the must have requirements stated by employers.
2. Scheduling and shortlisting
– AI-powered assistants or chatbots help reduce the time-to-hire by getting candidates to quickly apply to positions by handling queries by prospective applicants in real-time. There are various tools that can be used to reduce the time-to-hire and prescreening:
a. Video Interview – Video Interviews live or offline can help you save the time and efforts to screen and shortlist candidates.
b. Questionnaire based evaluation – Another way of prescreening candidates is to screen them based on certain job specific questions. This helps you in ensuring that the right ones reaches you.
3. Engage with your candidates
– There are various ways in which you can engage with your candidates:
a. Applicant Tracking system - Candidates often complain about not receiving timely updates about their application status. This hampers the candidate experience, thereby directly impacting the quality of applications. Using AI based chatbots can solve the problem of delayed/no response. As information can be transmitted real-time.
b. Employer Brand Video – employer brand video helps the candidates in making a faster decision for applying for a job.
c. Video JD – Video JD is a better way of communicating with your prospective candidates. This video should spell out the clear requirements of skills, working environment, commitment and deliverables. It should spell what ever is not quotable in the paper/print JD cannot state.
4. Reduce dependence/ bias
- Bias is one of the most critical hindrances to quality hiring. JD match algorithms can eliminate the dependence on the sourcer’s. AI based algorithms can easily eliminate the biases on gender, age, demographic need etc.
5. Reduce Sourcing Budgets
- Talent acquisition costs accrue when a new position is filled for the first time, or an existing position is refilled due to turnover, and when employees switch jobs internally. Using cost-effective, smart cloud based sourcing technologies can reduce the need for recruiting agencies and decrease your cost of advertising. These technologies enable you to recruit faster from a wider network of qualified candidates, build stronger relationships with active and passive job seekers, and earn a higher return on your sourcing investments.
6. Continuously Improve Your Sourcing Strategies
- Analytics and reporting help you understand what sources are working and how to optimize your budget and sourcing efforts. With a fully integrated solution sources are tagged throughout the recruiting, hiring, and onboarding processes giving you an unmatched level of visibility.
One such platform is nextjob, where almost all tasks of a recruiter mentioned above are automated; yet with an high degree of human touch. Come have a look at the product and see where the recruitment tech is going and how fast….
