Great talent comes at a cost, and the eye to identify that talent has often proved to be one of the biggest pain points for companies of all sizes and scale. According to a report by TalentNow, hiring managers are facing multi-pronged challenges in their recruitment process, and most of those have to do with acquiring candidates that would stay and perform.
For instance, 42% of employers are worried they won’t be able to find the talent they need. And, nearly three-fourths of these managers are not even sure if the candidates that have applied and that they are currently interviewing are actually relevant for the vacant positions. With job search becoming relatively easy for candidates, it’s time for the recruitment managers to up their game and ditch their instincts in a technology-driven hiring market.
We have pointed out some innovative ways hiring managers can leverage Hiring Technology for recruitment:
Poker for Hiring: Ditch the Traditional CV Screening
Resumes never tell the full story, but they are still very important assets. An average hiring manager could be screening anywhere between 10 to 350 CVs/biodata in a month. Human eye and brain can’t deal with this volume of data, collected in paper or online format. Ditching the bias and instinct right away is advised. Relying on CV screening platforms in the HR Technology stack could save hiring teams hundreds of hours, that is otherwise wasted in picking keywords and filing them. With new-age technologies such as AI, Machine Learning, Voice Search and Natural Language Processing, hiring teams can refrain from playing poker with CVs and let intelligence rule the order. For instance, Hiretual provides AI in HR recruiting solutions for 10x faster recruitment and hiring. Similarly, tools such as Koru Hire provide an unbiased insight into CVs that are the best fit for the current role based on benchmark keywords (skills, experience, region, etc.).
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CRM for Hiring: Candidate Relationship Management
In the HR Technology landscape, Candidate Relationship Management (CRM for HR Managers) plays a very important role in sourcing, engaging, and converting candidates into employees. In fact, TalentLyt promotes one of its products as a tool for Recruitment Marketing. It states the entire process of recruitment could be broken down into Employer Branding, Inbound Recruiting, Candidate Experience and so on. With technology, you can be more confident about placing the right people with the right culture-fit into the right roles. Whether you are hiring for full-time, part-time or on contract, CRM for Talent and Hiring is a great asset to invest in. It solves more problems than you can possibly fathom in the current scenario, where fake data (fake profiles, candidate IDs, etc) can be easily created and distributed.
Powered by the new-age technology of data, analytics and predictive intelligence, CRM for Hiring Managers actually help in building talent pools from online job search boards, social media platforms, employer reputation management websites, and individual employee referral systems. This empowers Hiring and Recruitment teams to build a relationship with the potential candidate much before the traditional hiring journey begins. All the data collected from these sources and others are filtered into CRM for Hiring Managers to significantly improve and speed up the recruiting and hiring process.
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Knowing the Pulse Using Predictive
Hiring Management teams can take a more integrated approach toward recruitment using Predictive Analytics. Using this novel technology for HR, recruitment teams can address the various hidden and obvious intent of potential candidates during the talent sourcing journey. During the sourcing process, Talent Identification tools leverage predictive capabilities to identify and analyze the micro and macroeconomic aspects of talent data. This data includes pointers to location, current employability status, fitness, diversity and criminal records.
Tell Your Own Hiring Story: Data Visualization
Using location and mobile data platforms integrated with data visualization and HR platforms, recruitment teams can zero in on a particular region to identify candidates. A more integrated approach could be adopted when it comes to communication tools. Data Visualization tools for hiring and recruitment collect data from pulse surveys, emails, social media, events and so on.
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Personalized, Automated Email Response
60% of the candidates never turn up at the interview because of poor communication and email response. Treat your candidates as customers who are looking for a delightful experience. Personalized emails for interview invitation, offer letters and the subsequent process can remove the bottlenecks in hiring. Use of formal language and template-based email structure also showcase the commitment toward the candidate that they would be best looked after from Day 1.
LinkedIn and Party: Hiring is 100 times Easier
Nearly 50% of the candidates looking for a technology-related job rely on LinkedIn, Glassdoor and Facebook to find out about the job descriptions and company’s reputation in the industry. Let’s take LinkedIn alone, as a case here.
LinkedIn has over 575+ million users, with more than 260 million monthly active users. Nearly, 90% of the recruitment teams rely on LinkedIn, advertising 14 million job openings daily. On average, a LinkedIn-sourced candidate is most likely to stay in a company for more than six months.
HR Technology companies are making significant investments to build their products and solutions to source and recruit the best candidates. With better data and analytics at your fingertips, complementing other tools in the contemporary HR Technology stack. By leveraging our articles on the HR Technology landscape for Hiring and Recruitment solutions, you can learn about Hiring Technology companies that help to consolidate all talent pools into a single, intelligent pipeline, combining the past applicants from your ATS, from resume databases and job boards, and from open web sourcing.