The U.S. Department of Labor estimates that the average cost of a bad hire amounts to at least 30 percent of the individual’s first year expected salary. While there are a number of reasons why the wrong candidate may be selected for a position, you can minimize this risk by harnessing the power of technological recruitment tools.
Why are Recruiting Tools Important for HR?
Recruiting tools are important for HR because they can help ensure that the right candidate is selected every time. The human factor in recruitment is indispensable to a successful hire. However, the perfect blend of the human factor and technological tools can effectively streamline each component of the recruitment process.
Let’s take a look at a number of ways tools for recruitment could assist your team.
Assessing Soft Skills
Hiring candidates with the right soft skills has become an integral part of recruiters’ strategy across a range of industries. According to a LinkedIn study, 80% of companies believe that soft skills have become increasingly important to their success. However, only 41% of companies have a formal process to measure them. For this reason, the subjectivity in evaluating the soft skills of a candidate can often lead to frustration.
Enter Quantified Communications, a platform designed to unlock a definitive way to select the best candidates. By utilizing AI to measure soft skills, the company’s recruiting software empowers recruitment specialists to evaluate large groups of people and receive objective, data-driven measurements.
So, how does the tool assess the interpersonal communication skills of a candidate?
The software employs the power of natural language processing, vocal recognition, and facial analysis to predict an individual’s social impact on a group.
Ultimately, it can help you assess a number of candidates’ personality traits, including confidence and trustworthiness, with far more accuracy than other subjective assessment tools.
More recently, the adoption of video interviews has exploded. The cultural shift towards a global workforce and remote work has contributed to this growth. According to a Global Workplace Analytics report, over 3.6% of the U.S. workforce (more than 5 million people), currently work from home for at least half of the work week. This trend is set to continue with 74% of CFOs planning to permanently shift at least 5% of their workforce to remote work. Consequently, recruitment managers are increasingly relying on video interviews as a valuable part of their hiring strategy.
To address the changing nature of recruitment, HireVue provides recruiters with more than the standard online video call service. The OnDemand video interview feature allows candidates to interview on their own time by recording their answers to structured interview questions. This enables recruiters to screen more candidates in significantly less time, while also eliminating the tedious task of scheduling interviews with candidates.
The software also has an impressive predictive analytics feature along with useful reporting tools.
Optimizing the Recruitment Strategy
Recruitment strategies have never been as complex as they are now. They often consist of multi-layered steps and incorporate various forms, such as gamification, assessments, online games, personality tests, AI, or job review sites. These modern assessments, intended to improve hiring, often fail to support overall recruitment goals.
To evaluate the effectiveness of your strategy, the GapJumpers tool provides an analysis of your unique recruitment process.
In addition to an examination of how your recruitment team attracts, screens, and hires candidates, it highlights any existing barriers between your strategy and goals.
For example, the Blind Hiring feature tackles one of the most common challenges in recruitment: unconscious bias. By implementing this feature, you can eliminate a flaw in human-driven recruitment that may prevent you from hiring the most qualified candidate.
Conducting Background Checks
Background checks are an essential measure to ensure that a candidate is suitable for your team. This process is not new to recruitment managers. According to HR.com, 96% of employers conduct at least one type of background screen on new hires. Though the majority of employers use background checks, they are time-consuming and can further delay hiring.
Fortunately, automated tools are rapidly redefining the process and saving recruitment teams immense amounts of time spent performing background checks.
Online tools like Hireright make it easy to verify candidates’ credentials and ensure they are a perfect fit for your company.
They cover a range of background screening topics including
- Criminal checks
- Employment verification
- Drug testing, and
- Form 1-9.
Applicant Tracking System
According to research from Jobscan, 98% of Fortune 500 companies currently use an Applicant Tracking System (ATS) to sort and filter resumes before a recruiter reviews them. By weeding out applicants that don’t meet the minimum job requirements, ATS allow recruiters to focus on assessing the most qualified candidates.
Recruiting software service Greenhouse has been a major player in the ATS market since 2017. Greenhouse sources candidates from a range of job sites, including Indeed, Glassdoor, and SimplyHired.
The tool is fully customizable and offers the user automatic scheduling, messaging, reporting metrics, and pipeline review. You can also access over 30 core reports that analyze your process, enabling recruiters to make data-driven decisions and optimize their strategy.
Create Your Customized Recruitment Strategy
Every recruitment team has unique needs and challenges when finding the right candidate for open positions.
By incorporating technological resources, you can customize your strategy based on data-driven insights, automated technology, and advanced tools that can save your team time, money, and energy.
Technological tools can have a powerful impact with the ability to inform every aspect of your recruitment strategy. Recruitment managers who understand and harness this power will be in the best position to hire top candidates.
Here at Barometer, we measure employer brand as it’s represented on employer review sites, including Glassdoor and Indeed. You can take the first step towards optimizing your recruitment strategy by understanding candidates’ experience and the recruitment tools that may serve you best. Click here to learn more!