How Predictive Hiring Is Changing the Recruitment Process
When it comes to evaluating potential job candidates, there are several different factors to consider. A person’s CV or resume tells the hiring manager where a person has worked, but it doesn’t tell them if these candidates are willing to embrace their company’s culture. Candidates also write their CVs themselves, indulging or emphasizing certain details over others and condensing years’ worth of professional experience into a single sheet of paper.
When employee turnover can cost anywhere from 15 to 20% of an employee’s annual salary, companies need to dig deeper when evaluating candidates to make sure they’re choosing the right person for the job.
That’s why so many hiring managers and recruiters are turning to artificially intelligent hiring platforms that match potential candidates to open positions based on a variety of factors, including their CV and other application information.
Learn more about what’s known as predictive hiring and how it can help you streamline the recruitment process.
Predictive Hiring: Looking Beyond the Resume
AI-powered predictive hiring platforms draw from a vast well of applicant information to predict which candidate will perform best in a given role at the company. The system assigns each candidate a numerical score based on their ability to perform essential duties and responsibilities and embrace the company’s culture, so they can succeed in their new role.
A candidate’s CV is just one part of the story. More than anything, it tells the hiring manager how these candidates see themselves. That’s why predictive hiring platforms incorporate many different factors into the selection process, including:
- The candidate’s CV
- Their social media profiles
- Skills assessment
- Trail assignments
- And other quantifiable information
The platform will then compare these candidates based on the nature of the open position and the specific preferences of the hiring manager. This may include:
- Essential duties and responsibilities of the open position
- Company culture
- Traits associated with employees that have been successful in similar roles
By the end of the recruitment process, the hiring manager can quickly compare different candidates based on their numerical score, so they can find the right person for the job in just a few minutes.
The Benefits of Predictive Hiring
Hiring and training new employees can easily cost corporations thousands of dollars. Choosing the wrong candidate will slow down internal processes and stymie creativity and productivity for years to come. But predictive hiring gives hiring managers the tools to make more informed decisions when evaluating candidates.
Using these platforms can improve the hiring process in the following ways:
- Choose candidates with greater ROI
- Streamline hiring and on-boarding processes to save time and resources
- Reduce employee turnover
- Boost employee productivity by onboarding candidates who align with the company’s culture
Recruiters and hiring managers can analyze the field of candidates in just a few minutes so they don’t have to gloss over hundreds, or even thousands, of resumes before choosing which candidates to bring in for an interview. They can spend more time getting to know the most promising candidates on their list to make sure they’re hiring the right candidate for the job, beyond their basic skills and qualifications.
Considerations for Predictive Hiring
As exciting as this recruitment technology can be, predictive hiring platforms are simply tools that allow hiring managers to evaluate candidates faster than they would on their own, but that doesn’t mean these programs are choosing candidates on their behalf. AI platforms will assign each candidate a numerical score based on their ability to acclimate to the position in question, but it’s up to the hiring manager to make the final decision. These platforms can help hiring managers choose which candidates to bring in for an interview so they can focus on getting to know the person instead of just relying on a numerical score.
AI models can also make mistakes, failing to grasp the candidate’s overall ability to succeed in the role in question. Hiring managers may need to experiment with these predictive hiring models to make sure they’re getting accurate results. Otherwise, they may end up evaluating candidates on the wrong set of qualifications.
As companies look for ways to simplify and improve the hiring process, predictive hiring isn’t going anywhere any time soon. Hiring managers should embrace this technology while tailoring it to meet their organization’s specific needs. At the end of the day, hiring candidates is still a personal decision.
If you want to learn more about the latest hiring trends, sign up for talent acquisition conferences to hear more about this technology.