Hello friends how are you all? Today we are going to talk about the 6 Reasons Why You Should Invest in Smart Recruiting Technology. Businesses across the United States spend about $4,425 on hiring a candidate. Moreover, it takes them about thirty-six to forty-two days to fill an average position. Thus, we can see that the time and cost per hire are high. This poses a big issue to businesses as they would want to fill vacant positions as quickly and as cost-effectively as they can.
Smart recruiting technology has the potential to solve the time and monetary issues in hiring candidates. Moreover, it can also help in other aspects of business functioning. It can even save the business from legal troubles. How? Read on to find out the various benefits of smart recruiting technology and why you should invest in it.
6 Reasons Why You Should Invest in Smart Recruiting Technology
Reduces Recruitment Time
Hiring managers spend a tremendous amount of time in recruitment processes. A lot of it is utilized in carrying out repetitive, mundane tasks. For example, recruiters spend a lot of time in the interview scheduling process. They have to call each candidate, confirm their availability, and schedule the interview. Similarly, there are other tasks that eat up a lot of time.
Smart hiring tools can help reduce the time spent in recruitment processes. They can automate repetitive tasks, end human intervention, and reduce the time spent. For instance, new recruitment technology enables the analysis of a large number of resumes quickly. Similarly, smart recruitment technology can help simplify other recruitment tasks.
Improves Diversity and Inclusion
Many businesses aim to follow the Equal Employment Opportunity Commission (EEOC) guidelines. The goal of diversity recruitment is to identify, reduce, and end human biases in various recruitment processes. This includes candidate sourcing, screening, shortlisting, and hiring.
But, there is always a possibility of human bias when carrying out recruitment processes with human resources. This can lead to businesses missing out on good candidates. It can also land them in legal trouble.
Smart recruiting technology levels the playing field for candidates. An AI-based, smart recruiting tool can completely eliminate human bias in recruitment. It can screen candidates based on their skills and competencies purely.
Moreover, resumes are no longer the only touchpoint for candidates. Besides hard skills, smart recruiting tools help assess candidates’ soft skills too. Thus, businesses can achieve their diversity and inclusion goals with smart recruitment technology.
Provides Detailed Reports
The importance of data is known to all. It can help uncover meaningful insights. This can lead to the improvement of business operations, including recruitment. Smart recruitment technology can help with data gathering, analyzing, and reporting processes. This can help improve workplace hiring.
For example, smart recruiting tools can gather large, high-quality data at every stage. Data analytics tools can help analyze the data. This can help businesses analyze:
- the cost-per-hire,
- find out hiring trends, and
- calculate the return-on-investment
They can also find out shortcomings in their hiring process.
It can provide reports in easy-to-understand formats. These include pie charts, bar graphs, and comparison tables. Thus, businesses can enhance their recruitment process based on analysis and reporting. They can also make better hiring decisions based on it. This leads to the hiring of high-quality candidates.
Smart recruiting technology provides end-to-end assistance in the interview process. For instance, an AI-powered recruitment tool can schedule candidate interviews automatically. It will do this based on the interviewer’s and interviewee’s availability. Moreover, it can send automated notifications to both parties about the interview schedule.
The biggest benefit of using smart recruitment technology is analyzing the candidate’s behavior during the interview. AI-capable tools can analyze the candidate’s soft skills. These include facial features, body language, body posture, and other non-verbal cues. This can help get an idea about the candidate’s soft skills.
These include their confidence levels, honesty, and personality. These soft skills play a crucial part in the professional front.
Thus, with smart recruitment technology, businesses can make better hiring decisions. They can hire candidates having better hard and soft skills. This proves beneficial to the organization in the long run.
Ensures Regulatory Compliance
Businesses need to follow various data regulatory laws in the recruitment process. These include the General Data Protection Regulation (GDPR) law. For instance, businesses need to maintain candidate data for a minimum of six months. Failure to do so can lead to legal issues.
Smart recruitment technology helps businesses manage regulatory compliance practices. A smart recruitment tool can be used to store candidate data in a digital format securely.
As the retention period gets closer, the tool can send automated notifications. This can include deleting the data or keeping it for further use (with the candidate’s consent). If no action is taken, the tool can delete the data automatically.
Thus, businesses don’t need to worry about data protection rules. The smart recruitment tool takes care of it.
Improves Candidate Experience
According to a survey, a bad candidate experience may impact the business’s ability to sell its product. This is due to the fact that bad candidate experience can impact a business’s social reputation.
Moreover, it can also lead to candidates rejecting the job offer. One of the major reasons that lead to bad candidate experience is the lack of communication.
Smart recruiting technology can help overcome the communication barrier. This, in turn, will help improve the candidate experience during the hiring process. It can help communicate with the candidate at every step.
For example, a smart recruiting tool can provide automatic updates to candidates. It can notify them about their application status at various stages. It can inform them if their application has reached the next stage or has been rejected.
Additionally, businesses can also use chatbots can to respond to candidate queries. The chatbots can provide help to candidates on websites, social media sites, and messaging apps.
The penetration of technology in recruitment helps businesses to streamline their recruitment processes. Recruitment technologies help reduce the time and money associated with hiring candidates. It also helps in other aspects related to business operations.
If you still haven’t invested in smart recruitment technology, you should do it at the earliest. You wouldn’t want to miss out on the benefits it provides.