2019 will bring a new set of recruiting trends that will significantly impact recruiting process. Are you ready to implement these new recruiting trends or will you be left behind?
Hiring managers confess that nearly 50 percent of new employees do not fulfill their job obligations in the first 18 months of employment based on research conducted by Leadership IQ.
Why is the hiring system failing? What is the problem in the traditional hiring system?
1. Resume Screening
With a little embellishment, clever wording, great font, good spelling and grammar, pretty much anyone can look good on a resumé.
Also, recruiters aren’t spending much quality time reviewing anybody’s resumé.
“Recruiters spend an average of six seconds reviewing an individual resumé.” Time magazine
Therefore the standard screening process is a two-fold flawed process; one that can be easily hacked by using catchy resumé and the other in which the applicant may possess the desired skills an employer wants but the recruiter doesn’t see that and their resumé gets tossed.
2. Balancing speed of hire and quality of hire.
Recruiters face one of their biggest challenges when it comes to balancing the speed of hire with the quality of hire. Although you want to recruit a candidate as soon as possible, there is always an urge to get the best talent possible which usually takes time. Increasing the recruitment speed is perhaps one of the hardest tasks for the recruiters.
3. Cost of the Hiring Process
Recruitment costs are very often overlooked. Recruiters spend countless hours trying to find the perfect candidate for their needs, leading them to go through extensive research on countless candidates. This research, however, is not free.
Therefore the speed of hiring directly impacts the cost of hiring.
4. Candidate experience
If recruiters are unable to provide superlative candidate experience during the hiring process it can create a bad impact on the overall corporate branding of the organization. Recruiters have to end the hiring process properly with candidates, even if they are rejecting them. If you are not doing that it will have a negative impact on creating a talent pool for the future.
5. Biased hiring decisions.
We are in 2019, but we still see biased outcomes from some companies when they’re recruiting people. Recruiters can have unconsciously biased decisions related to age, gender, ethnicity.
How AI is inevitable in recruiting?
Artificial Intelligence (AI) has taken a strong foothold in recruiting and will likely continue to take over some of the more repetitive aspects of every domain.
AI-powered screening software can learn which candidates moved on to become successful and unsuccessful employees based on their performance, tenure, and turnover rates. It also learns what existing employees’ experience, skills, and other qualities are and applies this knowledge to new applicants in order to automatically rank, grade, and shortlist the strongest candidates.
35% of talent professionals and hiring managers say that AI is the top trend impacting how they hire.
Emotional AI can recognize facial expressions and deduce personality traits will make the traditional interviewing process more transparent. AI will decrease the time of hire and increase the quality of hire and simultaneously decreasing the cost of hiring.
AI-controlled feedbacks would bring a positive candidate experience. AI has also been helpful in removing bias and promoting diversity. But it all depends on how we are training the system.
CONCLUSION
It’s 2019. With private companies launching rockets into space and technology recognizing faces, the question is “Why is the current hiring process the same?” There has to be some change in the hiring process; with Fazed.AI employers can bypass the current hiring process and cut the current hiring process at least in half.
Instead of screening hundreds of candidates, interviewing dozens more, and risking not even finding the right candidate, Fazed.AI does that all for you and take the financial and time burden off from the employers.
This article was written by Darshita for Karv Analytics.
Thanks for reading!
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