Getting the right candidates will boost your company’s productivity and performance. When conducted correctly, hiring adds value but is very costly if you get it wrong.
Bad hires can cost you about a third of their first annual salary. However, it can be more costly than that. The resources and time you use to train and onboard them can exceed monetary values. In a nutshell, unsuitable hires can drain your company’s resources, time, and energy.
Every day recruiters are sending out information regarding thousands of vacancies for their firms. It is much easier to hire incorrectly where there is a large volume of applications pouring in. But, that is only true for the traditional recruitment process.
Modern AI recruitment eliminates the risk of bad hires and their associated costs. In addition, it has HRM software tools that leverage the entire recruitment process.
This article highlights how HRM software helps you get the right candidate from the screening to the selection stage. Let’s explore it!
How HRM Software helps in the Pre-Selection Stage
The pre-selection stage is the foundation of the recruitment process. It helps you understand the job roles you want to fill. Additionally, it allows you to communicate the necessary job details to attract the right candidates. Thus, the recruitment process planning starts with job analysis and application.
Job Analysis & Application
You should ensure all the necessary details of the role are included in the job post. Clear and quality communication helps attract interested candidates.
Secondly, formulate your application process. Is it manual or online? If it’s an online application, is it mobile-friendly? Talent recruitment platforms can help you test your application process.
Such a test is essential in ensuring a smooth candidate application experience. For instance, a poor experience may lead to applicants stopping halfway. And this may include some of the best and quality candidates.
How HRM Software helps during the Selection Stage
The initial screening is the second crucial step after the job analysis and application. Screening is essential as it helps shrink the number of candidates in the pool to a manageable size. Here are some of the phases of the selection stage:
Resume Screening
When it comes to bringing down the numbers, CV or resume screening is common. With resume screening, you’ll know if the job applicants meet the desired job’s expectations.
At times, the position you are filling might need 10+ years of work experience. Naturally, everyone would like to give it a try. However, you might end up having applications from a fresh college graduate applicant. Resume screening will help you to eliminate such a candidate and allow you to retain the most qualified as per the set requirements.
Depending on the size of your organization, you will notice that evaluating a CV is time-consuming. However, human resource management software makes this process cost-effective and time-efficient.
You can use an Application Tracking System (ATS’s) built-in resume screening tools. Alternatively, resume screeners with the help of artificial intelligence will help determine the quality of hire. You can screen an entire talent pool or network instantly. Also, you’ll be able to sort them based on skills level and learning needs.
However, ensure you don’t misuse this technology. In addition, you need to ensure that the HRM software is taken for a regular review to eliminate software bias.
Phone Screening
A phone (or video) screening is the next phase after a resume screening. Phone screening is essential since it can help align the candidate’s and employer’s expectations. During the phone screening stage, you can ask candidates any questions you may have.
What are your organization’s deal breakers? Once you have this listed down, you can creatively go over the subjects during the screening. For instance, are they available full-time or part-time, and what are the work hours? What’s their salary expectation? When are they willing to begin if they get the offer? Do they have flexible working alternatives?
Using HRM software like a chatbot-enabled system can help you ask these questions. In addition, with the increasing dependency on technological advancement, it is possible to conduct automated screenings during talent recruitment.
The advantage of having chatbots ask candidates questions makes the interview process engaging. Besides, using a chatbot for phone screening has a noticeable completion rate compared to the traditional.
Pre-selection Assessment
Pre-selection assessment is essential if you are handling large volume applications. Some of the tools in this category are cognitive testing and job simulation. These assessment tools will help you get the best quality hires in a new talent pool.
For example, a job simulation tool leverages AI technology to provide realistic job previews. The previews show both the exciting and challenging aspects of the roles. As a result, it helps get an authentic insight. In addition, it enhances the alignment of recruiter/employer and candidate expectations. Hence, leading to hires that highly match requirements.
Additionally, AI-powered talent recruitment allows you to scan and get the best matches quickly. It also eliminates bias. As a recruiter or employer, you’ll save 60% of recruitment time. This allows you to shortlist candidates with the highest match and schedule interviews swiftly.
Interviews
The interview is the most essential step after the pre-selection assessment. This is a crucial stage as it helps the recruiter and the applicant determine if they’re the right fit for the position.
During the interview, you can easily get an understanding of the applicant’s charisma and verbal fluency. Apart from asking the candidates about their work experience and expectations, you can pitch this position to them.
HRM software allows this phase to be conducted online as well. You can take advantage of this software and conduct two interview stages. The first stage can be a remote interview, and the in-person interview can be the final stage of the hiring stage.
The HRM Software is an effective time manager and cost reduction strategy for both the candidate and business.
Moreover, with the COVID 19 pandemic, most businesses preferred using the HRM software for interviews. Remote interviews are set to continue even post the pandemic owing to their ease. Therefore it is crucial to have the software for better selection.
Final Thoughts
Hiring the wrong candidate can be an expensive choice for your company! They cost your business resources and time. The growth of your business is highly dependent on your staff and with the wrong recruit, this can be hampered.
As a business owner selecting and hiring excellent candidates by staffing agency should be an essential aspect of your business. To have a competitive edge, you need to invest in a robust selection and recruitment practice. As a result, investing in an HRM system is a valuable contribution to your business which will streamline and make the whole recruitment drive successful and smooth!