Applying for jobs has never been more sophisticated. From both the applicant and hiring manager’s perspectives, technology has changed the current and future state of talent acquisition forever. Now, everyone has their own opinion, good and bad, but it’s hard to argue the improvement in overall efficiency and the impact on the future of work. HR and recruiting teams can streamline their hiring activities using automation, while applicants can utilize technology to interview for a position anywhere in the world.
Yet surprisingly, even with all these technological advancements at our fingertips,
Over half (51%) of recruiters say they are not using any hiring software and 95% currently do not use any AI in their hiring process.
This correlates to why such few jobseekers encounter advanced technology in their application experience.
Most experts agree that it’s essential for hiring managers and applicants to understand and utilize tech advancements to stay relevant. A winning combination includes both digital and human interaction. Being too heavily skewed in one direction or the other will eliminate opportunities. As the future of work continues to shift, ensure you evolve with it. Kronos Workforce Dimensions Talent Acquisition can help hiring managers evolve and stay efficient, drawing in top talent and ensuring job applicants enjoy a seamless application process.
You’re likely aware of artificial intelligence-powered resume screeners and video interviews, while cutting-edge capabilities including chatbots, skills and behavior testing, and virtual reality gamification are becoming more mainstream.
Numerous companies are rolling out AI chatbots, including Furhat Robotics’ Tengai, which can handle cumbersome tasks including arranging interviews and answering candidate questions. Studies show that chatbots help HR professionals save up to 75% of their time spent on similar tasks.
Online Personality and Psychometric Skills:
There are online testing tools available that can be used to conduct various employment scenario tests. These tools glean insights into a candidate’s skillset, behaviors, and potential cultural fit. This technology can analyze numerous visual and verbal cues from a candidate including expressions, tone, and word choice as well as the ability to conduct competency tests on candidates to assess emotional and cognitive abilities.
Virtual game-like situations can be used to assess a potential candidate's fit through personality and skill set testing. This includes problem-solving ability and decision-making skills.
The combination of these technological advancements in the hiring process results in vast improvements with hiring accuracy. With the average cost of turnover at $15,000 per employee, companies can save millions of dollars in potential losses by mitigating employee turnover.
Three Benefits of Finding the Right Combination of Technology
EfficiencyThe process of screening resumes efficiently remains talent acquisition’s largest challenge. 52% of talent acquisition leaders say the hardest and most drawn-out part of recruitment is identifying the right candidates from a large applicant pool. This lack of efficiency impacts applicants too, with the average time to hire (industry agnostic) sitting at 23.8 days. The trick to getting back your time is the utilization of efficient recruitment technology that can review and rank applicants quickly.
Improved Quality of HireTechnology can improve quality of hire through standardized job matching. There is an inherent risk of poor hiring decisions being made due to poor applicant screening, which is a waste of valuable time and money. However, technology can improve the process and make it more accurate. The ability to use online video interviews, chatbots, digitalized personality tests, and gamification enables hiring managers to create greater standardization throughout the organization, resulting in a higher quality of hire.
Function More StrategicallyEveryone wants more time to think strategically, yet day-to-day tactical work takes up most of a hiring manager’s time. With the implementation of time-saving, decision-making technology, hiring managers can combine their skill-set with tech to save time and be more confident with their hiring decisions. More time allows for hiring managers to focus on achieving additional professional goals.
Everyone has different expectations and needs when it comes to the talent acquisition process. A key goal for employers is to strike a balance between new technology and traditional hiring methods to appeal to all candidates.
Technology has dramatically impacted talent acquisition for hiring managers and applicants. Both sides have seen an improvement, including improved time to hire, quality of hire, and reduced costs. For hiring managers, technology will help ensure they stay relevant and effective while applicants will enjoy a smoother and more balanced experience.
Top talent expects a top-notch application, interviewing, and onboarding experience. Automated tools can help managers and recruiters screen, track, and hire best-fit candidates. Kronos helps simplify the recruiting process while helping you meet time-to-hire and cost-per-hire goals. Once you’ve made a hiring decision, click below to see how Kronos’ single unified platform creates a seamless flow of information into the employee record, reducing errors and saving time.