Over the last decade, HR departments relied on a unified, unsophisticated system that would support recruitment workflows end-to-end, from candidate sourcing to onboarding a new hire. However, as competition for high-skilled employees has recently tightened, the capacity of the existing recruitment software has proven limited for sourcing, attracting, and retaining top talent.
Shaped by the demand, the software market becomes saturated with emerging recruiting-oriented applications. Built upon AI, ML, big data, cloud computing, and other innovative technologies, they focus on streamlining or completely automating various aspects of recruitment, cutting hiring costs, or reforming the talent acquisition culture.
Despite the overall drive for innovation, security concerns are still the major deterrent for incorporating this game-changing tech. Software integration is indeed a tricky task, and when it pertains to systems rich with personal and commercial data of thousands of people, the risks become even more tangible. To mitigate them, companies should always allocate resources for security testing before their software goes live, as well as issue clear data safety guidelines for their staff.
With such a multitude of solutions to choose from, it is easy to get overwhelmed. To dispel the confusion, this article will overview the innovative HR software that can bring tangible value.
A recent Glassdoor report shows that 58 per cent of job seekers name regular and clear communication with the recruiter the major determinant of the positive hiring experience, while 51 per cent also cite a timely rejection message as another important factor. Their eagerness for feedback is understood, yet with the immense volume of applications per every open job position, hiring specialists are struggling to get back to everyone. This is where a recruitment chatbot may help to partially reduce HR management workload.
Due to the current burgeoning of natural language processing technologies, modern chatbots can mostly flawlessly imitate natural human interaction and report the conversation’s result back to the HR team in a concise form. This makes them apt for a plethora of communication-intense tasks, like asking screening questions to determine the candidate’s experience and skills, answering the person’s questions about the position, scheduling an interview, and keeping one posted on the status of their application.
Thus, a chatbot can save recruiters a lot of time and effort while ensuring that no CV falls through the cracks and that no candidate is left without feedback. And, as virtual assistants have become very common in both personal and professional lives, conversing with a chatbot will be most eagerly embraced by candidates who have learned to prioritise fast response over human touch.
Talent rediscovery systems
According to another study by Glassdoor, hiring a new worker is both costly and lengthy: on average, it takes around $4,000 and 24 days. But does it have to be this way for each new hire? Among the HR process optimisation strategies, talent rediscovery can reduce both costs and time.
Considering that a single job opening attracts hundreds of resumes, an enterprise applicant tracking system becomes a golden mine containing thousands of CVs, and some of them may be worth taking another look at when another relevant position opens. The problem is, however, that common ATSs do not make this job easy for talent acquisition managers. In the best-case scenario, they allow manually marking second-best candidates, which takes time and planning.
Instead, an AI-powered talent rediscovery tool can automate resume screening. Integrated into a legacy ATS, it can analyse open job descriptions together with the CV pool and shortlist the most suitable candidates from the extensive database based on their education, skills, and other specified attributes.
If there is communication history with a certain applicant, the software can examine it as well, refining the scoring. Some talent rediscovery software can even rank resumes based on how relevant to the position they are, allowing HR specialists to begin with the most promising leads.
Blind hiring tools
Diversity and inclusion have grown to be essential elements of the modern workplace worldwide. This policy does not only promote social justice but also sufficiently propels innovative thinking. It is also one of the deciding factors for accepting job offers for the younger generations.
Unfortunately, no matter how skilled an HR specialist is, they, as all us humans, can still be biased, consciously and unconsciously, which might manifest at an interview and govern hiring decisions. In this regard, the companies that do not want to miss a great talent due to the human factor may consider introducing blind hiring software in their recruitment practices.
Blind hiring is aimed at anonymising the applicant as much as possible and leaving only their skills and competencies for the recruiter's evaluation. Today, the market offers a decent selection of blind hiring tools: from software for composing inclusive job descriptions and ATSs that automatically conceal personal details in the candidates’ CVs to platforms for unbiased skill assessment via tests and writing tasks.
Due to its efficiency in getting around bias without overly complicating hiring as a process or straining the budget, this technology should prove a viable instrument for diversity-oriented businesses.
Predictive analytics software
Daily, HR specialists leverage loads of information about both potential and current employees. Yet, equipped with common descriptive analytics tools at best, they can only get insights about the past performances and interpret it on their own. Employing ML-powered predictive analytics software instead would allow recruiters to gain accurate predictions into the future and make better-informed decisions in various aspects of their work.
For one thing, it can help cherry-pick the most suitable candidates for each job position. The predictive algorithm will link together the skills, educational background, personal and professional data of the current and potential employees to predict each applicant’s fitness for work in this particular company, as well as their prospective job performance.
Predictive analytics can also be applied to mitigate staff churn. Employee surveys, the traditional method for measuring job satisfaction, rarely yield reliable results, as nothing prevents respondents from being disingenuous. Meanwhile, analytical software can take into account assorted historical information, from employee performance reviews and sick leaves to the date of their latest salary increase, in order to accurately predict their chances of leaving the company anytime soon. Based on this information, the HR department can pitch in to improve the employee’s working or payment conditions, if possible, thus averting their resignation.
Keep in step with the global tendencies
The labor market has become largely candidate-driven, so businesses large and small should reckon with this shift of power.
The software types listed above will allow forward-looking enterprises to not only adjust their HR activities to the pressing market requirements but also improve cost-efficiency and performance. Although the secure integration and configuration of such systems may prove technically demanding, companies can rely on external help to attend to these challenges.
Elena Yakimova, Head of Web Testing Department, a1qa