The growing need for a more streamlined hiring process has resulted in an increased demand for automated hiring. HR managers and recruiting agencies are now delegating most of their workload to this technology and reaping the long-term benefits of automated recruitment software by saving time & money and allocating their energies to more strategic work.
With a month-over-month increase in job postings, the hiring volume is forecasted to increase as well. This means that the popularity of automated recruitment software will grow and more and more companies would want to invest in it.
In an age where data is king, recruiters are under immense pressure to deliver data-driven KPIs as well and the quality of hire is one of the most crucial measures of a hiring team.
According to statistics, a bad hire can cost a company $15,000, and missing out on the desired candidate can set them back around $30,000.
Custom enterprise software is changing the way various departments operate and it is proving beneficial for recruiters too. By automating the hiring process and organizing it via recruitment software, the HR personnel can hire smarter, find top talent, & gain a competitive edge.
Here are the top 3 ways cloud-based hiring software, such as IntVue, can revolutionize the way organizations pursue talent recruitment.
Benefits of Automated Recruitment Software
1. It is Cost-effective
The ability to accelerate the hiring process, without compromising on quality, is enough of a reason to look for alternatives. However, traditional ways can be quite expensive too.
They are lengthy, lack organization, and often require more resources to manage them. Making the whole process quite expensive. Moreover, as discussed earlier, a bad hire or losing a good candidate can cost organizations tons of money.
One of the major benefits of recruitment automation is that it streamlines the workflow and makes the process organized. With recruiting software like IntVue, recruiters can simultaneously conduct multiple one-way video interviews, allowing them to do more in less time. It gives them an opportunity to review more candidates and deploy minimal company resources.
Moreover, it is cost-effective for the candidates too since they don’t have to travel or pay for food and rent (if the interview is in a different city).
2. Quality Hiring
Determining the quality of hire is easier said than done. Mainly because there is no universal standard to measure it against. However, you can ensure quality by finding hiring resources that best fit organizational needs. According to LinkedIn, the quality of hire can be determined by:
- Employee Retention: How long new hires stick with the organization.
- Time to Hire: The time it takes to fill the position.
- Satisfaction: Post-hire degree of satisfaction at the recruiters’ end.
- Job application Completion rate: This metric takes into account the number of candidates that engage with the job application or the hiring process. The higher the better.
- Call back Rate: The number of candidates who reach out to the recruiters after being contacted.
- Interviews conducted per hire: This metric gives a rough idea of the effectiveness of the hiring process. To measure it, recruiters take into consideration the number of interviews conducted before hiring an individual. More interviews mean the recruitment process is effective.
Metrics such as time to hire and interviews per hire can be positively impacted by the use of automated recruiting software like IntVue. You can create unique question sets for each role, create an interview link, and share that with multiple candidates under the same role, with a single click.
It will make candidate screening more efficient & productive, allow you to conduct more interviews per hire, and ultimately decrease the time to hire. Helping HR managers hire quality candidates, fast. Thus making an organization’s recruitment process much more effective.
3. Saves Time
Finding top talent in the least amount of time is one of the top priorities of any recruiter. The most productive way to achieve this is by automating more mundane tasks.
For instance; through automation, candidates can easily access, fill, and submit applications. Besides task digitization, automation enhances communication & trust between candidates and employers and personalizes the hiring process. Moreover, building a talent pool allows recruiters to stay in touch with candidates and constantly update them regarding new job openings – Making the time to hire short & effective.
Finding a candidate who complements your organization’s culture, possesses the required skill set, and is ambitious, is the utmost priority of any recruiter. However, it is rather challenging to achieve that.
You can either rely on time-consuming, high-cost, and less productive traditional methods to find the right candidate or let IntVue speed up quality hiring for you. To learn more about our cloud-powered recruiting software, visit our website. Or you can sign up and start your free trial today.