Do most people you hire turn out to disappoint you? If yes, then you are in good company. Studies have shown that only 25% of the people that most managers hire actually turn out to be the high performers they hoped for, expected, and possibly paid for. Out of the remaining 75%, 50% turn out to be just about average, and a whopping 25% are low performers. These statistics are worrisome, especially when you consider that hiring mistakes cost companies millions of dollars each year.
Hiring the right people is a crucial part of the success of a company. However, it is not as easy as distinguishing between apples from oranges. Knowing how well a candidate will assimilate to their surroundings, excel at their field of expertise, or apply their skills at the workplace is difficult during an interview. Nonetheless, it is crucial for human resource personnel to assess whether a candidate will indeed apply their technical skills and manage relationships with their co-workers successfully. Gaining insights into these questions will give the recruiter a clearer picture of whether an individual will be the right fit for the organization.
To help recruiters cope with this difficult challenge, we’ve come up with some proven hiring tools that should be considered during the interview process. These tools will enable recruiters to reach their full recruiting potential and minimize the possibility of letting through bad hire/s.
Stand-Alone ATS (Applicant Tracking System)
An Application tracking system can be a potent tool in the right hands. It lets recruiters identify, attract, and hire quality resources in quick time. The modern tracking system allows a recruiter to maintain a centralized database of all the candidates. The system includes benchmarks for certain skill sets that allow recruiters to screen prospective candidates based on their level of skills. This way, only the best candidates are able to clear the initial screening and move forward in the hiring process. There are a number of other benefits that an ATS system can help recruiters streamline the hiring process. ATS systems are available for download online and can be purchased at a marginal cost. There’s no doubt that it’s a system well worth investing in.
Candidate Selection Tools
Recruiters make the silly mistake of relying on a candidate’s resume as the only source of information. Resumes, though useful, are ineffective in letting a recruiter predict whether the candidate can perform on the job. A candidate selection tool helps recruiters objectively measure whether a candidate is best-qualified for the job, or just has a fancy resume. Most candidate selection tools will let you choose from a number of positions like manufacturing, human resources, marketing, sales, etc, and they let you create different skillsets for that specific position. During the interview, recruiters can rate candidates based on their positions and the skill sets defined. This process makes the initial screening process simple and recruiters are assured that only the best candidates move through to the next round of interviews.
Talent Intelligence System
Artificial Intelligence (AI) has taken great strides in a number of industries like manufacturing and product development. Talent Intelligence System is a revolutionary new AI platform by which recruiters can find new talent and interact with the interviewee. This system uses data from the market, competitors, and other sources to give recruiters better insights into talent quality, overall candidate experience, and other recruiting metrics. Talent Intelligence Systems can be easily integrated into existing systems like SAP, ATS CRM, and others, to help recruiters identify job market patterns and insights into a candidate’s experience. This system makes it useful to source new candidates and gives recruiters a better picture of a potential candidate, the job market in general, or even their competitors' hiring patterns.
Recruitment CRM (Candidate Recruitment Manager)
A CRM can help you streamline the entire recruitment process by creating new and maintaining old relationships with candidates. The platform gives recruiters a holistic view of the hiring process, allowing them to make swift judgments about potential candidates’ hire-ability, skill sets, job specializations, and other recruiting metrics. A CRM is a more modern extension of the ATS and is often confused with its older sibling. In fact, the acronym CRM is more closely associated with Customer Relationship Management. It is for these reasons that most modern CRMs are packaged as ATS as they are widely accepted in the industry.
Equipping your recruitment team with these tools will allow them to make better hiring decisions and save considerable time and money. These tools in the long run will also help your organization become more competitive and hire the right resources. Make sure you find the right tools that fit your business and empower your HR team to new heights.