According to an article in Inc. Magazine, open positions in companies, thanks to the ease of electronic applications, can draw as many as 250 resumes. As a result, HR professionals are drowning in candidates.
Predictive hiring technology (PHT) can be their life preserver. PHT lets software take over the heavy lifting in HR. It reviews job applications quickly and efficiently, saving both time and money.
3 Ways Predictive Analytics Front-Loads Hiring
Expr3ss! counsels clients to rely on predictive analytics in the pre-employment hiring process. It offers three key benefits:
- Improves the quality of hires – Predictive analytics assess a candidate’s behaviour, activities, traits and performance to desired business outcomes.
- Improves the ROI for recruitment marketing programs – Hiring managers can trace the hire back to the original hiring source. This enables recruiting managers to optimise their recruitment marketing dollars.
- Improves the speed of hire – With algorithms and analytics they can rely on, HR professionals can more quickly connect with superior applicants and move them further along the interview funnel.
Reliable analytics allow human resources professionals to predict more accurately which candidates have the skills to get the job done, as well as which will be a good fit for a specific corporate culture. Predictive hiring technology allows HR professionals to:
- Remove guess work
- Reduce hiring errors
- Improve quality staff selection
- Improve staff retention
- Slash HR advertising budgets
Expr3ss!’s proprietary software and proven matching algorithms allow our customers to look around the corner and see the future.
What Comes Next For Predictive Hiring?
As reported by the respected global management consulting firm McKinsey & Company:
“…there’s consensus that (talent acquisition) functions will experience a transformation that will see deep-machine learning replace many of the time-consuming and repetitive tasks currently carried out in just a matter of years. This is particularly true for assessments, analytics and sourcing where human bias, capacity/speed are simply inferior to what computers can produce.”
In short, searching for candidates using Boolean or by scraping job boards is fading fast. Predictive analytics and cognitive computing are replacing these types of searches and also helping to assess and engage the crème de la crème of candidates.
Would your company benefit from talent acquisition with more accurate predictive hiring technology? If so, we invite you to contact Expr3ss! to discover our menu of technology solutions, all aimed at making your life easier, and your profits more robust.