The recruitment process involves multiple touchpoints and the process is time consuming owing to the careful assessment required at every stage of hiring. With an increase in the number of applicants for any jobs, the diversity of skillsets, and multiple open job positions, the ability of the hiring process to evaluate candidates efficiently while reducing the costs has been one of the major challenges in the Recruitment Industry.
In this article, we discuss with you the three core modules of TurboHire and what is it that TurboHire is doing that is creating a difference for recruiters. Hiring is not just about finding the best candidate, it is also about the smooth sailing of the entire recruitment process.
The Core Modules Of Intelligent Hiring
Recruitment begins when there is a need for a new employee and ends when the chosen employee enters the onboarding phase. Understanding what kind of Recruitment process your team would need can be really beneficial. With this knowledge, you can attract deserving candidates to your organization by capitalizing on opportunities to improve each step of the recruitment process.
Let us consider the three core modules of a successful recruitment process and discuss them in detail:
- Discovery: Discover talent that matches your requirements with AI-enabled search.
- Interview: Schedule and conduct high-quality live and one-way interviews to attract and manage your best-fit candidates.
- Structure: Keep track of all the developments in your talent pipeline. Generate hiring reports and customize your applicant tracking system.
Within a single year, HR professionals and Recruiters alike collect thousands of millions of resumes. But once these resumes go into your Applicant Tracking System, most of these resumes are never even looked uponn. The major reason for this is that originally ATS wasn’t designed to feed this type of functionality. Although most ATSs allow you to use keywords and Boolean searches, they have two major limitations to it:
First, finding candidates who are not actually the most qualified due to resume keyword stuffing. Second, ignoring candidates who are actually qualified due to overly specific (or inaccurate) keywords and searches.
With TurboHire, Candidate discovery is structured differently because it uses AI to find the right candidates in your ATS using the following 4 steps:
- Integrates into your existing ATS to add a layer of intelligent sourcing functionality.
- Scans the job descriptions of open roles to understand the qualifications needed.
- Sources your existing resume database to find candidates that match the qualifications needed for an open role based on their experience and skill set.
- Shortlists and grades matched candidates to your open roles A to D.
Once you’ve identified qualified candidates, it’s time to narrow down that list to what you deem the very best.
Screening begins with reviewing applications that consist of resumes, portfolios, and motivational letters. The aim of reviewing these documents is to find candidates whose skills, qualifications, and experience best match the role that you’re hiring for.
Once you’ve chosen the candidates who impressed you the most on-screen and paper, they’re moved to the next phase of the process – a telephone interview. Candidates who make this cut are shortlisted and invited to a face-to-face interview.
The interview is the next stage after completion of the screening process. If you consider the recruitment funnel the average number of candidates who enter the interview stage will be 10% of the candidate pool. This means if 100 candidates apply for a job only 10 candidates enter the interview stage. In this stage, the recruiter will sync with the hiring manager in conducting interviews and evaluations.
In the normal scenario, the recruiter will have to communicate with the selected candidates on the interview schedule and the same needs to be synced to the hiring manager/interviewer. It takes an average of 35 mins for conducting an interview process of which 25 mins are for the interview and 10 mins for evaluation. In the successive stages of an interview, the number of candidates keeps reducing. The total time involved in this process will be 7.42 days.
Improvements Provided By TurboHire
The improvement provided by the platform is around 75% where 7.42 days is reduced to 1.22 days. All this improvement is due to the Asynchronous Interview mode and One-click scheduling of Interviews.
A large part of today’s Candidate Experience involves how well you nurture and re-engage potential candidates and previous applicants. Contacting a candidate again with a job opportunity they’re qualified for can really differentiate your recruiting process away from the dreaded applicant black hole. In today’s competitive candidate-driven market, finding talent will depend on a recruiter’s ability to leverage new sources of candidates.
According to LinkedIn, although 90% of working professionals would be open to hearing about new job opportunities, only 36% of candidates actively search for a new job.
Finding the right talent is critical for businesses, but currently, the process is rather ineffective and costly. The risk of hiring the wrong person is high because HR professionals will often rush through the process. In a survey, 43% of recruiters said that they made a bad hire because they felt pressed to fill a position fast.
With TurboHire, this cumbersome process can be automated. By using post-hire information, functionalities can be added to the applicant tracking system (ATS) that the company utilizes. As a result, better recommendations and choices can be made when new candidates are examined for a certain position.
You would be surprised to know that only one percent of Fortune 500 companies are relying on artificial intelligence tools for enhanced recruitment processes. However, such data may be misleading. AI recruitment and candidate selection may be featured as a capability within a more comprehensive software solution that the business relies on. The fact that companies aren’t opting for AI candidate tracking solutions specifically does not necessarily mean such tools are not a part of the HR process.
TurboHire’s platform can eliminate the number of bad hires. This is a problem that we’ve already highlighted as rather costly. A bad hire can cost businesses a lot due to the specifics of the onboarding processes. Fewer mistakes will diminish the loss of important resources.