In a world where fewer than 10 percent of companies follow any sort of pre-defined hiring process, how can employers be sure they’ve made the best hire?
Some companies may not realize the negative impacts of their ad-hoc hiring processes. But an ineffective and inconsistent hiring process can lead to high turnover, and employees who aren’t a good fit.
Run a Structured Hiring Process
Here’s how it works at most companies: they post a job, receive applications, review applications, interview candidates, and if a candidate “seems” like a good fit, he or she receives an offer. It’s simple, but there are major problems with this method.
First, how do hiring managers know with certainty the candidate will be a good fit with the company? With an unstructured, unscripted conversation, an interviewer cannot fully analyze a candidates’ potential. Additionally, a manager who asks different questions of different candidates for the same role will never compare the right data. If an interviewer isn’t trained to ask the right questions, he or she will resort to making them up on the spot – leading to poor choices.
An unstructured hiring process is also tedious. With multiple candidates at different stages in the hiring pipeline, hiring managers struggle to stay organized and keep track of every applicant throughout the process. With a technology-based hiring solution, companies can reorganize the entire process from the first moment the employer receives the application until the point of hire.
Leverage Predictive Data to Streamline the Hiring Process
In addition to a technology-driven hiring process, analyzing predictive data from interviews, tests and assessments can assure employers that a candidate is likely to achieve the desired outcomes. Today, fewer than 50 percent of all professional hires result in a successful hire. For employers, the wasted time and additional pain of starting the recruiting process over again can be extremely detrimental over the long run. If employers use data to fully analyze a candidates’ potential through each step of the hiring process, they will significantly decrease employee turnover rate because they’re reducing mis-hire risk at the front end of the process.
The reality for most HR departments is that critical selection data is spread across multiple systems, or, in the case of interview results, not stored anywhere, which makes it nearly impossible to aggregate decision criteria in a meaningful way. When information is concentrated on one platform – instead of scattered between systems or hiring managers – recruiters can significantly cut time when screening applications and improve their efficiency.
Implement a Hiring Platform
Hiring platforms allow for an organized home base for recruiters and managers to keep track of every candidate at each step of the hiring process. Implementing a hiring solution is easier than most recruiters realize, and greatly frees up a hiring manager’s time.
Technology-based hiring platforms also allow hiring managers to take a step back and focus on the important aspects of hiring. With more time, interviewers and hiring managers can dedicate themselves to a thorough interview process, fully analyzing candidates’ credentials as well as their personality traits. As hiring managers change their process, they’ll begin to recognize more indicators of how a candidate could fit into their workplace.
According to Forbes, $72 billion is spent annually on hiring in the U.S. Companies must find ways to streamline and improve their hiring processes. If companies allowed technology to manage the process and fully analyze each candidate, they could significantly cut these costs. It’s time for companies to stop wasting their time and dollars on a hiring process that doesn’t work, and implement a data-driven hiring solution, which will ensure them their next hire really will be a successful one.