Finding the “right talent” is the key competitive edge to any business. With hiring volume increasing drastically, finding the right candidate in the limited time frame and budget is the biggest challenge recruiting/hiring teams face. Bad hires can be costly and AI driven voice assistants can reduce these while assisting recruiters in achieving their goals saving hiring cost and time.
Voice Assistants Transform and Streamline Recruiting
As per the U.S. Bureau of Labor report as on March-2018, employee turnover is 5.4 million (3.2 percent is the employee quits rate) and job openings are estimated to be 6.6 million. This clearly predicts the trend of employees looking for new careers resulting in high job transitions, thereby resulting in increase of hiring volume. The problem here is lack of recruiters’ time to recruit to meet the demands.
To serve these needs companies are spending millions in the hiring process with automation tools, advertisements, social channels, and job portals to get effective recruiting results with less human resources. Despite having all the automation tools incompatible hires are affecting recruiters and companies negatively. This is due to the lack of quality approaches to make utilize resources in the given hiring time frame.
The enterprise voice assistant’s ability to streamline the communication process has compelling use cases to offer and smarten the recruitment process while enforcing complete reduce the time-to-hire and cost-to-hire costs.
1. Great Candidate-Experiences
Experience matters! One size fits all is no longer valid. In a rush to fill the positions recruiters often fail to gather all the pertinent information about the candidate. This may result in losing the right candidate and generates negative branding for the company due to poor candidate experiences. It is observed that employer branding is one of the key factor candidates look at when choosing a job profile.
The enterprise voice assistants with AI abilities evaluate the candidate profile (by studying social and professional profiles) and interactions to create the candidate persona. Based on this, voice assistants generate tailored interactions with the candidate, offers 24/7 support to the candidate (either to track the application status or provide any company/employer information), and guides the candidate through the recruitment process.
This way voice chatbots generates increased candidate experiences and increased candidate-employer relations. Also, the same information can be used to nurture candidates by sharing knowledge articles and future positions.
2. Source Resumes and Schedule Interviews: Smartly and Effortlessly
Based on the job description and profile, voice assistant with machine learning and deep learning capabilities, can conduct, and search across various job portals or internal resume databases. They study the various candidate profiles, get the relevant job profiles, and schedule interviews.
Also, some recruiting agencies are training voice assistants to take pre-screening interviews (including technical) via telephone or Skype. These pre-screening recordings with analytics reports are auto generated by voice assistants and then are given to the human interviewer to take further action.
Voice assistants can reduce human efforts in laborious tasks and focus more on higher tasks of recruiting. Using this method transparency can be ensured in the complete recruiting and hiring process. The beauty is one enterprise voice chatbot application can be used to source, screen and schedule interviews of any number of candidates. Finally, reducing the incompatible hires, time-to-hire, and cost-hire.
3. Get Away From Bad Hiring Costs
Bad hiring costs companies very heavily. It is believed that 60 percent of the annual salary of the candidate is what costs companies to replace an employee. Bad-hire is mainly due to lack of understanding of the job profile. It is observed that 61% hiring managers believe the wrong hire is due to lack of recruiters understanding of the jobs they recruit. Even research by Harvard confirms this by stating that 80% of employee turnover is a result of bad hiring/recruiting decisions.
These Voice enabled chatbots use candidate personas understand better the candidate's interests and skills to generate better engagement, thereby avoiding the bad-hire costs.
4. Internal Talent Pool: Rediscovering Hidden Gems
Often, recruiters fail to make use of the available resources intelligently, for instance, not maintaining the database of resumes of candidates (not selected), not making using of huge social profile contacts base, and not detecting the list of internal employees looking for a career shift.
AI-powered voice assistants, or voice chatbots, build a pool of talent that is internal to the external organization. This helps recruiters to not start the process from scratch to fill the job positions. To develop internal talent these digital assistants run predictive analytics in a timely fashion to spot the employee's career interests. This not only saves employee turnover costs, but boosts the employee motivation (disengaged employees cost the U.S. an estimated $450 billion to $550 billion annually), decreases time-to-hire, avoids on-boarding and additional costs.