Finding the “right talent” is the goal for any staffing company. As hiring volume increases drastically, finding the right candidate in a limited time frame and budget is the biggest challenge recruiting teams face. Bad hires can be costly and AI driven voice assistants can reduce this risk while assisting recruiters in achieving their goals saving hiring cost and time.
Voice Assistants Transform and Streamline Recruiting
According to the U.S. Bureau of Labor report as of February 2020, employee turnover is 5.7 million (2.3 percent is the employee quits rate) and job openings are estimated to be 6.4 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 the lack of recruiting time to meet these demands.
To serve these needs, companies are spending millions on the hiring process with automation tools, advertisements, social channels, and job portals to get results with less human resources. Despite having all the automation tools, incompatible hires are affecting recruiters and companies negatively.
Enterprise voice assistant have the ability to streamline the communication process and provide compelling use cases to improve the recruitment process while reducing the time-to-hire and cost-to-hire.
1. Provide Great Candidate Experiences
Experience matters! In a rush to fill positions recruiters often fail to gather 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.
Enterprise voice assistants with AI abilities evaluate the candidate profile (by studying social and professional profiles) and interactions to create a candidate persona. Based on this, voice assistants generate tailored interactions with the candidate, offer 24/7 support to the candidate (either to track the application status or provide any company/employer information), and guide the candidate through the recruitment process.
Voice chatbots generate enhanced candidate experiences and improved 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
Based on the job description and profile, voice assistants use machine learning and deep learning capabilities to search across various job portals or internal resume databases. They study various candidate profiles, get relevant job requirements and schedule interviews.
Some recruiting agencies are training voice assistants to handle pre-screening interviews via phone or Skype. These pre-screened recordings with reports are auto generated by voice assistants and then given to a human interviewer to take further action.
Voice assistants reduce human efforts in laborious tasks and focus more on higher tasks of recruiting. One enterprise chatbot can be used to source, screen and schedule interviews of any number of candidates, reducing the number of incompatible hires, time-to-hire, and cost-to-hire.
3. Reduce Hiring Costs
Roughly 60 percent of a candidate's annual salary is what it costs to replace an employee. A bad hire is mainly due to a lack of understanding the job requirements. Even research by Harvard confirms this by stating that 80% of employee turnover is a result of bad hiring/recruiting decisions.
Voice enabled chatbots use candidate personas to understand candidate's skills to generate better engagement, thereby avoiding bad-hire costs.
4. Rediscover Gems in Candidate Pool
Recruiters often fail to make use of available resources for instance, not maintaining the database of candidates resumes, not making using of huge social profile contacts base, and not reviewing the list of existing candidates looking for a career shift.
AI-powered voice assistants build a pool of talent from all sources whether external or internal. This helps recruiters start recruiting with a robust pool of qualified candidates. This not only saves on employee turnover costs, but boosts motivation (disengaged employees cost the U.S. an estimated $450 billion to $550 billion annually), decreases time-to-hire, avoids futile on-boarding effort.