Better Hiring Practices, More Success: Talent Acquisition for Growth
Recruiting new hires can be a lengthy process involving hours of sifting through resumes, interviewing potential candidates and trying to find the best fit using minimal information. According to LinkedIn bad hiring decisions can cost 30% of the individual’s first year salary. With the right talent acquisition software companies can save time and money by finding the absolute best fit for open roles. Luckily there are new types of predictive hiring software that have revolutionised the way you acquire new talent.
Use Hiring Analytics to Make Better Choices
Bad hires can cost a company thousands of dollars in lost time and productivity, but 21 percent of businesses still say they don’t research the skills of potential employees before making recruitment decisions. With employment rates in New Zealand projected to increase at least through 2018, your company needs to be equipped to identify the right candidates.
An applicant tracking system provides a comprehensive look at the skills, talents and behaviours of potential hires. Hiring teams can use these assessments to tailor interviews based on candidate profiles and hone in on individuals with the right characteristics for every open position.
Embrace Predictive Hiring
A standard resume reveals very little about how a candidate performed in past jobs. You can read every word of a resume and still not know if a potential hire is the right fit for your company.
Recruitment software from Cornerstone allows you to see how candidates would behave in real-world work situations by providing simulations and asking pertinent behavioural questions. This type of software platform can also be used to identify top performers within the organisation, track their progress and see if internal hiring is a better choice to fill a position.
Eighty-six percent of best-in-class organisations are using some kind of assessment process to make smarter hiring decisions, cutting down on the loss associated with bad hires and high turnover rates. By following their example to pinpoint the traits of your best employees, you have a guide for analysing candidates for the exact skill sets necessary to support your company.
Make Recruitment Software Work for You
Predictive hiring tools are meant to simplify the recruitment process and improve candidate choices. Get the most out of your talent acquisition platform by:
- Sorting through candidates to match potential hires with the right positions and sift out unqualified applicants
- Integrating with onboarding and talent management within the organisation to prepare qualified candidates to perform well in their new jobs
- Pulling in data from educational and onboarding tools to highlight top performers
Nurture Talent with an Applicant Tracking System
Once you have the right recruits on board, set them up to succeed with a tailored onboarding program. Offering access to training before the first day of work allows new hires to get acclimated to their positions and perform better during the initial months on the job, thus eliminating costly training time and improving productivity.
As candidates grow within the company, continually assess their progress to see where they’re improving and where targeted training may be helpful. Foster engagement through ongoing feedback, and keep the lines of communication open to ensure employees understand their jobs. New hires are more likely to stay with a business if they feel comfortable and appreciated.
Instead of spending the average six seconds glancing over a resume, start using recruitment software to inform your hiring decisions. When you know exactly the skill sets a candidate needs to be a good fit, you can use Cornerstone Recruiting to identify and track qualified individuals. Having comprehensive hiring analytics at your fingertips streamlines the recruitment process and improves the chances of new hires remaining in their positions in the long term.