In the highly competitive job market, attracting and hiring top talent requires a refined and efficient recruitment process. As CHROs and recruitment agency owners strive to optimize their hiring strategies, understanding the operational complexities involved and their impact on costs is important. And while various video hiring technologies have emerged, HR practioners are still finding it difficult to bridge organisational needs, budgets, and candidate requirements.
As operational complexities grow, organizations find it more challenging to streamline their recruitment processes, leading to a rise in hiring costs. By leveraging advanced technologies such as AI, companies can optimize their recruitment processes, reduce time-to-hire and lower costs associated with filling vacant positions.
The time taken to fill an empty position varies by industry and geography, but it still is one of the biggest concerns for most organizations. According to a study by the Society for Human Resource Management (SHRM), the average time to fill a vacant position in the United States is 42 days. In India, a study by the recruitment agency Michael Page found that it takes an average of 48 days to fill a position. This lengthy hiring process not only impacts productivity but also increases the overall cost of hiring.
In this blog post, we will examine the traditional hiring steps, discuss how EnableX Hire can enhance various parameters of the recruitment process and demonstrate how CHROs and recruitment agencies can benefit from its streamlined approach.
The problems with current hiring processes
Email and phone-based hiring processes can be both time-consuming and costly for businesses. The hiring team has to dedicate a significant amount of time to go through each email or phone conversation, read through resumes, and conduct interviews. These processes require a considerable investment of time and resources, which can result in increased costs for the company. Moreover, the process of communicating back and forth through email or phone can take a while, leading to delays in the hiring process.
Another issue with email and phone-based hiring is the subjectivity that can arise in the process. The lack of face-to-face interaction and physical cues makes it challenging to gauge a candidate’s personality, work ethic, and overall fit for the role. Phone conversations and emails can also be easily misinterpreted, leading to misunderstandings and miscommunications. This can result in hiring managers missing out on potentially qualified candidates or hiring individuals who do not align with the company’s culture or values. The subjective nature of email and phone-based hiring can lead to higher turnover rates and reduced job satisfaction among new hires.
On the other hand, while online hiring processes have become increasingly popular in recent years, there are still some potential issues that can arise:
- Lack of personal interaction in fully online hiring processes
- Difficulty in establishing rapport and assessing candidates’ soft skills
- Potential technical issues impacting smooth interviews (e.g., poor internet connection)
- Candidates struggling to gauge company culture, team dynamics, and work environment
- Risk of reduced workforce diversity due to technology or internet access limitations
How EnableX Hire can help
EnableX Hire is an innovative hiring solution that combines the best of both offline and online hiring processes to address the issues that each process presents. With EnableX Hire, recruiters can conduct video interviews with candidates that help establish a personal connection and gauge their soft skills. The platform’s AI-powered screening technology, EmotionAI, enables recruiters to screen candidates efficiently and accurately, identifying the most suitable candidates for the role in a timely manner.
Additionally, the platform’s inbuilt collaboration and feedback features enable hiring teams to easily communicate and provide feedback on each candidate, leading to better decision-making and a more streamlined hiring process.
The AI-powered screening technology can also potentially help eliminate any biases in the hiring process, leading to a more diverse and inclusive workforce. Overall, EnableX Hire is a comprehensive solution that addresses the challenges presented by fully offline and fully online hiring processes, enabling recruiters to take better decisions in a timely and efficient manner.
Here is a primer on the differences between traditional approaches to hiring, and how EnableX Hire is advantageous:
|Traditional Approach||EnableX Hire Advantages|
Job Posting and Promotion
|Manual job postings on various job boards and social media platforms||Send out screening invites to bulk lists|
Applicant Screening and Shortlisting
|Manual review of resumes and applications||
AI-assisted screening and shortlisting, saving time and resources
|Initial Assessments and Interviews||Phone or in-person interviews, requiring scheduling and coordination||
Seamless video interviews and assessments, enhancing convenience
|Final Interviews and Decision Making||Time-consuming decision-making process involving multiple stakeholders||
Ability to consolidate feedback across multiple decision makers to finalise candidates.
EnableX Hire offers an innovative solution to address these challenges by leveraging advanced AI technology to streamline the recruitment processes. With EnableX Hire, organizations can reduce time-to-hire, optimize resource allocation, and lower costs associated with hiring, enhancing efficiency and productivity across the board.
Using video hiring software can often feel like replacing a more touch-and-feel experience, making hiring managers feel they cannot ‘judge’ the candidate. However, when the video interview is aided by AI based candidate selection criteria, the technology does more than solving for time, distance and cost issues for candidates and hiring managers.
Enhancing Recruitment Parameters with EnableX Hire
Time and Cost Efficiency
EnableX Hire allows replacing the time-consuming processes of first level resume filtering and screening calls with AI-assisted, short duration video interviews, which saves time and reduces costs associated with manual tasks, allowing CHROs and recruitment agencies to allocate resources more effectively.
Improved Candidate Experience
The streamlined and user-friendly interface of EnableX Hire ensures a positive candidate experience. Seamless video interviews and assessments eliminate the need for time-consuming scheduling and travel, making the process more convenient for both candidates and recruiters.
Data-Driven Decision Making
EnableX Hire’s AI-powered screening and analytics enable CHROs and recruitment agencies to make data-driven decisions, enhancing the overall quality of hires. By leveraging advanced algorithms, organizations can identify top talent more effectively and reduce the risk of biased decision-making.
Centralized Communication and Collaboration
The platform’s centralized communication features facilitate seamless collaboration among recruitment teams and hiring managers. This consolidation streamlines the decision-making process and ensures that all stakeholders remain informed and engaged throughout the hiring process.
Conclusion and Call-to-Action
EnableX Hire offers a comprehensive solution for CHROs and recruitment agencies, enabling them to enhance their recruitment processes and deliver better results. By adopting EnableX Hire, organizations can save time and resources, improve candidate experience, and make data-driven decisions, leading to higher quality hires.
Are you ready to transform your recruitment process? Schedule a demo with EnableX to discover how EnableX Hire can revolutionize your organization’s hiring strategy and deliver exceptional results.
- Society for Human Resource Management (SHRM). (2021). Average Time-to-Fill: 42 Days in April 2021
- The Economic Times. (2022). Hiring time takes a hit as companies face talent crunch