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Predictive technology to cut time to fill jobs

July 10, 2019

Predictive technology to cut time to fill jobs

Quickly fill openings with quality hires

So many applicants, so little time to make the right decision to identify and hire the best candidates in a timely manner; and avoid the negative impact to achieve business revenue goals.

According to the Department of Labor the total job openings exceeded workers classified as unemployed by 1.63 million. Also, a recent Robert Half Survey found nearly six in 10 job seekers have received two or more offers simultaneously when applying for jobs and most candidates make a decision in less than 2 days. This does not leave much time for recruiters and hiring managers to wade through a long list of applicants to ensure they select the right candidate for a specific role or position. Not only do companies need to hire quickly to keep candidates from going elsewhere, but open positions often result in an inability to conduct business at optimal levels.

Time to fill a job opening, a key KPI in acquiring talent, measures the speed it takes to complete the entire hiring cycle and ends when an applicant accepts a job offer. A first crucial step is the time it takes to make that first connection with ‘vetted’ candidates. Because time is of the essence, organizations need more than traditional application talent system (ATS) selection processes and decision-making tools to seize best fit talent to keep up with today’s demands and remain competitive.

A proven approach to best fit candidates

Employers need an integrated ATS and pre-employment assessment capabilities with built-in people data analytics and customizable predictive talent models that provide deep insight to evaluate the right applicants and produce a ‘short list’ of quality matched candidates with precision and speed.

Predictive assessment analytics that take into account an applicant’s behavior, preferences, and competencies tied to skills and experience can decrease the filtering activities associated with time to fill a position. Hiring managers can now make the most of the ‘window of opportunity’ to secure right fit candidates to advance through the talent acquisition phase; and be more confident in building pools with employees who have the potential to perform well and stay longer.

To quickly filter job applicants and shorten the time to communicate with quality candidates, pre-employment assessments can help hiring managers compare resumes, assess multiple roles, in multiple geographies, within industry based on objective and measurable criteria tied to an organization’s KPIs—used to make agile and informed data-driven talent decisions.

Achieve KPIs with talent science

According to an APQC article on how to measure ‘Time to Fill A Job Opening’, the length of the hiring process has long-lasting negative effects. “Equally detrimental is the burden that unfilled positions place on existing employees. Increased workloads are a drag on their productivity as well as engagement.”

Once a job requisition is approved, utilizing a science-based, data-driven pre-employment assessment that can reduce the daily grind of sorting through a large volume of applicants, can cut the cycle time it takes to identify and contact the right talent from weeks to days.

This approach can not only help improve recruiting processes and reduce the cost related to acquiring new talent, but it can help decrease the turnover rate; and build strong talent teams that reflect the organization’s brand to support business initiatives and objectives. The more insight gathered about a potential employee, the better we can expedite the selection process and narrow the hunt for top talent. At the same time, we can give recruiters and hiring managers a competitive edge to successfully close skills gaps tied to specific and measurable KPIs.

Jill Strange is the Vice President of Science Applications at Infor.

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