• Job interview process worldwide has grown 3.3-3.7 days longer in recent years.
• Time-to-hire varies widely by country, from 22.1 days in Canada to 31.9 days in France.
• The choice of screening methods can have "a positive and statistically significant effect on job interview durations."
- Glassdoor, 2015
The hiring process is typically a slow slog for recruiters. It is frequently a linear process with a number of dependencies built in. For recruiters and hiring managers alike, these dependencies can bog down the pace. In many industries, times-to-hire are measured in months and quarters instead of in days and weeks.
Using a Contextual Intelligence based platform or supplementing it with an ATS (Application Tracking System) accelerates the hiring process significantly and improves the quality of shortlisted candidates drastically. The technology has two unique capabilities which distinguish it from existing ATS and recruiting software.
1) Unstructured data comprehension
Given that HR data concerning recruiting such as resumes, job descriptions, application forms, videos, audio recordings, etc. is characteristically narrative in form and obtained from different sources such as job boards, career sites, social media; existing systems are unable to crack the depth and extent of skills, work experience and candidate intent in a measurable manner. In addition, narrative text is full of different meanings and the relationship between skills varies from resume to resume. Contextual technology deals with this complexity by deciphering the contextual meaning of words and their relationships. It comprehends data by breaking it down and quantifying the relationships between words the way a human mind works.
2) Contextual data analysis
Contextual technology interprets data (of any type) by measuring it up in different ways as analytics which give valuable insights hidden in the data. For example: richness of skills that candidates have in the form of comprehensive tag pyramids which rank skills proficiencies and various other parameters vis-à-vis job descriptions; and even vice versa! Another example: Candidate intent to join a job by way of engagement metrics. These analytics support decision makers with real-time evidence.
Let's take a closer look at the dependencies that slow the hiring process to a crawl and how contextual tools can eliminate the logjam.
In some organizations, to borrow a sports term, there's a ‘deep bench’ that reduces the risk of a key departure. If a high-level executive leaves, a successor is identified and ready to step in. Unfortunately, this is not the norm in most workplaces.
By using contextual tools together with robust talent development programs, companies can identify, track, measure and assess internal talent. When a vacancy occurs, the contextual solution can identify key skill sets already in place with talent, even if it is in a different part of the organization.
When a vacancy occurs, it's crucial that a hiring manager and recruiter work together to review, revise and refine the job description. However, often the creative and approval processes place those job descriptions on the back burner. Recruiters get slowed down from the start.
A contextual talent acquisition platform accelerates the process by using Contextual Search & Match; and measurements such as Richness Index. The Contextual Search is 95% accurate and bi-directional mapping i.e., resumes to job descriptions and vice versa is 80% accurate, resulting in the shortlisting of only relevant resumes.
In addition, a contextual hiring platform can process thousands of resumes in a matter of few hours and from multiple data sources simultaneously. It can search up to 1300 parameters at one go. All this reduces time-to-hire drastically and increases the interview-to-select ratio.
Contextual technology brings agility, accuracy, speed and intelligence to the mundane operational process of candidate screening and shortlisting.
In today's world, recruiters need to sell the idea of a potential job vacancy to suitable candidates, particularly in industries where demand outpaces supply. This can be arduous as it involves cold-calling, email blasts and reference networks. Imagine, however, if this work had been done well before a position was vacant? Contextual tools mine the entire world wide web, especially social media for potential candidates.
Companies get to create and maintain their own social ecosystem. The powerful and accurate Contextual Search locates, validates, attracts and engages with potential candidates in the system. As one might guess, candidates also learn about the brand, business outlook and values and might even get invited to company events. By forging and establishing relationships ahead of time, recruiters are a few steps ahead when a vacancy appears. It is quite likely that these candidates might get interested to apply when vacancies arise in the organization.
Interview scheduling is a process that needs coordination at multiple points. Candidates need to be vetted over multiple rounds of phone calls, scheduled to meet interviewers at particular days and time, often over video or virtual discussions.
A premeditated social talent ecosystem comes handy here. It already contains resumes of candidates searched, validated and engaged. Engagement with the refined pool of candidate cuts weeks of mundane recruiting activities. Candidates who are moved along in the process already have a deeper understanding of the company and job role in advance, leading to more success in closing open job positions.
For particular job positions, there are internal or regulatory requirements regarding hiring. Companies and governments want to ensure that processes were fair, that diverse pools of candidates were considered and that there was no bias involved at each step of the process. Following these steps is a tiresome chore.
With contextual analytics built-in, it becomes possible for recruiters and hiring managers to generate the trails and metrics of recruitment data and analytics which were referred to before making hiring decisions. These measurable metrics are evidences of compliance as well.
With a Contextual Intelligence talent acquisition platform, recruiters can accelerate the pace of the hiring cycle, break down dependencies and ensure that talented candidates are interviewed, hired and onboarded on time at lesser costs and with much less effort.