The ghosts of bad hiring decisions can spoil the entire Halloween mood. This year, make predictive hiring your Halloween costume and hire talent based on insights!
If any other day you see people jumping out of tombstones with blood dripping down their faces, it would definitely scare everyone else to death. But on a Halloween night, it is expected and more often than not predicted. A lot of Halloween costumes revolve around the idea of resurrection, zombie apocalypse, corpse avatars, reanimation, and undead beings. Dracula, zombies, vampires, phoenixes, and reincarnated characters are pretty popular around this time of the year. It’s almost like these Halloween characters have actually come back from the dead and are here to live better.
Well, the pandemic has been like an unwanted, uninvited, apocalypse where everything is a chaos and people are worried for their lives. Several businesses succumbed to the economic conditions caused by the pandemic, while several others are still fighting to not hit rock bottom.
Things are stabilizing a little and businesses are trying to resurrect from the COVID-19 created downfall, and what better time than Halloween?
Jobs were impacted the most with the onset of the coronavirus and efficient hiring processes have gone for a toss, almost dead. Times like these enlighten the industry on the aspects that have become outdated and pinpoints all the arenas that need to be casted a spell on by the advancements of HRtech.
Why are legacy hiring techniques and procedures dead?
It’s simple, times are tough, money is tight, we are all on a clock, and there’s no room for error. The traditional hiring systems would merely sort resumes for a particular job. But, today, we do not need voluminous sets of resumes, instead, we need apt CVs that are culturally and skill-wise a perfect match for the given job. On the basis of resumes and face-to-face interviews, only guesswork and assumptions are possible. Which brings us to the cost factor – bad hires can cost $240,000 in expenses, reports the Undercover Recruiter. Those are broken down into costs related to hiring, pay and retention. And keeping the current economic climate, it’s definitely not a good idea to make decisions based on guesswork. All this signifies the death of traditional hiring techniques.
But, we can’t just let the hiring processes die. So, what do we do? We can try reconstruction by Cryonics, where we freeze the corpse with the speculative hope to resurrect it in the future. Or, we can go with the better option of putting a predictive hiring solution in place.
How can predictive hiring resurrect the dead hiring procedures?
Predictive hiring is the proactive approach to the hiring functionalities without having to look at a crystal ball.
To begin with, let us first look at what does predictive hiring mean –
Talent Acquisition is the first and one of the most integral stages of the HR management cycle of a company. That makes it extremely for the HR teams to hire the right candidate for the said job. But, human analysis can often fail and prove to be wrong. That is why, technology makes it simpler to analyze the traits and skills of an employee based on historic data and assessment data sets. Predictive hiring technology uses highly intellectual algorithms to mine the data and perform statistical functions to come up with predictions that are extremely accurate.
Coming to the part where we talk about bringing the hiring techniques back from the dead, predictive analytics is highly dependent on big data and rich data sets.
The more data you input, the better results you will receive. But, keep in mind that the data that you are inputting is relevant and not out of the context.
For example, you want to predict the performance of a new hire in the Finance Department, so you cannot input the A/B analysis of a marketing strategy as a data source.
Halloween 2020 is so awaited because everybody is hoping that it will be the revival pill from all the mishaps of the entire year. More than the spooky monsters people are looking forward to sharing Halloween candies and munching on Halloween food.
When it comes to hiring, more than the data inputs, HR teams look forward to savoring the flavors such as an increase in the quality of the talent pool attracted and enhancing the quality of the talent acquired.
The technology tends not to make decisions based on bias with regards to culture, communication, or emotion.It analyses rows and rows of data sets to develop an understanding of the behavioral patterns and activities to understand what is channel that is attracting the best quality talent pool, what postings work the most, what are their expectations from the vacancy and the company, and many such things that are necessary to build a robust talent pipeline.
Predictive Analytics also works on these rich data sets and algorithms to learn and analyze whether or not the attracted talent pool displays the existence of the desired skills and traits. With such insights and reports, the HR managers can easily and rapidly come to a decision about the hiring of a said candidate without wasting a ton of time debating and contemplating over scenarios of ifs and whats.
Diverse but relevant data sets combined with a predictive hiring solution will be your key to resurrection or at least reincarnation. This Halloween, ensure that you hire the best talent intelligently without wasting a ton of time and resources. If not, not only will the results of your hiring activities be as good as dead, but their ghost will also haunt the success of your firm for a long time!
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ABOUT THE AUTHOR
Tanvi Tirthani is a content writer and strategist with a special foray into technology. She has been a keen researcher in the tech domain and is responsible for strategizing the social media scripts to optimise the collateral creation process.