The rise of AI in recruitment brings both benefits and challenges.
The Problem:
- Candidates can inflate accomplishments and use multiple targeted keywords to trick HR software.
- Estimates suggest over 70% of resumes include misleading information.
- When candidates can’t perform the advertised tasks, they often turnover.
The Impact:
- Increased turnover when unqualified candidates are hired.
- Turnover costs can be 50-75% of an underperforming person’s annual salary or wage.
- Stress levels go up as team members pick up the duties of under-performing employees.
- Managers’ time is focused on fixing underperforming employee issues.
- Employees wonder why the problem took so long to resolve. Then, they start second guessing the manager on other issues.
Potential Solutions:
- Science-based assessments: These can provide an objective evaluation of a candidate’s skills and suitability for the role. Quality, 3rd party assessments with targeted interview questions will minimize costly errors. Goal: fit the job, the team, the manager and the culture. Save money by purchasing qualified assessments.
- Develop a Hiring Statement: A Hiring Statement is a short, positive, non-discriminating statement about the employee characteristics needed to fulfill your Mission Statement. It is both a benchmark and a constant reminder of the talent you need to succeed.
- Before any hiring decision, answer these five questions:
- Will this candidate add talent to the team?
- Will this candidate take ownership of the job?
- Will this candidate work well with the existing team?
- Will this candidate work well with my management style?
- If hired, what will I do to help this person learn, grow and succeed – quickly?
Overall:
AI can streamline recruiting, but it’s crucial to stay vigilant against misinformation. AI is coming to society at a breath-taking pace. This is a good time to review what we have done in the past and evaluate the needs for the future.