Jobvite recently published their 2017 Recruiting Funnel Benchmark Report, an analysis of data from over 50,000 posted job listings, 15 million job applications, and 69 million job seekers.
Phew! That’s a lot of data.
Having an accurate grasp of your recruiting metrics is important for optimizing your processes and showing the business value of your recruiting activities.
An important aspect of assessing metrics is knowing where you stand compared to industry benchmarks.
Here are the stats from Jobvite’s 18-page report I thought were the most insightful. How does your recruiting process compare?
Applicants per open req
The number of applicants per open req is going to vary greatly depending on the size of your organization, the industry, and the role. Continue reading
The definition of an HR screening tool is changing these days.
Back in 2000, SHRM listed the #1 screening tool as employment verification. In 2015, the top HR screening tool was the ATS.
In the last 2 to 3 years? A lot has changed.
Some have argued AI is the new electricity:
“About 100 years ago, electricity transformed every major industry. AI has advanced to the point where it has the power to transform every major sector in coming years.”
-Andrew Ng, founder of the Google Brain Deep Learning Project
Looking at the financial history of AI, there was $5B in funding in 658 companies in 2016. Continue reading
Jobvite recently published a survey on how recruiters feel about AI and automation in talent acquisition.
In recruiting, artificial intelligence is being used to streamline or automate some part of the workflow, especially repetitive, high-volume, administrative tasks.
Contrary to popular belief, the talent acquisition field seems to be embracing AI and is optimistic about its potential to improve their jobs.
Half of recruiters (49%) feel positive about the effects of AI and automation on their jobs while 42% are indifferent, and only 7% believed AI will have a negative effect.
How AI and automation are being used in talent acquisition
AI is currently being used in five main domains in recruiting:
1. Continue reading
Name the first country that comes into your head. I bet there’s a unique employment law there.
In the U.S., it can be quite the challenge understanding all the laws and regulations governing compliance and adverse impact in recruiting at the federal, state, and city levels.
It’s likely not any easier in countries around the world.
To highlight some of the strangest employment laws around the world, I put together this helpful infographic by Legacy Citizenship.
In America—one of the most developed countries in the world—employees can find themselves restricted to their desk the entire day. They can’t even take bathroom breaks when they want! Continue reading
The HR tech market, including candidate sourcing software, is estimated to be $14 billion globally – and rising.
The rise of artificial intelligence, while not fully at scale, seems to be the next major turning point in the HR tech marketplace.
While there are now hundreds of different vendors offering slightly different solutions, what really needs to be addressed are some core pain points on the talent acquisition side.
The core pain point of recruiters
“Sourcing qualified candidates” comes in as the #1 stressor for recruiters in almost every survey.
This is only logical: good sourcing takes a lot of time, especially manual searches using Boolean strings and LinkedIn, and good sourcing never stops. Continue reading
Recently, I got the chance to appear on CGTN America for a live panel discussion on how AI is changing the global recruiting industry.
My co-panelist was Steve Parker, Director of Global Technology for Allegis Global Solutions, a recognized expert on AI in recruiting.
Together we discussed:
the intersection of AI and recruiting and how AI is changing HR
the financial impact of AI (hint: it’s in the trillions of dollars)
the benefits customers of AI are seeing (e.g., hundreds of hours saved screening resumes)
how companies like Ideal are addressing and correcting for bias in their AI and machine learning models
Optimize Your Hiring Using AI Continue reading
Ideal integrates with iCIMS Talent Acquisition Suite
TORONTO, October 31, 2017 – Ideal, an artificial intelligence (AI) for recruiting company, today announced a partnership with iCIMS, Inc., a leading provider of cloud-based talent acquisition solutions.
Ideal’s AI-powered Intelligent Virtual Assistant now offers a simple integration into the iCIMS Talent Platform, a suite of talent acquisition tools that enables organizations to source, screen, and employ the best talent for their ever-changing business needs. The partnership offers a seamless transfer of screened and shortlisted candidates from Ideal, into the iCIMS Talent Platform, where recruiters can manage the hiring process from start to finish, all within a single platform to power better data analytics. Continue reading
The logical way to think of hiring software is considering what product is going to best solve the pain points that your recruiting team has.
Unfortunately, a product-focused culture that mostly considers features and potential for customizations can miss the big picture.
It can create a sales-driven culture where sales reps click through demo bullet points. When you hear 5-10 of these presentations, you can get confused.
But what are some different approaches to picking the right hiring software?
Here are 3 considerations that would benefit you to keep in mind.
1. The hiring manager adoption rate
This is crucial for two reasons:
The actual hiring cycle process
If your company is investing in technology, metrics are going to be important. Continue reading
How do you know when an employee is a great fit? According to Entrepreneur, some 75% of employers have admitted to hiring the wrong employees. This type of mistake can cost thousands of dollars per hire.
As an HR professional or hiring manager, you may be wondering: how can I prevent it?
One of the biggest mistakes employers make when hiring is not collecting enough data in the first place. One CareerBuilder survey found at least 25% of employers skip background checks when hiring, one factor which could be behind poor hiring decisions.
How does pre-employment screening help you improve your hiring? Continue reading
According to a recent SHRM/Mercer survey, only 20% of recruiters said they were confident in their employers’ ability to assess applicants.
This lack of confidence in traditional screening methods has given rise to some recent headline-grabbing innovations.
Here are three applicant screening tools that are getting a lot of attention right now.
1. Facebook’s resume posting feature
Facebook’s foray into applicant screening means LinkedIn is no longer the only game in town.
According to Jobvite’s annual recruiting survey, 67% of candidates use Facebook as a resource during their job search. Facebook is the second most popular social network for recruiters to screen candidates after LinkedIn. Continue reading