HR Industry Leaders Reveal Their Predictions For Attracting Top Talent
With the advent of modern HR solutions such as predictive hiring algorithms, the power, accuracy and overall usefulness of recruiting software is growing by leaps and bounds. Many believe we are at a tipping point where the entire role of recruiting will be forever changed as next generation software solutions gain mainstream adoption in the market.
To help inform our readers, the team at Ideal interviewed some of the top HR thought leaders from around the globe on their views and predictions for the future of recruiting software and, specifically, predictive hiring solutions.
Here are the most insightful opinions we gathered from HR leaders on the future of recruiting software and the rise of predictive hiring.
HR technology of the future will go beyond streamlining “how to hire” to assisting employers and hiring managers in determining “who to hire.” That being said, robots and analytics, alone, will not take over hiring. Hiring is still a gut decision – but our “gut” can be much better informed.
“Predictive hiring is not a fad – it’s the natural evolution of recruiting software’s role in helping educate us on who to hire.”
Talent analytics give companies an advantage as they search for the right candidate to fill a position because they go beyond traditional psychometric tests, which ask personality questions during the recruitment process to try to glean more about a candidate. Predictive analytics can help tailor candidate metrics and profile the ideal hire — what experience and skill set do they need? Which personality traits would gel best with the existing team? How much should they be expected to produce every week?
Data analytics will allow employers, HR and hiring managers to take a deeper look at how a candidate will fit with the team and company’s culture. It will help companies hire smarter and truly understand what it is they’re looking for – beyond experiences on a resume. It’ll dig deeper into true indicators of performance, and the types of skills and characteristics that create a top-performing employee to support the decision on who to hire and the gut instinct that good managers have for whether someone is the right fit for a job and their team.
Rick Devine (@TalentSkyInc), CEO of TalentSky Inc.
I don’t think predictive hiring solutions are a fad, but what they are predicting will need to evolve over time to emphasize and prioritize candidates’ relevant skills—independent of what roles and experiences they acquired those skills in. Technologies and recruiting software that can do this will level the playing field by eliminating an array of hiring biases and instead focusing on tangible and quantifiable qualifications. Determining whether candidates are a cultural fit will continue to be a more subjective process, however.
Recruiters, as a whole, will need to begin adopting a skills mindset (rather than one that emphasizes job titles and resumes), since roles and entire industries are changing so quickly with advances in technology.
It is becoming increasingly difficult for recruiters to judge whether a candidate is qualified for roles that have never before existed—or roles that have significantly evolved over time—based on roles they’ve held in the past. This is because, more and more, there’s a disconnect in the qualities that previously led to success and qualities that will lead to future success in each given role (even if it has the exact same title).
For roles that have never before existed, it’s easier to look at skills that lead to success in them than “job titles that might translate to the needs of this role.” The only reliable indicator of a candidate’s ability to do many of the new or evolving jobs (across industries, not just in technology) will be whether they have the specific skills that lead to success in it.
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The use of predictive hiring solutions is not new. Making sense about how individual differences (e.g., knowledge, skills, abilities, aptitudes) predict important outcomes on the job (e.g., performance, sales, turnover, absences, productivity, promotions) has been around since World War I. What is newer is the availability of big data – the volume, variety and velocity of data to make better informed business decisions. Big data is here to stay, for the better!
“What is more of a recruitment fad is that data jockeys are throwing in everything but the kitchen sink (hundreds if not thousands of variables) to predict an outcome with complete disregard to theory.”
As an extreme example, ‘I don’t know why people who drive Hondas are more productive on the job, but it predicts so let’s use it!’ This approach, however, runs the risk of using proxy variables that unintentionally discriminate against members of a protected class. The next wave of recruiting software will continue to leverage big data when making hiring decisions, but with an approach rooted in theory, scientific rigor, and the unwavering commitment to fairness.
Predictive hiring solutions are much more than a trend or fad. It has stamina in the hiring world because it gives employers and companies what they want most when they need to make hiring decisions — confidence. You can’t invest the time, money, and energy into recruiting candidates when your talent acquisition experts are uncertain. Why are predictive hiring solutions so effective?
“Predictive analytics technology processes high volumes of data consistently and without bias. The result is a repeatable hiring process that accurately identifies the best candidates and eliminates those who are unqualified or don’t fit the role or organization.”
The bottom line is you want to know for sure that you are finding the best fit for the role and for your culture. Without predictive metrics like quality of hire, it’s tough to trust that you’re finding the best candidates.
Quality of hire data gives employees and managers the opportunity to demonstrate how effectively they are sourcing and recruiting talent. Pre-hire quality is measured by data like conversion rates, job posting effectiveness, and candidates per hire. The other side of the coin is post-hire quality data, which consists of culture fit surveys, revenue per employee, and new hire performance reviews.
Evaluating quality of hire data gives us a measurement of the value of our new employees, what they bring to their position and how they contribute to our organizational goals. These predictive hiring solutions lead to a more refined, efficient hiring process that results in more valuable hires who become our A players.
Simply put — you can’t improve what you don’t measure. Since we started using recruiting software with predictive hiring solutions, we have adjusted various aspects of our hiring process — where we source, what types of candidates we target, how we post openings, and even how we manage the performance of our new hires. Overall, these adjustments have lead to drastic improvements in overall performance and have made a positive impact on our efforts in reaching our large scale organizational goals.
Predictive hiring solutions will become more of a necessity as employee turnover continue to plague the hiring world and as more organizations begin to fully understand the impact their recruiting efforts have on their mission.
Predictive hiring is here to stay
Well there you have it, great insights from four of the top thinkers in the HR tech space. We’d love to hear from our readers. What do you think the future holds for recruiting software?