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Machines Make Better Hiring Decisions than Humans

Predictive analytics – the process of using advanced statistical techniques from modeling and machine learning to analyze past events and behavior in an effort to predict the future – is one of the disruptive business innovations today. Myriad companies make liberal use of predictive analytics to make decisions about what products to buy and sell, where to make investments, which components are likely to fail – and when – in complex machines and, recently which applicants to hire.

Bloomberg Business recently published result of a comprehensive study by the National Bureau of Economic Research (NBER). It surveyed over 300,000 hires across 15 companies and discovered that predictive algorithms made better hiring decisions... Read more »

Use Talent Analytics to Guide Employee Selection

We’ve all heard that age-old saw. The lesson is pretty straightforward: don’t always take things at face-value; take the time to find the deeper significance. That is never more true than when it comes to hiring an applicant who is expected to make a significant business impact. And it is ESPECIALLY true in the high-volume hiring environment of most customer-facing operations.

For the most part hiring happens fast and furious, especially this time of year, and it’s easy – and understandable – to give most candidates only a cursory look before making the offer. After all, you have seats to fill, right? A quick glace at a resume – this candidate has experience? Check! Maybe a brief face-to-face interview – the candidate looks... Read more »

Why Doesn’t Recruiting Care about Quality of Hire?

Recruiting doesn’t care about quality of hire. There. I said it. And before everyone in the recruiting industry descends on me with pitchforks in hand and torches alight, let me explain how I came to this conclusion.

During some recent research on key recruiting metrics I found a dozen or more authoritative sources, each of which offered their view of the 7 or 10 key metrics that every recruiting team should adopt. There was significant overlap between them: cost-to-hire, time-to-fill, applicant:hire ratio, applicant-by-source, offer:acceptance ratio were very common.

But, conspicuous by its absence, was the one that most stakeholders would agree is at least equally important: quality of hire. In the rare instances when... Read more »

Improving Screening and Interviewing for High-Volume Hiring

It's a familiar refrain: there's a lack of well qualified candidates to choose from and therefore, it's harder to fill classes. Many companies cite the low unemployment rate as the reason. But is perceived lack of qualified candidates directly attributable to the low unemployment rate, or is the screening process itself partly to blame?

But based on our own observations of HireIQ customer prescreening and virtual interviewing processes – and current industry trends – we have to ask: Could the companies’ problem actually come from bottlenecks in the hiring process, instead of shortages in the labor market? And could recruiters better fill their pipelines if they expanded their sources of candidates? A look at industry hiring... Read more »

Sourcing Woes? Look at Streamlining your Screening Process

As the unemployment rate continues to fall, some recruiting teams may find it a bit tougher to source high quality candidates. But is candidate sourcing entirely to blame? Maybe, but probably not. Sourcing may be part of the problem, but it’s likely that your recruiting team’s screening strategy needs to take advantage of current technology and other changes in today’s labor market.

Many aspects affect sourcing, but there are three major screening factors that can choke a torrent of applicants to a mere trickle. Under time pressure, your recruiters make the best of the situation, but you’re often left with underperforming, turnover-prone employees.

These factors, taken one at a time, can have a significant impact on... Read more »

Assessments are Dead! Long Live Assessments!

Many companies rely on one or more behavioral, cognitive, personality, intelligence and hard skills assessments in order to predict potential job fit, improve performance, and reduce turnover. Most of these are deeply rooted in 1950s-era organizational psychology that has changed little in the ensuing 60-plus years which renders them less effective in today’s employment climate. Furthermore, many of these assessments were designed with a highly collaborative work environment in mind – one where workers are largely dependent on each other to perform effectively and deliver results. However, some jobs, like many of those in customer service, are more reliant on the ability of an employee to interact well with people outside the... Read more »