What we learned from 2020
One of the most effective ways to reduce costs is by automating tasks. If you’ve already started the automation process, you may have room to improve. A CareerBuilder survey found that even though half of the firms surveyed already use AI to find and screen potential hires, HR managers still lose about 14 hours per week to tasks that could be automated.
As a way to cut 2020 costs, many firms rushed to automate some or most recruitment processes. Before the pandemic, some of those same firms had lagged behind in automating recruitment processes. To survive and adapt, automation is essential.
Recruitment process automation saves time and cost
Moving into 2021, and hopefully the aftermath of the pandemic, companies will only continue to move towards candidate screening automation to save time and money as they look to acquire new talent.
As an example, look to Uniqlo. The company determined viable candidates per this case study, increased the interview show-up rate, and saved almost $40,000 in HR expenses per year. Automating the recruitment process saved the equivalent work of 219 days that it would have otherwise taken to go through the 10,000 applicants.
How do you automate recruitment processes in 2021?
Recruitment automation is vast and comes in many accessible forms. Interview chatbots, interview scheduling, and candidate screening, for example, can all be done without significant human involvement. This ensures that HR managers only spend time reviewing qualified candidates.
With GrabJobs, for example, it’s possible to sift through an entire applicant pool by setting a few parameters. If the applicant passes typical screening questions delivered by the interview chatbot, HR personnel are notified. Then, the applicant can schedule a final interview. Compare that to going through tons of CV submissions by hand, and you’ll quickly see how valuable recruitment process automation can be.
Some people caution that the recruitment process shouldn’t be entirely removed from human interaction. Otherwise, it may feel too clinical. However, on the flip side, refusing to adopt hiring automation processes may cause firms to lose candidates to tech-savvy competitors. It’s important to start moving towards recruitment process automation if you haven’t already.
To successfully implement recruitment process automation, you’ll need to accomplish the following:
- Determine how many stages /hours of your current recruitment process can be automated.
- Based on what you pay your HR staff, put a price on how much this costs your firm. You can use our Recruitment Cost Calculator to get a better idea of how much recruitment process automation may be able to save your firm.
- Look into the cost of the recruitment technology that you’ll need to automate the process.
The anticipated return on your investment should be more than enough to justify the transition. Completing the process as soon as possible is essential if you expect to compete for the best talent in 2021.