The Status Quo
HR Tech – It’s no secret that the recruitment industry is undergoing massive shifts in perspective. They were long due, but the current global situation seems to have precipitated a change in view that would have happened over the course of some years and condensed it into one.
More and more, the recruitment industry realizes that the right to a job that helps you grow as a professional is a fundamental right, and not a corporate perk.
However, we are aware that perspective always comes easier from the outside, and that the current processes of the corporate environment will take years of tweaking to cater more for the human resource.
At Jobful, we are equally devoted to addressing both the ’human’ part and the ’resource’ part through tools that amplify human potential and maximize opportunities through quality talent management that starts with the top of the recruitment process. Enter HR tech.
However much it will take, it is only a matter of time until a quality pre-screening experience will be the standard of the hiring process and not just a competitive advantage.
While we wish to see healthy and fully optimized recruitment processes implemented globally, plenty of companies are yet to take the extra mile to cater for their talent’s needs.
The Business Opportunity
We wouldn’t be here pitching our product weren’t for the two distinct business critical issues that HR tech solves:
The first one is rather intuitive – quality of recruitment output means quality of business.
And this is just simply a math problem, really, where HR tech can help you achieve more. If you top-of-funnel has 20 people in the screening process and selects 10 for a technical assessment, chances are that during the final stages of the interviews you can realize that the two people you’ve kept aren’t a cultural fit, or that they can’t seem to have a good grasp on soft skills.
However, imagine a system that filters through the essential technical and non-technical skills, on a ratio that you have complete control over. The candidates have a positive experience completing challenges and graduating upskilling academies, and you get a comprehensive profile that’s accurate and matches all of your criteria. This does wonders for the HR department as well, allowing it to focus on the quality of the workplace after recruitment, when the real work begins.
In highly competitive industries, the quality of hire plays a pivotal role in determining business revenue and overall success. The caliber of talent you attract, recruit, and retain directly impacts the efficiency, productivity, and innovation within your organization. Here’s a closer look at how quality of hire influences business revenue in competitive industries.
Enhanced Performance and Productivity
Top-quality hires possess the skills, expertise, and drive to excel in their roles. They bring a level of competence and efficiency that elevates overall performance within the organization. When employees consistently deliver high-quality work, it leads to improved productivity and output. A team of talented individuals who consistently meet or exceed targets generates higher revenue, giving the company a competitive edge. HR tech makes all of this happen.
Innovation and Competitive Advantage
In competitive industries, innovation is the key to staying ahead. Quality hires often bring fresh perspectives, diverse experiences, and creative problem-solving abilities to the table.
Their innovative thinking can drive the development of new products, services, and strategies that set your company apart from the competition. By hiring top talent, you gain a competitive advantage that translates into increased revenue through market differentiation and customer satisfaction.
Customer Satisfaction and Retention
Quality hires are not only skilled in their respective domains but also possess excellent interpersonal skills. They understand the importance of customer satisfaction and are committed to delivering exceptional experiences.
When your employees consistently provide superior service, meet customer expectations, and build strong relationships, it fosters customer loyalty and retention. Satisfied customers not only generate repeat business but also act as brand ambassadors, attracting new customers and driving revenue growth.
Reduced Turnover and Hiring Costs
High employee turnover can be detrimental to business revenue. It not only disrupts productivity but also incurs substantial costs associated with recruitment, onboarding, and training. By focusing on quality of hire, you increase the likelihood of selecting candidates who are not only qualified but also fit well within the organizational culture, and HR tech is your friend in the process.
This alignment reduces turnover rates and minimizes the need for frequent rehiring and retraining. Consequently, your organization saves on recruitment costs, retains valuable knowledge within the company, and maintains business continuity, leading to increased revenue.
Employer Brand and Talent Attraction
In competitive industries, attracting top talent is a constant challenge. However, when you consistently prioritize quality of hire, you build a strong employer brand that becomes attractive to high-caliber candidates.
A positive reputation as an employer of choice entices talented individuals to seek employment within your organization. This allows you to select from a pool of exceptional candidates, further raising the quality of your workforce and driving revenue growth through their contributions.
The second one is that, while it is our hope to democratize human potential, a qualitative experience in the recruitment process is a key differentiator in most of the industries.
It is a competitive advantage that you can tap into before it is incorporated in the standard practice.
Until the standardization of real care across industries happens widely, being an early adopter is a statement of care. Choosing a way to infuse your recruitment process with a technical layer that helps people become more than the CVs they complete means catering the very basic set of human needs that makes a company a healthy workplace.
Many professionals postpone changing jobs, even when they feel they can do better, and even those who have seniority, because of the amount of stress that goes into switching to another workplace.
Part of this associated stress has to do with the way people are treated like mere numbers during the pre-screening process, where everything is impersonal and void of any mindfulness. Most often, at the other side of the screen, highly talented professionals are demotivated and feel unvalued.
The Bottom Line
Because we’re impressed both with the colossal difference that motivated quality professionals can make for a business and with the amount of drop-off rates that are associated with the recruitment process, we decided to host a webinar.
After facilitating better work for thousands of people through an AI-driven matching system and a challenging platform experience, we now want to help businesses integrate our solution directly into their career website.
Let us show you the difference that lower drop-off rates and more quality applicants can make for your business.
Drop us a line and we’ll show you how to leverage recruitment into generating more revenue and a better work environment at the same time.
