RECRUITING RIGHT MILLENNIAL TALENT WITH AI – GOING BEYOND AUTOMATION
According to a latest 2018 survey, 52% TA leaders feel that screening from a large set of applicant pool is the most cumbersome task. Many Artificial Intelligence start-ups are addressing this pain point in the market by automating the screening process. This primarily works on matching the keywords and skill set of the candidates. However, this is not a fool proof mechanism and even after a rigorous screening, finding the right fit candidate is a challenging task for recruiters as well as hiring managers. Many organizations use various skills assessment tests along with psychometric tests as one of the key hiring tool. Even after undertaking such measures, most managers agree that as new types of jobs emerge in the information era, mere skills assessment is not enough measure to hire someone. A skills match is not necessarily a MindMatch for a job. Current AI recruitment platforms cannot do a MindMatch between candidate aptitude, their skills and their integration ability to the company culture.
Disastrous Cost of a Bad Hire
There are several instances where candidate has not been found to be a right match for the job requirement even if he/she possessed the right certifications, education credentials and the skills. Everyone knows the cost of such a disastrous bad hire. Organizations lose time, effort to skill and cost of training due to bad hire. From an employee perspective, not liking their job and being a cultural misfit results in increased absenteeism, loss of motivation, and a poor morale and bad performance at the workplace. This manifests as anxiety and other diseases due to high stress levels. Many companies are resorting to various other tools like psychometric tests to find out more about personality traits as a predictor of their organizational success.
Limitations of the Psychometric Tests
Psychometric tests are limited in their scope of predicting the candidate success rate based of certain personality traits. There are over a dozen tests today used by hundreds or organizations worldwide as a part of their selection process. This practice has yield limited success in determining candidate performance at the job level.
- This is due to the fact that there in not one single complete psychometric test which is applicable for job all types.
- These tests calibrate candidates on limited parameters which might not be in line with the job requirements.
- Current tests results are based on small sample sizes and do not account for cultural and language biases
- Scope of interpretation is limited- for ex one test may label a candidate as an introvert based on some parameters or answers, while candidate might actually demonstrate qualities of both an introvert as well as extrovert in response to familiar or unfamiliar situations.
MindMatch to Rescue
SCIKEY uses advanced AI MindMatch engine to find out the hidden qualities of a candidate and gives the best mind-set match for the job. This helps the organizations not just to find the right candidate best matched to job role requirements but also helps them to determine engagement factors which improves the employee engagement quotient of the company and happiness quotient of the individual.
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A Strategist, technologist and serial entrepreneur and an IIT Roorkee Alumni, Akshay bags immense knowledge in the technical and marketing field. Co-founder of SCIKEY, a 21st century hiring experience platform.