If you are in or adjacent to hiring in business, you have most likely heard of the “Great Resignation”—an era of great exodus where the pandemic shifted the paradigm of what employment should look like in 2021. With a 20-year record-high of over four million people leaving their positions in the United States in July, hiring has become a complicated matter.
The current job market is extremely high-demand on both sides of the coin, with saturation in “help wanted” signs as well as applicants looking to fill roles—making for voluminous amounts of data to sift through, no matter which side of the fence you are on.
Unfortunately, this is only aggravated by the fact that more than half (52%) of hiring managers say their main challenge in the recruiting process is gaining access to candidates with the right skills. Tools and innovations in hiring are needed by both businesses and job seekers alike to navigate this tumultuous and inundated time.
By implementing state-of-the-art video recruiting software specifically designed to screen candidates, the company Interviewer.AI takes hiring software to another level—becoming a recruitment partner for businesses and helping to instantly match them with the top available applicants.
This is helping companies optimize the prerequisites of hiring and find peace of mind in the recruitment process again. Let’s take a look at the cutting-edge innovations that set Interviewer.AI apart from other recruitment software companies.
Using Data as a Decision-Making Tool
Insight-driven businesses are growing at an average of 30% each year; by 2021, they are predicted to take $1.8 trillion annually from their less-informed industry competitors. To successfully place employees, businesses need to lead with data in order to ascertain the highly valuable insight that is vital to recruitment.
Traditionally, resumes have been the only primary resource of information for businesses to determine if they want to proceed in inviting candidates in for an interview.
The Interviewer.AI platform provides new, more meaningful data to guide decision-making for companies during the hiring process. Rather than wasting time with the mundane tasks that often come with pre-screening procedures, this platform takes the initiative to map resumes to your job description, assess applicants’ skills, and evaluate each candidates’ soft skills and motivations for applying—all within a span of ten minutes.
The platform offers pivotal features such as ranking candidates to help employers better shortlist candidates for interviews and in-depth, AI-driven insights to help companies identify the best person for the job—ultimately raising the bar for hiring software.
AI in Recruitment
Would you rather spend hours doing pre-screen interviews with a huge number of applicants or focus your energies on the top candidates? Surveys reveal that recruiters using AI find it to be most helpful within the categories of sourcing candidates (58%), screening candidates (56%), and nurturing candidates (55%)—proving AI’s vital importance in all phases of the hiring cycle.
Interviewer.AI builds what is known as “Explainable AI” to help teams identify key desirables in their talent acquisition processes. With this framework, insights are provided on the vital performance factors of candidates. Additionally, the AI infrastructure is always working to minimize the risk of prejudiced judgments that may arise from limited black-box AI approaches.
By assessing a wide spectrum of facets for each candidate, this state-of-the-art AI strategically organizes everything from soft skills to the evaluation of key success factors identified by I/O psychological heuristics and industry knowledge. Combining visual, audio, and textual data, the relevant information is extracted using natural language processing and audio analysis tasks.
This automation generates a splashboard of insight that is then evaluated by what is known as “Narrow AI”. This AI is specifically designed to measure important aspects that can be read from the screen such as eye contact, emotional state, energy level, etc. These observable metrics are then translated into data points to evaluate the candidates’ key success factors. Combining both psychological tactics and machine learning, the AI arrives at its final interview score of the candidate.
The training datasets that are employed by Interviewer.AI are global and purposefully curated to avoid any undesirable historical biases in hiring. By embodying an objective approach to assessments—a fair representation of age groups, genders, and ethnicities is utilized.
When augmented with traditional talent acquisition from human resources, “Explainable AI” goes further to bring the value of objectiveness, scalability, and explainability to the professional human teams in recruitment and boosts the effectiveness and efficiency of each department overall.
The Future of Hiring
By automating where appropriate and integrating AI for a more efficient approach to the many hoops that are a part of the hiring process, Interviewer.AI is helping businesses ease into a new era of recruitment.
In turn, the burden is also taken off of candidates—they need only create a job interview and share the link on their career page, social media, or jobs site—and the Interviewer.AI platform takes care of the rest. Creating symbiosis between employees and employers, Interviewer.AI will help turn a page on the “Great Resignation” and write a new chapter for hiring in 2021.
Disclaimer: This article mentions a client of an Espacio portfolio company.