Traditional Headhunting versus Slected.me AI-based Headhunting in Germany
Traditional Headhunting versus Slected.me AI-based Headhunting in Germany
With each passing minute, the world of recruitment evolves. Over the last few years, new technologies have made recruitment systems more efficient and automated. Some top Executive Search Agencies in Germany are now employing candidate matching algorithms that have made the process of locating top talent considerably easier and faster.
Almost 13% of companies have either used or are planning to implement Artificial Intelligence into their HR functions. With its skills, AI is assisting the Best Executive Search Agencies in Germany in not only locating top people but also in doing it more swiftly, resulting in more productive and profitable clients.
Traditional Headhunting vs. AI Headhunting
Headhunting replaced a reactive process that focused on matching highly-specific skill sets to find the most appropriate candidate for as many positions as possible with one that shifted the focus to finding the most appropriate candidate for a specific position with a specific company.
To recruit competent employees in an increasingly competitive environment, new technologies and recruitment strategies must be integrated. Soft talents are becoming more important in today’s economic environment, but they’re difficult to spot on a CV.
The truth is that many firms are looking in all the wrong places for talent for difficult-to-fill positions. A recent survey by multinational recruiter Hays indicates that while companies have high aspirations to hire in 2018, a severe skills shortage in the fastest-growing areas could impede plans. Because of the significant scarcity, 92 percent of employers claim it is harming productivity, employee happiness, and turnover.
This is a concern since highly skilled tech occupations such as machine learning engineers, data scientists, and front-end developers are in short supply.
Companies that are more flexible with their standards have a higher chance of securing a good employee because these individuals are like rockstars, receiving two to three job offers for every available post. In comparison to that, in a finding, nearly 52% of recruiters stated their average recruitment time for any given post was at or above three weeks.
While HR professionals struggle to understand all of the new technologies that they must use to do their jobs, they must also deal with the time-consuming process of finding applicants.
It is all about Speed and Quality…
The following two parameters are monitored in a good and efficient recruiting process:
- The time to hire is a crucial and sometimes overlooked KPI in the recruiting process. Not only does the recruiting process consume internal resources and cost money, but the empty job position does as well. Almost 60% of recruiters believe they can hire people at entry-level jobs in three weeks. Some believe they can hire in even less. However, about 18% believe that the process can take nearly a month or more.
- The KPI that best reflects a recruiting department’s strategic worth is quality of hire. It is defined as the value a new hire adds to the long-term success of your firm. Standardized and job-specific comparability of performance must be ensured to measure and enhance the quality of hire. Communication skills, for example, are critical for sales personnel and should be assessed. Already in the hiring process, AI can assist in quantifying these.
How Slected.me Artificial Intelligence (AI) Can Improve Traditional Headhunting
Employers frequently ask traditional headhunters to discover the best candidate based on fairly specific criteria. For two reasons, this can be problematic. Before a candidate may be evaluated, the criteria used frequently reject a huge number of possible applicants.
Because most organizations utilize the same general criterion, they’re all fighting for a small percentage of the total candidate base, resulting in numerous vacant vacancies.
Slected AI headhunting flips this process upside down. Because AIs may assess tens of thousands of candidates at the same time, they can generate updated candidate lists in real-time when the search criteria are changed. This allows you to find highly qualified applicants that were previously overlooked because they didn’t match your search parameters exactly.
The comparative cost of using Slected AI-based system of headhunting costs less in both short and long run. The average cost of recruiting for any position according to recruiters is hovering at 4200 euros. However, 31% of the recruiters have a higher budget than that, with nearly 5% of recruiters spending upwards of 6000 euros for every recruiter person.
In comparison to this cost of traditional headhunting, when a company commissions the use of Slected AI software for their company, the cost ranges from minimum 699 euros to maximum 4990 euros for more than one job search which is much more cost-friendly as compared to traditional headhunting.
It includes the development and implementation of AI in their standard business model.
How Artificial Intelligence (AI) is making Traditional Headhunting outdated
Self-service headhunting applications are anticipated to become available as technology advances. Employers will be able to find the perfect candidate themselves, reducing the need for traditional headhunters. The Slected AI tools can help businesses transform headhunting practices into a more proactive mode, taking into account people who aren’t actively looking for work but could be enticed away for a better opportunity.
It’s feasible that one day, headhunting AIs will be intelligent enough to manage the full headhunting process, but that day is still a long way off. For the time being, Slected AIs can assist in the initial stages of the process, but the results they provide must still be evaluated by experienced headhunters.
Slected.me AI Software Is Setting New Benchmarks
In conclusion, Artificial Intelligence Candidate screening is the best process to get to know candidates and their soft skills early in the application process. Artificial Intelligence aids in the identification of the best prospects, reduce the likelihood of high performers being rejected, and thus improves the hiring quality. With the use of various filters, you can find just the right candidates that match your skills and salary requirements within minutes. Simultaneously, this procedure is much faster than traditional recruiting, reducing the time to hire by 30%.
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