Human resource experts are working hard to identify optimization solutions in the increasingly complicated and demanding hiring process. According to Gartner, 70% of organizations already use AI-powered solutions for their HR tasks, and another 30% will do so by 2022.
From automating mundane tasks to selecting the right questions, interview software is becoming an integral part of successful hiring. Besides taking some burden off your HR team, it can streamline the interview process, minimize bias, and reduce turnover rate.
Let's take a closer look at how machine learning-powered software has been changing the interview process.
What Is Interview Software?
Interview software is a tool that helps hiring managers simplify and improve the hiring process. It began as an automation solution, taking care of tedious repetitive tasks like data storage and management, and has now evolved into an integral part of the interviewing procedure.
In the past, interview software could:
Give you a place to store interview questions.
Provide an opportunity for virtual interviewing.
Keep track of CVs and candidates.
All the above was in high demand because it helped minimize human error, assisted with data management, and gave decision-makers access to the organized information.
Role of Artificial Intelligence and Machine Learning in the Hiring Process
With the ever-changing legislation and the growing number of candidates, the hiring process is becoming more intricate. The majority of HR managers complain about the complexity of selecting candidates from a large talent pool, which is where artificial intelligence and machine learning can help.
ML-powered interview software can:
Help choose the right interview questions and streamline structured interviews.
Assist with the interview scoring process.
Eliminate bias during the interviewing process.
Help improve DEI (Diversity, Equity, Inclusion).
Scan resumes to choose perfect candidates
Create clear and detailed job descriptions.
The interview software collects data from previous hiring processes and uses it to improve its functions and boost accuracy.
In short, interview software was created to help hiring managers delegate tedious manual tasks. It has since evolved into a comprehensive hiring tool that reduces bias and creates equal opportunities for all candidates.
Where Does Interview Software Currently Stand?
According to Korn Ferry's survey, more than two-thirds of respondents believe that AI allows them to source higher-quality candidates.
Finding qualified and experienced candidates is the number one challenge hiring managers face. Interviewing plays the leading role in candidate selection, which is why many companies are turning to machine learning & AI-powered interview software.
In the 21st century, interview software can assist hiring managers with a variety of tasks, including:
Designing Interview Questions
An interview platform gives HR teams access to a question bank and allows them to create question lists based on keywords and profession. This assists with the structured interview process, which in turn saves time and money while reducing bias.
The right set of interview questions doesn't just allow you to collect sufficient information for decision-making, it also helps interviewers make the right impression on the candidate, thus increasing the chances of hiring top talent.
Unconscious bias is one of the most serious problems interviewers face. It keeps them from collecting the necessary information, prevents candidates from demonstrating their talent, and complicates the decision-making process.
Interview software provides robust scorecard templates that help evaluate candidates based on their skills and talents instead of the interviewer's personal criteria.
When you have a large pool of candidates, it can be nearly impossible to analyze all the available data. Since many HR teams are pressed for time, hiring managers don't have an opportunity to take a comprehensive approach to data analytics.
Interview software allows you to take a structured approach to analyzing data, ensuring the best possible hiring decision regardless of the number of candidates.
Creating a Diverse Professional Environment
The importance of DEI is hard to ignore. According to McKinsey, diversity in the workplace increases the likelihood of the company's financial performance by as much as 48%. However, unconscious bias and poor data analytics keep organizations from creating a diverse and all-inclusive professional environment.
By minimizing bias and helping candidates demonstrate their talents during interviews, interview software is supporting DEI initiatives by helping create an appealing and diverse workplace.
Transitioning to Machine Learning
Technology is evolving further to allow interview software to learn from experience. Many programs can now use the data it collects during the interview process to make it more effective in the future.
For example, by analyzing which set of questions led to a successful hire, the program can make educated suggestions to help with future selection. It can also predict the likelihood of a successful hire based on CV screening results.
Machine learning-based interview software learns without direct human assistance to help you streamline the hiring process.
The Future of Interview Software
According to Deloitte research, 98% of hiring managers expect technology to continue playing an important role in the interviewing process. Here is what to expect from the interview software in the future.
- Machine learning — ML will continue gaining popularity in the hiring process, allowing hiring managers to focus on core functions and helping HR teams make the right decisions.
- Intelligence amplification — by automating processes and using ML, companies will be amplifying intelligence even further, helping hiring managers make the best hiring decisions.
- Staying competitive — in the future, the use of interview software is likely to become more commonplace, making it a competitive edge. By ignoring ML opportunities, it will be easy to fall behind the competition.
- Enhanced DEI — with the rising use of interview software in the workplace, the hiring process will become more equal and efficient, streamlining DEI practices within organizations.
In the future, interview software is likely to become more commonplace, thus improving the hiring process and allowing companies to make better hiring decisions and reduce employee turnover rates.
Prepare for the Future With interviewIA
More organizations are turning to interview software in order to improve their hiring process and progress beyond old, outdated, and time consuming hiring techniques. Taking full advantage of advanced technologies allows you to cut costs, save time, and reduce turnover.
interviewIA's interview platform is a comprehensive set of ML-powered interview tools. It makes use of the latest technologies to bring you a highly sophisticated yet easy-to-use software solution.
For more information, please contact us at any convenient time.