The Best Investment You Can Make is Hiring the Best Talent
Business
People are the most important asset in your company. Employing top talent requires identifying and hiring the most qualified candidates as quickly and efficiently as possible.
Click below to learn how SmartRank can help you:
- Hire better qualified candidates faster
- Reduce attrition
- Reduce the ever-increasing costs of internal or external recruiters
- Reduce wasted time of highly compensated employees
- Reduce time & money associated with the 99% of applicants you don’t hire
- Reduce the friction and dysfunction that exists between talent acquisition and hiring managers
Initiative: Hire better-qualified candidates faster
Solution:
Identify top applicants the moment they apply, and have an efficient process for getting hiring manager feedback and communicating with the applicant
How SmartRank Helps:
Applicants are immediately stack-ranked and filtered based on their answers to hiring-manager-generated questions specific to the requisition. Top-ranked applicants for all your requisitions appear immediately in the “Top Applicants” view. For an even faster response, you can be notified via email whenever a top-ranked applicant applies.
Initiative: Hire better-qualified candidates faster
Solution:
Identify top applicants the moment they apply, and have an efficient process for getting hiring manager feedback and communicating with the applicant
How SmartRank Helps:
Applicants are immediately stack-ranked and filtered based on their answers to hiring-manager-generated questions specific to the requisition. Top-ranked applicants for all your requisitions appear immediately in the “Top Applicants” view. For an even faster response, you can be notified via email whenever a top-ranked applicant applies.
Initiative: Reduce attrition
The expected cost of turnover is 30% of an employee’s first year salary, which for professional occupations is about $71,000/year. Find out what turnover is costing you below:
Solution:
Reduce the risk of miscommunication by identifying critical qualifications needed for employees to be successful and having a record of how they self-assessed on each.
How SmartRank Helps:
Every applicant answers the same set of highly-specific screening questions pertaining to their qualifications for the role. The criteria for success in those roles is made extremely clear, and the applicant’s answers are 100% documented and scored based on the hiring-manager’s weighting. Correlations between answers and outcomes (e.g. positive/negative hiring manager sentiment) allows SmartRank to get better over time at predicting successful hires.
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Initiative: Reduce the costs of internal and external recruiters
Average internal recruiter salary is $80,000 – $120,000. External recruiting fees average 15% – 30% of the first year salary. Recruiters spend 57% of their time screening applicants, 99% of which will never be hired.
Solution:
Instead of having recruiters spend hours looking at resumes and doing phone screens, have the applicants answer screening questions when filling out the application. Have a machine rank the applicants based on their answers so recruiters can spend their time focused on recruiting the top 1%. Use automation tools to deal with the 99% professionally.
How SmartRank Helps:
For any given requisition, all applicants answer the same set of role-specific, multiple-choice questions, and thus are ranked objectively based on their qualifications. Instead of reading resumes, recruiters use the rankings to quickly and efficiently recruit the top-ranked candidates and use SmartRank’s bulk action features to professionally deal with the rest in no time at all. SmartRank’s ranking and automation tools enable one recruiter to do the job of three or more recruiters.
Initiative: Reduce wasted time interviewing unqualified applicants.
Asking recruiters, who are rarely subject matter experts in every field they are hiring for, to find the best people based on a hiring manager’s stated requirements is unrealistic. One measurable cost of this misplaced expectation is the time hiring managers must spend in interviews to find the right candidate and that cost is trackable in your Interview-to-Hire Ratio. This ratio measures the cost of the number of interview person hours required to make a single hire..Below is a way to gauge what interviewing the wrong candidates is costing your organization.
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Solution:
Reduce the amount of interviews your team is conducting by ensuring they are only interviewing candidates that have been thoroughly screened for the specific qualifications of the role.
How SmartRank Helps:
Every job application receives a SmartMatch® score, which is derived from the weights assigned to the multiple-choice answer options the applicant selected to the role-specific questions. Hiring managers create the questions, highly-specific answer options, and weights so they learn exactly what they want to know about every applicant’s skills and qualifications well before conducting an interview. Relieving recruiters of the burden to be subject matter experts ensures hiring managers only interview the most qualified candidates, and greatly reduces the interview cost per hire.
Initiative: Reduce time & money spent on the 99% of applicants you don’t hire.
Recruiters and hiring managers waste enormous amounts of time looking at resumes and profiles of applicants they will never invite for an interview because they don’t have any other way to know which applicants to invite.
Solution:
Stop using an Applicant Tracking Systems that just acts as a digital catalog of resumes and stop using resumes (which lack context and truth) to assess talent. Instead collect detailed, searchable data on all your applicants and use that to make quick, objective, and highly justifiable decisions.
How SmartRank Helps:
Applicants are stack-ranked based on their answers to role-specific questions. SmartRank provides bulk pass and bulk disposition tools with corresponding email templates that allow recruiters to get back to lower-ranked applicants quickly and professionally in a single click without ever spending a second looking at their resume. The applicant’s answers provide a detailed rationale for passing that a resume scan cannot. SmartRank allows your team to focus on the best talent and automate the rest.
Initiative: Improve communication and reduce dysfunction between recruiters and hiring managers.
80% of recruiters think they have a “high” to “very high” understanding of the jobs for which they recruit. However, 61% of hiring managers say the recruiters have a “low” to “moderate” understanding of the jobs they’re recruiting for. Miscommunication and dysfunction between recruiters and hiring managers arises from the expectation that recruiters are subject matter experts who deeply understand hiring manager needs, and is exacerbated by the ambiguity inherent in the legacy tools they use to communicate: job descriptions (e.g., “experience with X…” is so vague as to be meaningless) and intake meetings (i.e., “what are you looking for?). Applicants interpret that vagueness how they wish, resulting in an excessive amount of unqualified applicants. Some of those applicants will be referred to the hiring manager, who, seeing a lack of ROI, invests even less in the already dysfunctional communication.
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Solution:
Remove the expectation that recruiters be subject matter experts and stop using the ambiguous legacy tools and processes that only waste hiring manager time and produce low return on investment. Instead, use tools that allow hiring managers to know everything they want to know about every applicant, directly, and deliver the top candidates based on the hiring manager’s own criteria (not the recruiter’s crystal ball). These tools should incentivize hiring manager engagement by producing better results when hiring managers are more specific about their needs.
How SmartRank Helps:
Recruiters are no longer expected to understand the qualifications for every role and know what the hiring manager is looking for. Instead they help hiring managers to create highly-specific questions and answers that define exactly what is needed for the role. Applicants answer these questions creating a SME-to-SME communication channel. Recruiter’s don’t need to have any subject matter expertise to facilitate, they just send the applicants with the highest SmartMatch® scores to the hiring manager for review. If the hiring manager doesn’t like the applicants, it’s not the recruiter’s fault, because the hiring manager chose and weighted the questions. With everyone incentivized to play their part without unrealistic expectations the recruiter/hiring manager relationship becomes highly cooperative and functional.
Enter SmartRank
SmartRank’s approach to screening completely replaces the job description and resume with a truly objective and inclusive ranking system. By removing the resume, SmartRank effectively removes the unconscious bias that is typically generated by it. SmartRank also incorporates ratings into the pre-screening process with its novel colleague rating feature.
Additional innovative tools help bridge the gap between talent acquisition teams and hiring managers. By bolstering the communication and engagement with hiring managers, talent acquisition teams can make better and faster decisions on top talent.
SmartRank then combines human intelligence and Machine Learning (ML) to weight selected data so that applicant scores correlate to attrition and performance data. This continuous feedback loop helps humans to create increasingly high-signal inputs that can better prevent regretful hires and predict top talent in the future.
Discover Your Next
Perfect Candidate Today
The top talent you seek is out there—we provide the tools to help you find them.
Modernize your screening process with SmartRank.
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