Quality talent is the most crucial factor in your startup’s success story. Active job seekers will always apply to your open positions, but you can’t achieve your hiring goals without tapping the passive talent pool. Passive candidates may not be actively looking for a job until something promising comes up. Those are the purple squirrels who will help you build a stellar team for your startup.
As per the Recruitment Automation Trends Report 2020 by Entelo – “73 % of the talent acquisition teams find higher-quality candidates through passive sourcing. Recruiters spend up to 10 hours per week on outreach to passive candidates.”
But herein lies the problem, 10 hours per week is spent in the outreach to passive candidates. The industry response rate can be as low as 5%, depending on the role and the hiring market (Source). You may have to send out hundreds of emails to potential candidates as the first attempt for engagement only to get minimal or no response. Obviously, you can’t move the potential hires through the funnel until you capture their attention and get them to communicate back. It’s a problem that, if solved, can improve your candidate outreach strategy. If you want to create a deeper candidate engagement and increase your response rate, you need to identify the target audience most likely to revert. AI-driven solutions can help your startup reach out to that goldmine and get potential leads to respond, which can improve your time to fill and the quality of hire.
How to improve candidate response rate using Artificial Intelligence
AI can be used to identify passive candidates who may show interest in working for your startup. It may reduce your efforts and get you a pipeline of better-qualified candidates for interviews. AI’s ability to predict the readiness of passive candidates for new jobs can improve your candidate engagement. You can predict the turnover intent of passive candidates considering data points related to career patterns like past experience, tenure, recommendation, education, social media activities, personality, culture fit, etc.
You can further improve the candidate response rate through effective communication. Personalized direct messages from your hiring managers with engaging content, including reference to the skills and experiences that make the candidate a great fit, can definitely grab candidates’ attention. According to LinkedIn’s “Inside the mind of today’s candidate” report- Candidates are 56 % more likely to respond if the hiring manager reaches out instead of a recruiter. A communication from a future potential boss who is believed to have more authority to make hiring decisions builds a positive impact on candidates. It can change a passive candidate’s mind and increase the chances of applying for a role in your startup.
In this candidate-driven market, your communication strategy is what will make you stand out and influence the decision of prospective candidates in your favor. Also, sourcing candidates with a more targeted outreach approach will get you a better response rate too. So, do think about transforming your hiring process by harnessing the power of AI to achieve both objectives.
AMWI, A Digital AI Recruiter, can improve your candidate response rate by 5x. AMWI can get you the best fit and available candidates through automated sourcing and predicting the turnover intent of passive candidates.