How to Reduce Offer Drop Outs Using Conversational AI
Have you ever wondered why so many candidates drop out from your offers? It could be due to the fact that the people who drop out from your offer are not interested from the start. In that case, the job of increasing your conversion would be a simple one. But that is not always the case. There is a lot of friction in your conversion funnel. So why not increase your conversion by reducing this friction? And that is what conversational AI can help with.
Conversational AI solutions have increasingly become a part of many talent acquisition efforts in recent years. In fact, according to Aptitude Research’s 2020 Talent Acquisition Study, 38% of companies are currently using or approximated to use conversational AI by the year 2020 in comparison to only 7% from the previous year. And, in 2022, the numbers are much higher. It is rather interesting how most companies are still pushing pause on other areas of talent acquisition technology, but the utilization of conversational AI remains steadfast. This increase in focus towards conversational AI is due to companies’ continued need for assistance with recruiting tasks. However, forgoing other forms of technology does not necessarily mean undercutting its capabilities, as you will soon learn when we discuss its various benefits.
It is a common phenomenon that many people who accept a job offer suddenly vacillate a few weeks before they start work. This is a big problem especially in the IT industry where the cost of finding and interviewing a candidate is very high. However, things are changing and one of the ways this is being solved is through the use of conversational AI which is being used to reduce recruitment offer dropouts.
Recruitment offers have been around for a long time, but these offers are causing businesses to lose money. It is estimated that up to 40% of recruitment offers are dropped by employees at a later stage. This is due to the fact that the people that took a job were not the right fit for the role, as well as a lack of interaction with the company, post the release of an offer letter. There is a way for businesses to fix this problem and that is with conversational AI.
Provide Clear Expectations in the Job Description
No one wants to be left in the dark. And the same can be said for prospective employees. A recent study conducted by the University of Warwick revealed that the more information a candidate has before making a decision, the less likely they are to drop out of the hiring process. For example, if you’re hiring for a role that requires three years of experience in a particular field, don’t leave out this information. Instead, clearly outline and provide details on the requirements of the job. This way, applicants are given a better chance at understanding whether or not they are a good fit for the position.
Every year, there are nearly 5 million unfilled jobs in America. Even with a 4% unemployment rate, employers are still struggling to fill positions. The problem is that the majority of jobs being posted are not clearly outlined. This leads to a lot of candidates being confused about the job duties and responsibilities, causing them to not accept the position. This issue is especially problematic in the tech sector as it is difficult for some businesses to understand the skills needed to fill their open roles. By training your recruiters on how to properly identify and advertise these roles, you will get a higher volume of candidates and ultimately reduce dropout rates
Give a Timely Response for All Questions
As a HubSpot research report indicates, chatbots have found their way into our lives due to user demand. 71% of candidates state that they are willing to use chatbots in order to get answers to their questions quickly and conveniently, as opposed to waiting days or even hours for an answer from a human HR representative. Did you know that today's employees want answers fast when it comes to company information? When candidates apply for jobs at your company, you can be certain that they want an answer almost immediately because the job market is so competitive and everyone wants a leg up. The solution is providing them with information – and providing lots of it. Automating it is the best way since chatbots can be active 24/7.
Engage in clear communication
The biggest challenge that applicants have to face is lack of communication during a job search. Most hiring processes are done online which means fewer personal touches. Finding ways to make communication better for each candidate works wonders for your company's reputation and ultimately helps you achieve your business goals.
Candidates feel that poor communication is a significant problem they have faced while dealing with recruiters. This can be alleviated by using automation tools to not only streamline repetitive tasks but also make personal touchpoints a genuine aspect of the hiring process, thereby making it more human. If and when updates are communicated, the personal touch needs to be present as well.
Accelerate the culture connect with your future employees
Accelerating a culture connect will reduce candidate dropout, largely because it helps you introduce them to the company and its people in a way that feels almost like a face-to-face interview.
As a candidate for a job, one would hope that the experience with the hiring company will leave them feeling satisfied. After all, this impression will determine whether or not they accept the hiring company's offer. Recruiters and managers alike know that every interaction between candidates and an organization has the potential to positively or negatively influence a candidate’s opinion of the company. One of the ways companies can further accelerate a culture connect is by utilizing conversational chatbots to micro engage with candidates to foster a sense of camaraderie. This is why they make sure that they recruit under consideration of what is commonly known as "the candidate experience."
Companies need to ensure that you can get candidates in the door with just a flick of their wrist. To be successful with recruiting, it is crucial to make your candidate experience one that is fluid and easy to use. By having an easy AI-based recruiting software, a recruiter can determine whether they like what they see or not. Furthermore, potential candidates are more likely to accept job offers and not consider dropping out if it is simple for them to pass through the hiring process without getting derailed at any point
Auto reminders in multiple channels for all Call-To-Action
Candidates are your highest form of traffic. You are always looking for them. You find them through job boards, social media, your network and other platforms. You are always looking for ways to engage them and convert them. Candidates are your traffic, but they are also your least engaged visitor. You have already spent a lot of time and money to get them to your site, but that is just the beginning of the journey. They are the least engaged because they are not committed to you. They are still shopping around. They are still looking for the best offer. In most cases, they are looking for the job that provides the best salary, the best benefits etc. How do you keep them engaged? You keep them engaged through calls-to-action by using the right tools and using them well. One such tool is the auto-reminder.
Auto-reminders when a candidate has completed or accepted an offer and calls to action can reduce drop-out rates in the onboarding process. Auto reminders in multiple channels let you keep in contact with candidates during the application signup process, reduce your drop off rates, and show the potential candidates that you are serious about hiring them.
Constantly share the right content for better engagements
Regular updates keep candidates in the queue engaged and excited. Responding to emails or sharing company news with job-seekers keeps each hire on track. Podcasts or videos and even infographics, both before and after each interview, make candidates less likely to lose sight of considering your offer.
Regular communication from an employer increases a candidate's level of interest, and helps them feel more comfortable throughout the hiring process. Letting candidates know about updates and changes via email keeps the lines of communication open and can help them feel like they are making progress towards earning a job offer. Acknowledging emails tells potential hires that you care and are engaged in what they are thinking; this can be handled effectively by implementing a "virtual headhunter" aka AI-based pre-boarding software. When every candidate feels equally valued, they will also be equally likely to consider your company an attractive place to work, thus leading to reduced drop-offs
The Future of Conversational AI in Recruitment
According to a recent study, if an application process takes longer than 15 minutes to complete, you can expect up to 62% of candidates who start the application process with you to drop out without completing the whole thing.
The emergence of AI in the recruitment process is a welcome change as it has the potential to eliminate the tedious and time-consuming process of going through CV’s of job applicants. In fact, AI’s ability to analyze communication patterns and candidates’ responses, allows recruiters to identify the best candidates for the job. Further, AI’s ability to automate the recruitment process helps in reducing candidate drop-offs.
The future of recruitment lies in the hands of AI. It is because of the capability of AI to take care of all the issues faced by recruiters. AI can answer the phone applicants, schedule interviews, and can even help in predicting the best candidates for the job and reduce the rate of candidate drop-offs.
Candidates are like gold dust. If they are left hanging around outside your site without even knowing what your recruitment process is, they might simply drift away and find something better to do with their time. Zappyhire is an AI-based conversational chatbot platform that simplifies and automates a lot of your workflow. The chatbots are able to read, understand, and process natural language in a way no other technology can. By taking care of all of the above-mentioned hurdles in reducing candidate drop-offs, Zappyhire can help businesses reduce their costs and fill roles more effectively.
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