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Excerpt: Why we need to rethink interviewing
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The talent shortage, new business pressures, and the uncertainty of remote work are forcing companies to rethink the inefficiencies and hidden costs of interviewing. Companies are doubling the number of interviews each year as tenure gets shorter and the Great Resignation lingers. Interviewing is one of the most critical areas of talent acquisition, yet few companies measure its effectiveness or its impact on overall business strategies.
Unfortunately, the interviewing process for many companies is inconsistent, impersonal, and filled with bias. Interviewers operate without any rules of engagement and candidates are left without feedback.
New research from Aptitude Research found:
- One in three companies are not confident in their interview process
- One in two companies have lost quality talent due to a poor interview process
- Less than 50% of companies measure the ROI of their interview process
While the methods of interviewing have evolved, the content and delivery has not. Over the past two years, companies have moved to virtual interviewing platforms with increasing fatigue on both sides. Yet, abandonment rates and the risk for bias have made some of these solutions less effective and less human. Companies are now actively looking to fix this broken process. According to this study, 36% of companies identified interviewing as a top priority for 2022 and 52% of companies are accelerating their investment in interviewing technology.