How To Optimize Cost per Hire With a Recruitment Chatbot

Are you frustrated with the cost-per-hire figures? It isn’t only you. A high cost per hire can strangle your budget, slowing the hiring process and potentially leading to less qualified candidates. This could have significant consequences for your entire company. However, recruitment chatbots powered by AI, such as CloudApper’s AI Recruiter, can be a valuable tool. By automating processes such as resume screening, interview scheduling, and integration with various well-known ATS and HCM platforms, the AI Recruiter serves as a single platform for automating multiple aspects of your hiring process and lowering your cost per hire.

What is Cost per Hire?

Cost per hire is the total amount of money you spend to fill a single open position. This includes everything from advertising and sourcing candidates to interviewing and onboarding new hires.

What are The Reasons Behind a High Cost per Hire?

Repetitive Manual Tasks

Screening resumes, scheduling interviews, and answering basic candidate questions for each candidate individually can be exhausting and time-consuming. Not only that but cross-checking for conflicting interview time slots can be much more stressful and tedious.

Prolonged Hiring Process

Because of all the tedious and repetitive processes, the hiring process takes longer. It can take much longer if the procedure isn’t streamlined and you have a vast pool of applicants. Since it requires such a lengthy process, hiring costs rise dramatically.

External & Internal Costs

Beyond the obvious external costs like hefty recruitment agency fees, a bloated CPH (Cost per Hire) can also stem from underutilized internal resources.  Your HR team’s valuable time gets bogged down in repetitive tasks like resume screening and interview scheduling. This not only frustrates your team but also drives up internal costs as their expertise is wasted on mundane activities.

How Can CloudApper AI Recruiter Help to Optimize Cost per Hire?

CloudApper AI Recruiter is your secret weapon in the fight against high cost per hire. Here’s how it can help:

Automate Repetitive Tasks

With CloudApper AI Recruiter, you can free up your recruiters’ time by automating repetitive tasks like scheduling interviews, responding to frequently asked questions, asking pre-screening questions, and ranking the best-fit candidates. This lowers internal costs connected with recruiter time and accelerates the recruitment process.

24/7 Availability

The CloudApper AI Recruiter allows candidates to apply for job postings at any time. All they need to do is scan the QR code of the job opportunity that you will need to create, and the chatbot will open instantly and begin conversations with the candidates. Candidates can ask the chatbot any questions they have regarding the position, and it will readily answer them. This allows Candidates to connect and have their questions answered at any time of day or night, thereby attracting a larger talent pool and improving the candidate experience.

Streamlined Candidate Assessment

CloudApper AI Recruiter can assess candidates based on predefined criteria, excluding those that do not fulfill the basic requirements. Those who pass the pre-screening phase will be prompted to schedule an interview within the date range you specify. This guarantees that your recruiters focus solely on promising candidates, enhancing hiring efficiency and lowering cost per hire.

Singular Platform for Multiple Service

CloudApper AI Recruiter offers a unified platform for candidate screening, interview scheduling, and even employee recommendations. This eliminates the need for different tools and streamlines the hiring process, saving you both time and money.

Seamless Integration

CloudApper AI Recruiter interacts with all major HCM and ATS platforms like UKG, Workday, ICIMS, Oracle, ADP, etc. enabling a smooth workflow and maximizing the value of your existing recruiting technology investment.

Conclusion

By automating tasks, being available 24/7, offering a streamlined platform, and integrating seamlessly with your existing HCM and ATS systems, a recruitment chatbot like CloudApper AI Recruiter can significantly reduce your cost per hire. Stop letting a high CPH hold you back.

Contact us today to optimize your cost per hire with CloudApper AI Recruiter.

*Disclaimer: Due to privacy reasons, the identity of the person or company cannot be revealed.

FAQ: Optimize Cost per Hire With Recruitment Chatbots

Q1: How to Decrease Cost per Hire?

You can decrease your cost per hire by using recruiting chatbots. These Conversational AI-powered recruitment tools can decrease your cost per hire by automating repetitive tasks, being available 24/7, and being a single platform that can replace other tools that cost a lot.

Q2: How do You Calculate Cost Per Hire?

Cost Per Hire is basically the average amount of money you spend for hiring a single person. You can calculate Cost Per Hire by dividing the total amount of money you’ve spent on a single year by the total number of new hires.

Q3: Why should businesses care for cost per hire?

Businesses should care about cost per hire because while it’s crucial to fill the company with the most talented people, it’s also crucial to know the expenses that come with the recruitment processes. gaining such data, businesses can gain more insights about the success of their recruitment processes and optimize the cost as per the insights.

*Disclaimer: Due to privacy reasons, the identity of the person or company cannot be revealed.