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How AI Technology and Risk Assessments are Revolutionizing the Hiring Process

With the ever-evolving world of digital technology, hiring teams now have more tools at their disposal than ever before to recruit and evaluate employees. A cutting-edge development in this field is the use of algorithmic risk assessments and artificial intelligence (AI) to provide employers with a better understanding of potential candidates. 

For job seekers, it’s important to know how future employers are assessing them in the recruitment process.

In our recent LinkedIn Live event, “The Future of Executive Recruitment: Risk Assessments, AI, and Beyond,” our guests Ben Mones, Co-Founder and CEO of Fama, and Rich McNeal, Associate Partner at Talentfoot Executive Search & Staffing, shared their expertise on how AI and best practices can lead to better hiring decisions. 

We asked our guests these questions. Here are some excerpts from the discussion:

What defines a “quality of hire?” What factors should be considered when evaluating it?

Rich McNeal believes that when assessing the quality of a new hire, it is essential to consider not only the interview process but also the onboarding and retention processes. At Talentfoot, we say hard skills get you the interview, but soft skills get you the job. Hiring managers should ask themselves: 

– Does the candidate have the domain knowledge or understand the industry? 

– Do they possess the necessary technical skills? 

– Do they communicate effectively and actively listen? 

– Do they fit into the organization’s culture, and do their values align with those of the organization? 

– Are they committed to their professional development? 

How has the definition of workplace misconduct changed in the past 5-10 years?

Ben Mones shared that companies now prioritize leadership qualities and reputation impact when hiring. In the past, lie detector tests were used to determine authenticity. However, in today’s digital age, companies rely on various methods such as AI screenings, crime and fraud checks, and drug tests to screen candidates. 

How can executive search firms use technology to find great candidates?

Ben and Rich agreed that despite the advancements in AI and other technologies, executive search firms still play a crucial role in assessing and finding high-quality candidates. While AI technologies can provide valuable insights, it cannot fully predict how well a candidate will fit into a company’s culture. 

Are you interested in learning more about how technology and risk assessments are transforming the hiring process?

Watch the full LinkedIn Live event and follow us on LinkedIn to stay updated on the latest industry innovations. If you are a hiring manager or employer, do not hesitate to contact Talentfoot for a complimentary needs assessment.