How can AI chatbot help you with recruitment?

“Looking for good, reliable interns,” went my ad. More than three dozen people responded, and I went through a tedious process trying to screen them. 

Me: “Do you have experience?”

Them: “No.”

Me: “Why do you want this internship?”

Them: “I don’t know. You’re offering money, and I’m broke.”

Me: “What do you expect to get out of this?”

Them: “Money and a certificate.”

I wasn’t trying to recruit for the Avengers. Why was it so hard to find smart, motivated individuals? Forget the hard part; I spent hours looking for the right bunch of people.

Only if I had a bot doing it for me. That’s right. Bots. AI Chatbots can help you with recruitment.

Seems incredulous, doesn’t it?

Wait till you hear all the facts!

Chatbots can do what the HR does and faster

So say you’re a smaller company or a startup. You may not have as much manpower or the resources to hire an HR manager. What do you do then? Do it all by yourself? You could except you would have to take your eye off the ball and focus on sifting through numerous applicants.

Get a chatbot instead. It can help you with the initial screening process and save time while they’re at it. According to a SHRM study from 2016, the average cost per hire for companies is $4,129 and the average time it takes to fill a position is 42 days.

Lay-offs are a result of bad hiring and not so much because of the prevailing market conditions.

Chatbots can help you screen better.

Some of the parameters by which potential employees are judged include GPA, skill set, and relevant experience. Bots can be trained to assess their personality as well. Take Interact by Xiobin as an example. It’s the world’s first assessment platform. Candidates can take assessments prior to the interview. This can help employers weed out candidates that do not match their expectations.

While grades do matter, they aren’t the sole factor that an employee looks or should look for.

Chatbots can save you money.

I’m not trying to say this can save you travel expenses or the expense incurred during the recruitment process.

A survey by CareerBuilder found out that 41% of companies have lost at least $25,000 and 25% of companies have lost $50,000 all because of a bad hire.

Usually, a company has to go through tons of potential candidates in a single day. You can cut the thick tension in the interview area with a knife. Going through so many resumes in a day can leave room for human errors. Using a chatbot can save you a lot of effort, and you will only have to interview the people who make it through the final screening. That, can help you find the right candidate and save your company thousands.

Candidates have a better experience with chatbots.

Chatbots spells good news for candidates as well. They can take their time and answer questions. This takes out the whole ‘I’m so nervous’ emotion out of the equation.

As a recruiter, you will not have the time to send out a personalized email to every candidate that applies. After the first round of recruitment, candidates are often in the dark about their application. Chatbots can help to automate this process. They can be used to send personalized emails to everyone who applied bringing good or bad news for them. Not hearing back from a company can make candidates feel ignored. Zappos, a US retail giant, implemented TalentPitch in their hiring process. Zappos achieved 97%  candidate satisfaction.

Chatbots can inform candidates about work culture.

Forget the fancy PowerPoint presentations trying to schmooze candidates into joining your company. All you need is an AI powered chatbot. The bot can introduce candidates to the company that they are applying to in an interactive way. This saves you precious time and money. It even helps you to get the word out there and reaches more candidates. A great example of this is Mya, an HR chatbot. Mya answers questions about the company.

AI Chatbot can help you find past applicants faster.

How often have you wondered that you remember seeing a resume that you swear was the right for your current job opening? Try Textkernel. It is an AI powered bot that scrapes through past applicants profiles’ to find you the perfect candidate. Again, it saves you time. You don’t have to spend hours on LinkedIn to hunt for them.

To AI or not to AI?

A bot can never replace the ‘human’ in human resources. But, it can sure make the process of hiring and perhaps firing a lot easier. Chatbots kill the whole concept of sending out resumes to companies. Companies don’t have to waste time sifting through an entire football field worth of candidates either.

Investing in a good AI chatbot can work wonders for your recruitment process. It can actually allow recruiters to do their job better. The interview round is much shorter and more fruitful. Reaching out to more candidates is also simpler. Educating them about the organization and what is expected of them is more efficient.

Saving money, a whole lot of time, and weeding out bad hires. I think the answer is pretty clear, don’t you?

Why Payless is going out of business and what you stand to learn from it

Payless just filed for bankruptcy. Here’s how you can avoid their mistakes!

THE BANKRUPTCY

Payless filed for bankruptcy for the second time in 2 years on Feb 14, 2019. It decided to close all of its 2,100 stores in the U.S. and plastered huge ‘GOING OUT OF BUSINESS’ posters on its windows.

Bargain hunters had a field time with the last minute 20% off on shoes that were already super affordable while tall boots had a 40% discount.

So, what went wrong?

The concept in itself isn’t alien. Wish, Shein and Romwe are all online budget clothing stores that sell items for prices cheaper than other retail or online stores. The conspiracy that Shein and Romwe might be the same company keeps finding a way to surface every time some influencer puts out a video on their shopping haul but I’m digressing.

People, and by people I mean consumers, aren’t opposed to the idea of buying items for reasonable prices. They are dubious of the quality as most believe that lower price tags equals low quality but Payless isn’t like that.

THE STUNT

Last November in 2018, Payless pulled off a remarkable stunt by having dozens of influencers and fashionistas believe that they were invited for a sneak peek to a luxury brand’s opening named Palessi. Lo and behold, these influencers forked over hundreds of thousands of dollars for Payless shoes that they believed to be a luxury store.

It was eventually revealed to them that they had bought Payless shoes and the difference was returned. It served as a great marketing tactic and faith in the brand was renewed. Affordable doesn’t mean low quality.

But, human psyche cannot be changed with one prank. ‘You get what you pay for’ is deeply ingrained in most people’s minds. To top that, in a social media-obsessed world like ours, branding is everything. And if you own Payless shoes, you’re not living the whole FOMO life. Let’s not forget, AirPods users don’t speak broke.

Terrible offline and online experience

Psychology aside, Payless didn’t do itself any favours by having consumers suffer through a terrible online experience. Even companies that are strongly rooted in the physical retail landscape know that having a strong online presence is vital to compete with the eCommerce industry.

If that weren’t enough, they didn’t focus on the most important thing that customers crave in a brick-and-mortar store: Experiential Shopping. Nike has done a darned good job of setting those expectations with its flagship store.

How To Avoid Payless’s Mistakes

To avoid going belly up like Payless, focus on the in-store customer experience and develop and maintain a strong online presence particularly on social media (especially if your target audience includes millennials).

  1. Personalized recommendations: Shoppers love product recommendations that have been tailored to suit their needs.
  2. Curated shopping experience: From a tailored Spotify playlist to a beacon scavenger hunt, consumers love a good experience. And, they value an improved experience far more than they care about product quality.
  3. Product information: Millennials like the idea of ‘invisible payments’. While millennials want instant gratification and prefer to shop in-stores and buy products immediately rather than wait for their online orders to ship, they still like the idea of minimal human interaction that comes with online shopping. Having NFC enabled products or dynamic QR codes on packaging allows millennials to quickly get all the data they need about the product to make an informed decision.
  4. Instant Checkout: Amazon Go, Zippin and other big-box retailers have made Scan and Go a must-have when it comes to improving customer experience. Creating such Instant Checkout booths is a piece of cake with QR codes and NFC that supports cardless payments.
  5. Social media presence: Customers trust social media reviews and make snap decisions to buy a product based on how well the product is marketed. Almost every social media platform allows shoppers to buy directly from the business’s page. Instagram even lets users buy products directly from Instagram Stories. Having a strong presence allows businesses to connect and engage with their loyal customers while drawing in new customers.

Get this FREE eBook: How businesses can use NFC, QR codes and beacons to improve their ROI

What do you think is the most important part of a consumer’s journey? Sound off in the comments below!

How Nike is changing the face of retail

The retail apocalypse saw several big-box retailers like Toys R Us close shop but retailers who had taken a technology-first approach weathered the storm. This is very telling of what the future of retail will look like.

E-commerce is often touted as the biggest reason for the retail apocalypse and a threat to the very survival of brick-and-mortar stores. While that is true, the fact that people can now shop online isn’t why retail is dying.

E-commerce has changed the way people shop and their expectations from shopping. 24×7 customer support, product recommendations based on purchase history, discounts and deals and shopping that isn’t bound to time or place.

Big-box retailers like Macy’s and Sephora completely understand the need for such experiential shopping and have implemented Bluetooth beacons to display relevant content to their shoppers whenever they approach a particular product or aisle.

Other small businesses have resorted to using QR codes and NFC tags to support cardless payments, increase post-purchase engagement and attract more visitors to the store.

Sure, Amazon Go and the Amazon 4-star store have a myriad of technology that makes cashierless checkouts possible but it is still far from dominating the physical retail landscape.

You may also like: Retail marketing trends in 2019 that you should adopt

Nike’s flagship store, House of Innovation 000, has outdone them all. A behemoth of a building that is spread across across 68,000 square feet, House of Innovation 000 makes retail come to life.

A living store that evolves

Consumer-backed inventory isn’t an entirely new concept but Nike has displayed a brilliant execution.

The Nike Speed Shop inside the flagship store uses local data to stock its shelves. Re-stocking is entirely based on what the community wants.

Nike also offers a digitized experience without any human interaction in the Sneaker Bar using a digital read-out of locals-only data. But if you’re still a sucker for human interaction, you can always get a store athlete to help you.

The loyalty program is also enamouring. NikePlus members can use their phone to reserve items to be kept in an in-store locker to be picked up at their convenience.

Nike also understands how important it is to customers to carry home a product that has been customized by them. The Arena allows shoppers to explore their Pinteresty DIY dreams by allowing them to choose from laces to decals to embellish their footwear.

Of course, you can do it as a group too. The Nike Expert Studio allows locals to book a customization session in-store or on the Nike App. NikePlus members can have a one-on-one session to find and create and find the right item.

But wait, that’s not all.

The customization doesn’t end with products.

The Arena’s tiles are customizable to such an extent that they can be rearranged at a moment’s notice. As the products evolve, the store evolves with it.

Familiar technology coupled with some fascinating additions

The Nike App offers NikePlus members ‘Unlocks’ when they enter a store or ‘Scan to Try’ wherein you can have an item brought to you in the trial room. ‘Shop the Look’ paves the way for talking mannequins. These mannequins have a scannable code which allows shoppers to see if an item is available in their size.

The familiar scan and go technology is named Nike Instant Checkout at the flagship store that allows you to skip lines and checkout instantly.