Multilateral Financial Institution
A Multilateral Financial Institution boosts their hiring accuracy by 90% to find the best candidates with impress.ai
90% increase
In hiring accuracy
14 days
Time saved
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Finance
Industry
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~500
Employees
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China
Location
“impress.ai really enhanced our recruitment process while saving significant time for our recruiters. The accuracy of the bot was commendable and created an excellent, highly-qualified shortlist for our roles.”
Challenge
With 1,000+ applications, pre-screening manually was time consuming, inefficient and left the process open to bias.
Results
With impress.ai, the financial institution automated the pre-screening process, saving 14 days of recruiters, time and increasing recruitment accuracy by over 90%.
Business Benefits
Automating repetitive tasks during the pre-screening phase not only saved significant time but quickly identified the best candidates for their roles, giving them an edge in a busy recruitment market.
The Background
Headquartered in China, with interests across the APAC region, the financial institution is a highly sought after employer. Receiving more than 1,000 applications each year, the task of manually pre-screening candidates was tiring and inefficient. The process was taking up to 2 weeks of recruiters’ time, reducing productivity across the team. With each recruiter reviewing hundreds of applications and hand-picking those to progress to the hiring manager, it was also subject to potential bias.
The Solution
The financial institution sought support from impress.ai to automate the process, with the goal of increasing speed and accuracy, enhancing the candidate experience and advancing the organisation’s fair hiring agenda.
Now, a conversational chatbot automates pre-screening and technical assessment, delivering the best qualified candidates in 93% less time. In addition, the chatbot expands on role information and answers FAQs, helping candidates understand the opportunity and enhancing their experience by delivering information instantly, any time, any where.
The chatbot automates the high-volume and repetitive tasks, administering all assessments in one place and seamlessly reviewing candidate submissions. The process is evidence-based and data-driven, reviewing applications against detailed qualification criteria. SAM reviews assessments at pre-screening, job-related screening, competency screening and essay phases to progress the highest potential candidates for the role, without human intervention.
By shortlisting candidates based on demonstrated competencies and domain expertise, the bot removes any potential for human bias, and allows the recruiters to shift focus to high-value activities up the chain. The financial institution’s team also have a live dashboard, giving them access to real- time insights.
The Results
The conversational chatbot enhanced every stage of the recruitment process, delivering the financial institution an impressive shortlist, with 7 out of 12 shortlisted candidates identified as high potential.
In addition, it delivered:
A 93% reduction in time spent in pre-screening, equalling a 14 day productivity gain
96.7% of applications completed without recruiter intervention
Recruitment accuracy of more than 90%
Real-time access to recruitment insights
A 90% satisfaction rating on response to candidate queries
This role was the first automated recruitment project that impress.ai delivered for the financial institution. Due to its success, the financial institution and impress.ai have continued to work together automating the recruitment process for a number of roles within the organisation.
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