Decision making is a living event. Business leaders and management professionals everywhere have to make tens of thousands of decisions regularly. The value of timely decisions cannot be underestimated – the time available to make a decision, the time taken to make that decision, and finally, the time taken to implement the decision needs to be optimal. If not, they can cost the organization heavily.
The Cost of Making Bad Decisions
Delayed, ill-timed or erroneous decisions can result in unproductive business flows, decision fatigue and low employee morale at best; and catastrophic business losses and even shutdowns at worst. The world of business is rife with examples: Blockbuster turning down a $50 million offer by Netflix comes to mind in the ‘catastrophic business decision making’ category.
Enterprises of all sizes understand this very real problem. Billions are poured into decision making software such as decision support systems, management consultancy engagements, process improvements, decision making tree generators and techniques to improve decision making. ‘The best way to make a decision tree’ trends often on Google searches. Yet, the outcomes are far from satisfactory: in 2021, unproductive meetings are estimated to have cost businesses a whopping $399 billion in the US alone.
TruthSift for Streamlining Human Resource Functions
TruthSift is a cloud-based platform that uses a weighted graph algorithm to support objective, collaborative decision making. Our patented algorithm evaluates every opinion or insight that is added to a decision making tree and recommends a decision for the statement at hand. The platform allows for inputs from multiple users into every decision being considered.
HR Heads and hiring managers are confronted with hundreds, if not thousands of decisions to be made on a daily basis, particularly with talent recruiting, acquisition and retention. t. Sifting through as many as 20,000 resumes for a role that is sought after is not uncommon.
Recruitment support platforms and AI engines lighten the load during the interview process and improve candidate experience. However, decision making often boils down to inputs from the few people – the HR recruitment specialist, the hiring managers, as well as technical or functional experts in the team – who have spoken to the candidates. It is crucial to document the objective inputs of this core interviewer set and evaluate the best fit for the role. This allows for better transparency and educates the HR team on how the candidates are being evaluated by the Hiring Managers.
Helping HR Teams Achieve Their Goals Faster and Better
TruthSift is a simple to use system that helps HR teams and recruitment specialists zero in on the right fit from hundreds of resumes. HR personnel simply have to log into the system, create a candidate card and set up the criteria for selection, they can share the card with the hiring managers for their input at a later stage. The card can also act as a central repository for all candidate information such as resume and other relevant documents. Once configured, the system notifies hiring managers to let them know that they can add their input when ready.
Hiring Managers can then log into the system after the interview and provide their feedback by creating green (PROs) and red (CONs) entries in a decision tree, they can also score the candidate against the selected criteria. TruthSift’s weighted graph algorithm dynamically updates recommendations for particular candidates. The candidate card will eventually reflect if the candidate is the right hire or not.
Truthsift’s decision tree process circumvents the need for a lot of in-person meetings. Team members can asynchronously, at their own time, login to TruthSift and add their opinions on various candidates whom they interviewed.
TruthSift scores over other systems such as email exchanges, form filling, verbal feedback or evaluations scattered over various documents and messaging systems. It acts as a single platform that HR teams can rely on to centralize their organization’s hiring processes.
An additional bonus: TruthSift allows HR to stay in compliance! The platform can act as a decision traceability store, helping legal teams reference information for discovery and respond appropriately, in case the company faces lawsuits related to recruitment.
Is your org swamped with resumes on disparate systems? Are you looking for a single cloud-based platform to streamline hiring?
Contact TruthSift for a demo today.
References
– https://www.readytalk.com/meeting-resources/infographics/true-cost-meetings-infographic
– https://slate.com/technology/2020/10/artificial-intelligence-job-interviews.html
Very Insightful! I agree, that there’s value in the HR use case!