The major bank argues that the initiative has lowered turnover rates and reduced the influence of prestigious universities or schools.
“Job candidates and NAB are reaping the benefits of the bank’s new approach to volume-based hiring, which has seen the end of reading resumés and traditional job interviews,” said NAB in a statement.
Twelve months ago, NAB piloted online cognitive assessments and video interviews for candidates for entry-level roles across many parts of the business.
This approach has since been adopted more broadly for some 2,500 entry-level roles a year.
NAB also argues the new model saves more than 700 hours per month in management time, helps the bank recruit faster those who are well suited to their roles, and has halved turnover for new starters during training.
NAB Chief People Officer Lorraine Murphy added that the new model is both fairer and faster.
“This online recruitment
model is just one of the things we are doing to recruit the right people into NAB, to ensure we have a great workplace and deliver great outcomes for customers,” she said.
“The model helps us to identify and hire great people in a fairer, more effective way and reduce the risk of unconscious bias – things like your name, what school you went to are irrelevant.
“The model had been particularly well received by digitally-savvy candidates, who the bank is keen to hire.”
She added many candidates appreciated that the process was faster and they could take part from their own homes.
This year, HRD interviewed Cherie McGill
, executive director for human resources
at Mantra Group, to discuss how her HR team has embraced video job applications from candidates.
McGill said it has helped to enhance the candidate experience and provide efficiencies for HR.
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National Australia Bank is forgoing CVs and face-to-face interviews for thousands of entry-level jobs.