Every other day there is an article about AI and recruiting taking the surface, but what’s the excitement about? Is bringing AI into recruitment industry the next big thing?
Machine learning is about predicting the future based on the past. Through years of research and data collection, Artificial Intelligence (AI) has emerged from the ashes of big data and predictive analysis. Well, knowledge is contagious!
A recruiter serves as the middle person between the hiring manager and the candidate. AI helps to ease the hiring pipeline and allow a company to get more done, allowing you to spend time on more important activities, like building relationships with a high profile candidate and adding value to recruiting on a strategic level.
Where AI can be most useful in the year 2018:
Am I rowing in this boat alone?
AI is transforming hiring by assisting HRs in various recruitment processes, from identifying talent to mapping behavioral assessments of candidates. In a survey conducted on 2018, 36% of candidates feel the traditional interviewing methods are too time consuming.
Hiring using AI not only saves money and time, but also leverages them so you can select people that best suit your business. AI can predict the future needs of the candidates. Then, the recruiter can influence them with attractive plans and offers.
Now let’s get into the nitty gritty of how Artificial intelligence is reshaping the world of recruitment.
Let me start by explaining the hiring pipeline and the impact of AI in each step.
- Job Publishing
A standard way to approach candidates is through staffing and recruiting agencies, to help them reach their dream job. The quality of your applicants depends on the initial candidates you attract with your job posting. As this is the first phase of recruiting, AI helps you to formulate clear, descriptive job descriptions that explain what exactly you are looking for in candidates.
AI will analyze the data about a company, like their corporate culture, hiring trends, and current employees in order to determine which company can best match this particular candidate and why.
The right message, to the right person, at the right time is what matters. So the job should be posted in the right place for the best exposure. Simply pushing ads to job boards won’t do. Instead, AI suggest the right sources for a particular job based on complex algorithms analyzing the hit ratios and market trends to get your job exactly where the right candidates are, thereby maximizing your reach.
- Talent Acquisition
52% of Talent Acquisition leaders say the hardest part of recruitment is screening candidates from a large applicant pool. When your job description accurately represents who you’re looking to hire, AI can identify the right hire who fits your needs.
For instance, imagine you are able to find exactly what candidate profile you’re looking for. It is possible by programmatic advertising in HR, which helps you aim your job ads directly at the people corresponding to your description, thus saving both parties time. Recruiters have control over the ads. They can set the target audience and also engage with relevant ones.
Recruiters don’t actually recruit people. Their primary job is processing applicants. Even though AI strikes fear in automating the recruiting process, their algorithms have proven beneficial for the legal and medical fields. 72.8% of recruiters are struggling to find relevant candidates. AI can bridge this gap between recruiters/staffing agencies and candidates.
- Candidate Screening
According to a survey by careerbuilder.com, in 2006 just 5% of the recruiters were using social media screening. By 2016 it was up to 60%, and in 2017 it was 70%. This reveals the impact of the social media. A recruiter spends almost 3.5 hours per day on resume reviews and candidate screening. This time can be put to better use.
AI acts as a personal assistant to recruiters by automating many of the mundane tasks that eat up the day. One of the best ways to utilize AI is through chat bots and automated message services.
By assigning rules and triggers, you can automate conversations related to specific hiring or job queries and receive instant answers. This process reduces the need to respond to emails or phone calls–without compromising on candidate experience.
AI uses machine learning, meaning that the more data it has at is disposal, the better it becomes at predicting successful outcomes. Thus, less time spent on sourcing, screening and more time for candidate relationship building, developing culture, and other value-added HR activities.
- Machines as Matchmakers
In order to make the right hire, every recruiter needs their recruitment process to function as a well-oiled machine. But the truth is, in certain areas, you may lose on top candidates. To ensure you never miss out on right applicants, you must to grease the machine wherever it squeaks.
With greater access to relevant data than ever before, recruiters are in better position to match job seekers with better job openings. AI improves the odds of creating great match from the beginning of the recruiting process by applying predictive algorithms to make predictions that select only the most relevant jobs before showing them to job seekers.
To get the recruitment process right, AI algorithms are incorporated in the company’s recruitment tool. Recruiting processes, like finding candidates, resume parsing, sending follow up mails, arranging interviews, evaluating assessments and getting feedback, are all automated.
- Hire and Keep
Keeping the track of your internal employees is just as important as getting new ones in the organization. Artificial Intelligence remains relevant even after the actual hiring process. Pay attention to details, like why employees leave the companies or switch departments.
Employee experience is a great factor influencing potential candidates. According to recruiters, 48% say that better company culture attracts better prospective hires. Algorithms can be the biggest help in keeping your employees happy.
Let’s see why recruiters should embrace AI.
- To Reduce Bias
Bias is a big concern in the field of recruitment. It’s up to HRs to curb conscious and unconscious bias throughout an organization, especially during the preselection process.
Software doesn’t suffer from human bias. However, AI still requires a human touch to stop unconscious bias.
- Use Time Effectively
Recruiters are busy people. If you were to have a thorough look at your day-to-day activities, you’d be surprised by the amount of time you spend on tedious manual tasks. According to research by PwC, executives see AI as a means to alleviate repetitive tasks. This includes sheets (78%), scheduling (79%), and paperwork (82%).
Between scheduling interviews, screening candidates, and trying to understand the evolving needs of your team, you don’t want to get stuck with mundane tasks. These things can be taken care with a few simple AI solutions like programmatic advertising.
- Improved Candidate Experience
AI is not only beneficial for you and your team; it is also beneficial to enhance the candidate experience. Advanced methods in the recruiting process, like video interviews and realistic job previews are ways that AI contributes to a better candidate experience.
When candidates can get information instantly, they feel more connected to your organization. These positive experiences while applying will increase their desire to work with you even more. Having a chatbot can improve your candidate experience.
What does the future hold?
Artificial Intelligence is changing the game for recruiters. If you’re not adding AI into your recruiting process, or at least considering the possibilities, you’re definitely missing out.
With a number of benefits–like video interviews, automated scheduling–you can begin to test new processes. Learn more about what you and your candidates are looking for during the job hunt and improve the quality of your candidates. Also, focus on your candidate experience, which acts as branding for your organization.
With the right tools, software and programs develop automated process to enhance your hiring pipeline. And don’t forget the consequences and cost of a bad hire.
In the end, recruiting is people’s work. You still have to conduct face-to-face interviews before hiring to really get the feeling if this could be a perfect match, so while AI can help with many parts of recruiting, the human touch remains untouched.
Let recruiters make data driven hiring decision.
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