AI is no longer an alien term in the world of technology. AI seems to have now taken Human Resources and Recruitment by a storm as well. The world is moving fast towards intelligent recruitment. Intelligent recruitment comprises smart candidate discovery, integrated and structured interviews, seamless recruitment and accurate data.
There are 3 main ways AI will change the role of the recruiter:
Recruiters will be able to conduct hiring smartly with a proactive strategy rather than spending most of their time with reactive backfilling and resume screening.
Recruiters will get more time to spend with candidates in-person to build relationships and help determine culture fit.
Recruiters will be able to present accurate data and figures to hiring managers, as AI allows them to use analytical data to present recruiting KPI’s, including quality of hire.
According to a survey, almost 60% of recruiters want an improvement in their process of identifying the right candidates and reduce the time spent in scanning resumes. More than 40% want to reduce the level of in competencies while hiring.
Clearly, all very good reasons to support the adoption of AI by recruiting and hiring managers. Let us also look into some of the benefits that you can expect when employing AI in your recruitment process.
Benefits of AI in Recruitment
- Saves time
Using AI, the most repetitive, tedious and time-consuming tasks can be automated. AI for recruiting is an emerging category of HR technology designed to eliminate time-consuming activities like manually screening resumes and sending acknowledgment and status emails, etc.
This eliminates a big problem, as 52% of recruiters believe that screening the right candidates from a pool of candidates is the most time-consuming part of their job. This clearly implies that the experts agree that this is not a task that can be done with human power alone. Other applications of AI, which will help make the recruitment efficient and faster include sourcing, pre-selection, and onboarding, solving candidate queries, setting up interviews, etc.
- Help find the most matching profiles
AI can help make predictions based on people’s online presence, such as their social media profiles and public data. Say for example, what roles a person might be interested in and how likely a person is to accept a job.
By combining all the available information, AI can help decipher which candidates might be interested in certain roles and direct relevant job adverts at them.
- Eliminates bias from the hiring process
For hiring to be absolutely bias-free we would like the hiring manager’s judgement to be not clouded by any pre-existing notions or bias. This empowers recruiters and hiring managers to make data-driven hiring decisions rather than decisions based on their intuition or gut feeling.
- Improves the quality of hire AI assists in improving the quality of hire lie in its ability to use data to standardize the matching between candidates’ experience, knowledge, and skills and the requirements of the job. This perfection in job matching is predicted to lead to satisfied and more productive employees who are less likely to turnover.
- Improves candidate experience
AI-powered chatbots have great potential to improve the candidate experience. AI can guide the candidate through the entire recruitment process more efficiently than humans for most commonly asked questions, and can get instant answers right when they need them.
Additionally, AI(Chatbots) never takes a day off, which means they are available 24X7 to answer candidate queries.
- Enhance the overall hiring process
58% of job seekers say they have a negative impression of a company if they didn’t hear back from the company after applying, whereas 67% of job seekers have a positive impression of a company if they receive consistent updates throughout the application process.
Apart from making the overall hiring process smooth, AI can help you automate responses to candidates based on their selection or rejection status.
- Helps Build an Employer Brand
Today, every company is online, showcasing their jobs as stridently as possible. This creates the need for a solid Employer Brand even more important. The key value of a strong employer reputation is your ability to attract passive candidates that can make game-changing hires. According to a study, 84% of candidates would consider leaving their current company if another company, with an excellent reputation, offered them a job. Hence, if talent attraction is a priority for your organization, AI will help you greatly in brand creation and promotion.
The way organizations engage and nurture candidates is perhaps the most neglected part of the recruiting process. If you are interested in treating candidates like customers and building a pipeline of candidates ready for when you have roles to fill, then this should be a serious consideration.
When you are prepared to make a move, sit down with your team and discuss the different areas you might need to change to make sure you are fully prepared for the switch.
The application of AI in recruitment has tremendous benefits, however, there are potential pitfalls too.
- First, AI requires huge data to learn how to correctly mimic human intelligence. For instance, AI needs a lot of data to learn how to screen resumes as fittingly as a human recruiter. This can even extend to several hundreds to several thousands of resumes for a specific role.
- Humans are inherently creative whereas AI can generate data-centric insights only.
- Human qualities such as emotion, empathy, and contextual understanding are still almost impossible to replace with any AI technology. Hiring and interviewing is a collaborative process to find your next best future employee hence a team of humans and machines is what you need to make it successful and efficient.
Considering the benefits and popularity of AI, we believe it is safe to say that AI in recruitment and HR can be seen as the most recent trend to dominate the space in the years to come.
AI is rapidly changing the recruitment industry. There are many AI-powered solutions available for virtually every part of the recruitment funnel. We can say with certainty that AI is impacting recruitment in the right way. Not because AI will replace the staff in your organization, perhaps it will free up their time to do more important things that require human touch.
You can develop an automated recruitment process that will improve your quality of hire, your candidate experience and most importantly the working lives of your recruiting team.
In the future, success in staffing will depend on a recruiter’s ability to intelligently automate their entire hiring workflow and process. Now is a time for human and machine collaboration in recruiting. Stay tuned for more!