Artificial intelligence seems to be taking up the recruiting world by storm. Which is supposedly one of the toughest issues in the business world. Artificial intelligence has enabled organizations to more readily find and hire the best relevant candidate for the job. A couple of years back hiring the right tech talent was a literal headache. A big challenge to say the least, and a constant security threat for the companies in fear of hiring the wrong (in every sense of the word) person. Al has helped businesses to improve talent acquisition. And it has helped them in tackling their recruiting efficiency and its effectiveness in the best way possible.
Basic AI features:
It’s safe to say that there’s an AI-powered solution for virtually every part of your recruitment feed. Some of the main reasons that why recruiters should encapsulate Al are:
- AI puts an end to the universal bias and its influence. Which is always there in human beings. And since technology is free from bias. It has proven to be the best complementary tool to use in recruiting and sourcing people. As some artificial intelligence recruiting tools have literally claimed to eliminate bias altogether.
- It improves the candidate experience with screening resumes beforehand. Pre-selection processes through visual aids, email correspondence, realistic job previews, colleague testimonials, and interview scheduling have also made the experience a lot easier.
- Provides better information about the candidates by performing all the mandatory tasks beforehand. And hence shares the operational burden with decision makers.
- A virtual assistance is provided to recruiters. Which saves the effort of administration by data backup. i.e., to avoid starting up from the scratch every time a company is up for recruiting process.
- Saves the recruiters from reviewing the flood of resumes once the ad is posted. It does so by putting a filter who instantly identifies the relevant and interviews the best of the best.
That being said, it seems like there’s no stopping to AI. And it’s all ready to become the future of recruiting and sourcing with its different tools and strong algorithm.
Now, let’s quickly move on to the latest advancements in this field. Regarding more compatibility, sustainability, and a better computation process for stakeholders.
Latest advancements in AI that has made a mark in last year:
- An emerging category in recruitment in HR technology, AI, has reduced many time-consuming activities like manually screening resumes. From a large application pool which in prior days was near impossible. 52% of talent acquisition leaders used to say that the hardest part of recruitment is screening candidates from a large application pool. AI has helped to control the overwhelming number of applicants. Which mostly used to get unnoticed as claimed by the recruitment officials.
- AI usually works as a filter among the raw talent. By setting some measures to identify what makes a high-quality candidate. They do this through machine learning, big data, and behavioral pattern recognition. And sometimes do so by getting a bit personal. And reaching out to the candidates through a personalized message to gauge their interest level. This recruitment tool automatically brings the qualified, interested talent directly into your candidate pipeline.
- Next up in the row is the AI-powered assistants – also known as chatbot, in various parts of HR. This is basically to assist companies in engaging with visitors on their websites. Since the sole goal of AI is to provide time-saving recruitment to you. This AI-powered assistant can, among many other options, help you to reduce time to hire and increase the number of candidates who complete the application process.
- We have then, this amazing support from AI that automates all the basic tasks of the recruitment process such as sourcing, screening, and scheduling. This is powered by machine learning and uses natural language processing (NLP) to pick up on details that come up in a conversation. This tool also creates candidate profiles and shortlists applicants. In other words: this recruitment tool promises to be the answer to all your procedural hassle.
- Since for every information we prefer on going to our web browsers, mobile platforms, and social media access. Keeping this in mind AI has not disappointed you. As one of its recruitment tools is to get engaged with candidates via the web, various mobile platforms, and social channels. This AI-powered assistant makes sure that your applicants get regular updates about the status of their application. Moreover, it will constantly give feedback and will always be available to answer questions which make customer experience a lot more satisfactory.
- Last but definitely not the least, in the world of fierce competition of getting the best place among candidates and of getting the right and deserving candidates for companies, a recruitment tool to find the best fit for each position is by far the best advancement feature among the lot. So no more traditional way of hiring which mostly revolves around standardized resumes and (potentially biased) interviewers’ opinions.
What’s expected of AI in coming years:
Since is already decided that Artificial intelligence has taken over the recruitment world more efficiently than human beings. Let’s move on to what should we expect from AI in coming years?
- Next big trend in recruiting seems to be the focus on conversion rates in sourcing. SocialTalent’s latest Global Recruiting Survey found the average recruiter sourced 225 candidates for a single hire, i.e., an overall conversion rate of 0.4%. Top performing recruiters, on the other hand, were 150% more efficient. They sourced 91 candidates on average for one hire for an overall conversion rate of 1.0%. This means that there’s a need for quality over quantity to improve candidate recruiter efficiency.
- Since candidates want immediate, real-time updates and access to information about their job applications. More focus will be given to the better candidate experience. By recruitment chatbot who uses AI to understand a person’s messages and responds via email, SMS, social media profiles like Facebook, messaging apps like Slack, and within specific software like an ATS.
- AI would come to video interviewing. To gauge candidates’ emotional intelligence and truthfulness during video interviews. That too by analyzing facial expressions, word choice, speech rate and vocal tones.
- A new software in Artificial intelligence can also emerge that would help recruiters to predict how likely passive candidates will be to engage in a recruiting discussion.
- With the increasing popularity, business revenue, and right-hand assistance to companies AI cloud services will more readily be adopted even by small startups and businesses in coming years.
Artificial intelligence has so far been mainly the plaything of big tech companies like Amazon, Baidu, Google, and Microsoft, as well as some startups. For many other companies and parts of the economy, AI systems are too expensive and too difficult to implement fully. And even though AI is still a bit far from being able to autonomously decide who the best person is for the job. But it’s definitely a big helping hand to companies for recruiting and sourcing. In fact, studies have shown that humans are notoriously bad at picking the right applicant. And a meta-analysis illustrated that algorithms can outperform human experts in hiring. So basically Artificial Intelligence in recruitment processes is a win-win situation on the whole.
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