AI recruitment, is a rising technology that can analyze big data fast and estimate the available options. AI technologies are widely being used not just in IT but also in research and development and marketing. It’s of no surprise that enterprises have started using AI recruitment solutions in HR processes; especially recruitment, in an attempt to automate the recruitment process and explore new means of hiring the best talent.
The Rising Need of AI in Recruitment
Artificial Intelligence (AI) is the emerging class of HR technology developed to reduce or even eliminate redundant and tiring recruitment activities such as manual screening of resumes. Screening resumes smartly and efficiently is still one of the biggest challenges in the field of talent acquisition. As indicated in the research conducted by Ideal; an advocate of HR technology and solutions, 52% of the talent acquisition leaders reported the identification of the right candidates out of a huge applicant pool, as the hardest part of the process.
Since recruitment is the function that is constantly under pressure to reduce cost, deliver value and acquire the best talent, Artificial Intelligence (AI) can prove to be a boon to address these challenges and focus on acquiring the right talent time-efficiently.
What is the Role of AI in Recruitment?
Artificial Intelligence (AI) is the science of developing intelligent machines, especially software programs and tools. This technology enables these machines to mimic human abilities and think like humans. Artificial Intelligence (AI) integrates the ability to learn, think and decide within software systems and machines so that they work smartly in diverse situations.
The traditional recruitment process is based on identifying the right candidates out of hundreds, or even thousands of applications. This might take several weeks, leaving both the HR teams and candidates frustrated and uncertain. This is where the AI technology, in the form of AI recruiting software or tool, helps the recruiters to lessen the burden.
The AI recruitment software thrives on huge volumes of data, integrating analytics and virtual assistants to analyze the information and track the trial of all proceedings of an interaction that a potential candidate experienced with the company. The AI software processes the resumes and analyzes them on various parameters to decide if the applicant is the right fit for the position and the company. The software is also savvy in offering algorithms that can test the ability of the applicants in terms of emotional stability, work ethics, and many other intangible factors by providing them with the real tasks that they might be asked to do so once hired.
In terms of job posting, Artificial Intelligence (AI) makes the job posting more qualitative, implying that there is no need for manual effort to constantly update the job postings, as AI can execute the same. The features also ensure that only the right candidates become part of the talent pool. Moreover, the passive candidates who might be a right fit for the company, can be sent messages, thereby encouraging them to apply for a specific job.
Role of AI in Recruitment
- Automation of High-volume Tasks
- Quality Hiring
- Enhanced Employee Experience
- Improved Candidate Screening
- Providing Assistance while Interviewing
- Integration of Analytics
- Targeted Ads
- Chat bots
1. Automation of High-volume Tasks
The best AI-powered solution or software not only automates the part of recruitment workflows but also gets integrated smoothly within existing recruitment systems, so it doesn’t affect the current workflows. In addition, speeding up these areas of recruitment via automation also reduces time-to-hire, implying that recruiters are less likely to lose the right fit to the competitors.
As revealed in the Korn Ferry Global survey, considering responses from almost 800 HR professionals, 63% of recruiters consider Artificial Intelligence as a technology that is radically changing the way recruiting is done today.
2. Quality Hiring
The quality of hire has been a recruitment KPI black box because of the inability to close the data loop, i.e., losing the interaction with the applicant once he or she is hired. As HR data is now easier to gather, access, and analyze, the quality of hire is recruitment’s top KPI.
Artificial Intelligence provides companies with a way to use data to make strategic decisions about their hiring process. It’s not just about using algorithms to analyze resumes, though—it’s about using machine learning to analyze the people who apply for jobs, predict what they’re looking for in their next role, and match them with opportunities that would be a fit.
According to one of the studies published on a blog, the early adopter organizations using AI in recruitment had their screening cost reduced by 75%, revenue per employee increased by 4%, and turnover decreased by 35%.
3. Enhanced Employee Experience
A strong AI program can handle most of the candidate sourcing and contact, ensuring that candidates experience a smooth process.
Recruiter chatbots can answer candidate questions immediately, provide feedback and suggestions on a broad range of topics, and schedule interviews assuring enhanced employee experience and satisfaction.
4. Improved Candidate Screening
AI is a game changer for recruitment. It’s not just about automating the screening process, and it’s about screening better than ever before.
AI can find candidates that might have slipped through the cracks and match them to your job description better than you ever could on your own.
AI-powered applicant tracking systems ensure that high-quality candidates are identified immediately so only qualified individuals are brought in for interviews. And that means less time wasted on candidates who aren’t going to work out anyway.
5. Providing Assistance while Interviewing
The recruiting process is complicated and stressful. Some of the most important moments in the process involve interviewing candidates. Some AI tools enable you to conduct an automated interview before inviting a candidate in for an in-person meeting.
Using a video interview with predetermined questions, you can run an AI software that examines candidates’ facial expressions, tone, and choice of words to determine their suitability for a position. This technology will increase the likelihood that you’ll hire employees who are well-suited to your company culture.
Onboarding is the process of integrating new employees into your organization. It involves training, coaching, and onboarding software. A good AI tool will help you to streamline this process by providing automated training modules that cover topics such as culture fit and company values. You can save time and money by using an AI tool to provide these resources rather than developing them yourself or hiring a third-party provider.
7. Integration of Analytics
By creating the valuable candidates’ insights, the AI software helps recruiters and HR teams to determine new hires based on their skills and put them on the right position to make the most of their talent. This approach not just boosts productivity but also enhances candidate’s skills. AI software gives more accurate results via big data analytics, helping you make more informed decisions.
8. Targeted Ads
AI software could post targeted ads that are seen only by the right people at the right time, based on their online activity history. AI-based software can also analyze the browsing history of applicants to use it for decision-making. Systems of data management processing let you define a target and look for applicants matching your objectives.
9. Chat bots
Chat bots are indeed one of the most promising features of AI technology. Chat bots bring more information to the process and interact with candidates, answering basic queries. Advanced chat bots not just interact with candidates but also scrutinize their responses using Natural Language Processing, which let them evaluate if a candidate demonstrates required skill sets.
Though AI technology is discovering almost all business spheres, recruiters are still uncertain, thinking whether the machines are perfect for this job. Others are concerned about Artificial Intelligence replacing their jobs. Somehow, the latter is right to a certain extent, as machines demonstrate better abilities for doing repetitive tasks than humans.
On the other hand, it is the key reason behind the adoption of AI in recruitment and selection. Nonetheless, it is important to recognize that AI’s role in recruitment will be seen more in the near future. It is one of the most advanced tech trends in HR that completely re-defined recruitment in 2018. HR Managers and recruiters must learn new AI opportunities and adapt swiftly to new market situations.
Frequently Asked Questions
What are the benefits of AI in recruitment?
AI can be beneficial in filtering through candidate profiles and finding those who best fit your company culture. It can also be used to manage to send out job descriptions and receive applications, saving time for both recruiters and applicants.
How does AI affect recruitment?
AI can be applied to the recruitment process—not only to streamline, speed up, and neutralize it but also to lower its cost.
What is the future of AI in recruitment?
AI will continue to grow and develop and become more integrated into the recruitment process. Likely, AI will eventually replace a great deal of human work in this area.
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