If you ask an employer they will complain about talent shortage while most employees complain about how unhappy are they with their jobs. This affects the efficiency of the staff and business alike. A study by PWC shows an average of 28% of company’s total operating expenses goes to hiring people. And when it’s a wrong hire its money and efforts wasted. Artificial Intelligence in recruitment world is beginning to take shape and changing the way we hire and find jobs. AI is not yet the mainstream but the things are poised to change in not so distant future.
Progressive organization and recruitment agency worldwide are switching to Artificial intelligence to solve hiring problems.
For recruiters, the job of AI is to accelerate hiring, reduce manual tasks and make recruitment team more productive. Recruiters are putting AI to work by surfacing stronger candidates from a large pool of resources to match the job description.
There are many stages of Recruitment process where Artificial intelligence has added enormous value, I have listed down 3main stages where AI is kicking up a storm.
Sourcing & AI
Candidate sourcing is one of the most laborious tasks in the recruitment process. 52% of acquisition leaders and recruiters say the most difficult part of their job is to source the candidate. It is time-consuming, repetitive and most processes are inefficient or ineffective.
While everything which has a potential to improve that needs a repetitive task, sourcing is one area that AI has made an impact. With Machine learning and big data, the software today help automate the recruiting process are learning on their own and getting smarter based on what they’re learning. It has learned to saves your organization time and money and gives recruiters the capacity to conduct more strategic task like dealing with people.
Ideal does a good job in this regard
Even before a recruiter picks up the phone and reaches out to the prospective candidate, the recruitment chatbot can qualify candidates. It can screen and filter by asking custom questions such as:
- If the candidate is actively looking for a job or not?
- If he/she is interested in a particular company or industry?
- What is the reason for a change?
And other technical questions which are pre-requisites to qualify a candidate for the role. It eliminates the guesswork out of reaching to a prospective candidate and targets only the candidates that fit the role and who is willing to explore.
Most chatbot uses natural language processing to understand the text like a human would. It assists recruiters to filter out the candidate who is not interested in what they are offering. This saves time, efforts and help have a meaningful conversation with the right candidate.
Text Recruit is a perfect example
Rediscovery with AI
A recruiter is working on a niche and challenging role for a while only to realize the position has been closed by the competition. The shortlisted candidate was in the database all this while but remain undiscovered. Sounds familiar scenario? If the answer is yes – you are not alone.
The problem is recruiters are sitting on a goldmine of profiles which they have gathered over time but you are unable to use the database optimally. AI infused programmes tend to solve this problem. Machine Learning understands the requirement that recruiter keys in, it reads the database and surfaces all profiles that optimally fit and ranks them according to the relevance. The possibility of missing relevant resumes reduces drastically making recruiters more efficient and potent. It helps to retarget the candidates for the new job opening and reduces the risk of losing the role to the competition.
Restless Bandit makes a good pitch for Talent Rediscover
Tools and processes involving AI will proliferate and as they do, jobs will evolve. I think ‘Robot Process Automation’ is the next big thing, which means everything that can be automated will be automated,” says Jim Stroud, global head of sourcing and recruiting strategy, talent innovation center, Randstad Sourceright, US.
Few of the popular AI platform with Recruitment worth exploring and using.
- Arya. Arya offers automated AI sourcing
- EngageTalent – Sources Passive Candidates
- GoHire. Go hire is a recruiting chatbot
- Jobo the Job Bot A Facebook messenger to help you find your next job.
- Mya. Mya automates the process from resume to hire using AI
- Olivia. Olivia is your recruiting assistant
- Wade and Wendy Wade is a career guide for candidates. Wendy is an AI in-house hiring assistant.
AI is shaking up the recruitment industry and changing it forever. The AI-based tool is becoming mainstream. RPM Jobs is one such venture that has infused artificial intelligence into recruitment. It has developed algorithms based search results for job seekers, Application Tracking System for Job Providers and Marketplace for the recruitment industry facilitators – partners.
Do you have an AI tool or technology that you have either developed or are using in your recruiting and hiring efforts? Leave a comment would love to hear from you.