The involvement of technology in all workplace functions has seen tremendous growth. Organizations see the potential of using these technologies and are starting to invest largely in using automated data engineering for problem-solving, resulting in long term gains for them.
Artificial Intelligence is ruling in all the industry verticals and is presumed to contribute to 16% of the annual productivity by the year 2030. AI can make all the decisions linked to workplace activities and this has made it easy to increase productivity and efficiency of jobs executed.
The recruitment industry is no exception to this shift as AI takes over the recruitment processes. Manually screening resumes, attracting the appropriate applicants and choosing the best people for the job are painstaking and time-sensitive operations that are to be performed by an HR. AI is designed to automate and streamline this process by taking over repetitive and high-volume tasks allowing the HR to focus on functions where personal contact and human judgment is necessary.
Here are a few benefits to employing AI for recruiting:
Automated resume screening
Screening resumes is a tedious, repetitive and time-consuming task and assigning this task over to the machines lets the humans focus on more important tasks that need human contact.
Intelligent screening software automates screening by using predictive analysis to learn previous and existing employees’ skills and behavior and applies this knowledge onto the new applicants to automatically shortlist the strongest candidates who seem to be the best fit for the organization’s requirements.
This software analyzes concrete data points to assess a candidate’s capabilities, which is comparatively more accurate than a human’s assessment as humans tend to depend on an applicant’s self-description, which can be deceptive.
Optimized Hiring Process
Hiring is an extremely sensitive function and it is time-consuming and involves a lot of costs. AI reduces the time spent by recruiters manually digging through resumes and screening them, which in turn makes the interview process much faster without having to sacrifice on the quality of the candidates.
Machine learning also helps create a much more effective hiring funnel. This ensures the right candidates are hired the first time around, reducing costs that are employed in employee turnover and other training related activities.
Recruiters cannot afford to slow down the recruitment process. Creating Chatbots increases the speed of these tasks as chatbots can ask candidates all the initial questions such as past experiences, legal work status, etc. and quickly processes this data to find out if the candidate is qualified or not. If the candidate gets approved at this stage, they can then be scheduled for an interview.
These chatbots are there for the candidates 24/7 to answer their concerns and reduce human interference.
Quality of Candidates
The quality of the candidates depends on the initial applicants. In the initial stage, AI helps formulate an exact description of the qualifications that are required of the applicants, which prevent candidates who are under or overqualified for the job from applying.
Using chatbots in this stage eliminates human bias while selecting the candidates.
AI can scour through candidate databases and various job portals to find the right candidate for the job. By concentrating on the qualities of potential candidates that are required by the organization, AI can recommend people to reach out to.
Additionally, with the use of the right kind of software tools; passive candidates and candidates who have applied in the past for the same position or a different one can be contacted which saves the cost and time required to be put into establishing relationships with new applicants.
Standardized Job Matching
Every company has its own requirement of skill sets and manually searching for candidates online can become overwhelming and it becomes hard to match the right person to the job.
AI simplifies this process. It increases the quality of hire by using existing data to standardize the hiring process and improve the match between a candidate’s experiences and knowledge with the requirements of the job in question.
This is beneficial to organizations by providing the right person for the right job and benefits employees by matching them with the job they are most qualified to perform, which results in increased job satisfaction and productivity in the employees.
Data-Driven Decision Making
Traditional hiring depends on human intuition and judgment which might not be the most accurate evaluation of a situation. AI is essential to identify the areas that require improvement.
- Refine the hiring criteria:
In the data-driven world; HR can benefit from using analytics to give insight into what works and what does not, which makes the decisions made by the HR much more effective and based on actual facts.
- Allocating budget:
The budget must be re-allocated time-after-time by tracking the source or channel of hiring that is observed to give the most positive outcomes. It is essential to determine the source that brings in the most qualified candidates and focus most of the resources in it.
How AI can change the recruiter’s role in an organization
It is believed that AI is the future of recruiting, but Artificial Intelligence does not fully replace human capabilities in an organization as there will be aspects where human contact is necessary.
AI is used to assist and make people more efficient in their performance rather than completely displacing them.
Here’s how a recruiter’s role in the organization has been transformed:
- By using AI to perform repetitive tasks, the HR can focus more on the other important duties within the organization.
- Recruiters will be able to be proactive in their hiring process and prevent the time focused on reactive correcting.
- Recruiters can focus on building quality relationships with the candidates to determine their cultural fitness in the organization.
Artificial Intelligence is revolutionizing the recruitment process and one must discover the possibilities and impact that it can have on this particular aspect of any business. Above mentioned benefits of AI lead to the main goal every organization has, and that is to hire the top talent and maintain their place in the industry.
While it may seem to be complex; once the system is tested, the benefits can be realized.
With the right tools and application, the benefit of AI is made obvious – use of an automated process to improve recruitment, improved quality of applicants and overall development in the of the candidate application experience.
Maria Thomas is a Content Marketing Manager and Product Specialist at GreyCampus with eight years rich experience on professional certification courses like PMP- Project Management Professional, CISSP, Agile & Scrum Master certifications.