5 Insights We Learned Helping SMBs Use AI to Hire the Right People
In one 2019 survey, 73% of recruiters said they expected AI to speed up recruitment times. Over 50% expected it to raise the overall productivity of the recruitment function. Advances in artificial intelligence and machine learning are leading to groundbreaking and impactful changes not only in the area of recruitment but across a whole host of different fields.
From facilitating diversity and inclusion to increasing retention rates, the ways in which AI is improving hiring and recruitment are particularly exciting. As TalentNow continues to help SMBs to make smarter, faster, and better hiring decisions through the use of artificial intelligence, there are several insights that are being gained. This article aims to gather together and share the most surprising and actionable among them.
1. Contributes to a More Diverse Workforce
Diversity in the workforce is something that more and more companies are beginning to identify as a top priority. But it's something that many find difficult to achieve. The application of AI in the sourcing and interview stages of recruitment helps to eliminate cognitive biases and help companies hire in a more diverse way.
2. Streamlines the Hiring Process
By automating various processes within the talent acquisition system, AI can help to speed up and streamline hiring, without compromising on the quality of hires. The use of applicant tracking software and other helpful tools helps to make hiring both an easier and a much faster process.
3. Helps to Identify the Best Candidates
There are many different ways that AI helps to identify the best candidates for specific roles. The removal of cognitive or unconscious bias is just one way it does this.
It can also help to assess culture fit and ensure a candidate's goals align with that of the position and wider organization. It offers a completely impartial way of recruiting, to ensure good candidates don't slip through the cracks at any stage.
4. Improves the Candidate Experience
As much as you want to focus on finding the right employee, a company should also aim to provide a positive recruitment process to each and every applicant. Whether they are successful or not.
Due to a lack of time or resources, this can sometimes be challenging. The application of AI can help to ensure that all candidates receive timely responses, regardless of how they performed, making your company seem more desirable to future potential hires.
5. Decreases Employee Turnover
The recruitment process aims not only to find and hire the best candidates but to hold on to them as well. Because AI helps to find the best fitting candidates and improves the hiring process, new hires are more likely to stay in their jobs for longer. Increased retention rates are positive for a companies image, as well as its success and the success of its employees.
AI and Recruitment for SMBs
Even more so than for multinational corporations, for SMBs, each hire is vitally important. That's why it's so important to get the hiring process right. AI can help SMBs to do so while saving valuable money and manhours.
If you'd like to talk to TalentNow about how AI can help to improve your hiring process, schedule an demo today.