Think of a typical recruitment process. The HR department places job advertisements. They receive tons of applications, sometimes running into thousands.
The teams must go through all the resumes. It makes it possible for them to narrow down to those they feel may be the best fit.
The potential candidates come in for interviews. In the end, the HR manager makes a decision. The process can be time-consuming and expensive. Whether the applicant will be hired or not will depend on several factors.
Of course, the competency level of the recruit should matter. But there is also the element of bias that can have a big role to play.
The hiring team may leave out the right candidate because of race, sexual orientation, or gender. In the end, the wrong person gets the job.
AI recruitment platforms have transformed the entire process. They save on time and ensure fairness in the hiring. And that’s not all! We will show other benefits of AI for recruitment in our article below.
1. Talent Sourcing With AI Recruiting Platforms
Finding the right talent is critical, yet difficult. That’s why companies spend a lot of money looking for the right people.
Some options they use include advertising, headhunting, or hiring based on referrals. It is expensive and can take a lot of time. And, such tactics will only reach a limited number of people.
An AI recruiting platform looks at factors like competence, experience, and job knowledge to recommend the best talent. The organization gets the right quality of people for the jobs.
The recruiting software also can look for candidates over a wider area. They crawl through databases, career boards, public data, and even social media platforms for recruits.
And now, there are AI talent marketplaces like Boon tech and Occur. AI technologies analyze the experience and skills of experts to determine the best match for job positions.
2. Uncovering Hidden Talent within the Organization
It is common for HR to look outside the organization for talent. Yet, the very people they may be looking for are within. The challenge is they do not go back to see the competency levels of existing employees.
It is an understandable oversight because they hire based on the position staff members apply for. Yet, an employee could have experience in a specific area that could be vacant.
A sales agent could, for instance, have additional skills in marketing. AI recruitment software can identify such information. It uses pattern recognition, data, and natural language processing to gather insights on roles and employees.
The recruiting technology will then match the skill level and jobs. The software then goes a step further to recommend the right job for the individual as per the insights.
It becomes a win-win situation for management and staff. In-house staff members grow in their careers, thus greater motivation.
HR teams save time that they would otherwise spend talking to new people. For the company, happy employees are less likely to leave and are quite productive.
3. AI Recruiting Software Saves Time and Money
Do you know that, on average, it takes between 10-23 days to hire new talent? Other roles can take up to almost 54 days due to extended processes. The reasons for the length of time depend on many factors.
The first is the thorough vetting process that employers undertake for all prospective employees. The organization may also be too stringent in what they are looking for.
Too many people in the interviewing and hiring process can also make the search more difficult. Imagine trying to reach a consensus among so many individuals.
AI recruiting technology will save the organization time and money. Automating the processes removes the need for human intervention. There is higher efficiency in the workflows meaning faster completion of tasks.
Further, the use of algorithms instead of human decisions increases reliability in the matching of candidates to the right job.
4. Overcoming Hiring Bias with AI Recruiting
Every company wants to position itself as one that is inclusive and diverse. But is it possible when relying on humans to hire the right people? The answer is no because of the ugly, yet unavoidable behavior we all know as bias.
Do you know there are more than 10 hiring biases facing prospective candidates every single time they walk into an interview room? Some of these are:
- Affinity or similarity bias that manifests as an unconscious tendency to like or gravitate towards people like you.
- Expectation anchor where the hiring team makes a judgment based on a few factors they deem critical. Think of choosing candidates because of the institution they attended.
- Confirmation bias based on initial impressions or gut feelings
- Halo and horn effect where you create impressions based on how well or badly someone performs in one area. It then prevents you from seeing the bad or good in any other area thereafter.
The sad thing is that it is impossible to completely remove bias when dealing with humans. AI recruiting technology has no such issues.
But whoever develops the programming scripts must ensure total objectivity. After all, the technology is only as effective as the data the organization feeds it.
Quality data will give reliable and high-quality results which are critical for decision making.
Think of some of the biggest challenges recruiters face. Attracting and engaging the right talent to top the list. AI recruiting software is a lifesaver for organizations. The company gets to save time and money that would go into the lengthy hiring process.
The HR teams achieve higher efficiency through automation. Candidate sourcing, selection, and onboarding are easier with the recruiting technologies.
The use of algorithms is critical in the identification and targeting of better-quality candidates. They also help uncover talent right within the organization. Best of all, there is no bias in the hiring process.
Are we saying that AI recruiting software will replace the human contribution in the HR department? The answer is no. But the teams get help with tedious tasks like having to go through tons of applications.
With automation taking care of such time-consuming tasks, the teams can concentrate on other jobs that need their attention.