AI technology because of its amazing features such as Predictive Analysis and Big Data are making the desirable disruptions in the hiring process for both startups and corporates. Because of tasks like shortlisting the resumes from various recruiting websites, making phone calls, replying to the candidate's queries which are performed by this revolutionary technology, not only saves time by granting more time to managers in meeting their targets but also reduces the cost of hiring candidates.
Did you know around 97% of smartphone users are using AI-powered voice assistants?
This shouldn’t be surprising, as every one of us today is making use of technology to live a simpler, smarter, and highly-interactive lives. According to Creative Strategies, there are only 4% Android users who have never used Google Assistant and 2% of iPhone users who haven’t explored Siri yet.
Now, this is a surprising figure! Being a smartphone user, how can anybody just ignore the incredible voice assistants?
Chatbots or voice bots are nowadays being used in different industries such as Healthcare, Real-estate, customer sales services, and even for recruitment processes.
You must be thinking about how recruitments can be done using AI-powered bots?
Finding the right people to transform innovative ideas of any business into a successful approach is always challenging, and accomplishing this task with limited time and budget makes it even more difficult. Thanks to AI, its latest technology, efficient tools, and predictive algorithms that have made the recruitment process simpler, easier and effective.
How AI-driven Technologies are Revolutionizing the Recruitment Process?
AI technology is loaded with tons of amazing features such as Predictive Analysis and Big Data that are making the desirable disruptions in the hiring process for both startups and corporates. Activities such as shortlisting the resumes from various recruiting websites, making phone calls, replying to the candidates’ queries were once the task for the HR recruiters that have now switched to AI software in most of the digitally transformed organizations. Besides giving assistance to HR recruiters in the preliminary rounds, this decisive technology equally impresses in judging the candidates be it over their psycho-emotional traits or analytical skills. These tasks performed by this revolutionary technology not only saves time by granting more time to managers in meeting their targets but also reduces the cost of hiring candidates.
Benefits of AI-driven Recruitments
Usually, the biggest challenge faced by recruiters is to find the best fit for the organization. The reason being inefficient manual tasks and the lack of right data access using which recruiters can make an informed decision. According to the research conducted by LinkedIn, around 46% of recruiters have acclaimed that finding the right candidate is the biggest hurdle that they face while hiring. To tackle these challenges, several companies have come up with robust solutions that use rapidly emerging technologies to improve and automate various recruitment process be it screening, scheduling, or recruiting. AI-driven recruitment is hyper-responsive to complex metrics, market data, and budget constraints. Some benefits of using AI-driven recruitment:
Automation of tedious manual tasks
Improved quality of candidates
An optimized recruitment process
Better experience for candidates
Less time required to hire candidates
Cost effective hiring
No more ‘talent waste’
Must-have AI-Powered Tools for Recruiters
Big-Data is not an AI-driven technology or tool, however, the truth is AI would not exist without it. Big Data helps in analyzing, aggregating, and correlating vast amounts of data from various sources to find the insights required in the recruitment process. These insights translate into a better decision taken by machines or humans.
Predictive analysis helps to find the patterns in Big Data that might have a negative or positive impact on past outcomes such as application engagement and job ads. It helps to predict future outcomes positively. Once the patterns are determined, HRs can easily create predictive models and enhance their decision-making skills. With these attributes, HRs can also transform hard-coded rules into adaptive logic that deliver better results.
AI enable computers to perform tasks that humans can do such as problem-solving, learning, and complex decision-making. This technology not just simplify and improves different processes and outcomes but also enable HRs to make best decisions. The technology is capable of creating self-learning algorithms for huge scale of data that is difficult for humans to handle.
Machine learning is a subset of AI that is responsible for training machines automatically by applying complex mathematical calculations to find those patterns from Big Data without any human effort. With each iteration, the machine learns about the repetitive patterns and thus creates predictive models for the new data being introduced.
Individually, you may not find these technologies useful for your recruitment process, but, the combination of all these becomes extremely powerful. This is what AI does for recruitment professionals; it improves the way of recruiting talent. It maximizes the outreach and helps recruiters to perform candidates evaluations tasks with perfection.
How AI Improves the Hiring Quality
Improves the Quality of Hire
More than 40% of companies and recruiters give preference to the quality of hire rather focusing on cost and time. AI considers the following factors to improve the quality of hire.
Productivity levels of new hires
Create specific surveys for both new hires and managers assessing the performance
Retention rates and turnover
Reduced Hiring Bias
Eliminating the human hiring bias is the biggest challenge that can easily be removed using AI-powered recruitment software. It not just help in improving the overall recruiting metrics but also eliminate the problematic human flaws that occur during the hiring process. There are several AI-powered software available on the market that allows recruiters to generate interview questions for the candidates according to the job profile. All they need to do is fill some useful details about the job profile and get started.
Reaching the Passive Qualified Candidates
Passive candidates are the ones who aren’t actively looking for new jobs. Reaching such candidates manually is extremely difficult as HRs need to perform various tasks such as search the huge database, outreach, dead-ends, and cold-calling. All these tasks can be automated by using real-time matching technology. AI-powered solutions have the ability to search candidates based on their recent activities on different platforms such as social networks and public resume databases.
How to Choose the Right AI-Recruiting Technology
Choosing the right AI-recruiting software depends on your HR department needs. There is no such one-size-fits-all sort of solution that is apt for every organization. However, you can customize a recruiting tool based on your preference. For instance, some recruiters need software that helps them generate interview questions, assessments focused on the job profile, while others need software that could enable them to search the right candidates from various platforms. There are several AI-powered recruiting software solutions available for:
Data and Reporting
These solutions provide real-time data and reporting facility where you do not have to prepare multiple excel sheets for measuring the true ROI. These solutions offer data transparency that allows you to set better expectations, improves the allocation of your resources so that you fill the open positions fast.
Candidate Classification and Targeting
If you aren’t getting the right candidates even after posting the job every now and then, you need to get a correct solution to classify your job ads based on all the specific requirements to target the right audience. Solutions that feature natural language processing are best to find the right candidate as they convert the entire job info into a data model.
Does your team spend a lot of time on managing job ads on different platforms? If that is the case, you need to look for a programmatic job advertisement solution that features predictive algorithms, automates the entire job description, and sends it to the vast network.
If you gave chaotic communication within teams and departments, it is best to get a solution that eases your communication among different stakeholders. You can also develop a 360-degree software solution program that enables you to get the realistic feedback of the employees who have been hired recently or in a specific time-period. Find out the solution that actually works or else you’ll end up getting results that are not worth for your organization.
Hire an Intelligent AI-Software
The onset of AI has completely modified the way recruitments were being done following costly and time-consuming practices. The AI-powered recruiting solutions not just saves time and money of the organization but also enable recruiters to hire candidates that are the best fit for the open position. The best thing is to hire a company that can design such software to optimize the resources and smoothen your recruitment procedures.