There’s a lot of buzz around technology and artificial intelligence (AI) in recruitment these days. Interestingly, organizations nowadays count on technology for a coherent hiring process. Where technology replaces manual tasks and improves efficiency, it is still chugging it’s way through implementation and success. Many companies still adhere to the point of view that technology is just to make the system fancy and that it does more bad than good. Well it is not the case if AI and tech are done right. Many propitious and innovative software tools are brought to practice, which combines AI and tech to beautify the hiring process to complement the end result: a better hire in less time and expenditure!
Various companies are leveraging technology to optimize and streamline their hiring process while others are still in the lane of understanding as they come across challenges like sourcing, screening, assessment, evaluation, and engagement. Let us understand how a combination of AI and tech can help you to carry through the entire process effectively.
AI in recruitment as we are talking about is built to help you remove bias, faster promotion of jobs, better sourcing of candidates, faster screening, effective evaluation, and better engagement with candidates. Now that the core of this tool is data crunching, not only you are getting away from repetitive tasks that save an enormous amount of time but also have a better hold of quantitative and qualitative aspects of hiring. This is achievable through data crunching, metric analysis, and customized reports in split seconds.
AI in recruitment ensures you organize your task funnel in a better way, streamline tasks, analyze effectively to better planning outcomes. Quality of hire is achievable through better sourcing and screening. Many companies declared a 70% plunge in good hires. You don’t want to waste money sourcing flaky candidates. And the bottom line for any organization is to hire the best talent and save money. You need to have a careful look at how you are promoting a job, how it is performing on each channel. Which channel is giving you better results, where to improve. This greatly increases the number of qualified candidates in your pipeline. Once you have done the hard work of accumulating resumes, we move to the screening process which is the core of any hiring process.
This process if not done right, a good candidate can slip through your fingers and it does not matter how rigorous you are in interviews. AI in recruitment reads resumes fast and check which candidate can fit well based on your desired criteria. Results are more accurate as compared to the manual process and you get first-rate candidates to move to the next process where Interviewing effort is judiciously used.
Now that we have a good talent pool, the evaluation process is imperative to succeed. Many companies still follow the traditional process of doing the first round asking the same old questions. The judgment is done by a human through a set of repetitive questions, more about fetching information than judging skills. If one gets to dial 10 numbers a day, efficiency is not the same. Here bias can also be seen based on gender, religion, caste, age, education, etc. AI solutions help you eliminate hiring bias. By leveraging AI pre-employment assessment software, you have the data you need to make hiring decisions based on an applicant’s actual skills and potential instead of just a resume.
There is more to the above. You can use a Video interviewing solution that is able to read body language, semantics, grammar, and speech patterns and can help reveal a wealth of unspoken information about a candidate. All automated and optimized for high-volume hiring. Data-driven evaluation with a human judgment can really speed up the process bringing in great results.
The next very important part is communication, where 65% of companies fail. It is time taking thus avoided. We all tend to agree, time is a precious resource! Candidate demands a better experience in terms of engagement. This reflects on a company’s image. Even if rejected, candidates wish to hear back on time so that they look for other opportunities. Feedback on top would be highly appreciated.
Ease of communication assisted by AI, is highly desirable. It is very important to know where technology can help you make the hiring process convenient. ATS and CRMs make lives easier but to have a full-fledged solution companies must consider a software tool which is a complete suite with AI to enhance the experience of both the recruiters’ and candidates’ experience. In the end, a better recruiter experience also results in better candidate experience!
Talent Acquisition faces the challenges of time, cost, and human bias. For instance, talent sourcing often involves a large pool of candidate applications. AI recruitment intelligently sources to optimize efficiency. Additionally, data extraction through AI reduces human bias and error. Employers increase time connecting with qualified candidates as a result. Use fewer resources for candidate sourcing and screening. Spend more energy on connecting.
1. Talent Acquisition is focused less on formatting and more on content
Recruiters often evaluate resumes by analyzing the who, what, and why. AI recruitment less often misreads a resume or CV. Often, standard systems will reject a misformatted resume. Additionally, data extraction is intuitive and similar to a human. Sourcing is less likely to overlook an atypical resume format from a creative candidate. Talent Acquisition is more focused on content rather than formatting. Job applicants are sourced based on qualifications and job fit as a result.
2. AI recruitment increases the likelihood of selecting a qualified candidate
AI in Talent Acquisition alters the landscape of recruitment. AI saves time when sourcing candidates. A big challenge among 61% of recruiters is candidate sourcing. Intelligent sourcing removes the barriers to finding an experienced applicant. The recruitment process uses a global dataset for higher matching potential. Additionally, resumes are matched to company data to source the most relevant candidate. For instance, interpersonal traits and skills are matched with company culture to find the best fit. AI recruitment also sources equally for qualified candidates. Companies receive numerous resumes a year. Even the best candidates are lost in piles of qualified candidates with diverse backgrounds.
3. Talent Acquisition is more efficient with NLP
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Natural Language Processing (NLP) is used to screen applicants for interpersonal and technical skills. NLP evaluates the content of language through sentiment analysis. Language parsing is used to categorize the content. Content analysis and categorization will best match a candidate based on education and skill sets.AI screening efficiently streamlines and regulates the screening process. Uniformity in the assessment of candidates is beneficial during the initial screening.
AI-empowered recruitment works to improve the recruitment process from both an HR and a candidate standpoint. The workforce continues to evolve, and recruitment practices evolve with it.
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There is no one size fit all approach for hiring future employees but using data to drive your recruitment process always pays off at the end. Your company can have an in-person hiring approach or are comfortable with online processes but the process of perfecting these processes takes time. Feel free to Sign up for Demo to enquire about how we can help you in your hiring process or join our newsletter to stay informed about the latest trends in recruitment trends, employee management strategies, and more.