While AI or Not-to-AI still brings a lot of views to the table, organizations today are demonstrating increasing faith in adoption of AI in HR processes. AI is proving to be an effective accomplice in thewide spectrum of HR, chief being hiring and recruitment.A study on LinkedIn stated that as many as 76 percent of recruiters believed that AI will play a somewhat significant role in the hiring process.
AI-based recruitment is a two-way street - not only does it help the companies find the most suitable candidates but also makes the rightful jobs accessible to candidates quickly and efficiently.
What is AI in Recruitment?
AI can effectively assist in the recruitment process of companies by employing machine-learning and problem-solving to help find the best candidate for a position. The AI-powered softwares and applications are designed to automate and streamlineseveral parts of the recruiting process, specifically those of repetitive and high-volume nature. Thereby, easing the burden of the recruiters at multiple levels. For instance, take manual screening of resumes, AI allows faster screening and flagging of the potential resumes cutting time and effort drastically.
Any area of recruiting where distinct inputs and outputs occur – like screening, sourcing and assessments – will largely become automated.
— Katrina Kibben, Randstad
Going further, imagine the scope of artificial intelligence in pre-employment assessments, video interviewing, or conversational chatbots for example. The past couple of years have shown a significant upward trend in companies employing such technologies to augment their recruitment cycles. The widening scope of work, increasing use of remote workforce and the need to access the best talent pool hasled to this increasing acceptance of AI at work.
Talent acquisition leaders report that their hiring volume is on a rise whereas the size of recruitment teams more or less remains the same. Hand-in-hand with AI, recruiters can achieve more by doing less in shorter periods andat the same time, improve the quality of the hire through standardized job matching and more.
Early adopter companies using AI-powered softwares for recruitment have seen their cost per screen reduced by 75% and their revenue per employee improve by 4%. Such figures substantiate the value AI brings to the table.
Some of the most inventive uses of AI in recruitment can be seen in -
- ☉ Hiring Remote Workforce
- ☉ Automated Candidate Sourcing
- ☉ Candidate Rediscovery
- ☉ Candidate and Job Matching
- ☉ Internal/Employee Referrals
- ☉ Unbiased and Diverse Hiring
- ☉ Customized Employee Value Propositions
- ☉ Natural Language Processing (NLP)
- ☉ Facial Expression Analysis
It’s not all hunky-dory, challenges in use of AI for recruitment continue, like dealing with extensive data, implementation effortsand costs, the ability of AI to learn human biases and so on. The journey so far has been a good one, but the full strength of AI is yet to be explored.
- Posted Date: 20-FEB-2020