Often when people think of AI they imagine humanoid robots, possibly with nefarious intentions. But, that’s just the stuff of sci-fi nightmares. AI is everywhere. Siri? Alexa? They’re a form of AI. Netflix is too. Amazon’s been in the AI game for a long time, specifically the use of their transactional AI, which consistently makes the company a lot of money.
Big companies were quick to embrace AI. But smaller businesses less so, stating finance as the number one reason against adding AI to their workflow.
But the cost for AI isn’t as much as most companies might think. And the benefits it offers make paying for it worthwhile. Particularly when it comes to the recruitment process. AI can improve, simplify and speed up recruitment, giving managers and HR more time to focus on the human aspect of the recruitment process.
Automation of Low-Level Tasks
AI can help HR free up time. The number of hires a company makes can fluctuate in volume. As new job roles are created (particularly in the tech industry) HR recruiting teams are sourcing more candidates than ever before.
AI can help automate time consuming tasks such as resume screening and interview scheduling. When you consider that around 80% of resumes received for a role are not qualified, you can imagine how much time is lost during the screening process.
AI technology can be used to automate a part of your talent sourcing workload, reducing hiring time—which in turn, ensures you don’t lose out on top talent.
Diversity is a major topic of discussion in workrooms across the country. The benefits of a diverse workforce are numerous—it helps with retention, innovation and creativity and increases your staff’s overall skill level.
One challenge diversity hiring continues to face is our own human biases. While most of us work hard to fight against bias, some unconscious bias can come through (regardless of intent). For example, in 2015 the American Economic Association released what was considered a groundbreaking study, that revealed that in the hiring process recruiters were 50% more likely to call back applicants with “white” names.
AI software for recruitment can help by ensuring job adverts include inclusive language, providing pre-employment assessments, AI-powered chatbots and even offer blind hiring.
Improved Quality of Hiring
For a long time, measuring what happened to a candidate after they were hired was a near impossibility. AI recruitment tools are making this more of a reality and in doing so, increasing retention rates.
AI can help improve the overall quality of hiring because it can analyze data collected over a period to help standardize the process of matching a candidate’s experience and skill set against an open position’s requirements.
Improved job matching means sourced and hired talent tends to be happier in their new role, are often more productive, more invested and less likely to quit.
Natural Language Processing
Natural Language Processing (NLP) is a computer’s ability to process and understand written and spoken language. It’s AI listening or reading when a computer interacts with an individual.
HR is often faced with an overwhelming number of job applications. When new positions become available, recruitment can receive 100s and even 1000s of resumes. Going through each resume is arduous and time consuming. NLP speeds up the process.
NLP can be used for text analysis. The most well-known use of text analysis in recruitment is Boolean keyword searches, which are used to identify the best resumes for a position.
NLP offers more than simple keyword searches. It can be used to identify personality traits, classifying and ranking candidates, identifying fraud, and avoiding unconscious biases.
NLP can be used to validate and support the decisions made by HR and managers in the hiring process.
AI Improves the Hiring Process
Despite fears, AI won’t and can’t replace the HR department. It can however, help HR to create a superior and modern recruitment process. The better your recruitment process the more likely it is you’ll find and hire the right (and best) talent for your organization. AI recruitment tools can help you get there.