Artificial intelligence (AI) is shaking up the recruiting process, changing the way recruiting agencies and sourcers find and hire tech talent.
AI and machine learning enable professionals to quickly analyze huge amounts of data and make decisions and predictions based on that, said Summer Husband, senior director of data science at Randstad Sourceright, in a presentation at the 2017 SourceCon event. Now, recruiters and sourcers are putting AI to work to help define a job posting’s “perfect fit,” better surface strong candidates from search pools, and improve their ability to fill job openings fast.
Unfilled job postings are a significant drain on organizational productivity There are several time-consuming processes within the overall recruitment process, particularly with volume hires. When you have a high number of applicants for each role, having to manually screen through CVs takes up a great deal of your recruitment team’s time.
“On average, every corporate job opening attracts 250 resumes, but only 4 to 6 of these applicants will receive an interview and only one will be extended an offer for the job.”
If a recruiter’s target is to make 10 hires per month, this means that recruiters need to review 2000 CVs to find the right applicants. With the help of AI, the recruitment process will become more automated and integrated with any process that involves pre-hire screening, and then again in the post-hire stage through tracking.
Reducing time to hire will save businesses money too, whether they recruit for roles in-house or have a skilled agency that uses Artificial Intelligence when recruiting, freeing up time for recruitment teams to work on other roles and focus on the brand and candidate experience, and for agencies to spend time preparing and converting the candidates with a better experience.
One of the biggest frustrations candidates face is not hearing back or receiving any communication from a company after applying for a job. For recruiters, it’s nearly impossible to reply to all the candidates that apply for roles, especially in volume hire situations. However, candidates regularly feel as if their CVs are lost, or assume that recruiters can’t be bothered looking at them or replying. As a result, the company’s reputation is on the line, especially with online company review sites like Glassdoor and Peachy Mondays: never underestimate a bad (or great!) review.
We need to match the pace of technological development. Becoming more technologically savvy isn’t just a good idea; it’s imperative if businesses are to stay at the forefront of their industries. The benefits of this effort far outweigh the drawbacks, as the result will be to enable a better and more efficient hiring process driven by real data.Recruiters will find themselves with more time to spend with candidates, ensuring they select the right candidates for the roles they are applying for.
AI isn’t going to replace the recruiters; rather, it will support them in their role. This is the future if recruitment and we should use it to make ourselves work smarter and wiser.