Talent acquisition is a streamlined process of identifying, selecting, and retaining qualified individuals. It’s a crucial function of HR management and forms a major part of the employee journey. It’s also one of the most important drivers of a successful business.
AI in recruiting is a form of recruiting technology. It features automation, machine learning, and artificial intelligence capabilities. It is the most recent platform play with radical promise for talent acquisition.
AI recruitment is a major part of HR technology. Integrated with ATS, AI adds a layer of talent intelligence to recruitment processes. They’re designed to screen thousands of resumes.
Many organizations are integrating AI solutions into their recruitment process. The AI solutions speed up hiring processes while ensuring better talent fits. AI is bringing a true revolution to talent acquisition processes in organizations. It ensures several benefits for both organizations and candidates.
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Significance of AI-Driven Tools on Talent Acquisition
1. Speeds up Candidate Sourcing
Recruiters don’t always know everything about the nuance of job requisition language. This is especially so for new recruiters or those recruiting for technical positions. This is where AI comes in.
For the wording of the job requirements, AI can expand the search beyond the exact wording. The search gets expanded to industry-specific language and terms. Unlike a simple word-matching algorithm, AI enables a search by intent.
AI-driven tools can also address the concept of skills adjacency. If a candidate can carry out a certain task, the software can infer the prerequisites of that skill. It’s then able to determine the likelihood of that candidate having different skills. That’s done based on the analysis of millions of data points. So talent acquisition gets facilitated with a wider, more inclusive pool of candidates.
AI can infer skills from prior jobs held or volunteer positions that aren’t stated on the resume.
2. Adds Intelligence to Online Interviewing
Automated online interviews are the best example of AI in recruiting. The practice goes beyond standardizing the interview process. With automated interviews, you get an automated analysis of communication skills for candidates.
AI-driven tools catch the fine points during online video interviews. They pick up body language subtleties like gestures and facial expressions. These are things that HR recruiters can miss or not pay attention to.
AI can also analyze large volumes of data without fatigue. This leads to the emergence of patterns that would get overlooked by HR recruiters. The ability to find correlations in masses of information makes AI-driven tools valuable.
3. Eliminates Bias
HR professionals use AI to cut bias in hiring. An unbiased software application eliminates bias that may lead to discrimination. An AI-driven tool doesn’t get impressed with a beautiful resume layout. Neither does it get underwhelmed by a typo in a resume. The two can influence human decisions.
AI can reduce unconscious bias. A lot of discrimination during hiring gets blamed on that. Unconscious biases are used to process information and make decisions. Everyone is susceptible to this and that’s why it’s important to incorporate the use of AI.
AI reduces unconscious bias in two ways:
- It combines data points using algorithms to make predictions about the best candidates. It assesses data points and the advantage is that its results can get tested and validated.
- It can get programmed to ignore demographic information about candidates. It can also get programmed to ignore details of the names of the schools attended.
AI is trained to find patterns in previous behaviors. This means that any human bias that’s already in the recruiting process can get learned. So a human touch is necessary to ensure AI isn’t replicating existing biases or creating new ones.
4. Adoptive to Remote Hiring
The Covid-19 pandemic has reshaped the entire world, especially how organizations conduct businesses. One of the effects has been the adoption of remote working. This model has kept business going during lock-downs and stay-at-home orders. So talent acquisition teams have adopted hiring candidates from remote locations.
Opening positions to remote workers gives access to a larger talent pool. It also increases the number of candidates an organization gets. Assessing such a large volume manually is such a task, but AI makes it a breeze.
5. Improves Quality of Hire
Quality of hire is one of the most essential KPIs in an organization. It quantifies the effectiveness of the recruitment process to higher productive candidates. To improve this metric, organizations can now rely on AI. This technology allows the matching of candidates with open positions. This gets done based on previously processed data.
AI solutions analyze a candidate’s knowledge, skills, and experience. Which are then compared to the job requirements. This defines a candidate’s suitability for the position. It leads to more successful hires, increases productivity, and reduces employee turnover.
Also, competing organizations are always looking for the same high-skilled candidates. So it’s important to be more agile and quick in reaching for these candidates. Using AI helps to identify top-quality candidates much sooner.
6. Improved Communication with Candidates
As is in hiring processes, communication is key. Candidates expect an immediate response after a job application or an interview. What’s unfortunate is that recruiters get overwhelmed by manual responses to candidates. This is where AI comes in.
AI automates communication by sending emails whenever a candidate applies for a job. It reminds candidates about upcoming interviews or communicates what happened with the position. Thus, hiring managers can offer a superior interviewing experience. As for candidates, they get the much-needed feedback in real-time.
7. Reduced Time and Cost to Hire
In the past, hiring managers would manually screen resumes to identify suitable candidates. This took a lot of time and resources. The slow pace also meant losing talented and active job seekers to competitors.
AI-driven tools come in handy by automating repetitive tasks of assessing resumes. They also help with the short-listing of candidates. This reduces the time taken to hire an individual as it speeds up the process. It also affects the costs of the recruitment process.
Talent acquisition is changing and there are going to be new skill-sets and job roles every year. The more AI recruiting solutions get adopted, the more their performance improves. Like other technologies, there’s no one size fits all approach to choosing the best AI solutions.
There are different AI solutions for every business segment. For that reason, it’s recommended that organizations create a data checklist. This should get done before investing in any AI recruiting solution.
Measuring the success of AI is no different than any other business initiative. It gets back to understanding your objectives and setting measurable goals.