AI (Artificial Intelligence) has often been accused of posing a persistent threat to human jobs. But do you know that AI help HR managers in recruitment? More often than not, human growth and technological development have gone hand in hand if utilised correctly. Recruitment can make or break an organisation. If AI is implemented judiciously, you will find candidates who will end up being the perfect fit for your company.
If you think that integrating AI for recruitment is a new phenomenon, you will be astounded to find that over 65% of companies already utilise AI for recruitment. You should be rushing to jump on the bandwagon if you have not started utilising AI for recruitment already. Do not fret if you do not know where to start; we have your back.
How and Why AI Can Help In Recruitment Process
If your firm does not keep up with the latest technological changes, it might cease to survive in this cut-throat corporate ecosystem. So, let’s have a look at how and why using AI to hire candidates can help you have the edge over your competitors.
Chatbots accelerate the recruitment process
Many blue-collar job seekers are likely living paycheck to paycheck and will take the first job that comes their way. Unfortunately, this means you cannot afford a lengthy recruitment process caused by the time it takes for human personnel to examine resumes, contact candidates, and respond with updates and responses to their questions.
Indeed, incorporating AI into the initial stages of the hiring process has been shown to boost recruiter’s productivity by 3.7 times, and it has also reduced the cost per hire by 71%.
For instance, AI handles the initial stage of the application process faster than any human recruiter: Chatbots are available to applicants 24×7 to answer mundane queries regarding compensation, vacation, and work schedules, among other things.
The chatbot may also ask candidates all basic mandatory inquiries, such as legal work status, previous experience, and transportation needs, and analyse the information right away. The candidate can then be booked for an interview if they are eligible based on these formal criteria.
Consider how long the same process would take if it were handled by human recruiters, contacting the prospective candidates one by one. However, this is the way to go if your industry is low on workers and you need to hire quickly.
AI can analyse the candidate pool better than humans
Using computerised predictive analytics while hiring often yields better hiring decisions than doing the same via human personnel.
Therefore, investing in excellent personnel to fill human-centric positions will lower employee turnover, save more costs, and increase productivity in the long run. And this is critical, given the high expenses of a failed hire, with 69% of recruitment firms admitting to making a terrible hiring decision based on a flawed interview process in one research.
On the other hand, predictive analytics can analyse data from previous and current employees to find links between the best performance indicators and individual applicants.
Based on this information, the AI can then predict whether a candidate will stay with the company for a long time or not. Humans typically over-qualify candidates based on their self-description, but AI can confirm their skills based on fundamental data points.
By discovering the correct matches online and putting your company’s job prospects in front of them, AI can even be used to get more people to apply for the positions you need to fill.
AI as a recruitment tool eliminates human discrimination
Your Talent Acquisition team members may believe they are aware of any unintended bias, but in the end, people’s ability to be completely unbiased when hiring new employees is flawed.
That’s where AI comes in: Once this technology takes over the pre-interview recruitment process, any decisions influenced by prejudice toward race, age, or gender are eradicated.
A candidate may find that conversing with a chatbot is more productive and pleasant than conversing with another person. The chatbot can collect and provide data in ways that a resume cannot, and it can adapt its responses to the applicant based on data from previous chats, with no conscious or unconscious bias.
Top 3 AI Recruitment Tools to Pick the Perfect Talent
Here are some AI recruitment tools which can help you manage and speed up the recruitment process:
Zoho Recruit
Zoho Recruit, a cloud-based applicant tracking system, offers end-to-end hiring solutions for staffing firms, corporate HR departments, and temporary workers. With the use of chatbots, Zoho’s AI recruiting software helps its clients and enterprises source applicants, review resumes, design process workflows, and engage with candidates in real-time.
Mya
Companies will be able to recruit faster, cut hiring costs, and improve the whole hiring process with the help of Mya, a conversational AI recruiting platform. At scale, it automates candidate interaction and communication. It accomplishes this by converting visitors to applications and talent pools.
Skillate
Skillate is a sophisticated decision-making engine that streamlines and accelerates the recruiting process. It provides intelligent hiring services powered by AI and improved candidate experiences and people analytics. Skillate also allows organisations to hide personal information about candidates to make unbiased hiring judgments.
From being accused of sabotaging human jobs to assisting their Homosapien friend in the recruitment process, it is safe to say that the AI-human relationship has come a long way. Integrating AI for recruitment with proper tools will buy you time and save money.
In the meantime, head over to the CodeQuotient blog for more resourceful articles on hiring, tech interviews, tech career advice, remote hiring and much more.
