Top 4 Benefits of Using AI for Recruiting
We live in a world where artificial intelligence (AI) is applied in almost everything, including the process of recruitment. The use of AI for recruiting is only growing.
In our space, the key is to build lasting relationships. When you’re successful at establishing true relationships with applicants, you can make them look forward to your company’s goals and values. In turn, your new hires will become more invested in the company, giving them a lot of reason to stick around.
However, not all companies are successful in this endeavor.
The process of looking for new people, including establishing connections and retaining them is quite complex. Most companies receive a lot of resumes regularly, in addition to cover letters and recommendations. It can be quite difficult to determine which applicant is suitable for your office environment.
And with the fact that one bad hire can cost your company a staggering $50,000 or more, it’s imperative that you hire the right kind of people.
But imagine this: a technological advancement that allows you to assess people before they’re hired and predicts the success rates of applicants. It’s too good to be true, isn’t it?
But let me tell you this right now: in this day and age, artificial intelligence exists, and it can be used to make the hiring assessments and recruitment process much easier and more effective.
Such technology can perform the many functions of recruitment, including the pre-selection process, resume screening, and interview scheduling. When using AI for recruiting, you can spend more time on the most essential aspects of your company, such as building quality relationships with your best employees.
Adding artificial intelligence to the recruitment process will help you attract the right applicants for the job and make better choices on who fits best to vacant positions.
The Role of AI in Recruitment
In recent years, many articles and blogs have discussed AI and its feasibility in the workforce. AI for recruitment took the industry by storm, resulting in numerous HR conferences to tackle this technology’s benefits in the talent industry. Since artificial intelligence technology is one of today’s latest trends, it’s safe to say that we have so many years worth of enjoying what it can do.
Overestimating the capabilities of AI for improving the traditional recruitment process is a challenge. For example, companies can now make time-consuming and complicated tasks faster and simpler by employing virtual assistance. The future of artificial intelligence is so bright because it allows recruiters to complete unified profiles from monolithic data sets, which effectively matches the right skills needed for a vacant position based on the job profiles of the candidates.
How Artificial Intelligence is Changing Recruiting
First off, low-level tasks can be automated. It provides the HR team with more detailed information, reducing operational costs. Besides automating administrative processes, modern recruitment software has many other benefits. Other recruitment software can also allow recruiters to assess a candidate’s performance before getting hired.
Artificial intelligence startups make way for immediate value, altering the business model we are all used to. The process of recruitment is one area that creates value only for a very specific period of time, hiding some specific challenges for many tech firms. While they are used to unstable revenue streams, this model also means that recruiters will choose to pay per position over using the SaaS model.
By employing the workings of artificial intelligence, companies can now target specific elements when the recruiting needs are high. Additionally, using recruitment software can also help generate revenue.
4 Benefits of Using Artificial Intelligence in Recruitment
1. Automating tasks save time
We cannot stress enough how time is extremely valuable for every business, and the same holds true in the hiring assessments and recruiting industry. It’s possible to estimate the candidate’s skills using the many solutions provided by artificial intelligence. Software based on AI technology only needs a few seconds to analyze an incredible load of data and be able to come up with logical results. This, in turn, saves time, money, and resources.
2. Improved hiring quality
The HR department is responsible for selecting the right people out of many applicants. With artificial intelligence, the whole process can be automated and divided into several phases. To evaluate each candidate more effectively, recruiters can focus on collecting more data on each applicant. There are also many solutions offered by the technology that help in the assessment of experience and skills using special algorithms.
3. Fair decision-making
Regardless of how competent recruitment professionals are in your team, they can still make biased decisions, both consciously and unconsciously. This has become a common problem in many companies, but luckily, artificial intelligence solutions can intervene. Business organizations are given the opportunity to hire only the best applicants that best fit what the available position requires due to the fact that all decisions are made based on the resumes and the information sourced from applicants and in their background checks.
4. Enhanced application of analytics
The recruitment and hiring team can now choose applicants based on their skills in order to assign the right position for them, wherein their skills are used to their full potential. Using this approach will increase productivity in the workplace and at the same time motivate applicants to work on their skills. Additionally, using artificial intelligence recruiting technology has shown to have more accurate results compared to human recruiters.
Applications of Artificial Intelligence in Recruitment
Artificial intelligence has several applications to improve the whole recruitment process, including the ability to create targeted advertisements that are shown to the right audience in the right timing. Using artificial intelligence allows for better analysis of users’ online activity by looking into the browsing history of potential candidates. To put it simply, you will have a way to check what your candidates have searched online and what websites are they known to visit frequently. You can even see which of them have checked out your company website, Facebook page, and other social media accounts.
You can also use chatbots to improve more of your services and be able to talk to candidates and applicants. Advanced chatbots will not only hold a conversation, but they can also analyze the response of people using Natural Language Processing, a type of solution that gives you information of whether or not that particular hire has the skills needed by your company. Bots will also not fail in analyzing resumes and other candidate details in order for you to understand better if indeed one fits a position in your company.
You can also make use of virtual assistants in order to avoid having to do repetitive tasks, such as posting ads for a job opening, choosing candidates, scheduling interviews, and selecting who you think is the best. This results in a lot of time saved, as well as information saved, so you won’t lose whatever details are necessary for the entire hiring process.
Final Thoughts on AI in Recruiting
No matter how advanced and innovative artificial intelligence is, there are still some people who are reluctant to use it. Some people have questioned whether these machines are better than people, going as far to suggest that artificial intelligence will eventually replace them.
The use of AI in recruiting helps hiring managers and HR professionals, not harms. Artificial intelligence is not competition, but a way to increase the value of jobs done by humans.
Hiring assessments and recruiting technology based on artificial intelligence and are a trend that won’t disappear soon. Eventually, the whole world will realize how new opportunities can be derived out of this technology.