The staffing industry has witnessed revolutionary changes in recent times. Thanks to AI in recruitment process, it has become easy to find the near-perfect fit for the right job for a specific cultural and intellectual setting. The smart features of AI such as big data, data analytics, and predictive analytics are making a big difference in the recruitment process. AI in recruitment process is all about using smart tools which can gather, process a humongous amount of data, and present in ways the human mind is capable of doing. According to a report, around 60% of CEOs opine that they find it difficult to find the right talent in the job market. The application of AI tools can reduce this talent gap to a large extent saving the recruiters from a wild goose chase.
For sure smart tools can never overcome human intelligence in determining a person's worth. However, they can assist in finding the right person for the designated position. This is more so true when a hiring agency is running short of resources and time in a dynamic business environment. Artificial Intelligence helps companies to anticipate future needs in terms of Human Resources and can suggest the right candidate who has the potential to adapt to changing circumstances. Over time, it will save companies from making a bad hire and simultaneously reduce the attrition rate.
Who doesn't want a personalized experience? Particularly, when it is a life-changing decision such as choosing a workplace. Chatbots can exactly offer the applicants the kind of experience without having to sacrifice objectivity. According to reports, 50% of companies are planning to employ chatbot conversations for the hiring process than using mobile applications. The intuitive feature lets a company analyze the conversation of a candidate based on a set of parameters and have an idea of what to expect from the person. Hence, thoughtful application of AI in the recruitment process saves companies from losing out on a capable but passive profile.
Machines have been helping companies in choosing the right hire for many years. However, the fundamental question that still remained is, if machines can make human-like decisions. With AI, it is intelligent machines that make calculated decisions using the data of successful people and measure a candidate's relative suitability. Implementing AI algorithms has the potential to land the right prospect in the right position.
Choosing between intuition and data is a catch 22 situation for any organisation. But the fact is that data only helps humans to make better decisions. Yes, data-based hiring is possible as long as it is used as a means and not an end in itself. There are numerous cases wherein companies adopt unique ways to engage the applicants. For example, Unilever's strategy to get insights into a person's profile by making them play a game to start the interaction is a well-known initiative in adopting AI in the recruitment process.
Interviews with pre-recorded questions are used in this format of assessment. The interview is recorded and is analysed for patterns, using AI. The tools used for implementing AI in the recruitment process are of immense help to companies to assess the IQ, confidence level, and authenticity of facts being stated by the candidate. It helps standardize interviews and leaves little scope for HRs to pose biased questions.
Companies often lack the resources to go through every resume. Here is where resume screening software comes to help. With AI-enabled Applicant Tracking System (ATS), the parsing of resumes becomes a smooth process. ATS software is capable of automating the screening, recruiting, and onboarding process. Using ATS software, the data from resumes are extracted to create a unique profile by picking the right qualification, experience, and ranking candidates accordingly.
Any right-minded individual would agree, AI cannot provide the be all end all solution for a process that requires conscious thought. Though this is very much true, the solutions that AI can provide cannot be taken for granted to have the best team on board.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.