We’re living in the midst of a new industrial revolution, and it’s fundamentally changing how we live and work. This fourth industrial revolution, centering on data and artificial intelligence, has changed the very nature of recruiting.
In fact, according to a Korn Ferry Global survey from last year, 63% of HR professionals said AI has already changed the way recruiting is done today. In this vein, we’re sharing some of the ways businesses today are leveraging artificial intelligence to sift through floods of data and transform their recruiting process.
There are various ways AI-powered tools can increase the quality of applications, ensuing the most suitable candidates flow through your recruitment funnel.
One of the most valuable ways artificial intelligence is doing this is by enabling you to pursue candidates that aren’t entirely active in the jobs market. Consider, a recent CareerBuilder survey found that 86% of the most qualified candidates for your open positions are already employed and not actively seeking a new job. But AI can bring these candidates to your attention before they consider applying for a new job. Thus, you get a head start on recruiting them, increasing your likelihood of hiring the best person for the job.
Figure 1. HR Technologist, “How to Succeed with AI in Recruiting,” 2019
Intelligent recruiting assistants
With ever-evolving candidate needs, as each generation joins the workforce, businesses need to ensure their recruiting processes evolve to keep step.
AI-powered cognitive assistants that use natural language processing and machine learning can interact with candidates as any human recruiter would. With capabilities extending far beyond those of a chatbot, they also learn over time to get smarter about how to best engage with candidates.
These digital assistants reduce administrative burdens to improve the candidate experience, and thus, the retention of new hires. Of their many capabilities, they can answer candidate questions, screen and short list massive pools of applicants, schedule candidate interviews and manage on-boarding tasks.
Moreover, using conversational abilities, they can welcome candidates on the website or jobs page, collect information, like résumés, screen candidates to learn about their qualifications and drivers, and automatically schedule interviews. Rather than replacing recruiters, AI-powered cognitive digital assistants actually enable them to refocus time and energy on higher value activities.
The Candidate Experience
Improving the candidate experience is a primary focus for recruitment this year, and AI in recruiting can help organizations with end-to-end candidate experience management too. With ever-advancing technologies, candidates have more and more ways of interacting with recruiters. This means more and more opportunities to wow them, and on the flipside, equally more ways of driving them away. One way to make a candidate feel prioritized is by personalizing their recruitment process, but this extends far beyond simply having their name in an email subject line.
AI and cognitive technologies can assist with personalizing content, predicting candidate actions, and allowing you to reach out at the exact right time. This way, candidates and prospective candidates feel valued, making them more likely to apply for an opening, or consider an offer. These cutting-edge technologies can also guarantee interview feedback, regardless of the outcome, while also immediately flagging any possible issues (e.g. cancelled appointments, unqualified candidates and missing information). Even when a candidate isn’t a great fit at the time, AI and cognitive technologies ensure that they’ll feel comfortable applying in the future, when they are. Thus, you won’t miss out on a potentially perfect candidate, just because they weren’t qualified in the past.
Ready to revolutionize your recruitment with AI?