Finding the right candidate to fill an open job position has always been a challenging task, and the fact that the monetary cost of a bad hire can reach up to 30% of the employer’s first-year earnings only adds to the pressure.
During the process, you need to ensure that you attract, hire and retain the right talent, so that your company may reap the benefits of having a skilled, engaged and productive workforce, instead of suffering because of bad hiring choices.
Fortunately, with all the advancements it brings, AI has also taken the world of recruitment by storm. Many HR experts now leverage AI-powered tools to help them locate and attract potential candidates, build meaningful relationships with high-profile applicants, and make smarter hire choices.
Here are the four most important ways AI can assist in recruiting talent.
One of the most significant challenges HR departments face is attracting skilled staff, as 87% of HR experts claim that there is a lack of qualified applicants for the positions they are trying to fill.
However, the quality of your job applicants largely depends on the initial candidates you’ve attracted to your job posting.
To get more applications that match your job posting, and fewer of those who are over- or under- qualified, your job description needs to represent what you’re looking for in candidates accurately.
AI-powered tools, such as Textio, can help you come out with a perfect job description that is tailored to address the needs of your potential job candidates.
This AI tool analyzes over 10 million job ads each month. Due to its extensive database, and NLP capabilities, Textio gives you suggestions on how to adjust your job description depending on your industry, and offers you alternatives that better match your target audience.
If you sound better to your target candidates, you’ll attract more high-profile candidates from the talent pool.
Even though we hate to admit it, the recruitment process is always biased. A study has found that people with no facial flaws are more likely to get a job. When certain imperfections exist, the attention of the job interviewers will mostly be focused on these facial differences, instead of on what the candidates are saying.
AI can make the recruitment process unbiased, as it can help you determine objective criteria, and act on these criteria alone when narrowing down choices and making a selection.
Besides, during an interview, AI can spot some other vital characteristics that the human eye can’t easily capture.
For example, in an attempt to find perfect matches for their open positions, Unilever uses neuro-science based games, as well as facial expression analysis to assess their candidates’ personalities and honesty. After the interview, the algorithm comes up with a review of each candidate, making it much easier for the HR department to make a final selection.
The HR department can now successfully use conversational chatbots to engage with candidates during the recruitment phase, and significantly improve their experience with a potential employer.
An AI chatbot can be used to answer candidates’ most common questions, to inform them about the status of their application, and update them on all the recent developments.
Many companies don’t follow up with their top candidates after the interview, which severely damages their reputation and their chances of making the best hires. AI chatbots can be there to keep the communication lines with the top candidates open, showing them respect and increasing your odds that the best talent will choose your company.
When the time for hiring comes, HR chatbots can be there for onboarding purposes, creating consistent HR experience, and significantly improving the employee retention.
Picture Courtesy: Pixabay
The recruitment process usually takes a lot of time, during which some of your best candidates may churn if they get a job offer from another company.
When used for recruiting, AI can help you save significant amounts of time, and make better hiring choices faster. This also takes frustration away, both from your HR department and your candidates.
HR experts can use AI to automate some of the most tedious, menial tasks that consume most of their time. AI tools can go through your past job applicants database, various job boards, platforms, and social media in search of the right candidate. They can also analyze candidates’ resumes and other documentation, determining whether they match the desired set of skills and experience.
Picture Courtesy: Pixabay
Furthermore, you can rest assured AI pays attention to details, so none of the candidates that match the criteria will be neglected just because they didn’t optimize their CVs using the right “keywords.”
Artificial Intelligence can be a real game-changer when it comes to hiring new personnel. If you’re not using some of the tools already, consider the ones that would fit your HR needs the most, and use them to improve your recruitment practices and the quality of your workforce.
About the Author:
Michael has been working in marketing for almost a decade and has worked with a huge range of clients, which has made him knowledgeable on many different subjects.
He has recently rediscovered a passion for writing and hopes to make it a daily habit. You can read more of Michael’s work at Qeedle.