Artificial Intelligence, AI is bringing advancements in all kinds of industries. It is not just automating things but automating it smartly.
According to Deloitte Human Capital Trends research, around 38% of the companies think they will fully implement AI in the next 5 years. Dice, a leading job board in the US has revealed in their Dice recruitment automation report of 2018 that 77% of recruiters believe that they need to leverage AI for recruitment automation.
This indicates the recruitment industry is gearing up for the AI revolution in the recruitment industry. Let’s look at some of the things that are changing with the use of AI in recruitment.
Resume Screening Using AI
A job posting receives an average of 250 resumes for a job position. Almost 80% of such applications are irrelevant to the job position. The recruiter then has to go through the pain of screening every resume to find a bunch of relevant resumes. Even if we do a simple match and assume it takes 1 minute to screen a single resume, it would take 250 minutes to screen all the resumes. That is more than 4 hours. That’s just not the right use of the recruiter’s time.
After resumes are screened by a recruiter, a hiring manager will screen them again to find the most relevant candidates.
Some recruitment software uses keyword-based resume screening. It is very similar to searching candidates on a job board. Keyword-based resume screening is nothing more than just searching. And it produces false-positive results. Meaning, if you are looking for Financial Analysts, the search result will also throw resumes of Data analysts because of the overlapping skills (keywords) between these two job profiles.
Using AI tools and technologies like NLP, machine learning and deep learning, an AI algorithm can understand the context of the resume. It can then learn about the kind of job requirement is. It could also identify the hiring pattern of your organization. All these exercises help AI to identify the most suitable candidates for the job position.
Using AI for candidate screening is extremely helpful while hiring for niche skills or for the latest skills. Problem with niche or modern skills is that a recruiter may not be aware of such skills or may not have enough information about it. AI can be a saver in such cases. For example, if you are hiring for machine learning professionals a recruiter may not understand many things about the job profile considering it is in the swing for the last couple of years. In such a situation, AI can help you identify the best candidates from the lot that matches the requirement.
Using AI for resume screening saves hours of productive time.
Recruiting Conversational Chatbot
Candidate prescreening is a very important stage in the recruitment process. And also recruitment marketing. Recruitment marketing is an approach where recruiters try to reach candidates. Traditionally when a recruiter would find a profile of a candidate on the job board, he or she would send an email to the candidate or call the candidate to talk about job opportunities. This could be seen as both candidate prescreening and recruitment marketing activity. However, this takes away most hours in the day.
A conversational recruiting chatbot solves this problem. A recruiting chatbot can text candidates informing about the job opportunities and can also engage them further to understand their interests. A recruiting chatbot can also prescreen candidates. Many companies have started deploying chatbots on their career page as well.
Just to put an example, a recruiting chatbot can contact 20 candidates and prescreen them in about 3-5 minutes. To do the same a recruiter would end up spending hours.
The use of chatbots is also extended in the on-boarding process. There are always some common questions that new employees will have. A recruiting chatbot can help taking care of such questions. This again helps in saving valuable time.
AI For Video Interviews
There are video interview platforms that can prescreen candidates using video interviews. Such video interviews analyses the body language of the candidate. For example, facial expressions, change in the voice tone, etc.
It also evaluates the answers given by candidates. A video interview could be a good reference document for subsequent interviewers.
How AI For Recruitment Is Implemented
There are few AI-powered recruitment tools. They are solving one problem at a time. Such tools are getting integrated with existing recruiting software to add a layer of intelligence to their existing products. Traditional applicant tracking systems or recruitment software sometimes face technical challenges while integrating. However, new modern online recruitment software is already powered with AI and intuitive design which makes such integrations seamless.
AI For Personalized Communication
Today, AI systems are helpful in learning more about candidates. This helps to get in touch with candidates in a more personalized way. Typically, a candidate generally receives a cold email about the job opportunity. Such emails do not appeal to a candidate. They don’t even look at job opportunities. Rather they just put the email in the trash.
Using AI, it helps you sending more personalized emails or messages. An AI system would learn from the candidate’s social activities and then contact them based on their personality. Data has shown that a personalized email could fetch 40% more responses than a cold email.
AI recruiting software is a new way of automating the recruitment process more intelligently. Many companies have already started investing in modern technology to free up recruiters’ from mundane activities. This would help recruiters focus on what they love the most and that is engaging the right talent.
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