Perhaps the most pressing challenge the organizations face in the present world is how to build on their recruitment processes so that bias is reduced and the candidates are evaluated on their capabilities first then other parameters.
In other words, Diversity and Inclusion (DI) are one of the most crucial challenges, which talent management professionals deal with in the current world.
Talent Management Systems and Artificial Intelligence (AI) Applications!
With AI and machine learning techniques able to resolve most of the basic challenges of any present-day organization, it is time for businesses to shift their focus on them. The AI and machine learning techniques added to talent management systems can help in – identifying, attracting, recruiting, and hiring talent based on their qualifications and skills instead of their gender, color, caste, and any other way that can trigger bias.
According to a report published by Deloitte organizations that made Diversity and Inclusion (DI) an integral part of their businesses, experienced
- About 83% improvement in their ability to innovate
- Approximately 42% surge ineffectiveness of team collaboration
- And about 31% improvement in responses from customer
Another study by the American Sociological Association revealed that the organizations with the highest rates of racial diversity achieved 15 times more than the sales revenues of the companies with had lowest levels.
McKinsey revealed that an organization’s excelling at Diversity and Inclusion (DI) was directly related to higher profitability and value creation. The recent study Delivering Through Diversity by McKinsey stated that organizations in their Q3 for ethnic/cultural diversity on their executive teams were at least 33% more likely to have profitability that would keep them ahead of their peer.
So it is proven that Diversity and Inclusion (DI) is important for the business to be successful. But how do create a recruitment process that was bias-proof and ensured candidates were hired on basis of their capabilities as compared to their color, race, or gender.
AI to Reduce Bias and Help Match the Most Qualified Candidate with Job Description!
With numerous organizations and top management prioritizing diversity and inclusion in the current world, the discussions of senior management teams on how to improve talent management reign supreme.
But there is a gap somewhere!
Not really a gap per se but things didn’t move as fast as they should. Reason: the current talent management systems have not been designed to assess candidates’ capabilities. Instead, the traditional talent management system was designed for candidate compliance.
Not surprising, as the traditional talent management systems relied primarily on manual and siloed methods, which had HR, at the center of the system’s workflows and not the candidates.
Intriguing, is it? Well, keep reading to know more!
Applicant Tracking Systems (ATS) – the traditional talent management systems sorted resumes based on certain SEO keywords and not on the candidates’ capabilities. The ATS was designed to sort millions of resumes, which in turn were then evaluated by either the recruiters or hiring managers utilizing the same biases and decision-making process. The system engrained nothing but biases into the organizations with time.
So then what should be the next steps for talent management professionals to follow to ensure that bias was reduced at the time of hiring and diversity and inclusion was practiced at the most basic level of recruitment as well.
Eightfold.ai – an artificial intelligence-based company – that has taken over the challenge of Diversity and Inclusion and has created a Talent Intelligence Platform. This platform uses ML algorithms as well as models to learn and offer prescriptive suggestions on how the companies can match an applicant with the role advertised.
The platform keeps learning from previous experiences and creates fresh contextual intelligence related to almost every aspect of talent management.
Another way to improve diversity and inclusion in an organization is system integration. It means that as organizations seek to increase HRIS and even HRMS integrations with their data sources across the company, Autonomous Digital Enterprise (ADE) is an intriguing area framework which the organizations can consider to improve on their diversity and inclusion program.
In the end, remember that biases will remain in the hiring decisions – whether conscious or unconscious – however, it will be up to talent management professionals to understand those biases and reduce their negative effect to improve diversity and inclusion in their organization.
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