How AI Technology Can Boost Your Recruitment Strategy
Did you know that artificial intelligence (AI) is predicted to replace a large number of HR jobs during the next decade? What is it about AI that is allowing businesses to grow so quickly?
Artificial intelligence has a bigger impact on business than ever before, affecting practically every industry's business operations. Human resources and recruitment are two areas of the major where AI is aiding businesses across different industries. Read on to learn how AI technology is changing the recruitment process!
Latest Recruiting Trends That Use AI
The atmosphere of recruiting technology is shifting, and AI is quickly becoming a must-have in any recruiter's toolkit. AI has recently demonstrated that it is capable of doing a range of recruiting tasks with ease.
We've put together a list of the top five artificial intelligence (AI) trends that are reshaping the recruitment market scenario:
1. Automated Job Postings
We have observed that AI is used to buy, promote, and optimize job advertisements in programmatic job advertising. These job advertising surface all over the web without human involvement. To measure how the advert will function, the predictive recruitment algorithms look at market statistics and the employer's history of ad tracking. It then makes well-informed recommendations about when and where to post job adverts.
In a nutshell, programmatic job advertising targets the right candidates by displaying the correct job opening at the right moment on the right platform.
2. Job Aggregators
Job aggregators are constantly evolving AI recruitment tools that employ bots and spiders to crawl numerous career portals, social platforms, and online forums to publicize the job advert. To use job aggregators, however, each job listing must have its unique URL.
Once applicants access these job listings, they are led to the listing's original place to submit the job application. Job aggregators are excellent resources for comparing salaries, perks, and job description material with your competitors.
3. Chatbots for Interviews
We have noticed that chatbots are now being used in AI recruiting to pre-screen prospects and schedule interviews. Such chatbots converse with candidates in a human-sounding text format to gather their responses and other important data. They can communicate via chat, email, or text and are sympathetic and assumptive.
The Latest HR Software Systems
Using artificial intelligence, recruitment software assists firms in streamlining or partially automating many aspects of the recruitment process (AI). This involves things like sourcing, filtering, interviewing, handling applicants, connecting with them, cooperating with internal recruitment teams, handling offers, and so on.
We have listed below some of the latest HR software systems:
An ATS(Applicant tracking systems ) software organizes, standardizes, and reports on the whole employment process for an organization. From applicant sourcing to assessment, hiring, and follow-up, the recruitment team can access the entire range of hiring activities in a single dashboard.
Organizations can use the software to track every step of the application and recruitment process from beginning to end. A company that uses an applicant tracking system (ATS) benefits from features such as job vacancies, career website builders, and interview tools, and so on.
Human resources and recruiters have a structured and uniform hiring process thanks to the application tracking system.
Recruiters use a candidate relationship management (CRM) system to actively find candidates by creating talent pools and nurturing them through recruitment marketing. CRM software is frequently used in conjunction with applicant tracking software to build continuing relationships with applicants in your database.
A CRM goes through all past applications for potential matches in the database, whereas applicant tracking systems manage the process of recruiting and hiring for a job. It assists you in emphasizing the candidate experience and increases your company's attractiveness to top applicants by approaching them at the best possible time for the most relevant openings.
Recruitment Marketing Software
Recruitment marketing software concentrates on the two most important aspects of a recruitment strategy: creating compelling job vacancy content and establishing a brand image.
The recruitment marketing software transforms mundane job vacancy material into something more fascinating, intriguing, and exciting.
Talent Rediscovery Software
Applicants who had previously applied for a job at a firm are screened using talent rediscovery software, which uses the ATS resume database. It then determines whether these individuals are a good fit for your available positions.
The technology then approaches those applicants via social media or email after a match is detected. It also looks through their social platforms for relevant job history, which adds to their application form.
The benefits of Using AI in Recruitment
We have outlined the following benefits of employing AI in the hiring process:
1. Saves recruiters time
We see that with each passing year, there's an increase in hiring volume, making manually reviewing resumes the most time-consuming component of the process, especially when the majority of the resumes submitted for a position are unqualified.
By using artificial intelligence in recruiting, recruiters can save time by automating repetitive, time-consuming operations like resume screening, automatically triggering evaluations, and arranging applicant interviews. As an added benefit, you'll be less likely to lose top talent to competitors.
It's built to automate a part of your recruitment process and connect easily with your current recruiting strategy so that it doesn't cause any disruptions.
2. Choosing the best candidate for a position
We all know that recruitment is about finding the best candidate for a position; hence recruiters can utilize AI to uncover crucial prospects throughout the screening process by mapping the qualities and attributes of prior high-performing staff in the same function to locate a match. As a result, recruiters can fill open positions faster and ensure that new hires are committed to their place of work.
3. Increases the hiring quality
One of the most important KPIs in the industry is quality of hire, which measures how effective the hiring process is at identifying and hiring productive employees. Companies can now rely on AI to boost that KPI by accurately matching candidates with available positions based on previously processed data.
An AI solution helps assess a candidate's expertise, abilities, and experiences and match them to job criteria to determine their suitability. The algorithm can deliver accurate assessments of each unique applicant since it has prior experience and has been trained to look for those matches. As a result, more successful hiring is made, resulting in increased productivity and lower staff turnover.
4. Improves diversity and inclusivity
We all understand that making the workplace more diverse and inclusive is a moral duty for all businesses. However, it requires more than excellent intentions to do this. A meaningful diversity and inclusion strategy must address the inherent biases of recruiting processes, which cultural preconceptions and institutional causes may have influenced. Fortunately, AI can assist with this.
Because AI relies on datasets for the recruiting process, it's critical to create them from the ground up to assure a representative sample of the population. This can result in a varied database that ignores gender, race, sexual orientation, or physical appearance.
5. Makes background checks more convenient
Most businesses run a background check on the candidate to discover if the information he provides is accurate. Background checks were, in the old way, a time-consuming and tedious process. However, as artificial intelligence has progressed, the scenario has altered, and the process has accelerated.
Employees benefit from more privacy and fewer biases thanks to AI-powered background checks. Furthermore, it simplifies the process by verifying the candidate's information more swiftly and efficiently.
6. Fully adaptable to remote hiring
Working-from-home culture has grown in popularity in recent years, and companies are always on the lookout for qualified employees to join them. Artificial intelligence tools can save a lot of time by evaluating many applications in a fraction of minutes. Furthermore, because applications will be transmitted digitally, you could immediately direct them to the firm's AI-driven platform for automatic evaluation, thereby saving time and resources.
7. Improves communication with applicants
Communication is crucial during the interviewing process. Applicants expect a prompt answer after applying for a job, doing an interview, and receiving a decision from the employer. Unfortunately, recruiters are often so overworked that interaction degrades due to personally responding to all applicants.
By automating communication at key points in the recruiting pipeline, such as sending emails when an applicant applies, a reminder for a forthcoming interview, or a message describing what transpired with the post, AI can help. As a result, recruiters can provide a better interviewing experience for applicants, and candidates can acquire the information they need to know from a hiring process.
AI and automation are becoming increasingly important in many aspects of recruiting and talent acquisition. The recruitment scene will undoubtedly evolve as the year goes. However, the above-mentioned recruitment trends will continue to hold true for a long time. Having the flexibility and willingness to take on new challenges when it comes to hiring can only help your company grow in the future.
If you're ready to take your recruiting process to the next level, get in touch with Lanteria to learn how we can help you accomplish your hiring goals more quickly.