Artificial Intelligence for Recruiting is referring to the use of AI in the talent acquisition process. The program can learn to narrow down your list of requisites to the ideal candidate for the open position. The AI program can also automate most of the tasks that were once manual throughout the recruitment process. This will make the recruitment process seamless from top to bottom as well as more efficient. Now, 38% of all companies use AI in their recruitment process.
Benefits of implementing AI into the recruitment process:
- Saves Time
- Improved Quality of Hire
Implementing artificial intelligence into the recruitment process will save recruiters time and energy when trying to pick the right candidate. It will also save the company time and resources.
On average, a recruiter will:
- save 23 hours per hire
- have no disruption to the workflow
- reduce cost per screen by 75%
An organization, on average, will see:
- 35% decrease in turnover
- 20% increase in performance
- 4% increase in revenue per employee
Now, you can see why artificial intelligence is impacting the recruiting industry so much. These statistics are outstanding and almost enough to persuade companies into using the programs. So, why do only 38% of companies use AI? There are some challenges organizations have to take into consideration
Challenges of utilizing AI for recruitment:
- Huge Amounts of Data is Required
- Can Learn Human Biases
- Skeptics of New Technology
For AI to work properly, it requires a lot of data. For example, AI can learn how to screen resumes just as accurately as a human could. AI requires a lot of data to learn how to mimic a human recruiter. Additionally, AI can learn human biases such as race, gender, or age. Human biases are normally a benefit to AI because it can overlook information that humans cannot. Since AI is trained to find patterns from previous behavior, it can cause it to become just as biased as a human. Furthermore, there are many skeptics when it comes to new technology. Recruiters want to make sure that AI can match them in skill, so it can take some convincing in order to get everyone on board.
Recently, endevis's own Chris Nichols, the host of the Talent Tide Podcast, interviewed Jesse Tinsley, the founder of Job Mobz. Jesse talked about how he thought that automation will take on scheduling responsibilities, not necessarily recruiting roles, during this episode. He says, "When you look at automating a lot of your sourcing and scheduling, I think that is pretty much imminent in the next couple of years." Jesse goes on to say that AI could never take the place fully of a recruiter because there are just some aspects of the job that require a human touch, such as building relationships.
Along the same lines, Humanly is an AI tool that has the power to help recruiters with the interview process, scheduling and screening, engagement, reference checks, and more. The AI program has the ability to capture how the interview was structured, such as what topics the candidate valued the most. It also offers suggestions for how to improve communication between the interviewer and candidate.
In brief, AI has the potential to allow recruiters to be more proactive in hiring. The innovations in AI for recruiting are designed to make a recruiter's life a little easier and make a company's life more profitable. However, there is some doubt and skepticism surrounding the concept of artificial intelligence in recruiting.
A list of examples of AI can be found here.
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