Four ways AI will help power recruitment in 2020
- Artificial intelligence (AI) can help you to filter candidates quickly
- You can gain insights into the channels that are delivering your best candidates so you can focus your budget on these
- Candidates can benefit from video interviews too, saving them time and money on travel at earlier stages of the recruitment process
Many people fear AI due to the belief that it is dehumanising the hiring process. What they don’t realise, however, is that AI complements recruitment and can save HR managers and companies two very important fundamentals - time and money. Caroline Gleeson, CEO and Co-founder of Occupop explains four ways AI can achieve this.
I believe AI is the way forward for businesses to develop and prosper in the year ahead. Despite becoming more of a buzzword in the recruitment sphere, AI can assist companies of all sizes, particularly when it comes to the hiring process and achieving business goals.
As the new business year kicks off, businesses across the UK should have no fear in considering AI adoption as rapid advances in technology continue. There are many ways recruitment platforms can help individuals involved in the hiring process.
There are four ways AI can improve recruitment. They are through:
1. Reduction in screening time of candidates
Applicant volume is a key issue in terms of recruitment. Determining the quality of a candidate among a high volume of applicants is time-intensive and costly. AI-powered CV screening can rank and present the most suitable candidates, allowing you to make quick decisions and begin shortlisting the candidates that best meet your criteria.
AI screening tools work by word association. They do not use keyword matching. This means that if you have a job description for a software developer but the candidate’s CV has the word software engineer, the candidate will still receive a score. Similarly, the scoring is not based on word volume, just because the CV has the same word over and over again does not result in a high score.
A common myth about AI screening is that the AI deletes any CVs that don’t meet the criteria. This is not the case for the majority of AI screening tools. The control is still in the business' hands, all that has changed is the order of how the candidates are listed.
2. Improving the candidate experience
The utilisation of AI can not only help hiring managers find the most suitable candidate for a given position. It can also streamline the experience for the candidate. AI-driven digital interview tools like video interviewing can be an ideal first step to help you identify potential candidates.
These tools not only save your time but also the candidates' time as they can complete the interview irrespective of location, creating a better experience for all those involved in the hiring process. These tools can also analyse body language, eye contact and other subtleties that can be important for your screening process, improving time-to-hire and hiring experience for business and candidate alike.
3. Reduced cost to hire
AI-powered functionality can provide businesses with the tools needed to source, screen and hire the best candidates effectively, reducing your reliance on expensive outsourced providers and cutting down on the overall time to hire.
Additionally, AI-driven hiring metrics and recruitment marketing technology provides you with data insights on channel-based analytics and provides recommendations for spend and targeting for future recruitment. These capabilities will allow you to learn from your hiring success (and failures!) and make informed decisions, accessing the best candidates on the most effective channels.
4. Increased employee retention in 2020
Your retention strategy should begin with your recruitment strategy. Investing in AI-powered hiring tools will help you to create a more effective and seamless recruitment process for all involved. AI and other automation technology is very significant to recruitment as it reduces the amount of time spent on administration and allows you to focus on the human side of recruitment, spending time with the candidates to identify the best fit for your business as well as gaining time back to focus on vital retention strategies, such a culture, wellness and learning and development.
Caroline Gleeson is the CEO and co-founder of Occupop. It is an advanced applicant tracking system which utilises AI technology to help HR and Hiring Managers narrow down their candidate search and identify the best potential employees.