Digital transformation is becoming essential to stay ahead of the curve. The HR technology landscape has been transformed in a few short years with the advancement ATS, cloud-based systems and gamification increasingly influencing platforms.
AI is the most recent trend to influence the war on talent in the tech sector specifically. In a candidate driven market that is getting more competitive, AI can give companies the edge in securing top talent by:
- Searching out untapped talent
- Speeding up the screening process
- Fairly assessing candidates against skills, behaviours and improving quality
- Guiding you on interview questions/assessment tools
- Improve candidate experience and employer brand position
Want to know more? Read on…
Did you know that only around 20-30% of people are actively searching for a job? Hence the need for recruiters that have access to large databases of candidates not on the market.
What if you could access these potential hires instead? AI can use intelligent searching to scrape candidates’ public social media profiles. It enables vast amounts of data to be gathered and assessed resulting in more candidates being screened and, therefore, increases the likelihood of effective hiring.
Automation can speed up the screening process. The average hire time can take up to 27 days using traditional methods, good candidates are off the market in under 10. Predictive analysis can be used to screen candidates. It scans for key phrases, skills and experience and even lone words relevant to the organisation’s needs. This standardised approach to screening removes unconscious bias that comes naturally to humans whether we mean to or not. Machine learning ultimately ignores people’s backgrounds and names, etc, and focuses on the key skills and behaviours required for the job.
AI can enhance the quality of hire through standardised job matching. The ability to standardise matching between candidates’ knowledge skills and experience and requirements for the job. Resulting in time in a happier, more productive workforce and lower churn rates.
There are screening solutions for CVs and a non-CV approach. Personally, we prefer no CV’s and favour a skill and behaviour based profiling solution.
A positive employer brand is essential in a tight labour market. Therefore, a good candidate experience is vital to spread the word that you value the time people take to apply and show interest in your company. We know feedback often gets missed due to the volume of candidates or the desire to focus on the successful candidates. AI can also assist in the feedback process. AI-powered chatboxes have a lot of potential to improve candidate experience. All applicants will receive feedback providing a positive experience of their first contact with companies. AI is being used to automate FAQs and communication with the applicant allowing HR/Recruiter more time to explore individual needs, desires and fit.
So, what’s the downside? Well, it needs data, can learn bias and there’s scepticism out there.
AI can never fully replace the human element of the hiring process, however, leveraging the advances in AI technologies will ensure companies make the best hiring decisions!
Currently, only 12% of organisations are using AI for recruiting (CEB corporate leadership study). So, there’s lots of scope to get ahead of the competition!
We’re using AI with some of our clients and will be covering this further in our series of ‘Milo Bytes’ events across the South of the UK. Check out our first one on the 12th December. Book here.