Artificial Intelligence in the Recruiting Ecosystem
What does this mean for recruiting?
When applicant tracking systems (ATS) barged into the recruiting landscape, it changed the game. It impacted not only the ease with which recruiters could both access and filter data, but also the candidates – with many adapting resume optimization techniques akin to those used in search engine optimization. Recruiters leveraged this technology to make their jobs faster, better, and easier even.
Today, the game stands at the precipice of a seismic change once more – the dominant theme in the Human Resource Ecosystem being Artificial Intelligence (AI).
Sourcing. Screening. Ranking. Matching. One AI Solution.
AI technology is designed to automate some parts of the talent acquisition workflow, especially high-volume or repetitive tasks, but it doesn’t merely linger within administrative tasks. New-generation technology is also touted to eventually generate insights that recruiters wouldn’t normally manage to think of alone via machine learning.
When it comes to sourcing, for example, talent acquisition leaders find common ground in the struggle of their recruiters’ ability to attract qualified candidates in the least possible time.
The existence of AI technology remedies that to a significant degree, utilizing digital footprints in the form of professional portfolios, social media profiles, or resumes even to find passive candidates that align best to your specified job requirements, in a mere fraction of the time of what was earlier done without the use of such technologies.
This extends to resume screening, also – a high-volume task regardless of industry. Intelligent screening is a process that adds machine learning to the ATS functionality, which then utilizes data such as performance, tenure, and turnover rates to recommend candidates in accordance with open-position requirements.
Outdated resumes sitting in the ATS are no longer an issue also; a result of continuous updation by companies in the BI and data analytics.
In 2017, LinkedIn reported recruiters ignored 65% of the resumes received for high-volume roles. This indicated algorithmic flaws in the ATS system of old. Automated Screening moved to not merely screen resumes to find best matches but rank them based on the open role requirement.
This reduced time-to-hire along with a heavy uptick in the quality of candidates. More importantly, it improved candidate experience by allowing recruiters a chance to instantly engage with the most qualified candidates, close rejected candidatures, and maintain contact for future requirements.
Software for Intelligent Screening that serves to automate the resume screening process now represents a massive opportunity for recruiters – a culmination of how it merely integrates with existing applicant tracking systems, leaving candidate workflows untouched and with operational functionalities that require minimal IT support.
But What About Matching?
While initially human intensive, matching algorithms have evolved to analyze multiple sources of data including skills, salary preferences, and personality traits even to assess candidates against open requirements.
Experts predict that AI and its multifaceted functionality is poised to transform the recruiter role; from being administratively stressed or occupied to becoming more strategic. This increased efficiency through dozens of hours saved, intelligently-screened resumes and smart candidate-company matching are expected to save dozens of hours per hire made qualitatively.
A Digital First Impression: Emergence of Recruiter Chatbots
First impressions matter, and considering today’s digitally-driven world, recruiter chatbots are currently under assessment to provide real-time interaction to candidates. This could be in the form of asking questions based on defined job requirements, offering updates, feedback, or even follow-up suggestions.
Considering how candidates prefer staying in the loop throughout the application process, AI-powered chatbots possess the potential to immensely improve candidate experience.
Artificial or Augmented: What is AI?
Recruiting as an ecosystem, and even more so in the sphere of talent acquisition, can never remain people independent. This has led industry experts to believe that the future of AI in recruiting stands as more of an additive benefit than a replacement – Augmented Intelligence. It suggests a path of technology to enhance human efficiency and aptitude.
So, How does AI Push Recruiters into Becoming More Strategic?
- Proactive Strategic Hiring along with Reactive Backfilling
- Increased Speed to market.
- Improved Relationship with candidates, determination of cultural fitment with increased candidate Face-Time.
LinkedIn’s Global Hiring Trends of 2018 featured prominent case studies that displayed the AI benefit in full throttle. This covered Intuit’s implementation to cut hiring time in half, Vodafone’s use of robots to video interview and screen candidates, and Deutsche Telekom AG’s utilization of a chatbot to nurture candidates.
There’s no question about it. AI is the future. But then again, so is the human touch.