As the Christmas Tress light up your homes and the jingles of the Christmas carols hums in the back of your mind, yet another year is gone by.
In 2020 with the rise of the COVID-19, both employers and employees were hard hit. As the dawn of the new year shines on your life, it’s time to get back into your game and make the most out of 2021.
If I had to put it in 2 words, the revolution that we have seen in the past decade would be ‘Data’ and ‘Artificial Intelligence’.
The power of data is huge and growing every single day. We have seen its breakthrough potential at work in IT, Healthcare, Insurance, and several other industries. Artificial Intelligence on the other hand with the help of machine learning is going to be the main force driving us — the human race forward in time as we have never seen before.
The question that persists is that of, how do we integrate data and AI to harness and automate the process of recruiting and finding candidates who fit in perfectly with the companies requirement?
52% of Talent Acquisition leaders say the hardest part of recruitment is screening candidates from a large applicant pool.
So this means that recruiters are being tasked to do more with less and in the next few years, finding top talent will depend on the recruiter’s ability to intelligently automate their workflow.
We as humans are driven by emotions, fears, and subconscious biases that hinder our decision making power and for job recruiters, these characteristics may cost them their companies future and reputation.
The battle to attract and retain talent has gained enormous traction in recent years. The low unemployment rate is only part of the picture. Today’s candidates have become much more selective. Increasingly, they are less focused on their salary and are gravitating towards companies that have embraced compelling mission statements, and are more focused on positive impact than on monetary gains.
Recruiters are feeling the crunch to step up their games. Artificial intelligence (AI) technologies have become essential prerequisites for enhancing their recruiting efforts.
- SAVES TIME & MORE EFFICIENT: Screening software takes control by going through candidate applications and choose the relevant ones. It helps save the recruiter’s time which they can utilize in other important places. On average, 500–1000 applicants are rushing for a single position. AI improves the quality of hiring by matching the requirements with very relevant candidate’s profiles. Technology continuously uses past data and matches experience level, skillsets, certifications, cultural fit, keywords. New-age recruiters make use of automation technology to analyze the speech patterns, facial expressions of jobseekers to check on the fitment.
- REMOVES BIAS: The recruiting process has traditionally been laid out with bias. Nearly half (44%) of applicants report having experienced discrimination in the hiring process. Given the fact that companies with diverse workforces perform better financially than their less diverse counterparts, this is especially concerning. AI removes every trace of subconscious bias with the initial screening process. It starts with the most diverse candidate pool possible which gives you the best chance of having a diverse workforce.
- INCREASES ENGAGEMENT & CANDIDATE EXPERIENCE: The hiring and retention of top talent is the lifeblood of all successful companies. AI can be game-changing in terms of empowering recruiters to reach new & more remunerative candidates. Though slowly, the trend is shifting from providing candidates a complex long job application to a two-way conversation. Rather than candidates emailing or calling the HR team, the software reaches out to confirm details and screen them for further process making it quick and engaging. AI technology automation combine with relevant job applications picks up data from multiple candidates’ resumes and does the best match with the Job description which results in a great candidate experience. This can bring a good number of jobseeker data to your website in the future. Candidate experience does matter as it decides if a candidate will accept the offer or not, it will determine the overall company image.