How AI is Transforming Recruitment
Artificial intelligence (AI) is becoming a prominent part of the recruitment industry and with good reason. Utilizing AI solutions, bots, and advanced machine learning tools can drastically cut down time spent on labour-intensive tasks like manual CV screening. It can also lead to better job matching, ensuring the right candidates enter the right jobs. When you consider that 58% of recent hires say their last job lasted no more than two months, it’s clear that more needs to be done to find the right fit for both employers and job seekers. Let’s take a look at how AI and machine learning is being used in the recruitment industry.
Automated Candidate Targeting
Most recruiters use some form of screening while looking for candidates. For example, if an agency is looking for SAP consultants, they might filter prospective CVs for keywords like “SAP”, “SDLC”, “Root Cause Analysis” and “Deployment”. The logic here is simple; candidates without these keywords may lack the relevant experience for the role. Whilst screening works great for narrowing down the potentially long list of applicants, it does have a major limitation. The Recruitment agency can only filter the CVs of those who apply. Think of how many people may be a perfect fit for the role, but weren’t actively looking at the time the job posting was listed. This is where automated candidate targeting comes in. AI can now target job seekers by analyzing their social profiles and past interactions with job listings. An automated message can then be triggered to encourage these people to apply.
Recruitment bots use machine learning and natural language processing to hold intelligence and coherent conversations with applicants. These bots can increase the number of applicants who complete the application process and significantly cut down on the time to hire. Candidates can ask the bot for help or ask for the latest status update on their application.
Advanced Candidate Matching
This goes beyond keywords and uses predictive analytics to determine how successful a candidate would likely be in any given role. The goal here is to match candidates not just on experience, but also on their personality type or likelihood that they will match the company culture.
Looking for new candidates is costly and time-consuming. When you consider that the average cost per hire in the UK is around £3000 with a job interview process of 27.5 days, it’s easy to see how the costs can get out of hand.
Sometimes the perfect candidate has already interacted with the agency in the past and their CV is still on record. AI can be used to continually screen for past candidates.
The employees in an organisation are already engaged with the business and are most likely a good culture fit. AI tools can be used to identify internal talent that will be a good fit for new roles.
Remote Hiring and Video Interviews
Although much of recruitment is now taking place in the digital space, this is especially true for hiring remote workers. There are now tools available that will attempt to eliminate cultural bias, predict candidate personality suitability, and even track eye movements in video interviews to look for cheating.
AI technology is being adopted at a rapid rate in the recruitment industry, and this looks set to continue. As our methods of data collection and analysis continue to advance, we expect to see more powerful applications of AI in recruitment.