How Artificial Intelligence is Impacting Recruiting

  8/28/17    Posted in Business Consulting IT Staff Augmentation News

The digital transformation is rapidly changing the talent acquisition process around the world. Today’s technology makes it possible for organizations to discover new insights, allowing them to transform their recruiting process to be quick, engaging and convenient. Businesses that use artificial intelligence (AI) to blend social, mobile, video and cloud technologies enhance prospective candidate’s experiences, allowing them to attract the top talent.

The Benefits of AI in Recruitment

A digitally enabled process can increase application rates, improve candidate engagement and build the candidate pipeline to shorten the overall time to fill. The digital transformation of talent acquisition is not just about technology automating and streamlining the application and hiring process, but about how companies are adapting and evolving the way that they deliver services.

Many organizations are shifting to a more proactive, consultative model. This approach has recruiters leverage insights and analytics to provide guidance to candidates and hiring managers. The ability to make these immediate recommendations allows a sourcing process to be adjusted or requirements of the position to be changed. This saves time in the process and allows recruiters to consult more strategically with the business.

When devising a new strategy for your business, keep in mind to:

  • Focus on the candidate experience: Offer access to convenient mobile channels to provide a streamlined application process.
  • Conduct research: Educate yourself on the latest technologies available to create an integrated technology strategy that provides a cohesive framework for how they all sync together to create a seamless approach.
  • Create a holistic model: Ensure that resources are aligned, define how roles will be structured, understand specialized skillsets required and identify how hiring managers should interact with candidates.
  • Define actionable insights: Leverage talent analytics to better understand who your organization’s ideal candidates are and attract them.

Adapting to New Recruitment Technologies

Virtually every type of industry worldwide has transformed their business practices in the face of new breakthroughs in connectivity and how people work. Embracing new trends of the digital age will only reach their full effectiveness when a collaborative culture is established. Cross-functional learning and creating spaces for motivated talent to make empowered decisions are vital to embracing new business concepts and technologies in the digital age, like artificial intelligence.

There is a drastic inefficiency due to current manual recruitment tools and processes. From company job boards to applicant tracking systems, developments in artificial intelligence have created solutions to reduce issues and enable easier management of resumes and dealing with job boards that deliver low quality applicants.

Artificial intelligence programs, are increasing in popularity to help automate tasks including reviewing resumes, sending follow up emails, finding potential candidates and filling vacancies.

Chatbots help to improve responsiveness by streamlining the process of seeking jobs and hiring talent. These can communicate with applicants, provide immediate feedback, rank applications and schedule interviews. For example, JobBot plugs into platforms like Craigslist and Indeed to interview applicants as soon as they apply. Responsiveness fosters a positive relationship between candidates and recruiters, allowing for a positive impact on an organization’s customer relationship management.

Chatbots also help prospective candidates. For example, Yodas is a bot that analyzes a person’s skills and asks a series of questions. Based upon the answers, specific jobs listings are recommended to a candidate to apply for.

Over 46% of talent acquisition leaders state that their recruiting teams struggle with finding qualified candidates.

AI for candidate sourcing is technology that searches for data that candidates post online. This information includes things like resumes and professional portfolios. This allows recruiters to identify passive candidates that match specific job requirements. This streamlines the sourcing process because it searches through multiple sources of candidates.

Over 70% of resumes that an organization or recruiter receives are unqualified, which means identifying qualified candidates can be extremely time consuming.

AI for screening is designed to automate the resume screening process. This type of intelligent screening software adds functionality to the ATS by using post-hire data such as performance and turnover to make hiring recommendations for new applicants.

The V-FITT System

VALiNTRY’s proprietary V-FITT system streamlines the hiring process, eliminates unnecessary stress and reduces costs for our clients. Leveraging this technology our team is able to identify the right candidates for your organization that match your specific requirements.

This system has aided us in growing our database with over 2 million unique candidates and acquiring over 6,000 resumes daily. Utilizing V-FITT, on average, our team is able to supply organizations with candidates that fulfill their requirements within 72 hours.

Fueled by artificial intelligence, cloud computing, real time analytics and digital marketing, V-FITT focuses on four types of candidates:

  • Passive: A candidate isn’t looking for a job, but have skills that match requirements for a job posting.
  • Active: A candidate has recently posted their resume on the internet.
  • Interested: A candidate applied to one of our positions.
  • Referral: A current or recent employee of our organization recommends a candidate.

More than 45% of VALiNTRY’s hires come through applications on our website, which is among the best in the industry allowing our team to find your business the best candidates, quickly and easily.

Revolutionizing Recruitment

Experts are predicting that AI will revolutionize recruiting and it has already begun. Tedious and time consuming tasks will become streamlined allowing the recruiter role to become more strategic. Artificial intelligence will help with improved KPIs including higher quality of hires and lower turnover.

Artificial intelligences helps to:

  • Improve efficiency: Recruiters can focus on more important tasks to find candidates more quickly.
  • Remove human biases: Some recruiters can have a bias towards specific, words or even phrases in a resume.
  • Allow recruiters to direct their focus on revenue: Artificial intelligence completes the sourcing and initial contact
  • Offer a better experience: Recruiters can invest more time developing a relationship with candidates

Although many recruiters may have trepidation when it comes to artificial intelligence being incorporated to their roles, it  is important to remember that technology is here to help. There are many types of artificial intelligence technologies that can be leveraged to aid your organization. Determining the best programs to use is dependent upon your specific challenges. When utilized correctly, artificial intelligence can accelerate the hiring process and increase the success of recruiters, just as it has for VALiNTRY. If you’d like to take advantage of our system, contact us today.