“On average, each company job opening obtains around 250 resumes. Just four to six of these candidates are invited to an interview or personal meeting, and a single person will receive a job offer. It makes sense to use various career builders and resume screening tools to completely rebuild or improve personal resume and other application documents to fit more perspective careers”, - says Thomas Norton, an HR manager at AI career service.
Go through the list of seven ways AI is changing the recruiting process for better.
1. New business model challenge
As you may know, AI in Human Resources stands for the Artificial Intelligence in recruitment. Once such startup realizes the business model correctly, it has all chances to provide meaningful value to organizations and candidates. The problem is modern customers prefer paying on a per job instead of an ordinary SaaS model (a.k.a. Software as a Service model). AI offers several ways to survive in these conditions offered by the job market. A company can either target segments with high hiring needs or develop a service to distribute recurring value. At the same time, the investing parties should mind a commission-based model. AI helps to switch to a revolutionizing recurring model.
2. Optimization of job descriptions
Most of the companies today experience severe problems with talent matching when it comes to job requirements. While some of them underestimate the skills of modern professionals, others demand more than they can get. Only because you have a new, exciting job opening does not mean the top experts from over the world will flock to your organization. You are wrong! Talent is scarce when it comes to some technical positions. Those are:
- Data Scientist
- Front-End Developer
- Back-End Developer
- Cybersecurity Specialist
- Machine Learner
It is better to start reducing bias and excluding unrealistic requirements from the job descriptions today! The amount of people able to handle hard-to-fill tech jobs is limited, and only those who are aware of the proper talent acquisition will get these experts. Implement innovative recruiting technology, which became available thanks to AI. Such technologies will display the real picture of the accessible talent pool. In most cases, the wisest solution is to:
- Decrease the working experience
- Reduce educational requirements
As the practice shows, the most skilled professionals often have two or even fewer years of experience, and lack degrees from the higher educational institutions. In other situations, they used to study a completely different field.
3. Quicker hiring process
Most of the HR professionals today waste plenty of precious time on reading numerous resumes and interviewing hundreds of applicants per week just to discover they do not fit in the position. The worst thing is that unfilled workplaces cost some money. The hiring process itself is extremely expensive because of the worth of HR specialist, outdated candidate sourcing software, ads, and time. According to the recent research, a modern organization spends $4,000 per applicant on the average. These job recruiting methods include:
- Interviewing
- Scheduling and evaluations
AI assists in transforming HR specialists into the real hiring machines that are able to fill any job with the perfect candidate. Everything from chatbots to the smart AI recruiting software helps to improve the communication between the recruiting manager and HR team. Artificial Intelligence allows trying several scenarios in real-time regime while reducing the efforts of HR department. HR managers that take the best of AI innovations can obtain valuable feedback from company’s CEOs and add that information to the resume matching algorithm to refine the search. It is now possible to reduce the amount of wasted time from several months to a couple of days or even 24 hours!
4. Increased role of emotions
Emotional intelligence and job performance are connected more than you may think, and progressive innovations prove that. The recent survey by Emolytics has shown that clients never come first unless the company takes care of the mental health of its workers. In most cases, organizations with the satisfied employees have the highest customer satisfaction rate. The important role of psychology in Artificial Intelligence does not arouse any doubts. Based on various psychological tests, new AI software are currently venturing into the most intangible traits – emotions that an applicant may have no idea about.
Some companies that apply such programs evaluate candidate's video interviews instead of meeting everyone in-person. More and more tips appear on how to interpret various:
- Actions
- Intents
- Habits
- Mood
- Personality
- Traits
Keep in mind those 6 elements of successful emotional intelligence approach. Checking the voice inflections and different micro-expressions to predetermine candidate’s further behavior and productivity is the future of recruitment.
5. Resume modifications
To specify, tools like an automated resume screener do not modify the applicant’s resume, but rather allow seeing the main points form the first sight instead of going into details and wasting precious time. It prevents the HR team from being experts in search. After all, they should concentrate on the relationships between their employees. Thanks to the progressing recruitment intelligence, special tools will make it possible to leave the entire resume analysis to them in the immediate future. They will define the best candidate not just by the keywords, but some other, smarter criteria. Such technology will save a lot of money.
6. Passive candidates
From CMS recruitment to other types of hiring, it becomes easier to detect experts who would like to change their workplaces.
According to Forbes, the number of passive applicants goes up compared to the active pool. With almost 4% unemployment rate in early 2018, it becomes more challenging to discover the qualified professionals most Information Technologies companies need. AI allows detecting that 80% of the inactive talent pool, which is ready to join the big game. Taking into account individuals change workplaces every couple of years in IT field, ¼ wants to get a new offer. That is what AI helps to see.
It means reduced efforts for the companies that often have to fix resumes and exclude useless information first before getting to the point.
7.Filling the pipeline
It is not effective any longer to stay reactive when it comes to recruiting human resources. It is smarter to have applicants in the pipeline. Who needs to run those ad hoc searches anymore? Smart algorithms will assist in switching to a proactive process of hiring.
So, perhaps, it is time to find new ways to reduce bias and discover more effective approaches to hiring people?
