AI in Recruitment

Read news on the impact and influence of AI in the Talent Industry

Artificial Intelligence (AI) describes a genre of computing technology that builds solutions to work and act like humans do. Much of the focus of developments is around software algorithms that enable machine learning, although the simpler tasks that humans perform can be authored using traditional machine-to-machine automations, enabled by algorithms. Perhaps the most frequent use of the AI-genre in recruitment is the adoption of software robots to mimic humans in data entry, aggregation, analysis and report dissemination.

Practical examples of recruitment industry uses of AI in the that we built into Simplify VMS

Post jobs to best-fit channels

An ever increasing volume of job applications arrive through job boards and postings published on social media. AI has a role to play in working out the best promotional channels to use to maximize exposure for any given role.

Discover talent direct

Ex-employees and individuals that have previously worked for the organization can be a valuable source of talent for go-forward projects. Use AI in conjunction with your website and social media to promote jobs and source talent direct, allowing you to find talent quickly.

Match candidates to roles

This is arguably one of the most useful applications of AI technology in recruitment, particularly in today’s gig economy where jobs are being often provisioned by the hour, task or project.  Matching might be conducted against CVs, candidate experience, proviso projects completed, education, language skills, location, test scores and social media profile, etc.

Screen candidates

It is estimated that for any single hire, 23 hours are spent sifting through applications. Screening is an extremely time-consuming process, particularly as only one in four CVs satisfy minimum requirements. There is also the case of human bias which can lead to screening out good candidates.  AI enabled screening reduces time-to-hire and can potentially improve the vetting quality by ‘toning out’ inappropriate bias.

Remove bias

Bias in recruiting usually occurs unconsciously. It happens when people either intentionally or unknowingly insert terms into documents or recruitment processes. AI is able to look for sophisticated natural language phrases known to reflect bias.

Perform digital interviews

While not quite there yet, we can expect  future AI to reliably perform online interviews, at least for early rounds. That said, until the technology can be judged reliable, it risks impacting on selection quality and may prove unpopular with candidates and workforce unions. For this reason, we haven’t chosen to adopt it as of yet, but we do see great potential in it.

Improve the quality of hires

AI performs a broader and more sophisticated ‘match’ between applicants and roles; something that recruiters generally don’t have the time or capability to perform. This improvement in job matching is expected to lead to more effective employees who are more likely to stay for the long term.

Simplify workflows

Many customer service tasks in recruiting can be performed by a chatbot. Modern AI-enabled chatbots are extremely intelligent and charming and can appreciate nuances of language. Reduce labor costs in areas of reviewing resumes, scheduling interviews and back-office coordinating activities. This allows to free up the resources for value adding tasks.

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10 Facts about AI in recruitment

1. 52% of Talent Acquisition leaders say the hardest part of recruitment is screening candidates from a large applicant pool.(Ideal)

2. Early adopter companies using AIpowered recruiting software have seen their cost per screen reduced by 75%, their revenue per employee improve by 4%, and their turnover decrease by 35%. (Ideal)

3. 72% of executives believe that this technology will proffer sizeable advantages for enterprise companies in the near future. (Jaxenter

4. According to the survey, talent acquisition professionals are welcoming AI as a tool. Nearly half (48 percent) say big data and AI are making their roles easier, with 40 percent saying the top way it helps is providing valuable insights, and 27 percent saying it has freed up their time. (Kornferry

5. 69% of those surveyed say that using AI as a sourcing tool garners higherquality candidates. (Kornferry

6. 56% said they believe AI may be less biased than human recruiters. (Modernhire

7. 49% believe that AI may improve their chances of getting hired. (Modernhire

8. Early stats show that recruiters who use AI see a 30% reduction in cost-per-hire. (Vervoe

9. Companies that switched to one AI tool saw a 62% increase in female candidates. (Vervoe

10. 24% of businesses have started using AI for their talent acquisition needs, with 56% of managers planning to adopt automated technology in the next twelve months. (Forbes)