How is AI Impacting the Recruiting Sector?
Every age has its scientific discoveries and inventions. But today’s scientific advancements can impact globally in a short time. Such is the progress made in artificial intelligence or AI. AI is, in simple terms, machines and computers learning, thinking and doing what human intelligence does. Instead of doing specific tasks repeatedly, with AI, devices operate from data that we feed them with to recognize human voices, use human language, drive cars or even the ability to suggest the next course of treatment or an article or book you might like to read.
Recruiters often have to spend a large part of their time reading and evaluating every single resume across their desks. And if a job position receives thousands of applications, reviewing all the CVs can take weeks – if not months. According to a survey, nearly 52% of HR professionals said that the most challenging part of their job is identifying suitable candidates from a large pool of applicants. That’s where artificial intelligence can help. Adopting artificial intelligence as a recruitment tool can help the managers with the process’s sourcing, pre-selection and onboarding steps. AI can assist businesses in finding the best applicants by matching portfolios, screening candidates, and automatically generating reports. Data-driven recruiting eliminates manual processing resulting in a more unified, unbiased, cost-effective, and seamless system for the present and future.
AI will help retain existing employees by substantially decreasing their burden and making the hiring experience more rewarding. The outstanding feature of AI is its capacity to anticipate problems and provide relevant solutions. This helps enhance businesses’ appeal on a client and employee level. Artificial intelligence’s future will be when Recruiters often look for specific skills or previous job titles when reviewing resumes and cover letters. The right hiring software can scan these documents and pick out keywords related to the job profile. This feature saves recruiters a tremendous amount of time by freeing them from the tedious task of reviewing each applicant’s resume and cover letter. This new technology has reduced the hiring process, directly impacting our employment rate. Also, this artificial intelligence benefits both employees and employers of the company as it reduces the time and cost of both parties to recruit or recruit the candidates.
- Data from a leading job networking site shows that recruiters can spend up to 23 hours looking over resumes for one successful hire. Increasingly, however, resume scanning is being done by AI-powered programs
- .According to a survey, nearly 67% of HR professionals believe that AI has many benefits and a positive impact on the recruitment process. People think AI will free up the recruiter’s time (44%), provide valuable insights during the recruitment process (41%), and make the recruiter’s job easier (39%).
- Only about 15% of HR professionals believe that humans are irreplaceable and necessary throughout the recruitment process. Also, around 23% think artificial intelligence will replace them in the process and are scared for their job.
- The recruitment process of organizations has been analysed, and a survey conducted in 2021 shows that Over 62% of respondents say that AI will replace some parts of the recruitment process. Still, humans will always do the final stages of hiring.
- 65% of HR managers say the thought of AI in HR does not make them nervous
- According to employers of different companies, 33% of employers expect to do “more human tasks” augmented by AI.
Significance of AI
Organizations have suffered severe adjustments in their working methods as the COVID-19 pandemic continues to affect lives worldwide. Companies are becoming accustomed to the notion of remote working as the majority of their employees operate from their homes. Recruiters will need to rely on digital technologies to overcome the obstacles of remote hiring without sacrificing the quality of their hiring process. To do so, these businesses need to include cognitive technology platforms such as artificial intelligence (AI) into their HR IT stack. AI in recruitment can help companies breathe new life into their remote workers.
AI-based pre-assessment tools assist in determining whether a candidate’s personality and working style are a suitable fit for the company. They have a built-in algorithm that considers numerous criteria such as the candidate’s cultural background, aptitude, soft skills, and potential to succeed in their chosen career path to forecast the quality of AI in recruitment. As recruiting AI goes more mainstream and the market becomes increasingly competitive — with demand for top talent predicted to rise in the wake of the COVID-19 pandemic — Talent Acquisition leaders will need to consider integrating Artificial Intelligence-powered recruiting software to thrive in an environment where working faster and wiser is a requisite.
Artificial intelligence is a boon for all the industries, especially the recruitment industry, and the future of artificial intelligence, which we imagined in an earlier time, is seen now in this new digital era of modernisation competing with all the companies irrespective of domestic or multinationals. Artificial intelligence attribute also attracts many applicants to work with the concerned company.
Why Use Artificial Intelligence?
With the rapid growth of AI (artificial intelligence) technologies like NLP and Machine Learning, a significant shift is happening in various industries, including the recruitment industry. As per Dice’s AI recruitment automation report in 2018, more and more companies are looking to use AI in recruitment. Companies are either using AI recruiting or integrating AI into their recruitment software.
The benefits of artificial intelligence are :
1. Intelligent Recruitment
Artificial Intelligence could help you store resumes systematically over the cloud, where you would be able to maintain your candidate database. It also enables you to search through that candidate database. Recruitment software, like an applicant tracking system (ATS), provides a certain degree of automation.
Similarly, companies can boost the performance of their hiring teams by integrating AI in an applicant tracking system for various other activities like candidate sourcing, video interviewing, and recruitment marketing.
2. Hiring quality gets improved
AI improves the quality of hires. Machine learning learns about the hiring pattern in your organization and helps you identify the most relevant candidates. Typically, candidate applications are processed in the order it is received. It is also true that many resumes or candidate applications are not even screened when the volume is higher than usual. When a recruiter or a hiring manager screens through a heap of resumes, they call the initial matched candidates. They may not go through other applications. If we use AI for candidate screening, then we almost eliminate the chance of leaving out the best candidates.
3. Fill positions Faster
A very common problem in recruitment is that the process lasts too long. The best candidates disappear when they get a job offer from another company that can move faster. Based on a study by Ideal, HR managers say they lose an average of 14 hours a week because they need to complete tasks that could be automated manually. AI can genuinely save you time in different parts of the recruitment process. With recommendations from AI, you can contact the most suitable candidates first and fill the open position faster.
4. Elimination of Gut Feeling
The talk about artificial intelligence in recruitment and how it brings or reduces bias is an ongoing debate. AI in hiring reduces biases. Unlike human recruiters who might subconsciously get biases in their decision-making towards candidates as they read through applicants solely, AI screens the resume “blindly”. Furthermore, AI recruitment software has no prejudices based on candidates’ names, gender, religion etc. These prejudices get killed with artificial intelligence, and the future also brings more advanced.
5. Hire Remote Workers
In the present scenario, sometimes companies don’t have the choice to hire remote workers.No matter what the case is; most companies with remote workers as a part of their workforce are already a big reality. There can be chances when the overall recruitment process is conducted remotely. However, the good thing is that there is an extensive range of AI recruitment software, equipment, and tools, which recruiters can utilize to hire remote workers.
Should AI be Applied?
When we move each day to a new digital world of technological advancements, artificial intelligence helps improve the ease of working in organizations considering all perspectives, such as recruitment, decision making, data analysis, data interpretation, maintaining employee data etc.
But with, some disadvantages impact the mindsets of employees for their organisational working. Following observations have been seen.
- Screening potential candidates
These machines should take a more honest approach than a human interviewer. These machines are supposed to be impartial but use data based on thousands or even millions of decisions made by humans.
- Ignores Resumes That Aren’t Search Engine Optimized
Most job seekers aren’t aware of how AI, or an applicant tracking system, will process their resumes. This challenges the recruiter to miss out on great candidates if the summary isn’t written in the most appropriate format.
The writing process for job adverts and descriptions can be handed over to a machine. However, a human must still check these before signing off and publishing them. Ultimately, an organization should never solely be with machine decision-making. Indeed, a mid-way enabling AI and humans to work together is needed, and these machines shouldn’t be wholly relied upon and trusted.
Using AI in recruitment is neither inherently good nor bad; when human monitoring is removed, it falls short. For now, though, if you plan to invest in AI for recruitment, be sure about the warnings.
AI is changing the way work is done. Although robots can replace people to complete some tasks, there are still a lot of tasks that cannot be done alone by robots that master artificial intelligence. As artificial intelligence enters the field of human work, people have gradually discovered that artificial intelligence is incapable of individual tasks, and the advantage of human beings is to understand the uniqueness and use tools rationally. Artificial intelligence has to speed up the hiring process considerably, dramatically reducing costs and time. The new modernised world will need these technologies to fasten the organisation’s working. Also, artificial intelligence helps the employment rate, speeding up the hiring process and reducing the impact of the organisation’s vacant seats.
- Is Artificial intelligence also known as machine learning?
Artificial intelligence is a technology that enables a machine to simulate human behaviour. Machine learning is a subset of AI that allows a device to learn from past data without explicitly programming.
- Do AI eliminate Hr in organizations?
AI will change the recruiter role through augmented intelligence which will allow recruiters to become more proactive in their hiring, help determine a candidate’s culture fit, and improve their relationships with hiring managers by using data to measure KPIs such as quality of hire.
- Where is AI used for hiring?
It has been identified as one of AI’s ten industries most affected. It is increasingly common for companies to use AI to automate aspects of their hiring process. The hospitality, finance, and tech industries have incorporated AI into their hiring processes.