As human resources professionals, we know recruitment requires a large investment of time and energy. Sourcing and reviewing applications, scheduling interviews, and making hiring decisions— it’s all part of the process.
It’s important to hire the right person for the role as quickly as possible. But it can be a time-consuming process that frustrates job seekers. Artificial Intelligence is already providing a solution. By leveraging AI technologies to source, screen, and select the best candidates faster, we can make the recruiting experience smoother for everyone.
Artificial intelligence and machine learning are revolutionizing industries all over the world, and HR is no exception. With an expected market value to reach $267 billion by 2027 and a projected contribution of $15.7 trillion to the global economy by 2030, it's no wonder AI is gaining widespread attention. It has already been employed in recruitment processes in several ways and can offer plenty of advantages. Big companies all over the world are embracing the power of ai technologies in recruiting. Unilever benefited from a 16% rise in DEI hiring goals while saving an impressive $1M during the same period, and tech giant Amazon has, sometimes controversially, been using AI recruiting technologies for a number of years.
Recruiting teams can benefit from the use of artificial intelligence in a number of ways. Let’s take a look at some of them. Additionally, it's crucial for these teams to effectively track AI tools to ensure their optimal integration and performance throughout the hiring process.
Human recruiters may be influenced by their own personal biases, resulting in discrimination against certain job applicants. A 2021 study conducted by a university in Zurich provided clear evidence of such bias among recruiters. This type of favoritism is more likely to happen when individuals don't belong to the majority group. The study also showed that recruiters tended to demonstrate unconscious human bias more when they were tired, with discrimination increasing as time went on.
As one researcher noted:
"Recruiters are exhausted and maybe, in those hours, they rely more on stereotypes and heuristic decision-making, which leads to more discrimination."
According to multiple studies, AI-assisted recruiters make better hiring decisions the majority of the time. AI recruitment software can be an impartial ally to recruiters, supporting them in reducing discrimination in the hiring process.
Talent acquisition can be hard work, eating up both precious time and money. Did you know that it takes an average of 42 days to fill a position? And with the cost of hiring an employee hovering around $4,129, it's no wonder recruitment can sometimes be a headache for most companies.
But fear not – AI can bring some great attributes to the recruitment process. The automation of repetitive tasks such as screening resumes and candidate matching means recruiters can finally breathe easy. With smart algorithms at work, job postings are swiftly matched with the most relevant resumes without human intervention. This means more time for recruiters to focus on things that matter – like getting to know candidates.
Recruiting tools with AI capabilities make it easier than ever to find the best candidate for any position. Chatbots or virtual assistants mean that candidates get personalized communication and answers to their questions in real time, without waiting. Plus, they can stay up-to-date on the progress of their application whenever they need to. This is like having a helpful mentor right there with them during the recruiting process – creating an individualized experience that caters to each applicant's unique needs. And best of all, these virtual assistants are available 24/7 to offer advice, guidance, and resources at a moment’s notice.
AI-powered recruiting tools can give companies a helpful advantage when it comes to expanding their search for potential candidates. With the power to scan through various online platforms, AI recruiting tools are able to find passive job seekers who might not be actively looking for jobs. Additionally, these tools can analyze a candidate's social media presence in order to gain some insight into their interests and preferences – perfect for learning more about whether or not they align with your company culture. Just be aware that the occasional unicorn might accidentally slip by these powerful tools, so watch out for any unexpected applicants and keep your wits about you.
Artificial intelligence can be a great asset in the recruitment process as it’s able to review lots of data points from resumes, interviews, and assessments to get an idea of how successful applicants will be in the role. This can make it easier for hiring managers to know which candidates to pursue and how to retain top talent. Predictive analytics are an invaluable resource that can help your organization find the right staffing for your team.
Recruiting tools and technologies can help you find your next superstar hire. Innovative job matching tools powered by artificial intelligence, and social media recruiting platforms like Microsoft-owned LinkedIn are great tools to help you search the talent pool and quickly find the best candidate for your business. Meanwhile, Applicant Tracking Systems, video interviewing tools, chatbots, and predictive analytics assist with the hiring process and decision-making.
With these convenient solutions, it's easier than ever to find top talent with the right skills and experience. Let's explore the exciting possibilities that these innovative technologies offer, including the use cases and how they work – plus a few effective ways to make the most of them.
An applicant tracking system (ATS) is one of the most useful tools that companies use to help manage their recruitment process. It allows employers to effortlessly store, organize, and keep track of job applications and resumes electronically, making it simple to review and consider potential candidates for open positions.
The ATS usually follows 4 basic steps:
One of the major advantages of an ATS is that it simplifies the recruitment process by enabling hiring managers to filter applications based on key skills and past job roles. While this can be hugely helpful in identifying the right candidates quickly, there’s a downside. According to Harvard Business Review, 88 percent of recruiters believe an ATS may eliminate some highly-qualified applicants who don't meet all of the job description criteria. This means that potentially great employees could be overlooked, which can also result in issues with diversity in recruiting.
Luckily, there are several methods for tackling these issues to ensure you don’t miss out on the best candidates:
The flair Recruiting app is designed to streamline your entire recruitment process right from career page creation, candidate evaluation, and onboarding – it will save you time and money while ensuring you get the best possible quality of hires.
Video recruiting has quickly become the norm since the pandemic began, and many of us are now used to interviews through Zoom or Google Meet. However, a new generation of AI video interviewing and assessment tools is being adopted in recruitment processes as well.
Interview statistics show that video recruitment is six times faster than phone interviews, plus with the help of interview software and machine learning capabilities, it can be much more effective in finding candidates who have the right skill set for the role and fit company culture compared to solely relying on resume screening.
The use of AI video tools requires some initial learning, but you can help your team get started by following these steps:
To get these tools working perfectly for your team, you may need to make a few tweaks. But don’t worry – the investment you make now can quickly pay off when you start seeing the benefits.
Chatbots and virtual assistants are taking the recruitment process to a whole new level. They offer countless advantages to employers, job seekers, and the HR team alike.
Virtual assistants can answer a variety of requests, while chatbots are programmed to become more specialized for specific tasks. Both these types of conversational AI rely on natural language processing to provide more customized experiences for candidates, giving them a better overall experience with your company.
Automating the more mundane, repetitive tasks is also an excellent way to free up your HR team so they can focus on more important work. This allows them to make sure that each candidate gets the best possible experience.
You’ve likely heard these terms already, but you may not be aware of what they actually mean. Machine learning is like when your phone learns your favorite emojis based on how often you use them. It's a type of artificial intelligence that helps computers improve tasks by learning from experience. Predictive analytics utilizes mathematical and statistical techniques to forecast future events or outcomes by analyzing historical data.
And when it comes to using these technologies in recruitment, it turns out that they can be really beneficial to hiring managers. Here are some ways they can help you find the perfect candidate:
Predictive analytics and machine learning are fabulous resources for recruitment teams to discover top-notch employees and ensure they stick around for the long haul. It's easy to see why these awesome tools have become the go-to for so many companies.
We're excited to have recently introduced our AI Recruiting tool at flair. This innovative solution leverages the power of artificial intelligence to analyze job descriptions and candidate resumes, providing a score from 0-100 to compare match levels. Recruiters can easily identify top prospects from large applicant pools of over 300 through automated screening. Key capabilities of flairAI Recruiting include resume and job parsing, side-by-side comparison of skills to requirements, and integration within Flair's ATS.
As recruiting professionals know, sifting through high volumes of applications can be time-consuming. Our solution aims to streamline initial screening so recruiters can focus their efforts on higher-scoring candidates most likely to excel in open roles. Early adopters of the beta version are already seeing promising results - contact one of our team to learn more.
AI technology is still in its early stages, so it is important to consider the ethical implications of using this technology for recruitment.
AI can be incredibly powerful if used correctly, but since it is created by humans, some biases may show up in the algorithms. For this reason, we must ensure that our recruitment technology is free from discrimination and biases.
When collecting candidate data it's essential that we prioritize privacy and security. In 2022, the Identity Theft Resource Center reported a staggering 422 million cases of data breaches in the US alone. That’s why it’s so important to have strong protection policies for our candidates’ data – so that we can keep it safe and secure. For example, thanks to our partnership with Salesforce, flair benefits from gold-standard data security, including threat detection and encryption.
Additionally, transparency and accountability should be kept in mind when making decisions with AI. This will help us to mitigate potential negative impacts.
Above all, we must not forget that at the end of the day, we are dealing with real people looking for an opportunity. We can use AI to streamline recruitment processes – but only as a starting point. To make sure each candidate gets the attention they deserve, we should take time to get to know them better and really understand why they could be great additions to our team. After all, you might soon be working right alongside them!
Now that you know about all these amazing AI software options, let's talk about how to integrate them into your talent acquisition process. Start by figuring out what challenges and needs your hiring team has, then decide which AI tools will work best and how to integrate them into your hiring workflow.
After that, it'll be time to get everyone in the hiring team up-to-speed on their new tech tools- training is key. Lastly, measure the success of your implementation of recruiting software and its return on investment. There are various ways to measure this, but as a general rule, you'll want to compare the costs of implementing and maintaining the technology to the benefits gained from improved recruitment metrics.
AI presents tremendous opportunities for talent acquisition professionals to streamline their recruitment process and find the best talent more effectively. Its powerful capabilities enable companies to reduce time-to-hire, improve candidate screening, and provide a more personalized candidate experience.
At the same time, we must also be mindful of the ethical challenges posed by AI in recruitment. To ensure a positive and fair experience for everyone involved, it is important to maintain a balance between technology and human recruiters in the recruitment process.
With predictive analytics playing an increasingly significant role in recruitment, the potential of AI to revolutionize the future of recruitment is remarkable. Let's work together to make sure these exciting new opportunities are embraced responsibly and ethically.
The flair Recruiting app is the ideal place to begin leveraging new technology into your recruitment process. Get a glimpse of our powerful technology and AI Recruiting tools and see how it can change your business. Book a demo today!