Artificial Intelligence is fast establishing itself as a game-changer in the recruiting process, reshaping how recruiters handle, and hire candidates today. More and more companies are empowering recruiters with technology to save time and resources, while improving the quality of candidates and reducing their time to hire.
The biggest issue for recruiters right now is that we all have these massive networks but we haven’t really had an effective way to leverage those connections without committing a significant amount of time and resources. Recruiters can start to recognize pure data points of candidates’ contact information, their profile, their work history, etc. And be able to match those with opportunities. AI does not automatically select the best candidate, instead it narrows the field of search and allows us to focus on analysing the intangibles. From this, a stronger hire is made, leading to a greater R.O.I. Going deeper, on top of quickly sorting through all of this data, Artificial Intelligence will be able to take a broader view of trends in specific industries and even specific job titles. For example, AI could determine that a certain developer has been at their job for a year and a half and there is a, 98% chance that they will leave their job in the next three months. That is a huge insight that can be determined very quickly with AI. There is an enormous R.O.I. for every singular effort that the recruiter makes. Time equals money, and AI will save recruiters unimaginable amounts of time.
Improved quality of hire
Artificial Intelligence can also solve the challenge of connecting people with jobs, for example helping managers find the perfect fit. The length of time new hires stay at the company is the most important metric recruiters use to measure their success. AI can accurately predict if a candidate is in it for the long haul, therefore improving the overall quality of hire.
Shortening up the hiring window
Unfilled job postings are a significant drain on organizational productivity. To ensure the right recruiting resources are being applied to filling a particular job opening.
Accuracy is also important; being able to evaluate the fraction of received information that is relevant and the fraction of relevant information that is received. Algorithms can help sourcing and recruiting professionals make sure they are delivering the right candidates.
Reverse-engineering the ‘perfect fit’
Some forward-thinking recruiters and hiring managers are using AI and machine learning to reverse-engineer candidate fit and to predict a potential candidate’s performance in the role. Ideally, each organization would be able to create algorithms customized for the unique needs of their organizations, taking into account the varying definitions of success.
Artificial intelligence is shaking up the recruiting process, changing the way recruiting agencies and sources discover and hire tech talent and is empowering recruiters today to become smarter and more efficient by reinventing the hiring process to gain a competitive edge in recruiting.