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AI and Talent Aquisition

Posted on May 17th, 2017 by Chris

(This is a summary of the original article from Ji-A Min @ ERE)

AI for recruiting is at the forefront of everybody's thoughts nowadays with a tonne of chat on how it will change recruitment. 

The computerised reasoning for selecting is the up and coming era of programming intended to enhance or mechanise some piece of the recruiting work process. 

The need for better technology: Although hiring is predicted to increase, 66% of talent acquisition leaders state their recruiting teams will stay the same size or even shrink.

The progress in data analytics: As technology becomes quick and cost-effective to collect and analyse vast quantities of data, talent acquisition leaders are frequently asking their recruiting teams to demonstrate a data-based quality of hire metrics such as 'new hires' performance and turnover'.

The developing notoriety of AI for recruitment speaks to energising open doors for recruiters to improve their capacities but at the same time, there's lots of perplexity about how to best use it. 

To help you understand it all, here are the three most promising applications for AI for recruiting. 

1. For high-volume applications, for example, retail and client benefit parts, most enrolling groups simply don't have sufficient energy to physically screen the hundreds to thousands of resumes they get per open part. 

2. AI for resume screening mechanisms a low-esteem, dreary assignment and enables selection representatives to re-concentrate their time on higher esteem needs, for example, talking and drawing in with possibility to evaluate their fit. 

3. Competitor coordinating can be a much greater test than sourcing: 52% of recruitment specialists say the hardest an aspect of their responsibilities is distinguishing the correct hopefuls from an extensive candidate pool. 

Talent marketplaces use matching algorithms to match their pool of candidates to open roles. These marketplaces, for the most part, oblige particular applicant ability sets, for example, programming development or marketing. 

Specialists are foreseeing AI for recruiting will change the game of the recruiter and their role.  As repetitive, time-consuming recruiting tasks become streamlined and automated through AI technology, the recruiter position has the potential to become more strategic. Recruiters who understand how AI will augment their capabilities will realise the benefits of increased efficiency through the hours saved per hire on sourcing, resume screening, and candidate matching.

AI for recruiting promises to free up recruiters' time to engage with candidates to determine fit and pinpoint candidates' needs and desire to persuade them to take the role. HR Departments who make sense of how to best use this new Innovation will be remunerated with enhanced KPIs, for example, higher nature of contact and lower turnover.

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