How AI-led hiring can reshape future of recruitment
The employment landscape is evolving quickly, and a new era of recruitment has begun with the rise of artificial intelligence (AI) and machine learning (ML). The driving force behind the hiring is now led by AI-based resume evaluations which are revolutionising how businesses evaluate and employ the best candidates for any specific job role.
AI-led hiring examines resumes and evaluates job criteria to match candidates' skills to those requirements using algorithms and natural language processing (NLP). The technology analyses resumes using machine learning to identify patterns and spot trends before using that data to make intelligent talent decisions. This process eliminates the dependence on manual evaluation, further reducing the time and resources spent on resume reviews.
Let’s take a look at some of the benefits of an AI-led hiring process.
Removing hiring bias
According to Gartner, 40% of recruiting managers claim that their most recent recruits left their team no better off in terms of having the skills needed to meet future challenges. Is this a result of human bias and a lack of objectivity in the screening process?
Bias removal in the hiring process is one of the main advantages of AI-driven resume reviews. A unified skills intelligence platform lets you evaluate resumes objectively, allowing you to make data-driven, skills-based decisions, and eliminating the possibility of human biases affecting the hiring process. This is crucial when it comes to hiring for equal opportunities and diversity, as AI-led evaluations help ensure that all candidates are assessed fairly and without prejudice.
Target the right candidates
The objective of any organisation is to attract the most fitting candidate. While there are numerous methods and new techniques to attract candidates, job advertisements remain crucial. However, if the job ad fails to create the right impression, the result can be overwhelming applications that are not suitable, leading to an increased workload and limited quality candidates. Artificial Intelligence can help by offering suggestions on crafting an effective job ad and even generating the ad itself. Chatbots and matching technologies can guide candidates to appropriate job openings and perform the initial screening on behalf of the organisation. With the help of AI chatbots, even hidden roles can be filled efficiently.
AI-driven candidate screening & testing
In the absence of AI, recruiters rely on keywords to sift through a large pool of applicants and there is a possibility that a qualified candidate may be overlooked if they don't incorporate the right keywords in their CV. A candidate doesn't need to have expertise in job seeking to make their application stand out.
With AI-powered resume evaluations, HR can create and add unique questions to assess core skills accurately, such as coding and various programming languages. What’s more, candidates can also be tested on soft skills, such as spoken and written English. These questions can be added to any assessment to evaluate technical, functional, and communication skills.
Reduce time to hire
The recruitment industry faces a major problem with long recruitment processes, which result in the best candidates being lost to competitors with faster processes. To avoid frustration for both the recruiters and candidates, streamlining the recruitment process is crucial. According to Gartner, the time to fill a role has increased by 18% with an additional two weeks to fill a position. By automating manual tasks with AI, HR managers can increase productivity, decrease recruiting workloads, and reduce the number of offer rejections. AI can help save time across different stages of the recruitment process, such as composing texts, evaluating candidates, and communicating with them. With AI recommendations, recruiters can prioritize the most suitable candidates and fill the open position faster. Automating manual tasks in the recruitment process also frees up time for the more important aspect of the job – the people.
Efficient resource spending
AI-led evaluations can help businesses save time and resources by eliminating bottlenecks and allowing recruiters to focus on other critical tasks, such as conducting interviews with the most qualified candidates. AI can analyse resumes and offer more accurate predictions about candidate fit, leading to a quicker and more effective hiring process. AI-driven reviews can also provide valuable insights into the hiring process, allowing recruiters to modify and improve their hiring processes accordingly.
In recent years, there has been a rise of skills intelligence and skills assessment platforms powered by AI, designed to help managers build future-ready and job-fit talent. These platforms offer a comprehensive solution for attracting, engaging, and screening candidates, with a vast library of skills content for conducting 360-degree assessments of candidates' abilities. Such streamlined platforms speed up and enhance the precision of the hiring process, resulting in an accelerated hiring process that empowers recruiters and hiring managers with the skills and intelligence to make intelligent talent decisions.
As we move into 2023, the use of AI in hiring will be viewed as a breakthrough for those, who have relied on the traditional resume-based hiring system for decades. It's time to transition from traditional resume-based hiring to AI-driven hiring, and 2023 presents the perfect opportunity to implement this shift.