Artificial Intelligence software is about to revolutionize the recruitment and hiring process. Discover how the recruitment industry will change and whether AI tools will displace traditional HR managers
A commonly held misconception is that Artificial Intelligence is a threat to humans. In fact, the primary purpose of AI is to facilitate repetitive tasks that so many employees have to do at work. AI tools are now literally used in all major industries, from Email Marketing to Healthcare and Retail Trade. The benefits of artificial intelligence are numerous and generally allow businesses to progress much more quickly and deliver better results. However, besides technical assistance, AI is also good at dealing with human resources. In particular, the latest artificial intelligence software lets HR managers and project managers find the most qualified personnel significantly faster.
AI technology drives plenty of positive changes in recruitment practices. Here are five basic advantages that recruiters will get with the adoption of AI tools and Applicant Tracking System.
Reduced hiring time
When a software development company has over 1,000 staff posts, a small part of jobs remains open on an ongoing basis. These vacant positions require an extensive search for candidates. Hiring one candidate typically takes 2 to 6 weeks because a recruiter needs to go through dozens of CVs before choosing a few individuals that seem most suitable for a specific post.
By contrast, AI tools for online recruitment can screen vast candidate databases within a minute and offer you a list of the right applicants. The use of AI technology in employment helps companies to cut down on the time and costs they normally spend to fill empty positions. This advantage protects your business from losses involved with employee resignation and allows outperforming competitors on the market.
Better candidate matching
The quality of AI search results is way different from what a common HR professional usually shows. Upon your request, AI search tools can identify hundreds of employees that are potentially fit for the open position. Then, it sorts out all these resumes to define whether an applicant’s CV complies with the requirements of the job. This process of candidate matching is almost infallible and requires the minimal human involvement. AI sourcing tools are largely used by LinkedIn, Indeed, and other employment services that operate online.
More precise predictive analytics
It is difficult to judge applicants by resumes alone. It happens now and then that an HR manager picks up the candidate that gives hope first but eventually cannot handle the entire range of duties. Whatever recruitment strategies you follow, each of them is weaker than AI software. Not only does it detect the most skillful and competent candidates, it equally analyzes the chance of each candidate to succeed in the job. This ability of AI allows finding the best candidate who has relevant expertise and possesses all the necessary aptitudes to excel at the position.
One of the biggest challenges facing HR managers is that they should be totally unbiased when examining an applicant’s potential and competence. However, it is hard to remain objective, for example, when a candidate has lots of common with a recruiter or, on the contrary, has an opposite view on stuff that is not directly linked to their profession. This similarity or discrepancy of opinions and values may affect the recruiter’s judgment. AI software is no way influenced by bias or prejudice and thus is less prone to making an error. It determines whether a candidate has a great value to the company without relying on the quality of interpersonal communication. AI invulnerability to bias is the reason why it delivers amazing results and prevents companies from hiring low-skilled workers.
Engagement of passive job seekers
The last advantage of AI recruiting tools is that their search algorithms engage a substantial part of passive candidates that refrain from sharing their CV online. This singularity lets businesses get access to an even wider pool of specialists and poach them from other enterprises. This unique ability of AI explains why many companies now decide to build on AI tools to implement the best recruitment practices.
Will AI tools displace recruiters in the long run?
In spite of its potency, Artificial Intelligence won’t cause any damage to recruiters. It is designed above all to replace manual handling of simple tasks and hence allow for more time for creativity and thinking. This does not mean that recruiters won’t be needed anymore, nor that the number of recruiting positions will decline. Since recruiters have a wide variety of responsibilities besides the search itself, their focus of activity will be somewhat shifted to other aspects of their job.
To date, about 34% of businesses have already adopted AI recruiting software, and over 60% are going to do the same by the end of the year. As you see, recruitment trends are going up steadily and soon will change the recruiting market for the better.