Hiring has been one of the key focus areas for any organization for a considerable length of time. Let us understand how recruiting era has changed over this period. If we talk about the 1970s, recruiting as a process was more Employer centric which included a lot of individualized touches, phone and networks, high agency reliance and a ton of expenses.
Looking at the circumstance now, the 2010s, we have moved to a world which is more relationship-centric and is known as the digitization time wherein you have the rise of automation and artificial intelligence in recruiting solutions. A lot of focus is on communication and candidate relationship management. Statistics demonstrate that over 85% of candidates do not hear back after applying and 71% of businesses guarantee that they cannot find a candidate with the correct skill set.
These percentages remained constant 20 years back and very little has changed even today. Indeed, even today recruiters spend a lot of time on activities like sourcing, matching candidates to jobs and screening. Automating these tasks in the recruitment software would help with bringing a lot more process efficiencies and ensure that the recruiter becomes much more effective in the work assigned.
Application of Artificial Intelligence in Talent Management Solution
Let us review the five most promising applications for AI in Talent Management Solutions:
- Sourcing: Candidate sourcing is still a major recruiting challenge. Artificial Intelligence for candidate sourcing would help in scanning for information that people leave online to find passive candidates that match the job requirements. Sourcing then can get more powerful and efficient process since it can simultaneously search through multiple sources of candidates for the recruiter. This replaces the need to manually look through the profiles and thereby saves a lot of time per order. The time one saves in sourcing can be spent on turning a talent advisor for the business.
- Candidate Screening: Artificial intelligence for recruitmen software can utilize post-hire data, for example, performance and turnover to make hiring recommendations for new candidates. It can make these recommendations by applying the data it learned from the earlier screened competitors i.e. employees' experience, skills, and other qualifications to automatically screen new candidates. This can also improve resumes by utilizing public data sources about previous employers and candidates' social media profiles. It helps automate a low-value, repetitive task and allows recruiters to re-focus their time on higher value priorities, for example, talking and engaging with candidates to evaluate their fit.
- Matchmaking: Matchmaking goes beyond keywords and Boolean searches by enriching candidate resume data with information from the candidate's public digital footprint. Using normal language processing in your recruitment software, a resume enricher can spare a candidate's public social media profiles and online life profiles and online work portfolio to make a preliminary portfolio of his or her skill set and personality traits and match them against the job requirements.
- Candidate Experience: Today's candidates need and expect continuous feedback, often immediately. More than 50% of job seekers have a negative impression of a company if that they do not hear back after applying. AI in the form of chatbots guarantees to enhance the candidate experience. Recruiting chatbots utilize normal language processing to interact with candidates in real time by asking qualification questions related to job requirements and providing feedback and next step suggestions. By automating repetitive tasks, for example, answering FAQs about a job, a chatbot can guarantee the candidate experience is not suffering an absence of communication on the recruiter's end.
- Reduce Unconscious Bias: AI can decrease unconscious bias amid the recruitment process by ignoring demographic information on a candidate's resume or profile, for example, age, gender, and race. AI is trained to find patterns in previous patterns; however, so any human bias that may already be in your recruiting process regardless of whether it is unconscious can be learned by AI.
jiTalent - An AI Based Talent Management System
To prevail in the new workplace, organizations must form strategic recruiters capable of managing complex talent pipelines and advising the business on talent needs and labor market conditions. By automating low-level administrative tasks with jiTalent, AI will empower recruiting to pivot into a more strategic talent advisor role. These high effect recruiters will be the voice of talent strategy. They will help adjust recruitment efforts with organizational strategy to fabricate talent pipelines to meet both short and long-term business needs.