How AI and ML are redefining recruitment?
Updated on Jan 13th, 2023
The advent of Machine Learning (MI) and Artificial Intelligence(AI) in recent years have been solving a plethora of problems that used to plague many business operations. The tasks that were boring and recursive are now automated and require minimal human intervention from employees. This allows businesses to have their employees focus on more meaningful activities and cut down on extra workforce. However, human resources (HR) is an important field where the ‘human’-element of HR people stays critical while addressing the challenges businesses face today – hiring the right talent.
AI segregates and transforms the data into a format that is easy to comprehend. ML, on the other side, is an advanced form of Artificial intelligence that scans data to identify patterns and modifies program code accordingly.
The insights put forward by AI/ML generate suitable data to assist HR practitioners to retain and motivate existing employees and also to recruit new ones. Moreover, AI and ML-powered suggestions utilize historical records to resolve expected problems, thus helping HR leaders develop HRM programs based on smart data.
Quickly glance through numerous ways AI and ML boost the process:
The old-age approach is recruiters doing a highly tedious job of sifting through scores of resumes for fetching the suitable candidate. AI has helped companies in getting rid of this manual process by introducing virtual assistants that can perform this job efficiently. For instance, Canadian startup Ideal takes the aid of AI to screen resumes depending upon the client’s requirements. Its virtual assistant(VA) merges itself with the client’s applicant tracking system (ATS). Based on how the client is hired in past times, the assistant evolves itself to recognize the desirable elements in a particular resume using pattern recognition methodology.
HR chatbots reinforce workplace relations and support employees’ engagement. That is why HR solution providers and prospering startups are adopting HR chatbots more and more. These chatbots utilize accumulated data to automate and streamline the hiring process. In addition to storing personalized data of employees, AI/ML-powered chatbots have numerous advantages, for example, endless conversations with users, easy accessibility, instant replies, round-the-clock availability, and active cross-channel integration.
For suppose, if you are planning to take a day off without prior notice, you would drop a message stating that you were on leave on that particular day. The chatbot will then ask your management if the leave can be approved or not. The application will only be confirmed if your manager approves it.
HR bots can also take care of expenses and payroll efficiently. One needs not to spend hours filling out forms for recording transportation expenses. Simply notify the bot, and it is going to get your bills approved by your senior management.
AI and ML have the potential to remove conscious and unconscious biases from recruiting decisions, leading to hiring decisions based on innate skills and abilities. Many CEOs and senior management teams are energetically endorsing diversity programs yet struggling to make progress. Artificial Intelligence and machine learning-based approaches like Eightfold can help in accelerating them to their diversity goals and attain a more impartial workplace environment. Data is the best equalizer; it has a proven ability of eradicating partial and impartial biases from recruitment and enable true diversity by equally evaluating candidates based on their experience, growth potential, and strengths.
Improvised candidate’s experience
A 2017 survey by glassdoor says that 66% of millennials are expected to quit their current jobs by 2020. With attrition being a major problem for human resource managers, AI can get better candidates with decent experience by using predictive analytics methodology. It can assist companies in predicting the probability of an employee fitting well into the company’s work environment. Better the prediction, the higher the chances of an employee staying back.
The HR industry is increasingly utilizing AI/ML as they are adept at identifying performance patterns over time. These robotic technologies are armed with face-recognition technologies that are capable of identifying gender and measuring employees’ emotional traits on a scale of sad to euphoric. With the data accumulated by these technologies, organizations can develop a closer bond with the workforce and identify their true potential.
Obstacles on the way
There are numerous benefits of AI and ML into recruitment; however, there are some obstacles as well. Companies need to decide how much they want to rely upon a machine’s judgment in case of finding the suitability of a candidate. Also, the integration of AI and ML needs to be approached in a sequential way for ensuring that the algorithms are not botched in the first place. It is judicious to choose the right source of integrating the machines. For instance, relying solely on the candidates’ LinkedIn profiles for shortlisting might lead to poor matches. As recruiting managers and companies still dabble with AI and ML, there might be unpredictable surprises in store too.
Having discussed the numerous ways AI and ML have made an impact on recruitment, it is time to explore varied AI-based tools popular in the market.
Paradox is an AI-based tool for recruiters and job candidates. Its assistant, named Olivia, engages with candidates leveraging different social media channels to learn about their expertise, skillset and job experience. Olivia then presents applicants with the next steps- interview scheduling and answers process-related questions with the help of natural language technology.
Restless Bandit uses an intelligent bot for hiring. This bot algorithmically connects and retarget the highest qualified applicants. This tool has built its algorithm by using around 30 million resumes and candidate profiles, 120 million job descriptions and 50 thousand hours of data analysis for ensuring the discovery of top applicants in a company’s ATS.
TEXTRECRUIT is an engagement platform that enables live chatting between candidates and hiring managers. The chatbot is customized as per the company’s brand and voice, representing the company’s culture even though talent pipelines. Apart from recruitment, the AI-enables platform also helps employees with onboarding and reminders about things like open enrollment for health insurance.
WADE & WENDY
WADE & WENDY provides support to job seekers and companies throughout the hiring process. Wade operates with job seekers to give personalized opportunities, whereas Wendy aid recruiters with tedious tasks, email automation, and feedback.
XOR is an AI-enabled tool accelerating the recruitment procedure in industries like retail, tech, healthcare, and restaurants. This tool implements bots to engage with applicants which speed-up the application process and reduce drop-off rates. Interview scheduling and asking questions to determine the candidate’s persona are some of its functions.
ARYA is an AI platform by Leo force which searches talent for recruiters using data, machine learning, and behavioral patterns. After the research, it connects with candidates by personally messaging the potential candidates. ARYA helps in saving time by steering the right talents directly to recruiters.
Of course, the significance of ‘human’-element in the right hiring cannot be undermined. Although AI and ML-based HR solutions can be leveraged to automate repetitive and mundane tasks. Resultantly, HR executives can focus on the complexities of human emotions while hunting the right talent for their company.
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