What is the Role of AI in Talent Recruitment?

If you’re among the many organizations wondering how to include artificial intelligence in your business, AI in talent recruitment is a good place to start. AI is expanding the potential of what we can do with technology, and while it’s a matter of great stress for employees who are fearful of losing their jobs to AI, replacing manpower does not have to be the ultimate goal of embracing AI. 

Using AI to hire talent can help you expand on the talent pool you have access to while also sifting through the many CVs that get sent in with greater ease. AI is transforming recruitment at a great speed and there are many ways for your organization to be a part of that change.

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AI in Talent Recruitment—Getting to the Heart of the Matter

The Society for Human Resource Management finds that the average cost for recruiting a new employee can stand at $4,700 USD, and that’s without considering recruitment for in-demand roles or those that require highly specialized skills. Throw in the additional cost of training the employee and the delay in productivity until the newly hired employee can be brought up to speed on relevant topics and you’re now losing out on much more money and time than you expected to when you started the hiring process.

Many companies are turning to layoffs and relocating jobs and each of those organizations will be faced with the delayed cost of rehiring talent later down the line. If they use flawed processes and outdated metrics to hire, they will find themselves having to rehire for the same position twice within a span of a few months. Multiply that by the several positions they need to hire for, and the cost of recruitment and onboarding builds up even further. 

There are many talented candidates out there looking for work, but unless you know where to look, how to filter candidates, and what qualities best match your organization, you will continue to miss out on finding them. Using AI in talent recruitment can be a game changer in more ways than one.

Why Should You Use AI to Hire Talent?

When you understand the many flaws of existing hiring systems, it’ll quickly become apparent that change in some form is necessary. In smaller organizations that have fewer positions to hire for, it may not be as difficult to work through the list of job applications that come in and keep in touch with all of them effectively. For mid-sized to large organizations, it is much harder to pull this off.

Relying on technological offerings such as Human Resource Information Systems (HRIS) and AI in the recruitment process can be worth looking into for many reasons. 

• AI can help automate the process of putting out job notices and collecting applications
• The first round of application filtering can be done through AI
• Reduces the time spent on a hiring cycle from start to end
• It eliminates any initial issues with bias as the filters that the AI tool checks for can be set to the company’s requirements
• It can help track the applications that come in and organize them for review
• AI can be used to schedule appointments and other interactions with the candidate
• The candidate can be provided with a more involved experience where everything is streamlined and they don’t have to wait for replies to their emails
• After the initial investment in the AI, it can save the time and money spent on the hiring process
• It takes care of the more menial and repetitive tasks and frees the recruitment team to focus on things that require individual attention such as the actual interviews
• AI tools can be used effectively during the onboarding to help keep new employees informed and engaged, boosting the chances of retention
• Provides insights on various elements of the hiring cycle such as the platform with the most relevant candidates, the type of skill sets that are popularly showcased, the retention rates after initial contact with a candidate, etc. 

How to Use AI for Hiring

The benefits of AI in talent recruitment processes are plentiful but determining where to start can be a challenge. Organizations need to extensively research AI tools to determine whether a company they want to work with can provide the AI Applicant Tracking Systems, or if they want to build the resources in-house. The second strategy can be very expensive and time-intensive and it might take years of trial and error to perfect the system. 

As a result, even if the long-term goal is to have all the tools developed internally, if you want to experience AI’s role in hiring in the present, then taking a look at the AI recruitment tools available is your best bet. Platforms like Phenom AI and SeekOut provide tools that can help with understanding where AI fits into the recruitment process.

To make matters easier, here are some features to look out for when using AI to hire talent.

Expanding the Talent Pool

AI tools can be more efficient at coordinating the search across multiple platforms and it is much better at finding potential candidates who have not directly applied for the role yet. There may be candidates who have not come across your job postings but are looking for a job. 

Resume Screening Tools

AI in the recruitment process begins with the power to analyze the resumes that are sent in. These tools can be set to look for specific skills and qualifications so that you do not have to manually read through the resume to find something relevant. These filters can also be readjusted based on your initial results to help improve the quality of the screening. Blind recruitment becomes much easier when individual bias isn’t reflected in the initial screening.

AI Fit Scoring And Ranking

Once the candidates are screened and good matches are found, AI tools can help rank the candidates according to the best fit for your organization. Instead of interviewing all the 50 CVs that have come in haphazardly, you can then choose to interview the top 20 who are the best fit according to their experiences and skills, and then work your way down the list.

Engaging Chatbots

Once you reach out to potential candidates, chatbots can be a helpful resource to answer some of the pressing questions that candidates have. Instead of waiting to hear from HR on the nature of the role or instructions on how to fill a particular form, chatbots can help answer basic questions and redirect candidates to the appropriate page on the company website.

Automated Skill Assessments

Some of the initial proceedings within the hiring cycle can be taken care of by AI. If there are cognitive tests for psychometric analysis being conducted, calculating scores is very straightforward and does not require individual interpretations. 

AI tools can be very efficient at guiding candidates through these assessments and putting the score together for the next stage. This is a very novel use of AI in the recruitment process and can vastly help with going ahead with candidates who are truly a good fit for the role. 

Scheduling Interviews and Streamlining Interactions

When using AI to hire talent, one important consideration is contacting clients on time. Job hunters are often under pressure to pick their next role quickly and they don’t always have time for the perfect job offer to come through. As a result, they may move on with other opportunities if you don’t get back to them in time. 

Recruitment teams have a lot on their plate and rarely have sufficient time to keep everyone in the loop about how things are proceeding. AI tools can be very efficient in scheduling interviews, sending out auto emailers, and generally organizing some of the interactions between the candidate and the company. 

It isn’t ideal to rely on AI for all interactions with a candidate. There needs to be some human elements for candidates to feel a connection with the organization and its people without which the process will seem entirely mechanical.

Video Interview Screening 

AI’s role in hiring can extend to video interviews as well. Various tools can be used to study the candidate and their responses to get a comprehensive understanding of who they are. Despite their benefits, however, these tools need to be used with caution. 

Candidates need to be informed in advance if their interviews are being recorded or if they are under observation via AI screening tools and employers should use these screening elements with caution as they are by no means perfect. CVS faced legal troubles for using an “AI lie detector” test to screen candidates, so look into the state and federal regulations before you begin to use these tools freely.

Colorado is leading the way in establishing conditions regarding AI use in major decision-making services to ensure that no bias is allowed to prevent individuals from seeking out employment opportunities and other benefits. Such rules also need to be considered while embracing AI in the talent recruitment process. The AI we have today is constantly evolving and while they are very useful in every setting, its results should also be reviewed by a human perspective before action is taken on it. 

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