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The marketplace’s adoption of artificial intelligence (AI) technology has doubled over the last five years, and AI recruitment technologies are right at the forefront of these innovations.
Not only is artificial intelligence being championed as an effective human resource management resource, but AI systems are also becoming more widely accepted as the answer to many of the complex challenges associated with successfully hiring and retaining talented workers today.
Therefore, as artificial intelligence evolves, we’re going to see it playing an increasingly prominent role in talent acquisition and hiring.
So, what is it about AI that makes it so appealing to HR professionals and recruiters?
Any way we look at it, AI technologies are booming. According to Gartner, customers worldwide are expected to spend well over $62 billion on AI-based software applications by the time 2022 ends. What makes AI so amazing is that it can communicate with us humans using our own language. In fact, it’s even capable of recognizing our faces and fingerprints!
As a society, we can expect AI to become more and more a part of our daily lives as innovations in AI continue. The real allure of AI is that it employs the use of machine learning to learn from the past and make predictions about the future. In the simplest terms, AI can be defined as computers producing the same kind of thinking humans do, and its capabilities are nothing short of astonishing.
To understand where the roads of recruitment and artificial intelligence intersect, we need to look no further than the wide array of benefits that come from automation. AI recruitment technologies automate many traditionally time-consuming elements of the talent acquisition process.
In other words, recruiters now have AI-powered tools at their disposal, which can be used to rapidly create a shortlist of the best candidates. AI can achieve all this by narrowing down large pools of applicants using algorithms to match job seekers to open positions, all while successfully guarding against biases based on race and gender.
AI recruitment technologies are also capable of objectively analyzing all the data that exists on previous recruitment strategies and can generate informative reports revealing where your recruitment strategies are succeeding and where they may be falling short.
In the marketplace, here are the top 7 most effective uses of AI in modern recruitment processes.
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Over the past few years, we’ve watched as AI recruitment technologies have taken over many of the repetitive tasks that go into the processes of recruiting new talent. This is most evident when we look at the applicant tracking systems (ATS) on the market today.
ATS systems are often the core HR technology asset for companies of all sizes, designed to automate and streamline much of the hiring process, especially those repetitive, high-volume tasks. In fact, nearly 7 out of 10 larger companies have an ATS at the center of their recruitment efforts.
Though originally developed as an inventorying mechanism for applications and resumes, AI recruitment technologies now play a key role in an ATS system’s ability to generate informative reports and insightful dashboards that can provide key metrics about pools of applicants.
In fact, the best ATS systems on the market also include a recruitment CRM feature – something that’s proving to be very resourceful to headhunters and staffing agencies. With recruitment CRM, staffing agencies have an all-in-one solution to manage and strengthen the relationships they have with their clients as well as their job candidates.
Here's the most interesting thing about ATS systems: Their utility in the marketplace continues to evolve alongside the technical innovations in HR. In other words, the more innovations we see in AI-based technologies, the more useful and necessary ATS systems are becoming for every organization, both large and small.
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Candidate screening has always been one of the marquee advantages of adopting an ATS, but AI recruitment technologies are continuing to enhance the screening effectiveness of this system. A modern ATS powered by artificial intelligence gives recruiters the tools to search through thousands of resumes in seconds using keywords related to job titles, education, and specific skills.
It’s important to emphasize that over half of the world’s recruitment leaders believe the most difficult part of recruiting is being able to identify the right candidates from a large candidate pool.
With nearly 120 candidates applying for every job opening, it’s easy to see why this is such an effective application of AI recruitment technology.
The true benefits of AI recruitment technologies become evident when we consider how well the software can leverage the swaths and swaths of candidate data residing within an ATS system to reveal and report actionable insights about your pools of talent.
AI is now capable of instantaneously scanning the qualities, credentials, and skills of candidates and can match them with the requirements of difficult-to-fill positions.
The main takeaway is this: In an ATS system, AI recruitment technologies are applied to understand the potential of various applicants and then report on its recommendations based on that understanding. That’s a lot to ask of a computer. But remember, AI recruitment technologies are verifiably achieving these ends, and it’s making life a lot easier for HR professionals and recruiters.
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Talent acquisition has always been repetitive and time-consuming - AI recruitment technologies are providing a solution to this as well.
An especially useful tool in the early rounds of applicant assessment, AI can quickly eliminate those who aren’t suited to a particular role, and it can be achieved without applying any bias.
The speed of automation that comes from the adoption of AI-powered ATS systems has a direct connection to an organization’s operational costs as well; AI recruitment technologies don’t need time off – it constantly churns through every detail of each candidate and their level of intelligence evolves with every passing second.
AI recruitment technologies are always learning, taking what it learns from one recruitment scenario and applying it to different scenarios.
In this job market, data is everything. Over time, an ATS system will become a treasure trove of resourceful data from which you can create reliable interview scorecards, dashboards, and informative reports. AI recruitment technologies are the means of accessing the data to create these crucial resources. With an AI-powered ATS system, recruiters have access to tools that can help them track the effectiveness of their recruitment channels, monitor the progress of their diversity efforts, and better understand the effectiveness of each step of their recruitment strategies.
In modern times, recruitment metrics are essential components of a data-driven talent acquisition strategy. The AI-powered ATS system helps recruiters access and learn from those crucial metrics like quality-of-hire, time-to-fill, and source-of-hire. Metrics that recruiters must closely track to be successful in attracting the best talent in this highly competitive job market.
Today, recruiters need to contend with an overwhelming number of applications for each opening. There are growing expectations amongst today’s candidates, especially the best ones, for some level of interaction and feedback – today, we refer to this as “the candidate experience.”
Simply stated, it’s a change in attitude where companies are treating their candidates as customers – a wildly effective concept in attracting the best of the best talent.
With AI recruitment technologies, you can use your ATS system to provide personalized feedback to candidates, informing them of skills they lack, and you can also provide candidates with feedback that they can apply to their future career pursuits.
It’s a level of interactivity that’s much more easily achievable with AI recruitment technologies and well worth the investment, considering how appreciative your candidates will be.
LEARN MORE: 8 Ways to Keep Candidates Engaged Using an ATS
The Society of Human Resource Management (SHRM) recently reported that bias is the number one cause of hiring mistakes. Bias can be both conscious and unconscious, but AI recruitment technologies are proving to be very effective in eliminating this bias.
AI-powered ATS systems have the capacity to apply a “talent matching” process that can efficiently match candidates to the most appropriate positions within a company. AI achieves this by considering only the data about a candidate’s skill sets and experience and then objectively matching them to the requirements of a position. The key takeaway is that this is a process that eliminates any involuntary implementation of personal bias in the selection process.
Scorecards were mentioned earlier, but these resources are also quite effective in helping to eliminate bias in the hiring process by focusing only on a specific list of criteria that are based exclusively on the requirements of a role.
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For many HR leaders, AI recruitment technologies are recognized as the future of hiring. From the remarkable innovations that we’ve seen, we also believe the best in AI recruitment software solutions are yet to come.
For organizations that are ready to put the power of AI to work in their talent acquisition efforts, we’ve identified a marvelous opportunity to take advantage of the free trial now being offered by Manatal – a company recognized as a leader in HR software solutions.
With our robust and customizable ATS software platform on the market today, Manatal continues to demonstrate their expertise in designing powerful and affordable HR software solutions capable of solving the most complex challenges of our modern job market.
If your organization is serious about learning how an AI-powered ATS system can help them compete for the market’s best talent, start a free trial with no obligations, today.
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