The Rise of AI in Recruitment
We are in the age of digital transformation, and the pandemic along with its effects intensified the need for digitizing business structures. All the while, we’ve been interacting with Artificial Intelligence (AI) through different channels and applications without us recognizing it. Its use has been greatly expanding since the early 2000s and it is only right that AI is recognized and maximized in the area of human resource and recruitment technology to enable a more efficient workforce and organizational processes.
“Only 17% of organizations use AI-based solutions in their HR function, and only 30% plan to do so by the year 2022”, according to Gartner Artificial Intelligence Survey.
Companies harnessing AI in their operations have seen significant and scalable results from adaptation. It will not come as a surprise that companies who are open and quick to grow along the technological advancements will reap the benefits earlier. There are various companies in the Philippines like Viventis Search Asia who were able to see the proven benefits of AI in recruitment when it used an AI tool to increase their candidate conversion rate for a volume hiring requirement.
The hybrid work set-up that was abruptly brought by the pandemic has professionals and organizations pivoting quickly to the latest technology trend such as AI and machine learning to make it work. And specifically in the area of Recruitment, where face to face interviews have become more challenging, here are some of the benefits of AI in recruitment processes:
- Scalability and data-driven decision making
Artificial intelligence (AI) functions on data and analytics and is often customizable according to insights, patterns and commands programmed and churns out results, almost real-time, in high volumes.
- Improved employee experience
As AI aids in automating repetitive and manual tasks, recruitment professionals get a free hand to do higher-level tasks and decisions that are proven to increase talent morale and productivity. There is also the opportunity to upskill and learn new tools on talent attraction.
- Improved candidate experience
Candidates are more engaged as the application experience is more human-like versus the traditional online examinations. Applicants are being provided with equal footing as AI promotes unbiased hiring depending on how it is programmed to measure results.
- Boost company image
A candidate’s experience of the technology sets your company apart as it gives a positive impression of how you put importance on their continuous development. With the presence of AI tools, you are able to match your automated processes with your company’s tone of voice without making it seem like it’s a general templated email or message.
- Cost savings
AI platforms provide and produce results 24/7 which in effect can reduce the cost of laborious, repetitive, and manual processes that take up long hours of one’s work.
- Opens opportunities for tech-related roles
Contrary to the myth that AI would replace humans, AI makes way for more in-demand roles in HR that involve Employee Engagement, Learning and Development, and other strategic roles.
According to the World Economic Forum Future of Jobs Report 2020, 85 million jobs may be displaced by the shift of labor between humans and machines by 2025, BUT 97 million new roles may emerge.
Discover how you can get started with AI in Recruitment
Is your organization ready to incorporate AI into its HR operations? Are you one of the few who had tapped into the technology for your recruitment requirements? We would love to discuss this with you.