Will AI Technology be a Game Changer for the Recruitment Industry?
What’s next for recruiting? AI has barely hit its prime when it comes to the benefits it can bring to recruiting and the talent acquisition world.
One of the main benefits of having AI within the Recruitment industry, will mean turning quantity into quality. In short, each job vacancy on average receives 200+ applications, however out of this, only 4-6 of these applicants will be invited for an interview which will then hopefully land in one extended to a job offer. A recruiters goal is to make around 6+ hires a month, that would mean receiving over 2,000 CVs when need to make only 8 placements.
Some say, that the average time a recruiter spends reviewing a CV is nowhere near enough time to make a judgement, but how is a Recruiter meant to remain thorough yet precise when sifting through CVs.
AI to the rescue. Using AI technology to initially assess resumes for keywords and concepts hidden in the text would give recruiters the ability to turn those piles of resumes into a short-list of qualified candidates.
By using this type of technology, recruiting specialists can then spend more time on the resumes that warrant more attention and not deal with the ones who were not qualified or relevant to begin with. This kind of technology throughout the recruiting process would save time for recruiters within an organization and allow them to make hires faster.
Another area in which AI will improve the hiring process, is candidate experience. It’s a frustration many job seekers run into: the ATS black hole. Sending in their applications and then never to be contacted again; wondering constantly if someone received their information or even bothered to look at their CV.
But with more than 2,000 resumes coming in for the average corporate recruiter a month, how can they stay in contact with each candidate?
This is where Artificial Intelligence comes in. Using a chatbot to help candidates throughout the application process, recruiters would be able to improve candidate experience.
In addition to helping job seekers throughout the process, the chatbot would also be able to keep them informed on where they are in the process by sending notifications. Implementing a chatbot in the recruiting process gives candidates the communication they need for a better experience and helps recruiters save time.