There are eight suggestions that might assist companies in winning the talent battle.
Marjorie, an expert in human resources, is given a task that appears to be impossible. It has been requested of her that she find, within the next month, six front-end programmers who speak Spanish, have at least ten years of experience, and are able to relocate to Miami, which is located in the southeastern United States. This would never have been achievable even a relatively short time ago. She now inputs the specifications into her AI-enabled recruitment system, which then quickly prospects for applicants across the major social and professional networking sites, such as Facebook and LinkedIn, as well as the important job aggregators, such as Indeed. In addition to this, it searches through the company’s database of previous applicants for employment.
About 1,000 potential prospects, both active and passive, are generated by the system in literally one tenth of the time it would have taken a dozen professional recruiters to achieve the same thing. The system decides whether to send a candidate a personalized email or to display a banner for the candidate to click on. If the system chooses to display the banner, the candidate must click on it. It performs this in a series of waves, analyzing the replies of applicants and modifying its technique for the subsequent group. The AI-enabled system has prefilled several portions of the application based on the interested applicants’ social media and professional network profiles. As a result, the interested candidates just need a few minutes to finish the application.
Candidates are able to engage in conversation with the system’s chatbot, which responds to their inquiries about perks, income, and the job profile. In addition to this, it asks candidates a variety of inquiries, such as when they are able to begin work the earliest. A percentage of applicants that is lower than seventy percent are able to pass the first screening process and are then directed by the chatbot to participate in a series of cognitive games and coding tasks. The replies are analyzed by AI to assess the individuals’ IQ, character, and coding abilities.
The chatbot will then invite the top third of the candidates who are still in the running to participate in a webcam interview at their earliest convenience within a timeframe of several days. Candidates have the option to re-record each response before submitting the final one while using the AI technology that is conducting these interviews. The software then evaluates the substance of the candidates’ responses, including their word choice, their voice intonation, and their micro-facial gestures, and compares them to high-performing workers and ideal profiles that have been set.
After having her mandate handed to her less than two weeks ago, Marjorie already has 10 potential candidates in mind to invite in for the last round of face-to-face interviews and evaluations. The hiring managers make employment offers to eight of the 10 finalists, and seven of them accept. Throughout the process, the chatbot will continuously update all applicants on the progress of their application. A follow-up poll showed that 89 percent of the applicants had a fair and favorable experience and would recommend the firm to friends and colleagues. This is despite the fact that approximately 99.4 percent of the candidates were not selected for the final round of the competition.
Even if there isn’t a single AI-enabled recruiting system that can handle all of the recruitment duties in a seamless manner, each and every one of those jobs may be accomplished by using AI-enabled technologies that already exist. To put it another way, the revolution in recruitment enabled by AI that people have been talking about for over a decade has now arrived. Yet, around two-thirds of the enterprises that are already operating are not yet completely engaged in the game.
Water, water, and more water everywhere
Applicants no longer need to physically visit an employer or a job center in order to hand in their resumes and cover letters any longer. The majority of the obstacles that applicants have when trying to locate firms and companies when trying to find candidates have been eliminated thanks to the internet.
The revolution in digital recruitment was sparked by the introduction of multi-platform aggregators like Indeed in the middle of the 2000s. The development of online social media and professional networking platforms like Facebook and LinkedIn also had a role in this phenomenon. These platforms offer a place for businesses to publicize the job openings they have available and supply information that may be utilized to discover millions of individuals who are not now actively seeking employment. As a direct result of this, the number of people applying for each available position increased dramatically. For instance, in 2017, L’Oréal got two million resumes for only 5,000 open positions, which works out to an incredible 400 candidates for each open post.
On the other hand, research shows that the quality of participants tends to decline when participation is made easy and does not cost anything. According to the findings of a variety of studies and polls, anywhere between 75 and 88 percent of all people who apply for jobs are genuinely unqualified for the positions for which they apply. In this regard, we are reminded of a famous passage from Samuel Taylor Coleridge’s poem “The Rime of the Ancient Mariner,” which reads as follows: “Water, water everywhere, but not a drop to drink.” To put it another way, businesses run the danger of being submerged in a pool of applicants of poor quality if they do not implement screening systems that incorporate AI.
What, therefore, can AI-enabled recruitment technologies do to assist businesses in generating large and diverse talent pools, intelligently screening applicants, comprehensively evaluating candidates, and eventually assisting them in selecting and employing the most qualified candidates? The answer, in a nutshell, is “a lot.” These are the top eight suggestions that we have.
1. Get started with your trials
Several CEOs have voiced their frustration that it might be difficult to determine which suppliers or AI recruitment solutions are the most effective. We do not propose conducting a comprehensive evaluation and comparison of AI screening providers and tools. This is because of the rapid pace at which AI screening solutions are undergoing change and development. Instead, you ought to become involved in the competition, observe what works, and discard the rest. Moving as rapidly as you can up the learning curve is the most effective technique to achieve sufficient height to be able to scan the surrounding area. This demands far more action than laborious planning.
2. Be sure to toot your horn
According to studies, the vast majority of job hopefuls, especially younger ones, have a positive impression of companies that employ AI in recruitment and trust that it will do a good job. In addition, they consider taking part in a recruiting process that is powered by AI to be cutting-edge, new, and intrinsically fulfilling. A higher possibility of participating in and finishing a recruitment process that is enabled by AI is connected with these beliefs. When explaining their recruitment process, companies that employ AI-enabled solutions should emphasize the innovative nature of their strategy by using words like “new,” “novel,” and “cutting edge.”
3. Make use of the already
AI technologies available today are able to search through a database of previously rejected job applications in order to locate individuals who would be a good fit for a current search. This is possible even when the information about the candidates is presented in a variety of forms. Despite the fact that many of the individuals who had their applications rejected in the past do not meet the requirements for the current jobs, those who do have demonstrated an interest in working for the firm. Some AI screening companies, such as Leoforce with its Arya platform, are able to search through thousands of previous candidates in a matter of minutes, identify those who are a good fit for an available position, and even rate the prospects. This is a fantastic technique to improve the return on investment (ROI) on previous recruiting investments.
4. Be on the lookout for novel
It should come as no surprise that AI systems can bring job openings to the attention of active candidates online. But what’s probably most remarkable about them is their capacity to spot passive applicants, who, by a ratio of around three to one, outnumber active candidates. While 70 to 90 percent of passive applicants are eager to accept a job opportunity, if you neglect to reach out to them with AI, you will simply leave yourself susceptible to the efforts of other companies to identify and poach your employees.
AI technologies provided by companies such as ClearFit and Engage Talent are able to search social media platforms and professional networking websites like as LinkedIn, Instagram, Pinterest, Twitter, and Facebook for applicants for open positions who do not actively seek employment. These algorithms don’t only scan for certain keywords; they can also examine the proportion of selfies to other images that a user shares and make an educated guess as to whether or not the user is more individualistic or more team-oriented.
5. Gamify evaluations
Assessments that may be utilized by businesses for the purpose of further sorting applicants might range from straightforward cognitive games to more involved simulations. For example, Unilever employed Pymetrics, an AI recruiting tool, to build 12 neuroscience-based games that applicants could complete in a little as 20 minutes. These games provided a consistent and valid method for assessing a wide variety of traits, including problem solving, decision making, and risk taking. At the more complex end of the spectrum of gamification, McKinsey developed a simulation in which job seekers were tasked with determining why animals in an otherwise untouched forest were dying from an unknown ailment and deciding what steps should be taken to remedy the situation.
6. Do the first interviews virtually if you can
Unstructured interviews carried out by humans have a validity rate of just approximately 25 percent when it comes to forecasting real work performance. This means that you would have twice as much success with a coin toss. Structured interviews, in which the questions are not left to the whims of the interviewer, are better than unstructured interviews but are still susceptible to a variety of cognitive biases. Even while in-person, concluding interviews are still required, we strongly advise employing AI technologies to conduct preliminary interviews. They are able to analyze response content, word choice, voice intonation, and micro-facial gestures with a greater degree of reliability.
When Unilever used HireVue to interview an estimated 30,000 candidates for 200 internships, the quality of the candidates who made it to the final-round, in-person interviews was so high that Unilever made offers to 80% of the finalists, up from 65% in the past. This is because the quality of the candidates who made it to the final-round, in-person interviews was so high.
7. Make use of a chatbot
A mountain of research has demonstrated that individuals would participate more in procedures that they consider to be fair. [Citation needed] [Citation needed] More recent research, including our own, reveals that people demand fair treatment not just from other humans but also from AI. This is the case regardless of the source of the information.
One of the most important aspects of receiving fair treatment is having access to accurate and up-to-date information. Regrettably, practically little response is provided to job hopefuls by the vast majority of companies, with the exception of an acknowledgment that their application has been received. Applicants who are kept in the dark have the ability to broadcast their bad feelings about the firm and its procedure via their social media profiles to friends both nearby and far away. An AI chatbot can avoid poor word-of-mouth from harming future recruiting possibilities as well as sales if it keeps candidates properly informed and answers their questions.
8. Incorporate
Managers have the responsibility of ensuring that, from the perspective of the applicants, the whole experience does not wind up being less than the sum of the parts, despite the fact that there are a lot of AI gadgets on the market today. As a result of this, you need to consider the entire process of recruitment in order to ensure that it is as integrated as feasible.
Read more: What possible good may come from achieving financial success?
Important ramifications
If you’re a manager, you need to accept the fact that this revolution is already underway. You may utilize the available AI technologies without having to produce a million job applications annually. Most of the tools are available as individual add-ons, making testing and rollout of new functionality easy on the wallet. You should also be aware of the fact that the advent of AI technologies with the potential to drastically reduce the time required to find and hire candidates might transform the whole process of finding new employees into a deadly competition. Who do you think is more likely to win the war for talent if your recruiting process takes 42 days and your rivals employ AI techniques to cut theirs down to 4 days?
In spite of the fact that AI-enabled digital recruitment tools are the “weapons” in the next technological arms race, the companies who are able to come across as the most human will ultimately prevail. It’s not hard to understand why. Companies succeed when they attract the most talented workers and convince them to join their teams, yet research shows that workers join organizations for human interaction, not AI.
Nonetheless, people remain unchanged despite remarkable progress in AI job-hunting aids. Our basic mental and social makeup and biological make-up haven’t changed significantly in the last two hundred thousand years and aren’t expected to undergo any major shifts in the next two or twenty.
Hence, although businesses need to employ AI to attract applicants, the genuine, non-artificial components of an organization will have a far greater impact on whether or not they decide to join and remain.
