What are the benefits of AI in Recruitment and Talent Acquisition?

In the digital world of today, companies are taking hold of their futures more than ever. And where does the future of a company lie? In the hands of its employees. One of the most integral aspects of running a business is to ensure that the correct people are being chosen to work alongside you to achieve your company’s vision. However, as long as there have been people, there has been human error. This is where recruitment, hiring and AI comes in useful.  

With the average cost of hiring a new employee arriving at almost $4,000, now is not the time for human error, and the tools of AI in recruiting are the solution. The use of artificial intelligence in the hiring process ensures that your recruitment is faster, more linear, and accurately aligned with the needs of your company. It learns as you do, so the longer you use it, the more accurate and the faster it will be. 

Hiring of Today: Everything about AI in Recruitment 

Artificial intelligence plays a key role in the digital transformation of any company. It helps you to identify patterns, automate processes, fine-tune the use of the innovative recruitment tools, and above all, learn more about your company. When it comes to remote Talent Acquisition, AI recruiting tools help you to deliver better and more accurate information from the data, increasing productivity while removing any window of human error. 

Mihir Gandhi, VP of Strategic Marketing for Eightfold.AI, discusses how AI is being used in hiring and recruitment, especially for identifying skills that may not have fit on the traditional, single-page resume. According to the expert, AI helps to create calibration profiles for hiring managers, helping them identify information beyond the core skills outlined within job descriptions. 

Do you want to know more insights from the Eightfold.AI case study? In the next article of Talent2Win, we will summarize the key uses of recruitment, hiring and AI, and its main benefits. 

Benefits of AI in the recruitment sector 

1. Reduce human bias

Unfortunately, human bias is something that we may have all fallen victim to at some point in our lives. AI recruiting tools help to eliminate any chance that a suitable and qualified candidate is left out because of their age, gender, or race. This is a step to equality that has been awaited in the recruitment industry for a long time.  

2. Improve the effectiveness of the candidate assessment

 Once you have rid yourself of the shackles of human bias, you can begin to improve your candidate assessment process. Using AI, you can identify aspects of a resume that put you off, and aspects that you like. The AI will learn from each decision you make, so the more you use it, the more effective it becomes. 

3. Improve employee/candidate relations 

AI will help your employees to track and respond to each application faster, which will, in turn, improve your candidate experience and the relationship they hold with your company. It takes a workload off your Human Resources department and allows them to focus on other responsibilities.  

4. Improve legal alignment to company needs

This point returns to the elimination of human bias. By using AI, you have a concrete set of benchmarked skills that you can refer to as you inform candidates that they were unsuccessful in their application. Not only does this final communication clarify the reasons for their unsuccessful application, but it also helps to improve your candidate experience.

5. Provide clear metrics and continued measurements

Without data and measurements, the only way to say you were successful in something is to guess and guessing in business is a fool’s game. AI allows you to improve your Talent Acquisition process and accurately measure the results and effectiveness of any changes you make on the way.  

6. Identify patterns for more personal results 

If AI recruitment tools are providing you with profiles that, while good, do not quite fit the bill of what you are looking for, then simply click to be rid of them and the AI technology will learn what you do not like. Equally, when you select profiles that you do like, the machine will learn and provide you with profiles that are more closely aligned to previously selected profiles. 

7. Identify weak points in your hiring process

If your Talent Acquisition strategy is losing candidates at a specific step, there might be an issue with this particular step in the process. This helps to identify whether the issues arise from the company, its hiring process, the people that you are targeting, or even if the issue lies in the parameters of the evaluation.  

How AI is Reshaping Recruitment and Hiring  

In short, AI quickly and efficiently finds candidates who are already aligned with your requirements. It removes the issues of losing focus of the key required skills and finds a pattern in your search style which helps to reduce search times. You can apply filters that search for a specific technical skill or industry experience and help to reduce potential subconscious prejudices in this manner.  

By filtering specific skills, you stand a much higher chance of identifying quality candidates. It helps to automate your hiring process and move forward in a more structured and agile manner.  

In terms of Talent Acquisition, AI helps to provide access to big data, as well as a much greater network and talent pipeline. Talent Acquisition companies use AI to save time in prep and research, select more effective candidates, and make use of all the above benefits.  

For all these reasons, AI is helping Talent Acquisition companies to stand out from the crowd and provide a better experience with artificial intelligence than you may be able to extract in a small to medium sized company that has a smaller hiring need.  

Remember that we can find the right fit for your team in no more than 3 weeks. We provide the perfect balance for your business: modern recruitment techniques and the expertise in AI Talent Acquisition.  

At Talent2Win, we strive to align your company’s business objectives with the best Talent Acquisition strategies available. If you want to learn more about the services we offer, do not hesitate to contact us.