As we advance into a new era of work, many companies are getting smarter about how they hire applicants. Of all the emerging technologies shaping the market, artificial intelligence (AI) is an intriguing development for HR teams.
AI has several benefits in the hiring process. These range from performing much of the manual work that comes with sifting through applications to removing unconscious biases that might impact hiring decisions, and much more.
We’ll explain what AI is, and how you can use it in your recruiting to hire the best candidates, streamline onboarding processes, and more.
What Is AI?
AI is a form of intelligence that aims to help make people’s lives easier in several industries. It’s a machine learning system that helps teams save time performing tasks.
AI is a powerful tool and has several benefits, including:
- Reduced labor costs
- Requiring less time to complete tasks
- Round-the-clock operations
Currently, several industries are using AI. Manufacturing companies are using AI to improve their products and services, and cybersecurity. For this year, Gartner predicts that AI software revenue will increase by over 21% year on year to $62.5 billion.
How to Use AI in Your Recruiting
AI has a positive impact as part of your recruiting strategy. Below are five areas where these systems can improve your hiring process before, during, and after the interview phase.
Hire with Diversity and Inclusion in Mind
Diversity and inclusion are more than buzzwords. Hiring people from multiple backgrounds has several benefits for companies. Research backs this up, as seen in a McKinsey & Co. report published in 2020 (research conducted in 2019).
In the report, companies in the upper quartile for ethnic diversity in their executive teams were 36% more likely to outperform the national industry median in terms of financial success. For gender diversity, businesses in the top quartile were 25% more likely to do better than average in the same metric. (See image: Image Source)
Hiring a diverse team sounds easy on paper, but the practicalities are more difficult. For example, some businesses might suffer from unconscious biases around race, gender, or disability that can impact hiring decisions.
AI can help you make better decisions based on suitability for the job—regardless of background. AI can sift through applications based on job-specific parameters only, presenting you with a more diverse talent pool to invite to an interview.
Since the COVID-19 pandemic, a huge emphasis has been placed on remote work.
The expansion of hybrid and remote work has led to companies in multiple industries having access to a wider talent pool. However, finding the right people for your company has also become more challenging. In November 2021, CIPD revealed that 27% of employers expected that filling job vacancies would become trickier over the six following months. Meanwhile, 46% said it was hard to fill openings in the winter of 2021/2022. (See image: Image Source)
Process Job Applications Faster
HR team members can spend their time in ways that are more productive than sifting through the many job applications that each opening gets. This time-consuming process causes delays that could mean talented applicants will receive an offer elsewhere in the meantime.
AI saves time by going through applications based on hiring managers’ requirements. Hiring managers will have a more streamlined set of applications to review, allowing for more time to focus on pre-screening applicants and engaging with top talent to get the ball rolling.
Use AI to Help with the Onboarding Process and Learning
Once your ideal candidate has accepted your job offer, it’s time to move on to the next and final hiring phase. It’s essential that you onboard new employees correctly; providing the right training can help reduce the learning curve that comes with starting a new job.
AI can help with onboarding by automating much of the paperwork involved with training courses. This makes it an excellent tool for creating effective training programs, as well as during the onboarding phase.
When hiring new employees, it’s important to remember that you are dealing with humans. Personalization is crucial in every industry, as commerce has shown us time and time again; McKinsey & Co. revealed that 71% of consumers expected personalization in 2021.
Personalization can improve the hiring process by making prospective employees feel as though they matter, which makes you a more attractive prospect for them. AI can help you personalize your communications in several ways, such as creating automated email responses that aren’t generic.
AI Is an Excellent Tool for Advancing Your Recruiting Efforts
AI is an excellent tool for businesses to include in their recruiting strategy, and the industry is rapidly evolving. The technology can be used to help you tackle the challenges of recruiting.
By incorporating AI into your recruitment process, hiring becomes more efficient. You can even use smart video interview technology to increase your application rate. With AI, companies can automate their recruiting processes to hire the best candidates, while helping to create a more personal recruiting experience that attracts the best talent.
Interviewer.AI helps companies automate screening processes. Our platform handles the initial screening so you can focus on growing your teams and company. Reach out to learn more.
About the Author
Dean Mathews is the founder and CEO of OnTheClock, an employee time tracking app that helps over 15,000 companies all around the world track time. Dean has over 20 years of experience designing and developing business apps. He views software development as a form of art. If the artist creates a masterpiece, many people’s lives are touched and changed for the better. When he is not perfecting time tracking, Dean enjoys expanding his faith, spending time with family and friends, and finding ways to make the world just a little better.