AI For Recruitment: Why More Companies Are Turning To AI Tools

Let’s face it: Artificial intelligence is transforming the recruitment industry. A growing number of companies are now using AI for recruitment. And it’s not by chance.  

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In a 2018 study, over 65% of recruitment professionals acknowledged that AI has helped them attract and retain higher-quality candidates. So if you are not using the technology, you’re taking a huge risk. Why?  

When you’re receiving and processing thousands of resumes, cover letters, and recommendations, it’s easy to make mistakes and end up with a bad hire. And one wrong employee can cost you up to a quarter of a million dollars.

But it doesn’t have to be this way. Many companies are no longer taking chances thanks to AI. If you’re wondering how, here’s how AI is helping them.

Attract High-Quality Candidates

It’s undeniable that the quality of your applicants will largely depend on the candidates you’re attracting. If you’re not attracting the right talent, you will spend thousands of dollars and tens of hours sifting through semi-qualified candidates. With AI this can be a thing of the past.

AI tools can weed through thousands of resumes within a short time. This will enable your talent team to swiftly identify high-potential candidates. And that’s not all.

Recruiting managers can also tap into a wider talent pool. These tools can help you source candidates on online career boards, agency databases, and social media platforms. 

Reduce Bias

Traditionally, hiring processes are laden with bias. Close to 50% of job applicants say they experience some form of discrimination in recruitment processes. This is unfortunate since companies with diverse workforces tend to perform better than those with less diverse workers.

But some biases happen unconsciously. With AI-powered tools, companies are addressing biases in recruitment processes. These tools can help you develop more inclusive job descriptions by assessing your current JDs and suggesting ways to be more inclusive.  

Identify Passive Candidates

Passive candidates make up over 70% of the global workforce. Companies that ignore or underestimate the potential of this talent pool usually end up with wrong or semi-qualified candidates.

According to one study, 98% of recruiting teams admitted that passive candidates are a great source of talent. They’re more likely to make a stronger impact than other candidates. However, the big elephant in the room is how to identify these individuals.  

Without AI, you will have to spend hours looking through LinkedIn and resume boards. But why do the manual work when AI-driven software can sift through past applicants and comb through job boards to find potential candidates?

By focusing on what you’re looking for, AI can create a list of potential applicants and professionals to connect with regarding your open positions. This will help you save time and reduce recruitment costs. Tools such as LinkedIn, among others, detect which candidates are looking for a job and which are more likely to respond. They also provide a list of potential candidates who can meet the profile required in the job post. 

Improve Candidate Experience

The use of AI in recruitment isn’t just about you and your hiring team. It’s also about your candidates.

Candidate experience is a big factor that should never be ignored or understated.  Studies show that candidates use their overall experience to determine how companies value people.

According to a study by Deloitte, 80% of candidates who experience poor recruitment process tell other people about it. This can tarnish your company’s reputation because many candidates and customers rely on reviews today to determine whether to do business with you or not. So how can one give candidates great experience with AI?

AI tools can be the much-needed virtual assistants for recruiters. By automating conversations through chatbots and messaging services, candidates can get the answers they need quickly at any time of the day. This reduces human interaction and enhances candidate experience.

Key Takeaways

Undoubtedly, the use of AI for recruitment is helping companies find the right talent. If you’re not using them, you’re missing out. With the right tools, programs, and software you can automate your recruitment processes, offer great candidate experience, and attract high-quality talent. Contact us today to learn more.

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