We could say that the general advantage we can get from this type of technology, is the optimisation of the recruitment process. Let’s take a look at the specifics though!
According to LinkedIn there are some top metrics to keep into account during a recruitment process:
- Time to fill: amount of time needed for screening and hiring processes.
- Cost per hire: for example, the advertisement cost, or the human costs associated with the interviews.
- Quality of hires: often can’t be measured by a single metric but is actually a set of metrics including retention, productivity, ramp-up time, engagement, or other factors.
- Source of hiring: knowing where most of your good candidates come from will help you determine where to put your advertising dollars.
- Candidate experience: if your goal is to build an employee destination then creating a positive candidate experience should be at the top of your to-do list.
An AI recruitment software implements each of these metrics, bettering the whole process. To begin with, the quality of hires is positively impacted because recruiters can focus on what counts most: crafting successful job descriptions, building an effective employer brand, and conducting in-depth interviews. Recruitment automation can also provide statistics on previous and current recruits, allowing you to replicate success.
Further, recruitment tools fasten the process on both sides, making less time consuming the selection and the application alike. This not only leaves more time for recruiters to focus on the human aspect, but improves the candidate experience because it is shorter.
Finally, The potential of AI to use data to standardize the matching of candidates’ experience, knowledge, and abilities to job criteria is the promise of AI for enhancing the quality of hiring. Employees will be happier, more productive, and less likely to leave if job matching improves.
Artificial intelligence advances in recruiting include intelligent screening software that automates resume screening, recruiter chatbots that engage candidates in real time, and digital interviews that aid in determining a candidate’s fit for the position.
As with most new technologies, these softwares encounter some challenges. The HR Technology Insight journal reports three main issues;
- Lack of human touch.
- Reliability of the technology.
- Possibility to replace the human bias with new bias.
Are the risks worthwhile in comparison to the benefits? Ultimately, many people also questioned blockchain as a technology, but it has proven to be successful in more than one field!
