Artificial intelligence and recruiting - where will it go in 2018?
Artificial Intelligence began to really make an impact for businesses in 2017, with HR departments particularly influenced.
Now, in 2018, with improvements in the economy and unemployment levels declining, we can expect to see more businesses implementing innovative solutions to help with their recruitment strategy.
So, what can we expect from AI in recruitment and how will it continue to improve the selection process?
1) Artificial Intelligence will remain a dominant trend
Trends in recruiting come and go, but some succeed in establishing themselves more than others. In the last year, software-based AI tools for researching and screening candidates have become more commonplace, meaning that AI is most definitely here to stay.
This technology has gained the attention of many HR managers and recruiters who deal with talent acquisition because of its efficiency, and now the market seems to be ready to adopt it in a systematic way.
2) Quality over quantity
The latest Social Recruiting Survey from SocialTalent revealed that, on average, a recruiter identifies 225 potential candidates for each individual position, with a conversion rate of just 0.4%. On the other hand, the best recruiters are estimated to identify 91 potential candidates per position with a 1% conversion rate and a consequent efficiency increase of 150%.
In 2018, recruiters will have to focus on quality over quantity - and this is where artificial intelligence can help. AI can recognise the requirements needed for an advertised job and automatically match the best-fitting candidates to that job based on their skillset, improving the overall efficiency and reducing bias in the search and selection process.
Thanks to this strategy, talent acquisition managers can shift their focus onto the effectiveness of their recruiting teams – allowing HR to focus on business strategy rather than administrative processes.
3) It’s all about the candidate experience
Recruiting has unfortunately gained a bad reputation for its slowness, outdated processes and inaccessibility for candidates. But now, organisations have started to realise that the candidate experience is one of the most important parts of the selection process and could be the deciding factor between whether they want to work for your company or not.
In 2018, organisations need to start treating candidates like consumers because, as with everything, things can change very quickly, including candidate expectations. Like consumers who demand continuous updates on their online order, candidates also expect immediate information on the status of their application.
AI chatbots, similar to Siri, Alexa or Google Home can be a good way to manage candidate application responses. These staff selections bots can understand and respond to questions as if they are a real person and can be used in a variety of communications such as:
- Social media platforms
- Messaging apps
- Applicant tracking systems
According to a recent survey by Allegis, 66% of candidates said that they have no problem dealing with an automated system prior to the interview stage. Whilst human contact might be preferable for candidates, they also understand that this is not possible for all stages in their application. What matters most for candidates is efficiency and the research process time – and that’s where AI can make all the difference.