There are a number of factors which slow down the recruitment process at every step, and some of these often end up having dire consequences for the candidates. One of the many examples of this would be the Lack of Feedback from Recruiters:
Many times candidates do not hear back from recruiters despite possibly being one of the best matches for a particular opportunity. This may be caused by a number of reasons, such as resumes being processed manually. And the recruiters themselves may not be to blame, as in order to make even a dozen hires in a month, a recruiter needs to go through at least 2000 resumes, and that number is actually on the low end!*
Not being able to revert to a candidate hurts the employer too, and not merely the aspiring applicant. 58% of the candidates that do not hear back from an employer are less likely to buy products from that company. Another statistic that is incredibly relevant particularly in today’s context is that 34% of all candidates that have suffered a bad candidate experience will share their experience on social media.*
How Artificial Intelligence Can Help:
The above-mentioned scneario would be only one of the many that inevitably occur during the recruitment process, and can be rescued by the prudent use of Artificial Intelligence (AI). For example, an AI chatbot could do wonders in this situation, assisting candidates through the application process. This goes a long way in improving the process as well as candidate experience and curbing the potential consequential damage suffered on both sides, since 93% of all jobseekers cite unclear application instructions as the primary cause of a bad candidate experience. An AI chatbot would provide candidates with the communication they need for a better experience while at the same time saving recruiters valuable time to better focus their efforts.
Anna Ott (HR Tech Consultant), speaking at the London TRU on the 20th of March said she has already benefited immensely from AI chatbots, which enabled her to focus her time more fruitfully on the candidates screened by bots.
Using Artificial Intelligence in the initial stages to assess resumes effectively equips recruiters with the power to reduce a stack of resumes into an efficient short-list of qualified candidates. Ultimately, it helps recruiters save time and make the perfect hire faster.
According to a recent Gallup study, it was found that gender-diverse businesses (in the retail sector) had 14% higher average comparable revenue than less diverse businesses. A study conducted by the recruitment firm Hays involving a thousand hiring managers found that there is fair, in fact rather likely chance that personal bias will affect the judgement of the individual compiling a candidate short-list.
Incorporating Artificial Intelligence into the hiring process can ensure that the goals of diverse teams are achieved, since it will rank and score candidates based solely on qualification, and effectively eliminate the possibility of bias leaking into top-candidate lists.
Based in the City of London, Recruitment SMART is a HR tech startup on a mission to bring disruptive technology to the recruitment industry. They are developing Artificial Intelligence and Machine Learning based sourcing solutions. Team includes veterans from both the recruitment and tech industries and has client globally in UK, US and APAC. Feel Free to Write to us at [email protected]