Sourcing and Acquisition: 4 Ways AI Will Change the Way You Hire in the Future
July 31, 2021 By: Komal Dangi
Artificial Intelligence (AI) is currently revolutionizing human resources (HR). Although seemingly contradictory, AI automates repetitive tasks and allows managers to focus on what really matters—the people. AI’s emergence in HR is bringing the human element back to human resources, as workers can now spend more time on actually dealing with people (instead of tedious tasks that can be automated).
Companies that have taken advantage of AI have achieved greater success in sourcing and acquiring candidates. While some recruiters are concerned that AI is replacing them, the recruiters enjoying the most success are working alongside AI.
Now, in order to win the war on candidate sourcing and acquisition, it is critical for recruiters to take a new approach to AI or risk losing top candidates to their competitors.
Automate the Monotonous Administrative Tasks
A recent survey found that 72% of HR managers would welcome sourcing automation to increase their efficiency and believe 100% of candidate sourcing can be automated. Recruiters need look no further than AI software.
By incorporating AI into candidate sourcing, HR professionals have more time to spend on interpersonal tasks. The average recruiter spends 13 hours weekly sourcing candidates for a single role.
With AI, managers can source candidates, schedule interviews, and review candidates automatically using auto-generated coding. AI eliminates the time-consuming administrative tasks and gives HR managers the freedom to focus on the human elements of the job.
AI Finds, Screens, and Communicates with Candidates
AI-supported chatbots work around the clock to communicate with qualified candidates. Equipped with natural language processing, responses are automatic and easy to understand. Chatbots communicate through e-mail or SMS text, making it easy for candidates to communicate with the HR managers, no matter the time or place.
The traditional hiring process is simply not effective or efficient enough to attract candidates. Chatbots can automate the screening process and perform quick background checks, accelerating the hiring process. AI-driven candidate sourcing reduces the cost per screen by 75% and also reduces the turnover rate by 35%.
AI Can Eliminate Biases
Fifty-seven percent of recruiters view implicit bias as a significant problem facing the American workforce. Hiring managers are more likely to hire applicants with whom they have more in common or favor the better-dressed candidates. While these factors are no implication of a candidate’s ability to perform, they do factor into the hiring process.
Researchers noticed that even when employers try to be inclusive, these biases still make their way into job descriptions. AI’s algorithms are designed to identify and remove these biases. Using AI to source candidates levels the playing field and opens the door to qualified candidates who may have been screened out due to any implicit biases.
Now, HR managers have access to the largest possible talent pool and ultimately acquire the best candidates. With such useful tools at arm’s length, it is up to HR managers to rethink their approach to AI and tap into its capabilities.
AI Is the Key Ingredient to Success
Today, 56% of businesses are working to incorporate AI into their HR programs. HR professionals are asked to do more than ever at an impossibly fast pace. With AI rapidly emerging as a focal point in candidate sourcing, HR managers will increasingly incorporate AI into their sourcing process to keep pace with the companies already doing so.
As we move into 2019, it will become increasingly important to add an AI component into any HR strategy. The war on candidate sourcing and acquisition is well underway, and it’s important to stay up to date on the latest technology that can improve a company’s hiring process from start to finish.