Why You Should Give Artificial Intelligence a Role in Hiring
Artificial Intelligence (AI) is making waves in nearly every industry, and HR is no exception.80% of executives believe AI will improve productivity and performance at their business. Meanwhile, companies are already using the technology to schedule meetings, suggest replies to an email, start conversations with visitors on their websites, and automatically analyze data for new trends or threats.
In particular, we’re seeing AI being used in the realm of recruiting and hiring. In fact, more than half of HR managers in the U.S. believe they will regularly use AI in their work within the next five years. However, despite all the hype around the technology, many businesses are still slow to incorporate it into their processes. If you’re one of them, here are a few reasons why you need to start incorporating AI into your hiring process.
1. Make your hiring process more efficient
Hiring typically involves a lot of routine, repetitive tasks that AI is built to handle. An AI-enabled chatbot can deal with initial inquiries from prospects and quickly screen out anyone who’s unqualified for the role. It can also efficiently answer those same questions that applicants invariably ask. Not only will this save a lot of time for your hiring team, but using AI to provide regular updates on the progress of their application will leave candidates with a positive impression of your business.
Recruitment professionals also spend a lot of time searching online for great candidates to approach about a position. However, with AI sourcing, they can spend less time sifting through search results, and more time focused on creative sourcing—like identifying new organizations to partner with or attending professional meetups.
Background checks are another area where AI can help make processes more efficient. Traditionally, the turnaround times for background checks can vary from minutes to sometimes even weeks. This often means that companies run the risk of losing out on their preferred candidates, who may turn to other opportunities. AI can help ease this burden and make turnaround times more consistent—so you won’t miss out on the best talent.
2. Improve your chances of hiring the right person
The average cost of a new employee is $250,000. Yet 40% of new hires don’t make it past their first year. AI can reduce this turnover by enhancing your chance of finding the right person. Use an AI tool with helpful benchmarks like the resumes of your current top performers and it will identify candidates with similar skills and experience. It can also look at applicants you previously turned down to see if they might be better suited for different role.
If you had to rule out suitable candidates in the past because of issues with their background check, an AI-powered service will recheck and suggest anyone whose offense is now older than your cut-off date or that your business no longer regards as an issue.
You might also consider investing in an AI chatbot, which can engage with the prospects who visit your Careers site. Much like the sales and marketing teams who use Chatbots to increase their pipeline of leads, you can use AI to develop relationships and build a strong pool of talent even before you list a new position.
3. Reduce bias
Unconscious bias is an unfortunate but inevitable part of the hiring process. Even just having an easy-to-pronounce name makes getting a job more likely. But unconscious bias can often mean your business is missing out on the best potential candidate because of one person’s individual preferences.
AI can help remove some of this bias from your hiring process, starting with a potential candidate’s initial touchpoint. A job ad often reflects the character of the person who wrote it, making it more appealing to people like them but potentially alienating others. AI tools can analyze your ads to highlight examples of biased language and recommend more inclusive alternatives.
Many tech companies are also using AI to create tests as the first step in hiring new software engineers. By judging people purely on their test scores instead of traditional resume details like colleges and previous employment, these companies are hiring more people from non-traditional backgrounds.
Enhancing the human in HR
For all the interest in AI, there’s a common thread of fear that leaves people wondering if it will replace jobs. This is far from the case in hiring, where the automation of tasks like talent searching and background checks simply give recruiters and talent managers more time for creative and strategic tasks.
Whether you’re proactively creating talent pipelines, reviewing the success of past hires to enhance future processes, or simply spending more time talking with candidates to see if you’re the right fit for each other—AI will allow HR to be more human.
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“The average cost of a new employee is $250,000. Yet 40% of new hires don’t make it past their first year. AI can reduce this turnover by enhancing your chance of finding the right person.”