If you’ve been hearing a lot about artificial intelligence (AI) lately, it isn’t your imagination. The term has become a buzzword in the world of recruiting - especially as companies like Google, Facebook and Apple have started using it to attract and acquire top talent; however, it’s more than just a passing fad. AI is becoming integral in the HR technology space, and it’s not just big businesses that can benefit from using it. Here are just a few ways small businesses can benefit from AI-enabled recruitment technology:
Find better candidates, faster: Many companies are using AI-enabled recruiting software to help them source and match candidates from across the web to their open positions. Unlike traditional search tools, which search for keywords and terms to find candidates, AI-based semantic search technology looks for context to uncover results that are better suited to your hiring goals. Over time, the results become even more relevant as the search tools “learn” what data is most important to you. Once relevant candidates are identified, recruiters can use AI to automate communication with candidates, gauge their interest levels and even schedule interviews.
Increases efficiency: The recruiting process involves a lot of labor-intensive tasks. Using AI to automate some of those tasks can save recruiters significant time (and frustration). Imagine the time you spend sifting through resumes, sorting and ranking applicants, emailing candidates and scheduling interviews - these are just a few of the steps you can automates through the power of AI.
Streamline your strategy: AI also provides insight that helps you make smarter decisions about where to spend your time and resources when recruiting. For instance, AI helps you make sense of supply and demand data, showing you where you are most likely to find candidates with the skills and experience you need - and where they are in the highest demand (i.e., where there’s more competition). It can also tell you how difficult it will be to fill a certain position, based on real-time labor market data. Such information enables you to set realistic expectations and allocate your resources appropriately.
Improve the candidate experience: The low unemployment rate means fewer candidate applying to jobs and more competition for employers trying to recruit top talent. Providing a top quality candidate experience can be a differentiator for employers, but it can also be a time suck. That’s where AI comes in. AI can help companies provide a richer candidate experience by keeping them in the loop through automated emails that acknowledge that their application has been received, where they are in the recruiting process and even suggests other jobs to apply to.
These are just a handful of ways in which AI is changing the way small businesses recruit and hire. It’s important to note that the purpose of AI is not to replace humans in recruiting and HR roles – which is a common concern – but rather to help them do their jobs better. And that’s a win for all of us.