AI-driven Talent Acquisition – The New Norm? 0

AI-driven Talent Acquisition -
Talent acquisition is a crucial function of human resource management and recently it has witnessed many advancements, thanks to technology, especially Artificial Intelligence (AI). According to various analysts, five years from now talent shortage will be the predominant issue for Global Talent Acquisition Heads. This article explains how AI has become an integral part of HR and how it is impacting the talent acquisition teams. 

Recent research done in the Bay Area with a group of Global Talent Heads states that:

  • 96% of HR professionals believe AI has the potential to enhance talent acquisition
  • Industry experts estimated 100% of sourcing and screening can be automated
  • 20% of Relationship management related task can be handled by AI
  • Only 7% of HR believe their jobs can be replaced by AI

Some of the most formidable challenges for HR professionals include engaging employees, sourcing right employees, and managing the high attrition rate. It is, therefore, important to have a robust integrated analytical platform that can provide crucial insights to employers, recruiters, and even candidates to help them make the right hiring decisions. Such platforms will also ensure that businesses are ahead of the competition and contributing to their bottom line.

“It is important to have a robust integrated analytical platform that can provide crucial insights to employers, recruiters, and even candidates to help them make the right hiring decisions.” Click To Tweet

 

Artificial Intelligence is no more an Intellectual Language and it can do wonders if augmented properly. Here are some possible ways the technology can contribute towards making recruiters’ lives easier –

Improves Speed of Hiring

Chatbots can perform candidate pre-screening and sourcing tasks. This saves a lot of recruiter’s time, which they can then spend on engaging the most suitable and interested candidates.

Augments Source of Hiring

For instance, you could find if Facebook is a better platform to market your Sales job. Is it GitHub or Stackoverflow that gives you better matching Python developers. Which recruitment agency works best for you and many more? Helping you to budget your recruitment finances wisely. This helps you focus your efforts in the right direction.

Improves Quality of Hire

Traditional recruitment practice runs on a first come first serve basis. We generally source the bunch of resumes and then screen them or vice a versa. However, this is done in bits and pieces. Also, our competitors are also looking at the same set of candidates. We need to be more agile and quick in order to reach top-quality candidates. Using AI for recruiting helps to identify quality candidates much early in the hiring process. This gives us an opportunity to engage better talent much sooner.

The future is already here as a lot of companies have adopted the technology, while others are giving in to the peer pressure and exploring AI. However, to make optimum use of AI in recruitment, it is essential to have the right tools in your arsenal that will come handy across the different stages of the recruitment lifecycle – Job Posting and Candidate Sourcing, Candidate Screening, Candidate Assessment, Interview Process, and Offer Management and On-boarding. Here’s a list of such AI tools and software –

Glancing Through the Recruiting Life Cycle and AI Use Cases

#1. Job Ad Postings

AI helps us to eliminate biased input/language in the job descriptions.  Sometimes we might not agnize the language that we are using in job descriptions is appealing to the potential candidates or biased towards a specific gender. For example, using something like “we are looking for Design Superheroes” does not appeal to women job seekers.

Probable Solution:

TEXTIO is a tool which helps recruiters improve the content of their postings. This product has shown that small tweaks in the language can make a big difference in response rates and the quality of applicants that apply. It uses a specific Natural Language Processing and Text Analytics as a Technique.

AI-driven Talent Acquisition 3

#2. Candidate Sourcing

Sourcing the right candidate at the right time at the Right cost is the phrase all the Recruiting team members are aware of and with a lot of Portals, it is important for a Recruiter to Source in the Right Place. Apart from the portals, there are various integrated web search methodologies that help in sourcing. Additionally, identifying passive candidates and engaging them is a part of recruiter journey in quest of Talent.

Probable Solution(s):

CONNECTIFIER Helps recruiters contact exceptional candidates by leveraging a constantly growing database. It uses machine learning technique and helps in information retrieval, and scaling through the use of neural networks.

ENTELO allows recruiters to source candidates from different groups based on gender, ethnicity, and veteran status. The algorithm used is Predictive Analytics and NLP. It is most relevant to recruit passive talent. Additional features are job Posting, allowing candidates to apply within the software or on the company’s website.

TALENTBIN is one of the best applicant tracking tools and is most effective in sourcing passive candidates. The technology used is Supervised/unsupervised ML. TALENTBIN specializes in collecting Total candidate information from their entire social footprint, Team collaboration and can be accessed from anywhere through the use of Real-time emotional analytics.

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BEAMERY is a candidate relationship management system that uses machine learning to enable proactive recruitment and build a talent pool. It uses predictive analytics and Natural Language Processing to analyze interactions between candidates and employers and helps recruiters to build relationships with them.

TEAMABLE platform transforms employees’ social networks into dynamic talent pools that drive high employee engagement and makes referring relevant candidates easy. Basically, this can be considered as an Extension of current Employee Referral Program. It uses Predictive Analytics for its operation.

ROLEPOINT is a platform which can be leveraged for Effective referrals and internal mobility. It leads to employees’ engagement and attracts the highest quality talent and bringing talent acquisition in line with today’s social and connected world is based on Deep Learning and NLP.

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#3. Candidate Screening

Once we have a good set of resumes the next logical step is to screen them and move forward Prioritizing Resumes. Now, the big task ahead of a recruiter is to find the best candidate to start engaging. Natural Language Processing (NLP), deep learning and machine learning can be used to screen resumes contextually just like an HR expert. It can also match and rank candidates to help shortlist the best talent in just a few seconds.

Probable Solution(s):

TensorFlow is an Open source platform which specializes in CV Screening. It uses Voice recognition, deep learning and Neural networks for its Operation. TensorFlow is mainly used for: Classification, Perception, Understanding, Discovering, Prediction and Creation.

POMATO helps in Matching skills and shortlisting resumes. The technology used is Machine learning and Pattern Recognition. The matching engine uses contextual analysis and matches candidate profiles based on the required skills, roles, expertise level and then candidates are ranked according to their scores for the particular job.

IDEAL is an intelligent system that complements the existing HR software to make best data-backed talent decisions. It uses machine learning and Natural language processing to analyze rich candidate information from resumes, Chabot conversations, assessments and performance data to enable recruiters with decision making.

MOSAICTRACK helps to identify the best Talent on Culture and Skill among the list of resumes by using Predictive Analytics and Machine learning & NLP algorithms. It saves both time and cost for the TA heads.

#4. Candidate Assessment

While the organizations focus on bringing the right talent, it is essential on their part to provide candidates with a great experience. Organisations have understood that their hiring process needs to be modified or enhanced to ensure the candidate experience is good.

Probable Solution(s):

Mya, Olivia, Jobpal are one of the finest Chatbots which are built using NLP, machine learning that can strike a conversation with candidates and perform candidate screening. An interesting fact is that for Pre-existing candidate database, a text-based Chatbot can initiate a message trail with passive candidates to know their interest in job openings and interested candidates can be pre-screened using basic or advanced screening questions. These Chatbots improve candidate experience throughout the hiring process, by keeping the candidate posted with regular updates.

HACKEREARTH/HACKERRANK helps in Screening, inviting candidates and conducting assessments. This is based on Supervised/Unsupervised ML and NLP. The Recruiter can view/Assess and Compile the Code before inviting the Incumbent for Interview Process. The proprietary tech assessment platform vets technical talent through skill-based evaluation and analytics.

SWOOP TALENT is a Talent Data & Integrations Platform from HR Tech Experts. It can be used in all stages to solve talent data management problems. It integrates various data management systems, creates reports, analyses and displays constantly refreshed data. It Interprets Complex Data Sets through the use of cognitive computing.

MY ALLY’S is an AI-powered solution for automating the scheduling and coordination of candidate interviews. The best part is it helps in Discover & Attract, Interview and Hire, Onboard and Retain best Employees. It uses Machine Learning algorithm for its operations.

HARVER is disrupting the recruitment industry and providing companies with an intelligent way to evaluate and automate all aspects of candidate selection, while simultaneously fighting unconscious bias in the process. Harver adds a unique, tailor-made experience component to the hiring process that candidates will love. The technology used is Predictive Analytics, NLP, Data and Self Learning algorithms to make reliable hiring decisions.

McQuaig is also a screening tool which uses job profile as a benchmark and measures the candidate’s personality and cognitive ability with any combination of our psychometric tests and assessments. The results will automatically match the best candidates suited to the role based on the predictive analysis of their potential success and their level of job and culture fit.

#5. Interview Process

Interview Process plays an integral part in Talent Acquisition and involves different aspects like Assessment, Selection, and Candidate Experience. Now, we all understand that it is a candidate market and we have to enable great candidate experience to everyone including prospective employees as well as those who may not reach the finish line. Here are some tools that can come handy during the process.

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Probable Solution(s):

HIREVUE is a digital recruiting company dedicated to finding the best talent for their clients using video intelligence for interviews. It specializes in Human capital management, Video screening, Mobile interview, HR Tech, Artificial Intelligence, Pre-Hire Assessments, through the use of Real-time emotional analytics and computer vision.

CALENDLY is an AI-powered solution used to identify suitable interview slots. This tool specializes in productivity, scheduling, efficiency, Recruiting software, lead conversion through the use of Real-time emotional analytics. The technology used is machine learning.

X.AI helps tackle the administrative nightmare of scheduling interviews with the aid of Machine Learning, vertical AI, Intelligent Agents and Productivity through the use of NLP.

BELONG specializes in Resume Search, Assessments, Candidate Management, Interview Management, Job Requisition & Posting, On-boarding, Reference Checking through the use of NLP. Discovering and engaging talents and Measuring and optimising the Interview Process through predictive analytics is a unique feature of this Product.

INTERVIEW MOCHA is an online assessment software for pre-employment skill testing. It offers Pre-employment Skill Testing Solution to recruit quality candidates and reduce administrative hassles in recruitment using machine learning. It specializes in Online Skill Assessment Testing, Multi-Competency Assessments, Advanced Online Proctoring Mechanism and Employee Skill Testing through the use of neural networks.

TALOCITY is an AI-based one-way video interview platform. The engine sends an SMS, email, and IVR to the candidate with a video job description link. The candidate clicks on the link watch the video JD, and if he/she likes the company, he applies through a one-way video interview. The employer presents the questions for the interview and they can be offered in 39 different languages of the world. This is based on Computer vision, Predictive analytics and Pattern Recognition.

PAÑÑÃ (PANYA) is a platform which can be leveraged for evaluation, recorded interviewing, video conferencing through voice and face recognition. It helps recruiters and interviewers simplify the applicant screening process. Algorithms used are Machine vision/Computer vision and Cognitive Computing.

#6. On-boarding and Offer Management

When it comes to making an offer and on-boarding, the main objective of talent leaders is to keep the hiring process paperless and more data-driven. AI can minimize mundane HR tasks by automating the delivery and receipt of necessary paperwork. AI and chatbots can work around the clock, guiding a new hire through all aspects of onboarding and answering questions as they arise.

Providing new employees, an overview of company policies and login information for job-related portals through automated tools. And also tracking that the document has been thoroughly read and capture electronic signatures as new hires finish steps, removing the need for HR to confirm this completion manually. Candidate engagement via communication and Branding is the essence of the hour. While most of the Applicant Tracking systems have state of the art/ease in Offer letter generation and delivery we will discuss on few aspects on how AI is making its presence felt in this Step.

Probable Solution(s):

TALMUNDO specializes in keeping new employees engaged once they are recruited. It gives a 360-degree view of the organization, chance to introduce themselves through the use of chatbots. It helps in building a great pre-boarding & onboarding experience for employees. The technology used is machine learning.

EVOLV helps organizations to recruit, train, and manage their people. The computer software impacts every aspect of the employee experience, helping people to make their best work even better. It runs on Predictive Analytics and Pattern Recognition.

SABA helps in enterprise learning, talent management, and collaboration solutions which can be leveraged in the On-boarding and future stages. Is based on Machine Learning and NLP.

OPTIMUM HRIS is Payroll & Attendance management. It is designed to suit the specific needs of the Enterprise and web-enabled in house software for Windows, IBM as well as cloud-based SaaS solution. The technology used is machine learning.

While AI is a great enabler there is a misconception among professionals that AI can make recruiters redundant. AI is still in the experimentation stage and when the right set of principles are adopted in the system the tendency of error will become low. With the Concepts of Reinforcement Learning coming in, it is up to the HR professionals to enable the system to learn the right things. What we have learned from the past is that technology does take away jobs but also create new opportunities over time, which we cannot predict initially. Same is the case here, technology will affect existing HR jobs but will create the new ones too. AI is a great enabler and Artificial Intelligence coupled with human intelligence is the Future.

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Vishwanadh Raju is a seasoned Talent Acquisition professional with over 17 years of experience in managing Talent Acquisition in Product Development and Investment Banking Captive organizations. He has managed Business transformation with talent acquisition Strategy. His expertise lies in both high volume and niche hiring. During his career, Vishwanadh has managed Global Talent Branding, Candidate Experience and University Relations. Currently, he is managing Global Talent acquisition for Axiscades.

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