Could AI technology help your organization land top talent?
Using artificial intelligence in HR work may not be a completely commonplace practice — but it’s not exactly unheard of, either.
One in 10 HR managers, in fact, say AI is regularly being used in HR functions, according to a 2017 CareerBuilder survey. More than half expect it to become a standard part of HR departments’ tasks in the next five years.
Although the ways companies utilize the technology will undoubtedly vary, recruiting, in particular, seems primed for increased AI use. Research conducted by Alexander Mann Solutions found the majority of HR professionals — 96 percent — believe artificial intelligence could potentially enhance talent acquisition and retention.
At some organizations, it already has. Companies currently use AI technology to achieve a number of positive personnel outcomes — such as:
Reducing the amount of bad hires
One tech company, according to Deloitte’s 2016 Human Capital Trends report, has created an analytics model that assesses portions of the interview process to identify candidates who are likely to become toxic employees — ones who lie, for instance — which has helped dramatically reduce the amount the company employs. With nearly three in four organizations reporting they’ve hired the wrong person for a role in the past year, at an average cost of $14,900 per bad hire, according to CareerBuilder, companies can likely make an argument for at least testing out artificial intelligence in HR functions that relate to hiring.
Capturing candidates who fell through the cracks
Talent rediscovery, a practice in which companies use software to screen previous applicants for open positions, may help employers find candidates in high-demand talent pools — which LinkedIn’s 2016 Global Recruiting Trends report said is the biggest challenge for corporate HR departments. Given more than a third of hiring managers spend less than a minute reviewing resumes, and nearly one in five spends less than 30 seconds, according to a recent survey, chances are, some qualified candidates have been inadvertently skipped over.
Pinpointing the ideal person for a position
Instead of using AI technology to assess external hiring options, some HR departments are utilizing it to identify and recruit internal candidates for roles — such as Bridgewater Associates, a hedge fund company with an app that lets employees rate colleagues on certain attributes during meetings. In a 2017 TED Talk, Bridgewater co-founder Ray Dalio said the Dot Collector app helps reduce the influence opinions can have on decision making by highlighting a group consensus of how a discussion is going — and also gives the company a sense of employees’ individual characteristics and how they think, which can be used to match them with the best set of responsibilities.
If your organization doesn’t currently use artificial intelligence in HR functions, you can still successfully recruit candidates with other tech tools.
In recent years, companies’ use of technology in recruitment has ranged from building a corporate alumni network to executing a social media-based employer branding strategy, sometimes involving non-traditional social media venues.
Employers have focused on mobile recruiting efforts and sponsored unique online recruitment campaigns; some have also utilized technology to share their diversity and inclusion program successes with current employees, potential candidates and the general public.
If you’re looking for additional tips on specifically using AI in recruitment, our blog post on three ways big data can help with hiring may provide some insight. Our post on AI’s potential effect on HR roles may also be of interest.
To learn how companies are pioneering AI technology use in recruiting, employee management and other operational aspects — and to find out what artificial intelligence can do for your organization — download our free AI white paper today.