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Dell

Role of Artificial Intelligence in the Recruitment Process

By: DT News Network
August, 25, 2017

Authored by Mr. Digvijay Singh Ponia, Product Manager, Hallwaze Inc

The process of right person for the right job is cumbersome; more so is ensuring you get the best candidate without spending a bomb to find one. It is all a mix of spending money on proper advertising, and scouting for a talented headhunter.  Hiring process involves research and a lot of reliable data, it could easily benefit from machine learning to find strong candidate. Machine learning is the study of pattern recognition and computational learning theory in artificial intelligence. By making a “model”, that is actually a trained knowledge set made up of example inputs; firms will produce correct predictions or choices as outputs instead of following a static procedure. This model can be used to make smarter choices in the recruitment process.

The desired candidates would want nothing but best from the employees in terms of compensation, incentives and benefits, in lieu of the service provided. In these times of extremely competitive business world, talent management and development takes a back seat to business plans and meeting ever looming deadlines.

Big Data, a term that has a familiar ring to it in almost all industry verticals in managing a huge chunk of data, is still a foreign concept in many human resources department. HR segments have derived favorable result by using this technology in the task of talent acquisition. Machine learning aids data scientists in producing faster and more accurate hiring decisions than professionals alone.

When big data analytics are thrown into the mix of hiring, the result is accurate decision making to hire candidates and reduction in human capital costs.  Investment in machine learning to follow up a path of select and optimum hiring is a wise business decision.

The field of talent management, specifically employee development is becoming a priority for employers as they re-evaluate the cost incurred in recruiting, hiring and onboarding as compared to cost of retaining and nurturing the internal talent of an organization.

Human capital development is touted as company’s main focus, promoted and pushed by the top management as well. Having a robust scouting talent program and ramping up the internal talent development is crucial, though, not to be forgotten are the human resource leaders’ penchant to build internal talent development programs. The tough question is – should the companies manage a high potential program, focus on organization-wide employee development planning managerial training sessions, or specialty programs in high turnover or highly specialized training and development programs for knowledge workers? Well, a high-achieving organization would not ignore any of the above. However, it is difficult to compress all the resources in an already stressed human resource or organizational development team. You can easily achieve the task by capitalizing from your current technology in place.

Big data analytics started off with popularity by integrating new technology for managing and analyzing data into the business world and provided a means for businesses to make sense of millions of pieces of data at once. With a new influx of making sense of a huge load of data, organizations developed a two-way attitude:  to adopt the analytics technology in various business domains, or completely shun the technology because they failed to make a go at it because of comprehension issues. 

Reports based on surveys have concluded firms are currently spending an estimated $36 billion on data storage and infrastructure (LaRiverie et al., 2016). The swift move in the usage of data analytics has given a big opportunity for businesses, and organizations which invest in analytics, are using their data to gain a competitive advantage on their peers.

Artificial intelligence, machine learning and data analytics could help speed up your recruitment process:

Quality Hiring-

  • Recruiting specialists can spend more time on those resumes those were qualified to begin with.
  • The specifics of technology throughout the recruiting process would save time for recruiters in an organization and  allow them to make better hires that to within time frame.

Better Relationship & Branding:

  • AI can make job applicant sites more advanced and all the candidates who have applied will have a better experience in receiving updates from recruitment team of their candidature for the specific job role and they won’t be wondering day-in and day-out if someone received their information or even cared.
  • They will also eventually share their experience on social media which will add value to an organization.

Advanced Tracking System-

  • From talent acquisition view point, increased automation will change dynamic in profiling and will enable to update candidate records by various ways - confirming candidate identity via biometrics, fingerprint identification for reference/background check.

Finally it will help to standardize processes and more objectively assess a candidate’s ability and skills throughout the sourcing and selection process, appropriately.

 

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