AI Within the Recruitment and Talent Acquisition Process
blog/ai-within-your-hr-processes-recruitment-and-talent-acquisition-2024
Date: 2024-04-01
It’s a well-known fact that AI is a transformative force for just about every business category, function, or process.
Beyond the general buzz revolving around AI, there are genuinely impactful use cases companies are utilizing within different areas of their business to make their processes more efficient.
Some companies utilize AI to get better insights from analytics, meaning they are able to make faster data-driven decisions.
Others utilize AI to make productivity faster and maximize employee capacity through various uses of generative AI.
And thanks to the recent innovations in Artificial Intelligence (AI) and Machine Learning (ML), AI, especially generative, is increasingly becoming an essential value add for software vendors to incorporate within their new or existing products, making AI more accessible than ever.
But we’re not here to talk about tools like Copilot or SmartSuite’s AI Assistant (at least not today).
Instead, we’d like to zero in on an area that we believe is generally underestimated and under-utilized: Human Resources (HR).
More specifically, the applications of AI within a company’s HR processes.
Currently in 2024, some of the trends revolving around HR include:
Diversity, Equity, and Inclusion (DEI) initiatives which seek to make corporate culture celebrate diversity.
Prioritizing mental health. A recent study shows that 81% of surveyed employees seek organizations that prioritize the mental well-being of their workforce.
Artificial Intelligence and predictive analytics to help innovate various areas of HR for data driven decision making and predictive features.
As we zero into HR as a whole, it’s important to remember that HR encompasses a broad category of business management functions such as onboarding, time-tracking, compensation and benefits management, and much more.
So today, we’re starting from the beginning: the Recruitment and Talent Acquisition process, and more specifically, the AI applications businesses can implement for attracting and hiring new members to their workforce.
Red Pill Labs & Dayforce Networking Event 7:30 AM – 10:00 AM PST
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AI in Recruitment: A Paradigm Shift
AI for recruitment has existed for a while now.
Helping businesses with:
Finding and evaluating potential candidates
Reviewing resumes and job applications
Administering pre-employment evaluations
Forecasting candidate performance and compatibility with company culture
This functionality is possible through letting AI analyze vast amounts of data, which allows the AI algorithms to identify patterns and trends that may otherwise go unnoticed.
Tools like Greenhouse, Lever, and iCIMS enable recruiters to make more informed decisions and identify the best-suited candidates for a given role by doing the heavy-lifting of sifting through the vast amounts of candidate data and identifying whether a candidate will fit within your organization, based on your own requirements.
Dayforce, an HCM provider, formerly known as Ceridian Dayforce, implemented machine learning algorithms within their platform to make better candidate recommendations based on key indicators and past behavior of recruiters.
For example, if your requirements don’t specify a specific education level but your recruiters have hired multiple candidates with a similar education level for the same role, Dayforce’s algorithms will pick up on that and make smarter recommendations for future candidate screenings.
Optimizing Processes for AI Integration
A common mistake companies make when selecting a new system or software is trying to conform their existing processes into their chosen technology.
The addition of a new technology, especially a brand new software, almost always comes with a set of new processes for the organization.
AI is absolutely no different.
Incorporating AI into recruitment workflows requires careful process optimization to maximize its benefits and ensure AI is working effectively, if at all.
This means that redesigning existing workflows is almost essential when it comes to AI, especially ones connected to a vital software such as an HCM, HRIS, or HRMS.
Beyond AI, consider automating repetitive tasks to free up capacity and simplify specific workflows.
AI in the Future, How Will it Look?
Stay tuned for next weeks article on AI predictions for 2024!
